Ductless Heating and Cooling Systems Market – By Product Type, By End Use, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Report Code: AIR 0521 Report Format: PDF + Excel

Ductless Heating and Cooling Systems Market Overview:

Ductless Heating and Cooling Systems Market size is estimated to reach $189.2 billion by 2030, growing at a CAGR of 8.4% during the forecast period 2024-2030. The increasing demand for energy-efficient and comfortable heating and cooling solutions, the growing popularity of smart homes and the rising disposable income of consumers are propelling the Ductless Heating and Cooling Systems Market growth.
 
Additionally, the growing popularity of energy-efficient retrofits are creating substantial growth opportunities for the Ductless Heating and Cooling Systems Market. These factors positively influence the Ductless Heating and Cooling Systems industry outlook during the forecast period.
 
Ductless Heeating and Cooling Systems Market - Report Coverage:
 
The “Ductless Heating and Cooling Systems Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Ductless Heating and Cooling Systems Market.
 
               Attribute                        Segment 
 

By Product Type

  

  • Window Air Conditioning System

  • Split Systems

  • Chilled Water System

  • Others

  •  
 

By End-Use

 

  • Residential

  • Industrial

  • Commercial 




 

By Geography  

  • North America (U.S., Canada and Mexico) 

  • Europe (Germany, France, UK, Italy, Spain, 

  • Russia and Rest of Europe),  

  • Asia-Pacific (China, Japan, South Korea, India, 

  • Australia & New Zealand and Rest of Asia-

  • Pacific),  

  • South America (Brazil, Argentina, Chile, 

  • Colombia and Rest of South America) 

  • Rest of the World (Middle East and Africa). 

COVID-19 / Ukraine Crisis - Impact Analysis: 

● The pandemic and associated lockdown measures resulted in a temporary slowdown in construction activities and installations. Many construction projects were put on hold or delayed, impacting the demand for ductless heating and cooling systems. This downside was nullified by the demand from consumers who have stayed at home due to remote work opportunity leading to the need for ductless systems at home.
 
● The Russia-Ukraine conflict had broader economic implications, affecting the economies of both countries and potentially neighbouring regions. Economic downturns along with financial instability impacted consumer spending and investment patterns, leading to a decrease in demand for HVAC systems, including ductless solutions.
 
Key Takeaways:
 
● Asia-Pacific Exhibits Fastest Growth
 
Geographically, Asia Pacific is expected to grow with the highest CAGR of 9.3% during the forecast period 2024-2030 owing to the growing investment in building & construction in the region, the increasing demand for energy-efficient devices, and the rising awareness of the benefits of ductless systems. Additionally, the growth of the ductless heating and cooling systems market in Asia Pacific is being led by the increasing demand for these systems in residential and commercial applications.
 
● Split Systems to Register the Fastest Growth
 
In the Ductless Heating and Cooling Systems Market analysis, the Split Systems segment is predicted to grow at higher CAGR during the forecast period. The increasing demand for split systems is driven by their ease of installation, energy efficiency, and ability to deliver customized comfort, leading to their rapid growth in the market. Split systems offer flexibility in installation, enabling personalized temperature control in different zones or rooms. They are energy-efficient, provide efficient heating and cooling, and are suitable for both residential and commercial applications. 
 
●  Residential is Leading the Market
 
Residential segment held the largest market share in 2023 owing to the rising awareness of energy efficiency and the desire to reduce utility costs are driving homeowners to choose ductless systems for their homes, cementing the residential sector's leadership in the market. Ductless systems offer energy efficiency, personalized comfort control, and improved indoor air quality, which align with the preferences of residential consumers. The ability to create individual temperature zones and the ease of installation further contribute to their popularity in residential applications.
 
● The Surging Demand for Energy-Efficient HVAC Systems
 
 Consumers and businesses are seeking energy-efficient solutions as awareness of environmental concerns and the need to reduce energy consumption grows. Ductless systems provide a high level of energy efficiency compared to traditional HVAC systems. They eliminate the energy losses associated with ductwork and allow for individual temperature control, reducing energy waste. The emphasis on energy efficiency and the desire to reduce environmental impact are propelling the adoption of ductless heating and cooling systems, driving market growth.
 
● The Escalating Trend of Green Building Practices Adoption 
 
Green building standards, such as LEED certification, prioritize energy efficiency, sustainability, and environmental responsibility. Ductless systems align perfectly with these objectives, offering higher energy efficiency ratings, reducing greenhouse gas emissions, and minimizing energy waste by eliminating ductwork. Ductless systems are recognized as eco-friendly HVAC solutions that contribute to achieving green building goals. As green building practices gain prominence, the demand for ductless heating and cooling systems increases, driving market growth and adoption of these sustainable solutions.
 
● High Initial Costs of Generators Hamper the Market Growth 
 
The high initial cost of ductless heating and cooling systems is posing a challenge to market growth. While these systems offer long-term energy savings and benefits, the upfront investment required is deterring some potential buyers. The cost of equipment, installation, and professional services involved in setting up ductless systems is significant. This is making it less attractive compared to traditional HVAC systems, especially for budget-conscious consumers or those with financial constraints. 
 Ductless Heating and Cooling Systems Market Share (%) By Region, 2023

 
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Key Market Players:
 
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Ductless Heating and Cooling Systems Market. The top 10 companies in this industry are listed below:
  1. Daikin Industries Ltd. 
  2. Mitsubishi Electric Corporation
  3. LG Electronics Inc.
  4. Fujitsu General Limited
  5. Panasonic Corporation
  6. Gree Electric Appliances, Inc
  7. Midea Group
  8. GE Appliances
  9. Johnson Controls International 
  10. Carrier Global Corporation 
Scope of the Report:

 

        Report Metric                                Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

8.4%

Market Size in 2030

$189.2 billion

Segments Covered

Product Type, End-Use and Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  1. Daikin Industries Ltd.

