The Ductless Heating And Cooling Systems Market Is Estimated To Reach $111.39 Billion By 2027 At A CAGR Of 9.5% – Includes Ductless Heating And Cooling Systems Market Growth
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The growing number of smart homes are expected to drive innovation in ductless heating and cooling systems manufacturing, thus driving the market during the forecast period.
The global ductless heating and cooling systems market is expected to grow from $71.67 billion in 2022 to $77.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The ductless heating and cooling systems market size is expected to grow to $111.39 billion in 2027 at a CAGR of 9.5%.
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Global Ductless Heating And Cooling Systems Market Segments Include:
- By Type: Cooling Only Split System, Heat Pump, Chilled Water System, Window Air Conditioners
- By Application: Residential, Commercial, Industrial
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global ductless heating and cooling systems market in 2021.
Major Market Players in the ductless heating and cooling systems market include Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., LG Electronics Corp, Johnson Controls International, Carrier Global Corporation.
Technological innovation is a key trend gaining popularity in the ductless heating and cooling systems market. Major companies operating in the ductless heating and cooling systems market are focused on providing technologically-advanced devices to strengthen their market position. These companies are implementing next-generation technologies into their devices and framework, such as automation, Internet of Things, advanced control algorithms, inverter-driven compressors, intelligent valves, and others to provide independent humidity and temperature control while eliminating the need for environmentally hazardous refrigerants. For instance, in March 2021, Carrier, a US-based home appliance company introduced new ductless heating and cooling products that are fully communicative to provide versatility and energy efficiency. These ductless heating and cooling systems include a wireless remote controller, an optional cable remote controller, a 24V interface, and a Wi-Fi kit.
The Ductless Heating And Cooling Systems Global Market Report 2023 provides a ductless heating and cooling systems market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ductless heating and cooling systems market forecast analyzes ductless heating and cooling systems market size, ductless heating and cooling systems market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The ductless heating and cooling system are used to control air temperature, resulting in better airflow and more comfortable temperatures. These systems are less expensive than installing central heating and air conditioning with no existing ducts and are handier than single-room heaters and window air conditioners. It offers varied control, energy savings, and improved air quality, enabling it to increase the efficiency and comfort of indoor environments.
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