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Ductless Hvac System Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Ductless HVAC System Market Analysis
1. Market Size & CAGR of Ductless HVAC System Market in 2021
The global ductless HVAC system market is projected to have a growth rate of 5.2% CAGR from 2021 to 2025. The market size is expected to reach USD 23.4 billion by 2025.
2. COVID-19 Impact on the Ductless HVAC System Market
The COVID-19 pandemic has significantly impacted the ductless HVAC system market. With lockdowns and restrictions in place, the installation and maintenance of HVAC systems faced challenges. However, the market has shown resilience as remote work trends increased the demand for efficient home cooling and heating solutions.
3. Ductless HVAC System Dynamics
The ductless HVAC system market is driven by factors such as energy efficiency, ease of installation, and increasing awareness of indoor air quality. The growing trend of smart homes and sustainable living also contributes to the market growth.
4. Segments and Related Analysis
4.1 Types of Ductless HVAC Systems
The ductless HVAC system market can be segmented into single-zone and multi-zone systems. Single-zone systems are suitable for individual rooms, while multi-zone systems can cool or heat multiple rooms independently.
4.2 Applications of Ductless HVAC Systems
Ductless HVAC systems are commonly used in residential, commercial, and industrial settings. Residential applications include apartments, single-family homes, and condominiums.
5. By Region Analysis
The ductless HVAC system market in North America is expected to dominate the global market share due to the high adoption rate of HVAC systems in the region. The Asia-Pacific region is projected to witness significant growth in the coming years.
6. Key Market Players and Competitive Landscape
Key market players in the ductless HVAC system market include Mitsubishi Electric, Daikin Industries, LG Electronics, Fujitsu General, and Panasonic Corporation. These companies focus on product innovation and strategic partnerships to maintain a competitive edge.
7. Recent Happenings in the Ductless HVAC System Market
In a recent development, Mitsubishi Electric introduced a new line of energy-efficient ductless HVAC systems designed to meet the growing demand for eco-friendly cooling and heating solutions.
Daikin Industries announced a strategic collaboration with leading industry players to develop advanced air purification technologies integrated into their ductless HVAC systems.
LG Electronics launched a series of smart ductless HVAC systems equipped with Wi-Fi connectivity and voice control features, catering to the increasing trend of smart home automation.
