Ductless HVAC System Market Size - Overview
A ductless HVAC has two units that include an outdoor compressor/condenser and an indoor air handling unit. These two units are linked with conduit. A ductless HVAC system is used for cooling as well as heating purposes. It has an advantage over traditional HVAC such as it is easy to install and has low cost systems. The global Ductless HVAC System Market Size is estimated to expand at 8.5% CAGR between 2016 and 2021.Owing to its size, the temperature adjustment can be done very easily. Traditional HVAC systems are forced to cool and heat up through ducts whereas, in ductless HVAC systems, the air is directly delivered in different zones. These systems comprise a small outdoor unit and one or more indoor units that require only mounting capabilities and access to electricity. Sometimes ductless HVAC systems are referred to as split systems, split-ductless systems, or multi-split systems. Many homeowners have started switching to ductless cooling and heating owing to the higher efficiency and lower energy requirement for smooth functioning. This is one of the most primary factors driving the global ductless HVAC systems market over the forecast period.
Ductless split systems also provide targeted heating and cooling when on the other hand, the conventional HVAC systems is too costly and impractical to install. It is widely adopted in Southeast Asia and Europe and continues to gain popularity in the US as consumers and businesses are trying to look for cost-effective alternatives to window units, packaged terminal air conditioners and inefficient ducted systems. Ductless cooling and heating systems use a pair of indoor and outdoor units to warm or cool specific areas. These energy-efficient units provide easier installation and offer flexible and low-cost solutions for zoned heating and cooling.
Ductless HVAC System Industry Segmentation:
The global ductless HVAC system market size is studied for various segments which are carried out on the basis of equipment type, implementation type, application, and region.
Based on equipment type, the global ductless HVAC system market is segmented into heating, ventilation, and cooling.
Based on implementation type, the global ductless HVAC system market size is segmented into retrofit and new construction.
Based on application, the ductless HVAC system market is segmented into commercial, residential, and industrial.
Among these, the residential segment is anticipated to take over the largest share of the global ductless HVAC system market over the forecast period.
Regional Analysis
The global ductless HVAC system market size report has been studied for the regional segments of North America, South America, the Middle East & Africa, Europe, and the APAC.
Asia Pacific is projected to be the fastest growing ductless HVAC system market over the estimate period. This can be accredited to the rapid economic growth in various developing countries such as India, China, South Korea, and Japan. Further, increasing population in these countries has led to higher demand for ductless heating and cooling systems in residential and commercial buildings. Apart from that, growing disposable income has enabled a major chunk of consumers from the middle-income groups to invest in ductless HVAC systems, hence created lucrative growth opportunities for market vendors through the assessment period.
Key Players
Some noteworthy ductless HVAC system market vendors, as mentioned in the report by MRFR, include Samsung Electronics Co., Ltd., Hitachi, Ltd., United Technologies Corporation, LG Electronics, Johnson Controls, Mitsubishi Electric Corporation, Whirlpool Corporation, Daikin Industries Ltd., Electrolux, and Trane.
Read More: Ductless HVAC System Market
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