The demand for energy efficient equipment and devices has been growing consistently in recent years. Moreover, the advancing infrastructural developments across several nations, growing per capita income of the populations in different parts of the world are playing are helping to create a decent demand for the ductless heating and cooling systems. Another important factor that is working in favor of the development of the ductless heating and cooling systems market is their low cost of operations as well as maintenance. During the given forecast period of 2017 to 2025, the global market is projected to achieve stellar growth owing a wide range of micro as well as macro-economic factors.
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Given below are some of the key regional insights of the global ductless heating and cooling systems market:
- The global market has five key regions namely Asia Pacific, Latin America, Europe, North America, and the Middle East and Africa. Of these, the market is predominantly led by the Asia Pacific region. The growth of the ductless heating and cooling systems market in the region can be primarily attributed to the presence of two of fastest growing economies in the world in India and China. The growing population in the region coupled with their robust development of construction and building sector is working in favor of the development of the market in the region.
- In addition to this, the leading players in the market are now trying to reach to the previously unexplored parts of the region so as to cement their overall brand value. The emerging nations are now opening up their economies for more foreign investments. Other industries too are adopting innovative and energy efficient devices. This has thus worked in favor of developing the ductless heating and cooling systems market in the region.
Some of the key players in the global market for ductless heating and cooling systems include names such as Hitachi Ltd., Mitsubishi Electric Corporation, Trane, and Samsung Electronics Co. Ltd. among others.
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