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.
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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