The ductless heating and cooling systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Ductless Heating And Cooling Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ductless heating and cooling systems market size has grown strongly in recent years. It will grow from $78.63 billion in 2023 to $86.34 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to energy efficiency regulations, increasing awareness of environmental sustainability and energy conservation, increased construction industry, fluctuating energy prices, and government incentives.
The ductless heating and cooling systems market size is expected to see strong growth in the next few years. It will grow to $123.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to climate change mitigation efforts and the need for energy-efficient buildings, adoption of green building certifications and standards, research and development sustainable materials, increasing demand for passive house and zero-energy building designs, and urbanization and population growth. Major trends in the forecast period include smart and wi-fi-enabled systems, sustainability and eco-friendly refrigerants, inverter technology, ductless mini-split systems, and heat pump technology.
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Scope Of Ductless Heating And Cooling Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ductless Heating And Cooling Systems Market Overview
Market Drivers –
The growing number of smart homes is expected to propel the growth of the ductless heating and cooling systems market going forward. Smart homes give customers more control over home energy consumption by automating tasks such as regulating temperature, turning on/off lights, opening, and shutting window treatments, and adjusting watering based on weather. These facilities ensure electricity and reduce power and water bills. For instance, according to a survey by Oberlo, a Lithuania-based software development company, in 2022, nearly 57.4 million households in the US are currently using smart home devices, which is a 6.7% increase from 2021 where the number was 53.8 million households using smart home devices. Therefore, the growing number of smart homes will drive the ductless heating and cooling systems market during forecast period.
The ductless heating and cooling systems market covered in this report is segmented –
1) By Type: Cooling Only Split System, Heat Pump, Chilled Water System, Window Air Conditioners
2) By Application: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the ductless heating and cooling system market in 2023. The regions covered in the ductless heating and cooling systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the ductless heating and cooling systems market include Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., Lucky Goldstar Electronics Corp., Johnson Controls International PLC, Carrier Global Corporation, Trane Technologies plc, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Nortek Air Solutions LLC, Samsung Electronics Co. Ltd., GREE Electric Appliances Inc. of Zhuhai, Midea Group Co. Ltd., Panasonic Corporation, Haier Smart Home Co. Ltd., Whirlpool Corporation, Electrolux AB, Lennox International Inc., Rheem Manufacturing Company, Pioneer Air Conditioning & Heating Co., Mirage HVAC Systems Inc., Carrier Enterprise LLC, Friedrich Air Conditioning Co. Ltd., Gree USA Inc., LG HVAC, Senville, Air-Con International Inc., Cooper&Hunter International Corporation, YMGI Group
Table of Contents
- Executive Summary
- Ductless Heating And Cooling Systems Market Report Structure
- Ductless Heating And Cooling Systems Market Trends And Strategies
- Ductless Heating And Cooling Systems Market – Macro Economic Scenario
- Ductless Heating And Cooling Systems Market Size And Growth
…..
- Ductless Heating And Cooling Systems Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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