Ductless Heating & Cooling Systems Market worth 78.62 Billion USD by 2021

Posted February 13, 2019 by gauri16

Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021

The global ductless heating & cooling systems market is projected to reach USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021.
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Ductless heating & cooling systems are experiencing a high demand from the construction sector in the Asia-Pacific region. Expansions and new product development activities related to the development more energy efficient solutions undertaken by different companies are the key factors driving the growth of the global ductless heating & cooling systems market.
Companies such as Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), United Technologies Corporation (U.S.), LG Electronics (South Korea), and Johnson Controls (U.S.) are the leading market participants in the global ductless heating & cooling systems market. These companies have been adopting various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to enhance their market shares for ductless heating & cooling systems.
The split systems are expected to be the leading type of Ductless heating & cooling systems from 2016 to 2021. Split systems allow the user to control the temperature of individual zones as per need. This gives the user the flexibility of operation and provides saving in operating cost. The major benefit of the split system is the low noise level of the system. Split systems are mainly used in schools, hotels, hospitals, supermarkets, and residential buildings. The growth of the commercial sector will also drive the split systems market during the forecast period.
The residential buildings segment is the largest as well as the fastest-growing application of the ductless heating & cooling systems globally. Residential buildings are major consumers of the ductless heating & cooling systems industry owing to the low energy consumption of the system as compared to the ducted system and the easy installation mechanism. Growing populations, rapid urbanization and strong economic growth in the emerging economies of the Asia-Pacific region are leading to the growth in the residential buildings segment which drives the demand for ductless heating & cooling systems. Mini split ductless heating & cooling systems are the most commonly used type in residential buildings due to its lower capacity and lower operating cost.

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The Asia-Pacific region was the fastest-growing market for ductless heating & cooling systems, in terms of value, in 2015 and this trend is expected to continue till 2021. The rapid economic growth and increasing population in countries in this region, such as China, India, Japan, South Korea, Malaysia and Indonesia are leading to a significant increase in the use of ductless heating & cooling systems in residential & commercial buildings. China is the largest market for ductless heating & cooling systems, globally. The market in India is expected to experience the highest growth in the Asia-Pacific region during the forecast period.
Though the global ductless heating & cooling systems market is growing at a fast pace, a few factors are hampering the growth of this market. The higher initial installation cost is a major restraint in the growth of the global ductless heating & cooling systems market.
The various subsegments of ductless heating & cooling systems are, mini split systems, multi split systems, and variable refrigerant flow systems. The refrigerant used in ductless heating & cooling systems produces greenhouse gases which cause ozone depletion. This drawback can be overcome by using eco-friendly refrigerants. Developed nations have very stringent regulations about the use of refrigerants which are harmful for the environment.
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Issued By gauri
Country India
Categories News , Reports , Research
Tags ductless heating cooling systems , ductless heating cooling systems industry , ductless heating cooling systems market , ductless heating cooling systems report , ductless heating cooling systems types
Last Updated February 13, 2019