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Future of the Ductless Heating And Cooling Systems Market: Trends, Innovations, and Key Forecasts Through 2034
Ductless Heating And Cooling Systems
Ductless Heating And Cooling Systems Market Size Growth Forecast: What to Expect by 2025?
There has been a robust expansion of the market size for ductless heating and cooling systems in the past few years. The market is slated to flourish from $85.64 billion in 2024 to $93.05 billion in 2025, maintaining a compound annual growth rate (CAGR) of 8.6%. Historical growth is linked to elements such as regulations for energy efficiency, heightened cognizance regarding environmental sustainability and energy preservation, acceleration in the construction industry, shifting energy costs, and governmental inducements.
How Will the Ductless Heating And Cooling Systems Market Size Evolve and Grow by 2029?
The market for ductless heating and cooling systems is projected to flourish in the upcoming years, reaching a value of $133.08 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.4%. The substantial growth forecasted for the mentioned period can be linked to several factors such as efforts to reduce the impacts of climate change, demand for energy-efficient infrastructure, the rise in the implementation of green building standards and certifications, advancements in sustainable material R&D, an increasing inclination towards passive house and zero-energy architectural designs, and the fast-paced urban and population growth. The key trends predicted to dominate the forecast period entail wi-fi-enabled and intelligent systems, eco-friendly and sustainable refrigerants, ductless mini-split systems, inverter technology, and heat pump technology.
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What Drivers Are Propelling the Growth of Ductless Heating And Cooling Systems Market Forward?
The expansion of the ductless heating and cooling systems market is anticipated to be driven by the rising number of smart homes. These technologically advanced homes allow users to better manage their home's energy usage by automating functions such as temperature regulation, light control, window covering operation, and weather-based watering adjustments, all of which contribute to electricity conservation and reductions in power and water bills. Oberlo, a software development firm based in Lithuania, found in a 2022 survey that the number of US households using smart home devices had increased by 6.7% from 2021, with 57.4 million households now adopting these technologies, compared to 53.8 million the previous year. This surge in smart home adoption is projected to stimulate the growth of the ductless heating and cooling systems market in the years ahead.
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What Are the Key Trends Driving Ductless Heating And Cooling Systems Market Growth?
Leading players in the Ductless Heating and Cooling Systems market are concentrating their efforts on the evolution of groundbreaking solutions, such as ductless heat pumps, to improve energy efficiency and offer versatile temperature regulation in both residential and commercial settings. Ductless heat pump systems epitomize energy-saving heating and cooling solutions comprising an external unit and one or many indoor units, thereby offering pliable climate regulation without ductwork, allowing for area-specific temperature control and bettering indoor air purity. For instance, Quilt, a tech-based HVAC company in the USA, in May 2024, introduced a pioneering ductless heat pump system designed for contemporary home climate control, showcasing tailor-made indoor units exhibiting stylish aesthetics and cutting-edge technology. The system employs millimeter-wave radar sensors for identifying occupancy, permitting efficient temperature regulation on a room-by-room basis through a smartphone application or a specialized remote. The impressively energy efficient Quilt heat pump (SEER2 25 and HSPF2 12), capable of functioning effectively even under extreme temperatures, comes with a price tag of $6,499 per room, inclusive of installation.
What Are the Key Segments in the Ductless Heating And Cooling Systems Market?
The ductless heating and cooling systems market covered in this report is segmented -
1) By Type: Cooling Only Split System, Heat Pump, Chilled Water System, Window Air Conditioners
2) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Cooling Only Split System: Mini-Split Cooling Systems, Multi-Split Cooling Systems
2) By Heat Pump: Ductless Mini-Split Heat Pumps, Ductless Multi-Split Heat Pumps, Ground Source Heat Pumps
3) By Chilled Water System: Chilled Water Fan Coil Units, Chilled Water Terminal Units
4) By Window Air Conditioners: Standard Window Units, Energy-Efficient Window Units, Smart Window Air Conditioners
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Who Are the Key Players Shaping the Ductless Heating And Cooling Systems Market's Competitive Landscape?
Major companies operating in the ductless heating and cooling systems market include Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., Johnson Controls International PLC, Carrier Global Corporation, Trane Technologies plc, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Nortek Air Solutions LLC, Samsung Electronics Co. Ltd., GREE Electric Appliances Inc. of Zhuhai, Midea Group Co. Ltd., Panasonic Corporation, Haier Smart Home Co. Ltd., Electrolux AB, Lennox International Inc., Rheem Manufacturing Company, Pioneer Air Conditioning & Heating Co., Mirage HVAC Systems Inc., Friedrich Air Conditioning Co. Ltd., LG HVAC, Senville, Air-Con International Inc., Cooper&Hunter International Corporation, YMGI Group
What Geographic Markets Are Powering Growth in the Ductless Heating And Cooling Systems Market?
Asia-Pacific was the largest region in the ductless heating and cooling system market in 2024. The regions covered in the ductless heating and cooling systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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