  2. Mitsubishi Electric Corporation

  3. LG Electronics Inc.

  4. Fujitsu General Limited

  5. Panasonic Corporation

  6. Gree Electric Appliances, Inc

  7. Midea Group

  8. GE Appliances

  9. Johnson Controls International

  10. Carrier Global Corporation
 
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1. Ductless Heating and Cooling Systems Market - Overview 
    1.1. Definitions and Scope 
2. Ductless Heating and Cooling Systems Market - Executive Summary 
3. Ductless Heating and Cooling Systems Market - Comparative Analysis 
    3.1. Company Benchmarking - Key Companies 
    3.2. Global Financial Analysis - Key Companies 
    3.3. Market Share Analysis - Key Companies 
    3.4. Patent Analysis 
    3.5. Pricing Analysis 
4. Ductless Heating and Cooling Systems Market - Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by 
        4.1.1. Investment 
        4.1.2. Revenue 
        4.1.3. Venture Capital and Funding Scenario 
5. Ductless Heating and Cooling Systems Market – Market Entry Scenario Premium
    5.1. Regulatory Framework Overview 
    5.2. New Business and Ease of Doing Business Index 
    5.3. Case Studies of Successful Ventures 
6. Ductless Heating and Cooling Systems Market - Forces 
    6.1. Market Drivers 
    6.2. Market Constraints 
    6.3. Market Challenges 
    6.4. Porter's Five Force Model 
        6.4.1. Bargaining Power of Suppliers 
        6.4.2. Bargaining Powers of Customers 
        6.4.3. Threat of New Entrants 
        6.4.4. Rivalry Among Existing Players 
        6.4.5. Threat of Substitutes 
7. Ductless Heating and Cooling Systems Market – Strategic Analysis 
    7.1. Value Chain Analysis 
    7.2. Opportunities Analysis 
    7.3. Market Life Cycle 
8. Ductless Heating and Cooling Systems Market – by Product Type (Market Size – $Million/$Billion)  
    8.1. Window Air Conditioning System 
    8.2. Split Systems 
    8.3. Chilled Water System 
    8.4. Others  
9. Ductless Heating and Cooling Systems Market – by End Use (Market Size – $Million/$Billion) 
    9.1. Residential  
    9.2. Industrial 
    9.3. Commercial  
10. Ductless Heating and Cooling Systems Market – by Geography (Market Size – $Million/$Billion)  
    10.1. North America 
        10.1.1. The U.S. 
        10.1.2. Canada 
        10.1.3. Mexico 
    10.2. Europe 
        10.2.1. UK 
        10.2.2. Germany 
        10.2.3. France 
        10.2.4. Italy 
        10.2.5. Spain 
        10.2.6. Russia 
        10.2.7. Rest of Europe 
    10.3. Asia-Pacific 
        10.3.1. China 
        10.3.2. India 
        10.3.3. Japan 
        10.3.4. South Korea 
        10.3.5. Australia & New Zealand 
        10.3.6. Rest of Asia-Pacific 
    10.4. South America 
        10.4.1. Brazil 
        10.4.2. Argentina 
        10.4.3. Chile 
10.4.4. Colombia 
        10.4.5. Rest of South America 
    10.5. Rest of the World 
        10.5.1. Middle East 
        10.5.2. Africa 
11. Ductless Heating and Cooling Systems Market – Entropy 
12. Ductless Heating and Cooling Systems Market – Industry/Segment Competition Landscape  
    12.1. Market Share Analysis 
        12.1.1. Market Share by Product Type – Key Companies 
        12.1.2. Market Share by Region – Key Companies 
        12.1.3. Market Share by Country – Key Companies 
    12.2. Competition Matrix 
    12.3. Best Practices for Companies 
13. Ductless Heating and Cooling Systems Market – Key Company List by Country Premium  
14. Ductless Heating and Cooling Systems Market - Company Analysis 
    14.1. Daikin Industries Ltd. 
    14.2. Mitsubishi Electric Corporation 
    14.3. LG Electronics Inc. 
    14.4. Fujitsu General Limited 
    14.5. Panasonic Corporation 
    14.6. Gree Electric Appliances, Inc 
    14.7. Midea Group 
    14.8. GE Appliances 
    14.9. Johnson Controls International 
    14.10. Carrier Global Corporation 

The Ductless Heating and Cooling Systems Market is projected to grow at 8.4% CAGR during the forecast period 2024-2030.

The Global Ductless Heating and Cooling Systems Market size is estimated to be $ 107.6 billion in 2023 and is projected to reach $ 189.2 billion by 2030.

The leading players in the Ductless Heating and Cooling Systems Market are Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Fujitsu General Limited, Panasonic Corporation and others.

The escalating trend of indoor air quality solutions adoption, evolving of smart home integration, high demand for flexible HVAC Systems is some of the major Ductless Heating and Cooling Systems Market trends in the industry which will create growth opportunities for the market during the forecast period.

The increasing demand for energy-efficient and comfortable heating and cooling solutions, the growing popularity of smart homes and the rising disposable income of consumers are propelling the market growth. The growing popularity of energy-efficient retrofits are creating substantial growth opportunities for the Ductless Heating and Cooling Systems Market.