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 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
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.
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