Ductless Heating and Cooling Systems Market: Snapshot
Owing to factors such as growing demand for energy efficient devices, infrastructure development across various economies, rising income of people in the emerging countries, and lower operating cost, the demand in the global ductless heating and cooling systems is expected to expand at a significant CAGR during the forecast period of 2017 to 2025. On the other hand, lower capacity than ducted air conditioners and high initial cost is expected to challenge the market from attaining its true potential in the near future. However, trends such as growing use of ecofriendly refrigerant and growing concern for indoor air quality will keep the market in good condition until 2025.
Application-wise, the global ductless heating and cooling systems market is gaining maximum demand from the residential building, considerably more than the commercial and industrial building sectors. Residential building includes all sorts of structures such as apartments, houses, cottages, and condominiums. In these structures, ductless heating and cooling systems are used to maintain the temperature, and since they are easy to install and consume less energy, the demand is escalating. Residential buildings frequently use mini split ductless heating and cooling systems as they offer lower capacity and lower operating cost.
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This report on the global ductless heating and cooling systems market has been compiled to serve as a credible business tool for the audiences such as the manufacturers of these systems, end-use market participants of different segments, government and research organizations, and environment support agencies. The includes assessment of all the factors that may impact the demand in the near future as well as profiles of some of the leading companies in order to understand the competitive landscape.
Global Ductless Heating and Cooling Systems Market: Overview
The global market for ductless heating and cooling systems is estimated to register a healthy growth rate in the next few years. The rising demand from the construction industry, especially from developing economies is likely to accelerate the growth of the overall market in the next few years. Furthermore, the development of new product and technological developments are anticipated to supplement the market’s growth in the next few years. The research study has provided a detailed analysis of the market, focusing on the key growth factors that are estimated to encourage the growth of the market. Moreover, the key segmentation and the competitive scenario of the market have also been included in the study.
Global Ductless Heating and Cooling Systems Market: Drivers and Restraints
The rising demand for energy efficient devices and the rapid pace of infrastructure development across diverse nations worldwide are some of the major factors anticipated to fuel the growth of the global ductless heating and cooling systems market in the next few years. In addition, the increasing income of consumers and their rising inclination towards enhancing their lifestyles are expected to accelerate the growth of the overall market in the next few years.
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On the contrary, the requirement of high initial cost and lower capacity of ductless heating and cooling systems in comparison with ducted air conditioners are projected to curtail the growth of the global market in the coming years. Moreover, several concerns related to the government regulations for refrigerant are likely to restrict the growth of the overall market. Nevertheless, the rising awareness among consumers regarding the concern for indoor air quality and the rising use of ecofriendly refrigerant are expected to contribute towards the development of the market.
Global Ductless Heating and Cooling Systems Market: Region-wise Outlook
From a geographical perspective, in 2015, Asia Pacific led the global ductless heating and cooling systems market and is anticipated to remain in the topmost position throughout the forecast period. The robust growth of the Asia Pacific market can be attributed to the tremendously rising population and the economic growth in several developing economies. In addition, a substantial contribution from India, China, Japan, Malaysia, South Korea, Japan, and Indonesia is expected to contribute extensively towards the development of the Asia Pacific market in the coming years.
Furthermore, the increasing use of ductless heating and cooling systems in commercial and residential buildings is anticipated to accelerate the growth of the market in the near future. The rising demand for ductless heating and cooling systems from China and the untapped opportunities in India are projected to fuel the growth of the overall market in the next few years. The research report has provided the market share, size, and growth rate of the regional segments in order to offer a clear picture of the global market.
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Key Players Mentioned in the Research Report are:
At present, the global ductless heating and cooling systems market is highly competitive and fragmented in nature. The entry of new players in the global market is expected to result in a stiff competition among key players throughout the forecast players. Some of the prominent players operating in the ductless heating and cooling systems market across the globe are Daikin Industries Ltd., LG Electronics, Samsung Electronics Co., Ltd., Whirlpool Corporation, Trane, Electrolux, Johnson Controls, United Technologies Corporation, Mitsubishi Electric Corporation, and Hitachi, Ltd.
The research study offers an in-depth competitive landscape of the global ductless heating and cooling systems market. The company profiles of the leading players in the market have been provided, along with their financial overview and business strategies. In addition, the SWOT analysis, recent developments, and mergers and acquisitions if any have been listed in the scope of the research study.