Ductless Heating and Cooling Systems Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Type (Split System, Window Air Conditioning System); By Application ; By Region

Description

Global Ductless Heating and Cooling Systems Market to Flourish to Reach USD 181 billion by 2029.

Global ductless heating and cooling systems market is flourishing due to the high demand from rapidly expanding residential sector owing to population growth, changing lifestyles, and rising disposable income.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global ductless heating and cooling systems market size at USD 105.47 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global ductless heating and cooling systems market size to grow at a CAGR of 8.1% reaching a value of USD 180.87 billion by 2029. In the home market, where they are utilized to maintain a certain temperature, ductless heating and cooling systems are highly sought after. The market for ductless heating and cooling systems is expected to grow during the projected period by the rapid growth of the residential sector as a result of population expansion, changing lifestyles, and rising incomes, as well as growing consumer demand for the systems.

Global Ductless Heating and Cooling Systems Market - Overview:

Ductless heating and cooling systems, in most cases, use two-way heat pumps to transfer heat from indoor to outdoor air. This air can be made wider or narrower by using a refrigerant. The ductless system used is the refrigerant vapor compression cycle, which is similar to a standard white goods cycle. They employ a refrigerant (cooling) cycle to absorb heat from the outside air and circulate colder air throughout the house. The opposite is true for the heating cycle. Ductless systems use mechanical device technology with variable-speed electrical converters to effectively heat and cool any home. Cooling systems are described using terms such as heat pumps and mini-split units, which are cost-effective heating and cooling systems. These systems are dependable, secure, cost-effective, and energy-efficient.

Global Ductless Heating and Cooling Systems Market - By Application:

Global ductless heating and cooling systems market is segmented into three applications: residential buildings, commercial buildings, and industrial buildings. During the forecast period, the residential application segment is expected to account for the highest market share. The increasing adoption of ductless heating and cooling systems in residential structures, rising consumer demand for energy-efficient products, and increasing awareness of the need for energy conservation in developing countries in the APAC region are expected to contribute to the segment growth. The market for ductless heating and cooling systems for residential applications is also expected to grow as governments increase their spending on residential construction.

Impact of COVID-19 on Global Ductless Heating and Cooling Systems Market

Because of concerns about additional COVID outbreaks and China's already hazy post-pandemic future, there is a real possibility that the world will face more severe supply chain pain and manufacturing disruptions. The complexity of the challenges will grow as a result of volatile financial markets, rising trade tensions, tougher regulatory environments, and increased pressure to incorporate climate change into economic decisions. In 2023, the majority of markets, investors, and consumers are expected to have a difficult year. Organizations and leaders who can forge a future of resilience and adaptation, on the other hand, will always have opportunities.

Competitive Landscape:

Global ductless heating and cooling systems market is fiercely competitive. Prominent players in the market include Daikin Industries, Johnson Controls, Carrier, Trane Technologies plc, LG Electronics South, Honeywell International Inc., Mitsubishi Electric Corporation, Nortek Air Management, Samsung Electronics, FUJITSU, GREE, Hitachi, MiUea, Panasonic, Haier Smart Home, Whirlpool, Electrolux, and Lennox. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Global ductless heating and cooling systems market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Ductless Heating and Cooling Systems Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Ductless Heating and Cooling Systems Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23189

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Ductless Heating and Cooling Systems Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Rising Trend of Smart Homes
  - 3.2.1.2. Rising Demand for Energy Efficient Heating and Cooling Systems
- 3.2.2. Restraints
  - 3.2.2.1. Growing Environmental Concern
- 3.2.3. Opportunities
  - 3.2.3.1. Advancement in Technology
- 3.2.4. Challenges
  - 3.2.4.1. Lack of Awareness Regarding Benefits of Ductless Heating and Cooling Systems
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Ductless Heating and Cooling Systems Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Type
  - 4.2.1.1. Split System
  - 4.2.1.1.1. Mini Split System
  - 4.2.1.1.2. Multi Split System
  - 4.2.1.1.3. VRF System
  - 4.2.1.2. Window Air Conditioning System
- 4.2.2. By Application
  - 4.2.2.1. Residential Buildings
  - 4.2.2.2. Commercial Buildings
  - 4.2.2.3. Industrial Buildings
- 4.2.3. By Region
  - 4.2.3.1. North America
  - 4.2.3.2. Europe
  - 4.2.3.3. Asia Pacific (APAC)
  - 4.2.3.4. Latin America (LATAM)
  - 4.2.3.5. Middle East and Africa (MEA)

5. North America Ductless Heating and Cooling Systems Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Application
- 5.2.3. By Country
  - 5.2.3.1. US
  - 5.2.3.1.1. By Type
  - 5.2.3.1.2. By Application
  - 5.2.3.2. Canada
  - 5.2.3.2.1. By Type
  - 5.2.3.2.2. By Application

