Global Split Air Conditioning Systems Market: Rising Demand in Asia Pacific to Present Highly Lucrative Opportunities for Market Players

The market overview section of the report showcases the market’s dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. The market revenue shares and volume analysis of the split air conditioning systems market has been examined through cross-segmentation and sub-segment evaluations.

Moreover, the report provides the overview of various strategies of the key players in the split air conditioning systems market and analyzes their behavior in the prevailing market dynamics. Additionally, the report provides cross segment analysis and revenue shares and sales volume across application types and distribution models and their sub-segments, based on equipment type.

The report segments the global split air conditioning systems market on the basis of various equipment types such as mono-split, multi-split, variable refrigerant flow (VRF), and floor ceiling. By different applications, the market is classified into residential, commercial and others. Each application is further sub-segmented based on equipment types. By distribution channel, the market is divided into conventional stores and company-owned stores.

This is done based on equipment types. Further, the conventional stores segment is classified into do-it-yourself (DIY) stores, furniture stores and supermarkets. This is again provided based on equipment types. Thus, the report provides in-depth cross-segment analysis for the split air conditioners market and classifies it into various levels, thereby providing valuable insights on macro as well as micro level.

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The global market for split air conditioning systems market is driven by stringent government regulations regarding energy conservation and emissions, technological developments, increased demand from the residential sector, rising consumer expectations, and strong demand from Asia Pacific. Growing awareness regarding the importance of maintaining the quality of indoor air is also generating increased demand for split air conditioning systems globally.

Moreover, ongoing trends such as the increased demand for products with green technologies, smart homes, and energy-efficient systems are also expected to provide several growth opportunities for split air conditioning systems market during the forecast period.

Transparency Market Research states that the global split air conditioning systems was valued at US$79.72 bn in 2015 and will expand at a CAGR of 5.1% from 2016 to 2024, reaching US$ 127.27 bn by the end of the forecast period. In terms of volume, the market observed shipments of 107.81 mn units across the globe in the same year.

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Europe is also expected to be a significant market for split air conditioning systems in the near future, exhibiting a 6.6% CAGR from 2016 through 2024. Increasing awareness about energy-efficient air conditioning systems will be the prominent growth driver of the Europe split air conditioning systems over the said period. Russia is expected to contribute significantly to the market’s growth owing to factors such as improving economic conditions, uncertainty in climatic changes, and growing construction activities in the residential, industrial and commercial sectors.

Some of the major players in the global split air conditioning systems market with most significant developments are Daikin Industries Ltd., Electrolux AB, The Midea Group., Carrier Corporation, Haier Electronics Group Co., Ltd., Hisense International Co. Ltd., Samsung Electronics, Hitachi Ltd., LG Electronics, Sharp Corporation, Panasonic Corporation, and Mitsubishi Corporation.

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