Ductless HVAC System Market is expected to show a growth USD 98,431 million at a CAGR of about 7.58% from 2022 to 2030.
A ductless HVAC system is made up of two units: an exterior compressor/condenser and an internal air handling unit, which are connected by a conduit. The ductless HVAC system market is dominated by the residential building sector. Since ductless HVAC systems do not utilize ducts for cooling, they consume less energy and are easier to install. The use of ductless HVAC in residential buildings is being driven by these factors.
Various governments are enacting strict regulatory standards for vendors when constructing and retrofitting energy-efficient HVAC systems. The Internet of Things (IoT) is a situation in which HVAC systems are connected to the internet and data is shared. It manages HVAC systems, collects data, and stores it in the cloud; it enhances HVAC operations for increased efficiency, and it maintains a predictive maintenance schedule. It also monitors, regulates, and diagnoses units in a cost-effective manner over the internet. In addition, IoT allows for reduced HVAC system maintenance and repair expenses in the long run. IoT enables access to real-time HVAC system performance data and accurately interprets it.
The report for Global Ductless HVAC System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Regional Analysis of Global Ductless HVAC System Market
Asia-Pacific region is a largest market in the ductless HVAC systems market and this growth is expected to continue till forecast period. Emerging countries like China and India are witnessing rapid economic growth, change in climate condition, and growth in the construction market which are expected to drive the market for the ductless HVAC system in the Asia-Pacific region.
The Key Players of Global Ductless HVAC system Market report 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.
Geographical analysis across 17 countries
A ductless HVAC, consists of two units include; an outdoor compressor/condenser and an indoor air handling unit and these two units are linked with conduit. Residential building segment has the largest share in the ductless HVAC system market. Ductless HVAC system consume low energy and have easy installation procedures as ductless system doesn’t uses duct for cooling process. These factors are driving the usage of the ductless HVAC in the residential building.
|Market Size||2030: USD 98,431 Million|
|CAGR||CAGR of 7.58% (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Equipment Type, Implementation Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Samsung Electronics Co., Ltd., Hitachi, Ltd., United Technologies Corporation, LG Electronics, Johnson Controls, Mitsubishi Electric Corporation, Whirlpool Corporation, Daikin Industries Ltd., Electrolux, and Trane|
|Key Market Opportunities||
|Key Market Drivers||low energy and easy installation procedures|
The ductless HVAC system market can thrive at 7.58% CAGR between 2022 and 2030.
MRFR predicts that the ductless HVAC system market poised to attain high valuation in the end of the evaluation period.
Mitsubishi Electric Corporation, Daikin Industries Ltd., Whirlpool Corporation, Trane, and Electrolux are some well-established players of the ductless HVAC system market.
The growing number of HVAC installations can promote the global market of ductless HVAC systems.
The large-scale commercial ductless HVAC systems can bolster their market in APAC.
Heating, cooling, and ventilation are some functions of ductless HVAC systems.
The report discusses growth opportunities and limitations of the ductless HVAC system market, alongside the impact of key players on the market.