6. Europe Ductless Heating and Cooling Systems Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Country
  - 6.2.3.1. Germany
  - 6.2.3.1.1. By Type
  - 6.2.3.1.2. By Application
  - 6.2.3.2. UK
  - 6.2.3.2.1. By Type
  - 6.2.3.2.2. By Application
  - 6.2.3.3. Italy
  - 6.2.3.3.1. By Type
  - 6.2.3.3.2. By Application
  - 6.2.3.4. France
  - 6.2.3.4.1. By Type
  - 6.2.3.4.2. By Application
  - 6.2.3.5. Spain
  - 6.2.3.5.1. By Type
  - 6.2.3.5.2. By Application
  - 6.2.3.6. Netherlands
  - 6.2.3.6.1. By Type
  - 6.2.3.6.2. By Application
  - 6.2.3.7. Rest of Europe
  - 6.2.3.7.1. By Type
  - 6.2.3.7.2. By Application

7. Asia-Pacific Ductless Heating and Cooling Systems Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Country
  - 7.2.3.1. China
  - 7.2.3.1.1. By Type
  - 7.2.3.1.2. By Application
  - 7.2.3.2. India
  - 7.2.3.2.1. By Type
  - 7.2.3.2.2. By Application
  - 7.2.3.3. Japan
  - 7.2.3.3.1. By Type
  - 7.2.3.3.2. By Application
  - 7.2.3.4. South Korea
  - 7.2.3.4.1. By Type
  - 7.2.3.4.2. By Application
  - 7.2.3.5. Australia & New Zealand
  - 7.2.3.5.1. By Type
  - 7.2.3.5.2. By Application
  - 7.2.3.6. Indonesia
  - 7.2.3.6.1. By Type
  - 7.2.3.6.2. By Application
  - 7.2.3.7. Malaysia
  - 7.2.3.7.1. By Type
  - 7.2.3.7.2. By Application
  - 7.2.3.8. Singapore
  - 7.2.3.8.1. By Type
  - 7.2.3.8.2. By Application
  - 7.2.3.9. Philippines
  - 7.2.3.9.1. By Type
  - 7.2.3.9.2. By Application
  - 7.2.3.10. Vietnam
  - 7.2.3.10.1. By Type
  - 7.2.3.10.2. By Application
  - 7.2.3.11. Rest of APAC
  - 7.2.3.11.1. By Type
  - 7.2.3.11.2. By Application

8. Latin America Ductless Heating and Cooling Systems Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Country
  - 8.2.3.1. Brazil
  - 8.2.3.1.1. By Type
  - 8.2.3.1.2. By Application
  - 8.2.3.2. Mexico
  - 8.2.3.2.1. By Type
  - 8.2.3.2.2. By Application
  - 8.2.3.3. Argentina
  - 8.2.3.3.1. By Type
  - 8.2.3.3.2. By Application
  - 8.2.3.4. Peru
  - 8.2.3.4.1. By Type
  - 8.2.3.4.2. By Application
  - 8.2.3.5. Rest of LATAM
  - 8.2.3.5.1. By Type
  - 8.2.3.5.2. By Application

9. Middle East & Africa Ductless Heating and Cooling Systems Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Application
- 9.2.3. By Country
  - 9.2.3.1. Saudi Arabia
  - 9.2.3.1.1. By Type
  - 9.2.3.1.2. By Application
  - 9.2.3.2. UAE
  - 9.2.3.2.1. By Type
  - 9.2.3.2.2. By Application
  - 9.2.3.3. Qatar
  - 9.2.3.3.1. By Type
  - 9.2.3.3.2. By Application
  - 9.2.3.4. Kuwait
  - 9.2.3.4.1. By Type
  - 9.2.3.4.2. By Application
  - 9.2.3.5. South Africa
  - 9.2.3.5.1. By Type
  - 9.2.3.5.2. By Application
  - 9.2.3.6. Nigeria
  - 9.2.3.6.1. By Type
  - 9.2.3.6.2. By Application
  - 9.2.3.7. Algeria
  - 9.2.3.7.1. By Type
  - 9.2.3.7.2. By Application
  - 9.2.3.8. Rest of MEA
  - 9.2.3.8.1. By Type
  - 9.2.3.8.2. By Application

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Ductless Heating and Cooling Systems Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Ductless Heating and Cooling Systems Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. Daikin Industries
12.2. Johnson Controls
12.3. Carrier
12.4. Trane Technologies plc,
12.5. LG Electronics South
12.6. Honeywell International Inc.
12.7. Mitsubishi Electric Corporation
12.8. Nortek Air Management
12.9. Samsung Electronics
12.10. FUJITSU
12.11. GREE
12.12. Hitachi
12.13. MiUea
12.14. Panasonic
12.15. Haier Smart Home
12.16. Whirlpool
12.17. Electrolux
12.18. Lennox
12.19. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations