Ductless Heating & Cooling Systems Market
Global Ductless Heating & Cooling Systems Market Size, Share & Trends Analysis Report by Type (Split Systems, Variable Refrigerant Flow (VRF) systems, Window Air Conditioner Systems), and by Application (Residential Buildings, Commercial Buildings, Industrial Buildings) Forecast (2022-2028)
The global ductless heating & cooling systems market is anticipated to grow at a significant CAGR of 8.0% during the forecast period. One of the major factors influencing the demand of ductless heating & cooling systems is their multiple advantage over older duct systems. As compared to the duct systems, the technology used in ductless systems is more advance and superior such as temperature controls, Wi-Fi compatibility, location-based controls, and others. Moreover, ductless systems are much energy efficient and cheaper to operate as compared to ducted systems. As per Mitsubishi, ductless heating and cooling systems can save 30-40% off the energy costs of a forced air system. Other advantages of ductless systems over duct systems includes ease of deployment & usage, flexibility in sizing and minimal maintenance.
Impact of COVID-19 Pandemic on Global Ductless Heating & Cooling Systems Market
The COVID-19 pandemic had an adverse impact on global ductless heating & cooling systems market. Due to shut down of manufacturing facilities and production of ductless systems the manufacturers were unable to meet the rising demand for these systems during pandemic. The manufacturers faced shortages of supplies, decreased workforce and shortage of components used in ductless systems as a result market faced the shortage in the number of products readily available during pandemic and increased prices of these systems.
Segmental Outlook
The global ductless heating & cooling systems market is segmented based on the type and application. Based on the type, the market is segmented into split systems, variable refrigerant flow (VRF) systems and window air conditioner systems. Based on the application, the market is sub-segmented into the residential buildings, commercial buildings, and industrial buildings. The above mentioned segments can be customized as per the requirements.
Global Ductless Heating & Cooling Systems Market Share by Type, 2021 (%)
The Split systems Segment is Estimated to Hold the Prominent Share of the Global Ductless Heating & Cooling Systems Market
The split systems are anticipated to hold a prominent share in the market as split systems are the latest and recently introduced technology in the ductless. The split systems comprise of one outdoor unit and one indoor unit minimizing the noise output and space consumed by the system. Mini-splits systems are widely used type of ductless split systems due to the main advantage of their small size and flexibility for individual rooms. Ductless mini-split systems are also easier to install compared to other types of systems and as they have no ducts and avoid the energy losses. According to the US Department of Energy, duct losses can account for more than 30% of energy consumption for air conditioning, particularly if the ducts are in an unconditioned space such as an attic. Moreover, major companies in ductless heating & cooling systems market are inclining their efforts in launching mini-split systems to serve the rising demand. For instance, in 2021, Durastar launched its line of mini-split systems on the power equipment direct family of stores. The new products are built to ensure optimal performance and provide homeowners durable performance at a reasonable price with a 10-year parts warranty.
Regional Outlooks
The global ductless heating & cooling systems market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for region or country level as per the requirement. Among these, the Asia-Pacific is considered to be the fastest growing market for ductless heating & cooling systems, owing to the strong presence of several manufacturing facilities in economies such as the China and Japan, among others.
Global Ductless Heating & Cooling Systems Market Growth, by Region 2022-2028
The North America Region is estimated to hold a Considerable Share in the Global Ductless Heating & Cooling Systems Market
The North America is anticipated to hold a prominent share in the market due to increasing initiatives and investments by government across the region. Increasing national initiative are being taken by the government in the US for making clean, efficient, and grid-connected building technologies easier and cheaper to install and use. According to the US department of energy, in 2021, the US Secretary of Energy Jennifer M. Granholm announced a new national initiative that EERE’s Building Technologies Office will lead to advance clean heating and cooling systems in buildings. The initiative for better energy, emissions, and equity (E3 Initiative) works solely on advancing the research, development, and national deployment of clean heating and cooling systems.
Market Players Outlook
The major companies serving the global Ductless Heating & Cooling Systems market include Daikin North America LLC., Fujitsu General Ltd., Johnson Controls, Inc., Lennox International Inc., Mitsubishi Electric Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2018, Ingersoll-Rand plc and Mitsubishi Electric Corp. entered into an agreement to establish an equal partnership of 50% joint venture (JV). The new joint venture includes marketing, sales, and distribution of ductless and VRF heating and air conditioning systems through Ingersoll Rand’s Trane and American Standard commercial and residential channels, and existing Mitsubishi Electric distributors and representatives in the US and some countries of Latin America.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global ductless heating & cooling systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Ductless Heating & Cooling Systems Market
• Recovery Scenario of Global Ductless Heating & Cooling Systems Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Daikin North America LLC.
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Fujitsu General Ltd.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Johnson Controls, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Lennox International Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Mitsubishi Electric Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Ductless Heating & Cooling Systems Market by Type
4.1.1. Split Systems
4.1.2. Variable Refrigerant Flow (VRF) systems
4.1.3. Window Air Conditioner Systems
4.2. Global Ductless Heating & Cooling Systems Market by Application
4.2.1. Residential Buildings
4.2.2. Commercial Buildings
4.2.3. Industrial Buildings
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Bosch Thermotechnology Corp.
6.2. Bryant Heating & Cooling Systems
6.3. Carrier Global Corp.
6.4. CieloWiGle Inc.
6.5. Cooper&Hunter
6.6. DENSO Corp.
6.7. Durastar
6.8. Enercare Inc.
6.9. GE Appliances
6.10. GREE Comfort
6.11. H & H Heating And Air Conditioning Inc.
6.12. Japan Air Conditioning, Heating & Refrigeration News, Ltd.
6.13. Keihin North America
6.14. LG Electronics
6.15. Panasonic Corp.
6.16. QuinStreet, Inc.
6.17. Rheem Manufacturing Co.
6.18. RICHAIR COMFORT SOLUTIONS
6.19. Samsung Electronics
6.20. Skradski Heating & Cooling
6.21. Trane Technologies Co., LLC
6.22. Whirlpool Corp.
1. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL SPLIT SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL WINDOW AIR CONDITIONER SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
6. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR RESIDENTIAL BUILDINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR COMMERCIAL BUILDINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR INDUSTRIAL BUILDINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
10. NORTH AMERICAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
12. NORTH AMERICAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
13. EUROPEAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. EUROPEAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
15. EUROPEAN DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
16. ASIA-PACIFIC DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. ASIA-PACIFIC DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
19. REST OF THE WORLD DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. REST OF THE WORLD DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
21. REST OF THE WORLD DUCTLESS HEATING & COOLING SYSTEMS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET, 2022-2028 (%)
4. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL SPLIT SYSTEMS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL WINDOW AIR CONDITIONER SYSTEMS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
9. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR RESIDENTIAL BUILDINGS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR COMMERCIAL BUILDINGS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS FOR INDUSTRIAL BUILDINGS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL DUCTLESS HEATING & COOLING SYSTEMS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. US DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
14. CANADA DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
15. UK DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
16. FRANCE DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
17. GERMANY DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
18. ITALY DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
19. SPAIN DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
20. REST OF EUROPE DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
21. INDIA DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
22. CHINA DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
23. JAPAN DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
24. SOUTH KOREA DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF ASIA-PACIFIC DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD DUCTLESS HEATING & COOLING SYSTEMS MARKET SIZE, 2021-2028 ($ MILLION)
