Global Ductless HVAC System Market Synopsis
As per a detailed analysis by Market Research Future
(MRFR), the global ductless HVAC system market is likely to experience a CAGR
of 8.5% during the forecast period (2016-2021).
As the ductless HVAC system consume low energy, it is
gaining popularity worldwide. Ductless HVAC is referred to as a system which is
generally used for heating and cooling purposes. It is a low-cost system, can
be easily installed, and its temperature adjustment can be made easily due to
its size. Heating, ventilating, and air conditioning (HVAC) equipment performs
cooling and heating for commercial, residential, and industrial buildings. The
system also guarantees maintenance of humidity and home temperature in an
economic way.
The ductless HVAC system market is experiencing a
significant spike in its growth as the system consumes less energy and can be
easily installed since these systems do not use ducts for cooling process.
Factors such as highly flexible solutions, low carbon footprint, and enhanced
indoor air quality are stimulating the market growth during the forecast
period. The advancement in technology is further driving the market growth
during the review period.
Global Ductless HVAC System Market: Segmental Analysis
The global ductless HVAC system market has been
segmented o the basis of equipment type, implementation type, and application.
By mode of equipment type, ductless HVAC system market
comprises ventilation, heating, and cooling.
The implementation type comprises retrofit and new
construction.
By mode of application, the market has been segmented
into commercial, residential, and industrial. Among these, the residential
segment commands the largest market share. As these systems can be easily
installed and consume low energy, they are highly adopted in the residential
buildings.
Competitive Dashboard
The prominent players operating in the global ductless
HVAC system market comprises Hitachi, Ltd., Samsung Electronics Co., Ltd., LG
Electronics, United Technologies Corporation, Mitsubishi Electric Corporation,
Johnson Controls, Daikin Industries Ltd., Whirlpool Corporation, Trane, and
Electrolux.
Regional Frontiers
Geographically, the ductless HVAC system market has
been studied under regions namely, Europe, Asia Pacific, North America, and
Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific
region is estimated to command the largest market share and is likely to retain
its dominance in the coming years. emerging economies like India and China are
estimated to experience rapid growth rate and change in climatic condition
which further enhances the growth of the market. Moreover, the steady economic
growth along with surging population especially in countries like South Korea,
China, Japan, India, and Indonesia are creating significant growth in the usage
of ductless heating & cooling systems in commercial as well as residential
buildings.
The North American region is considered to be one of
the largest consumers of the system as this region experiences very high
temperature during summer. The need for these systems becomes crucial during
this time of the season. The populace in this region is considered to have a
high purchasing power parity which triggers its demand in this region.
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