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Global Ductless Heating and Cooling Systems Market to reach USD 157 billion by 2028

Global Ductless Heating and Cooling Systems Market Size study, by Type(Split Systems, and Window Air Conditioning Systems), by Application(Residential Buildings, Commercial Buildings, and Industrial Buildings) and Regional Forecasts 2022-2028

Product Code: EESC-43594820
Publish Date: 30-04-2022
Page: 200

Global Ductless Heating and Cooling Systems Market is valued at approximately USD 91 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2022-2028. Ductless systems employ variable-speed inverter compressor technology to Heat and/or cool any room in which they are placed efficiently. Ductless Heating and Cooling Systems, often known as heat pumps or micro splits, are energy-efficient heating and cooling systems. These systems are long-lasting, silent, safe and cost-effective. The market is driven by significant factors such as growing demand for energy-efficient devices and increase in residential construction. According to Comfy Living, there will be around 41.3 million smart homes in the United States by 2020. Demand for Ductless Heating and Cooling Systems is likely to rise as the number of smart homes grows. In smart homes, ductless systems are utilized to manage fresh air intake, air temperature and humidity. According to Statista, despite the impact of COVID-19, new residential building is predicted to expand by 33% in the United States from 2019 to 2022, amounting to USD 182 billion. Furthermore, by 2023, the annual value of residential buildings in the United States is expected to exceed USD 205 billion. Moreover, high penetration of VRF systems in residential and commercial applications propel the market opportunities across the globe. However, higher initial cost of ductless system installation impedes the growth of the market over the forecast period of 2022-2028.

The geographical regions considered for the Global Ductless Heating and Cooling Systems Market analysis include Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is expected to be the fastest-growing region in the upcoming years owing to increasing in investment in building and construction.

Major market players included in this report are:
Nortek Air Management
Daikin Industries
Johnson Controls
LG Electronics
Haier Smart Home
Trane Technologies plc,
Emerson Electric Co.
Honeywell International Inc.
Mitsubishi Electric Corporation
Samsung Electronics

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Split System
Window Air Conditioning System
By Application:
Residential Buildings
Commercial Buildings
Industrial Buildings
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Ductless Heating and Cooling Systems Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Ductless Heating & Cooling Systems Market, by Region, 2020-2028 (USD Billion)
1.2.2. Ductless Heating & Cooling Systems Market, by Type, 2020-2028 (USD Billion)
1.2.3. Ductless Heating & Cooling Systems Market, by Application, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ductless Heating & Cooling Systems Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ductless Heating & Cooling Systems Market Dynamics
3.1. Ductless Heating & Cooling Systems Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Growing demand for energy-efficient devices Increase in residential construction
3.1.2. Market Challenges Higher initial cost of ductless system installation Rising environmental concerns
3.1.3. Market Opportunities High penetration of VRF systems in residential and commercial applications Rapid transformation of IoT in HVAC systems
Chapter 4. Global Ductless Heating & Cooling Systems Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Ductless Heating & Cooling Systems Market, by Type
6.1. Market Snapshot
6.2. Global Ductless Heating & Cooling Systems Market by Type, Performance – Potential Analysis
6.3. Global Ductless Heating & Cooling Systems Market Estimates & Forecasts by Type, 2019-2028 (USD Billion)
6.4. Ductless Heating & Cooling Systems Market, Sub Segment Analysis
6.4.1. Split System
6.4.2. Window Air Conditioning System

Chapter 7. Global Ductless Heating & Cooling Systems Market, by Application
7.1. Market Snapshot
7.2. Global Ductless Heating & Cooling Systems Market by Application, Performance – Potential Analysis
7.3. Global Ductless Heating & Cooling Systems Market Estimates & Forecasts by Application, 2019-2028 (USD Billion)
7.4. Ductless Heating & Cooling Systems Market, Sub Segment Analysis
7.4.1. Residential Buildings
7.4.2. Commercial Buildings
7.4.3. Industrial Buildings
Chapter 8. Global Ductless Heating & Cooling Systems Market, Regional Analysis
8.1. Ductless Heating & Cooling Systems Market, Regional Market Snapshot
8.2. North America Ductless Heating & Cooling Systems Market
8.2.1. U.S. Ductless Heating & Cooling Systems Market Type breakdown estimates & forecasts, 2019-2028 Application breakdown estimates & forecasts, 2019-2028
8.2.2. Canada Ductless Heating & Cooling Systems Market
8.3. Europe Ductless Heating & Cooling Systems Market Snapshot
8.3.1. U.K. Ductless Heating & Cooling Systems Market
8.3.2. Germany Ductless Heating & Cooling Systems Market
8.3.3. France Ductless Heating & Cooling Systems Market
8.3.4. Spain Ductless Heating & Cooling Systems Market
8.3.5. Italy Ductless Heating & Cooling Systems Market
8.3.6. Rest of Europe Ductless Heating & Cooling Systems Market
8.4. Asia-Pacific Ductless Heating & Cooling Systems Market Snapshot
8.4.1. China Ductless Heating & Cooling Systems Market
8.4.2. India Ductless Heating & Cooling Systems Market
8.4.3. Japan Ductless Heating & Cooling Systems Market
8.4.4. Australia Ductless Heating & Cooling Systems Market
8.4.5. South Korea Ductless Heating & Cooling Systems Market
8.4.6. Rest of Asia Pacific Ductless Heating & Cooling Systems Market
8.5. Latin America Ductless Heating & Cooling Systems Market Snapshot
8.5.1. Brazil Ductless Heating & Cooling Systems Market
8.5.2. Mexico Ductless Heating & Cooling Systems Market
8.6. Rest of The World Ductless Heating & Cooling Systems Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Nortek Air Management Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Daikin Industries
9.2.3. Johnson Controls
9.2.4. LG Electronics
9.2.5. Haier Smart Home
9.2.6. Trane Technologies plc,
9.2.7. Emerson Electric Co.
9.2.8. Honeywell International Inc.
9.2.9. Mitsubishi Electric Corporation
9.2.10. Samsung Electronics
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
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Data Collection:
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In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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