Split Air Conditioning Systems Market To Undertake Strapping Growth During 2021-2031

Split Air Conditioning Systems under Scrutiny for Spreading Coronavirus

Despite increasing awareness about proper ventilation in residential and commercial spaces, split air conditioning systems are under scrutiny for spreading the COVID-19. In a study published by the CDC (Centers for Disease Control and Prevention), it was found that a pre-symptomatic customer at a restaurant in China apparently infected other customers due to air swirling by air conditioners. Such findings are influencing the growth of the split air conditioning systems market.

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On the other hand, poor demand and supply sentiments are causing a slowdown in the split air conditioning systems market. Since air conditioners fall under the category of luxury goods, customers are hesitating before purchasing non-essential goods. There is a growing awareness about having 100% outside air or close to 100% outside air in commercial and residential spaces.

Energy Consumption, Environmental Impacts of Split Air Units Affecting Sales

Modern split air conditioning systems are being made available with energy-saving features that reduce the carbon footprint. Manufacturers are gaining awareness about Seasonal Energy Efficiency Ratio, which measures how well a unit will work given certain outdoor temperatures.

Asia Pacific is estimated to dominate the revenue and volume share among all regions in the split air conditioning systems market. However, concerns surrounding energy consumption and environmental impacts are affecting sales of split air conditioning systems. Hence, manufacturers are developing energy-efficient options in AC units.

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Stakeholders Offering 24/7 Service, Spare Parts Availability to Build Credibility

Easy to install and quiet features of split air conditioning systems are being preferred by customers. This explains why the global split air conditioning systems market is expected to reach US$ 202.35 Bn by 2031. Split air units have a cost advantage over window units since the former is a two-unit setup.

In order to gain a competitive edge over other manufacturers, stakeholders are offering 24/7 service and spare parts availability in case of any malfunctions.

Heinin & Hopman Engineering - an HVAC contractor in Bunschoten-Spakenburg, the Netherlands, is gaining recognition for its state-of-the-art technology in AC units that are being scaled in yachts, offshore installations, and , among others.

Modern Split AC Units Provide Style, Performance in Interior Spaces

The split air conditioning systems market is slated to register a CAGR of 5.2%, in terms of volume, during the period. Individual control, energy savings, and flexible installation with split air units have become a priority for customers. Daikin Industries, Ltd.- a Japan-based multinational air conditioning manufacturing company, is boosting its production capabilities in split and multi-split air conditioning systems that offer superior performance, energy efficiency, and comfort within stylish solutions that conform to interior spaces.

Manufacturers in the split air conditioning systems market are increasing efforts to develop an extensive product lineup that provides the perfect match of style and performance to any interior space.

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Split Air Conditioning Systems Market: Overview

According to Transparency Market Research's latest research report on the global split air conditioning systems market for the historical period of 2017, 2018, and 2019, and the forecast period of 2021-2031, increasing spending on research & development and generating awareness among consumers regarding the product are expected to accelerate the split air conditioning systems market across the globe

Split air conditioning system consists of two separate units: a compressor located outside and an inside air outlet unit. Unlike a system that requires a series of ductwork networked throughout the ceiling, split air conditioners rely on a set of pipes to connect the outdoor to the inside air unit and hence, are referred to as a ductless split air conditioner installation. This is expected to increase the demand for split air conditioning systems across the world during the forecast period.

In terms of revenue, the global split air conditioning systems market is expected to reach value of US$ 202.35 Bn by 2031, expanding at a CAGR of 6.1% during the forecast period. Split air conditioning systems have the highest energy star rating that not only enables the system to be more energy efficient, but also helps to keep the environment clean and lower the monthly power bill by consuming less energy. Thus, demand for split air conditioning systems is expected to increase across the world.

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Split Air Conditioning Systems Market: Competition Landscape

Detailed profiles of providers of split air conditioning systems have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
The split air conditioning systems market is fragmented due to the presence of several players. Competition is expected to intensify in the upcoming years due to the entry of several local players.
Key players operating in the global split air conditioning systems market are
Daikin Industries, Ltd.
GREE Electric Appliances Inc.
Haier Group Corporation
Lennox International Inc.
LG Electronics Inc.
Mitsubishi Electric Corporation
Panasonic Corporation
Samsung Electronics Co., Ltd.
Toshiba Corporation
Voltas Limited

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