Market Overview:
The global ductless HVAC system market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient and environment-friendly cooling and heating systems, rising disposable income, and growing awareness about the benefits of ductless HVAC systems. The global ductless HVAC system market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into cooling only split-systems, heat pumps, chilled water systems, and others. The cooling only split-systems segment is expected to dominate the global ductless HVAC system market during the forecast period owing to their high efficiency and low cost as compared to other types of ductless HVAC systems. On the basis of application,the market is divided into residential applications commercial applications industrial applications . Residential applications are expected to account for a major share in terms of revenue in 2018 owingto an increase in demand for energy efficient cooling solutions from households across regions . Commercial applications are projectedto witness significant growth duringthe forecast period due icto an increasein construction activities across various regions .
Product Definition:
A ductless HVAC system is a type of heating and cooling system that doesn't require ductwork. These systems are often used in homes or small businesses where installing ductwork is either not possible or too expensive. Ductless HVAC systems are also popular in climates where the weather can vary significantly from one season to the next, as they allow homeowners to heat or cool individual rooms as needed.
Cooling Only Split-System:
The global cooling only split-system, it's usage and growth factor in ductless HVAC system market size was valued at USD 1.8 billion in 2016. The increasing demand for energy-efficient systems is expected to drive the industry over the forecast period.
Heat Pump:
The heat pump is a mechanical device that extracts heat from one area and moves it to another. The most common application of the heat pump is in heating, ventilation and air conditioning (HVAC) systems. In HVAC applications, they are used for moving thermal energy from an indoor space to an outdoor space or vice versa. It can also be used for generating electricity using thermoelectric materials which include copper, zinc-based alloys and glass fibers among others.
Application Insights:
The commercial application segment dominated the global market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to an increase in construction activities for commercial buildings, especially in developing countries like India and China. These systems are used across educational institutions, hospitals, hotels, restaurants and other hospitality facilities on account of their energy-efficient nature that results in lesser usage of mechanical ventilation systems such as air conditioning system.
The residential sector is expected to witness significant growth owing to increasing urbanization along with rising demand for single housing units across various regions including Asia Pacific and Middle East & Africa where population is growing rapidly due to factors such as high birth rate coupled with high migration rate which will result in increased building constructions over the coming years which will positively influence industry growth over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance throughout the forecast period owing to increasing awareness among consumers regarding the benefits of ductless systems and presence of a large number of manufacturers in this region. Asia Pacific, on other hand, is anticipated to witness significant growth over the next eight years due to rising disposable income and improving standard of living especially in developing countries such as India and China. Moreover, government initiatives encouraging investments for energy-efficient cooling are also expected favorably impact regional demand during the forecast period. For instance, Energy Conservation Promotion Act 1992 (ECPA) was introduced by Government Of India which provides financial incentives on energy conservation measures including chilled water system installation/renovation or HVAC equipment replacement/addition etc.
Europe accounted for more than 20% share in 2017 owing to growing adoption across residential as well as commercial sectors particularly Germany and U.K.
Growth Factors:
- Increasing demand for energy-efficient systems: The global ductless HVAC system market is expected to grow at a CAGR of over 9% during the forecast period. This can be attributed to the increasing demand for energy-efficient systems, as they help in reducing electricity consumption and greenhouse gas emissions.
- Rising awareness about benefits of ductless HVAC systems: There is a growing awareness among consumers about the benefits of using ductless HVAC systems, such as improved indoor air quality and reduced energy costs. This is likely to boost the growth of the market in the coming years.
- Growing popularity of mini split ACs: Mini split ACs are becoming increasingly popular due to their small size and flexibility in terms of installation options. They are also more affordable than traditional central air conditioning units, which is likely to drive their adoption in residential applications worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ductless HVAC System Market Research Report
By Type
Cooling Only Split-System, Heat Pump, Chilled Water System, Others
By Application
Residential, Commercial, Industrial
By Companies
Samsung Electronics, Hitachi, United Technologies Corporation, LG Electronics, Johnson Controls, Mitsubishi Electric Corporation, Whirlpool Corporation, Daikin Industries Ltd, Electrolux, Trane, Samsung Electronics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Ductless HVAC System Market Report Segments:
The global Ductless HVAC System market is segmented on the basis of:
Types
Cooling Only Split-System, Heat Pump, Chilled Water System, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Samsung Electronics
- Hitachi
- United Technologies Corporation
- LG Electronics
- Johnson Controls
- Mitsubishi Electric Corporation
- Whirlpool Corporation
- Daikin Industries Ltd
- Electrolux
- Trane
- Samsung Electronics
Highlights of The Ductless HVAC System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cooling Only Split-System
- Heat Pump
- Chilled Water System
- Others
- By Application:
- Residential
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ductless HVAC System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A ductless HVAC system is a type of air conditioning and heating system that uses small, indoor fans to circulate air. This system is often more energy-efficient than traditional systems, because it doesn't use large ducts or pipes to move air around.
Some of the key players operating in the ductless hvac system market are Samsung Electronics, Hitachi, United Technologies Corporation, LG Electronics, Johnson Controls, Mitsubishi Electric Corporation, Whirlpool Corporation, Daikin Industries Ltd, Electrolux, Trane, Samsung Electronics.
The ductless hvac system market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ductless HVAC System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Ductless HVAC System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ductless HVAC System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Ductless HVAC System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Ductless HVAC System Market Size & Forecast, 2020-2028
4.5.1 Ductless HVAC System Market Size and Y-o-Y Growth
4.5.2 Ductless HVAC System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cooling Only Split-System
5.2.2 Heat Pump
5.2.3 Chilled Water System
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Ductless HVAC System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Ductless HVAC System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cooling Only Split-System
9.6.2 Heat Pump
9.6.3 Chilled Water System
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cooling Only Split-System
10.6.2 Heat Pump
10.6.3 Chilled Water System
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cooling Only Split-System
11.6.2 Heat Pump
11.6.3 Chilled Water System
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cooling Only Split-System
12.6.2 Heat Pump
12.6.3 Chilled Water System
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cooling Only Split-System
13.6.2 Heat Pump
13.6.3 Chilled Water System
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Ductless HVAC System Market: Competitive Dashboard
14.2 Global Ductless HVAC System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Samsung Electronics
14.3.2 Hitachi
14.3.3 United Technologies Corporation
14.3.4 LG Electronics
14.3.5 Johnson Controls
14.3.6 Mitsubishi Electric Corporation
14.3.7 Whirlpool Corporation
14.3.8 Daikin Industries Ltd
14.3.9 Electrolux
14.3.10 Trane
14.3.11 Samsung Electronics
