The global ductless heating & cooling systems market size is expected to reach USD 194.14 billion by 2030, according to a new study by Polaris Market Research.
Demand for energy storage technologies like ductless heating and cooling systems is expected to expand at a healthy rate in the future years as weather conditions throughout the world keep changing dramatically. For instance, as per the NASA report, the Intergovernmental Panel on Climate Change (IPCC) has projected a temperature rise of 2.5 to 10 degrees Fahrenheit over the next decade. In the coming, this one will continue to create growth potential in areas such as cooling management structures, ducted heating and cooling systems, and cooling equipment.
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Also, as per the World Metrological Organization, in October 2021, unprecedented atmospheric greenhouse gas and related accumulating heat have moved the globe into unknown territory, with far consequences for present and future generations. The average global temperature in 2021 was roughly 1.09°C higher than the 1850 to 1900 average. The six data sets considered by this analysis now position 2021 as the 7th warmest year.
Furthermore, several significant players in the market are now concentrating their efforts on forming effective expansions & collaborations to expand their respective customer bases. In January 2022, Sila Services, LLC expanded its business in the New England region by acquiring Boston Standard Company and New England Ductless.
Boston Standard and New England Ductless are award-winning industry experts in plumbing, cooling, and heating. New England’s Contributions have added up, providing its ductless heating compressor expertise to Sila. As a result of catering to customers on both a global and domestic basis, companies will be able to expand their target bases.
Based on the type, the split system segment accounted for the leading share in the market. Due to their lower capacity and operating costs, mini-split ductless heating and cooling structures are becoming more popular in the residential sector. Ductless heating mini-split systems are estimated to use 60% less energy to heat and 30% less energy to cool than standard room air conditioners.
Market market players such as DAIKIN Industries, Carrier, Electrolux, Haier Smart Home, FUJITSU, Hitachi, Honeywell International Inc., Nortek Air Management, LG Electronics, Lennox, Mitsubishi Electric Corporation, Samsung Electronics, Panasonic, and Whirlpool are some key players operating in the global market. In January 2021, Carrier introduced a new Toshiba Carrier touchscreen controller for VRF systems, which can connect up to 128 indoor units to a straightforward interface.
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Polaris Market Research has segmented the ductless heating & cooling systems market report based on type, application, and region:
Ductless Heating & Cooling Systems, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Split System
- Mini Split System
- Multi-Split System
- VRF System
- Window Air Conditioning System
- Heat Pump
- Chilled Water Systems
- Others
Ductless Heating & Cooling Systems, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Residential Buildings
- Commercial Buildings
- Industrial Buildings
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