Ductless Heating & Cooling Systems Market 2022-2028

Description

List of Tables

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 substantial CAGR of 8.0% during the forecast period. The increase in development of smart homes are expected to create demand for ductless heating & cooling systems. Ductless systems are used in smart homes for controlling air temperature, humidity, and fresh air intake. Moreover, these systems are equipped with smart devices such as sensor, heating and cooling coils, control valves, actuators, pumps etc. that help to save energy and control the working of ductless heating & cooling systems. Additionally, rapid innovation in devices is driving consumer interest towards ductless heating & cooling systems. Due to increasing demand, manufacturers are inclining towards introducing units with advanced technology and increased efficiency. For instance, in 2020, Daikin announced to launch five new residential split system air conditioners with ventilation and humidification functions. The ventilation function is controlled from the remote controller or using the Daikin Smart app. The Urusara X is also equipped with a ventilation sensor that detects people in the room and change the ventilation volume accordingly.

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 residential application segment is anticipated to hold a prominent market share during the forecast period. The segmental growth is attributed due to the rising adoption of ductless heating & cooling systems in residential buildings. Ductless heating & cooling systems are primarily used for heating and cooling indoor air in residential buildings due to the low energy consumption coupled up with easy installation of ductless heating & cooling systems. Thus, more companies are increasing their efforts towards manufacturing of residential systems. For instance, in 2021, Daikin launched a residential product featuring R-32, a mildly flammable A2L refrigerant. The ATMOSPHERA system is a single zone, ductless system that offers up to 27.4 SEER, 13.8 HSPF, and 16.3 EER ratings for cooling and heating.

Geographically the ductless heating & cooling systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is anticipated to grow at a considerable CAGR among the ductless heating & cooling systems market over the projected years. The Asia-Pacific region is the major market for ductless heating & cooling systems due to rise in industrialization activities and increase in infrastructure development in many Asian countries including China, India, and Japan. As a result, rapid economic development is fueling the popularity for the global ductless heating & cooling systems in the region. According to a report from the Asian Development Bank (ADB), economic growth in developing Asia is set to rebound to 7.3% in 2021

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, Bryant Heating & Cooling Systems (Bryant) released new line of mid-tier single-zone ductless outdoor units, which are designed for compatibility with the preferred series high wall, cassette, ducted, and floor console indoor units catering to operate quietly, as low as 27 dB(A).

Research Methodology

The market study of the global ductless heating & cooling systems market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.
Whitepapers, research papers, and news blogs.
Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Ductless Heating & Cooling Systems Market Research and Analysis by Type.

2. Global Ductless Heating & Cooling Systems Market Research and Analysis by Application.

The Report Covers:

Comprehensive Research Methodology of the global ductless heating & cooling systems market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global ductless heating & cooling systems market.
Insights about market determinants that are stimulating the global ductless heating & cooling systems market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026339

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.