Ductless HVAC Market Heating Up
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Thanks to factors such as lower operating cost, increasing spending capacities of consumers in emerging economies, infrastructure development across various countries, and growing demand for energy efficient devices, the global market for ductless heating and cooling systems will grow through 2025.
A new report by TMR Research, titled “Ductless Heating and Cooling Systems Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” offers a 360-degree assessment of the various factors affecting the market’s trajectory.
High initial cost and lower capacity than ducted air conditioners are few of the challenges the market is facing. However, trends such as growing concern for indoor air quality and growing use of ecofriendly refrigerant are expected to help the market sustain its growth rate. The augmented demand for ductless heating and cooling systems from the construction industry is most likely to fuel the market.
The construction industry in emerging economies is foreseen to grow exponentially over the next few years, further helping the market for ductless systems to expand. The recent technological advancements and development of new products are promising new opportunities for the market growth. Numerous players operating in this market are focusing on innovation to build new designs for this system, which is attracting more consumers.
Furthermore, the increasing disposable income of consumers is motivating them to enhance their lifestyles by buying advanced products. This is expected to accelerate growth of the market. The research report has provided an in-depth analysis of the market, focusing on the prominent growth factors that are estimated to escalate the market growth.
This study presents projected market values for the global market over the forthcoming years. Moreover, several segments are provided, for which estimated market shares are evaluated to present an in-depth summary of the market. Top qualified authors of this report have followed proven methodologies for fabrication of the report. Data from both primary and secondary sources have been considered to make projections more reliable and accurate.
On the basis of application, the residential building segment is expected to expand significantly over the forecast period. Residential building includes numerous types of structures such as condominiums, cottages, houses, and apartments. In these types of buildings, ductless heating and cooling systems are utilized to maintain the room temperature. As these systems consume less energy and are easy to install, their demand from this segment is increasing continuously. Market values and market shares of these segments are calculated and presented comprehensively in this report. This allows readers to compare growth trajectories of these segments and identify the most suitable sector for their future strategies. Trends and factors that are assisting the expansion of each of these segments are also covered, which will help market investors to get strong understandings of these segments.
The global market for ductless heating and cooling systems is further split on the basis of geography, to offer regional analysis of the market. Key regions such as Latin America, North America, Asia Pacific, and the Middle East and Africa have been considered for this study.
In 2015, Asia Pacific dominated the global market and is expected to sustain its leading position over the forecast period. The economic growth in several developing countries, tremendously rising population, and contribution of countries such as Indonesia, Japan, South Korea, Malaysia, Japan, China, and India are contributing to the expansion of this region. The report also covers competitive analysis, in which companies such as Hitachi, Ltd., Mitsubishi Electric Corporation, United Technologies Corporation, Johnson Controls, Electrolux, Trane, Whirlpool Corporation, Samsung Electronics Co., Ltd., LG Electronics, and Daikin Industries Ltd. have been included.
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Topics: Architectural Firms, Building Owners and Managers, Energy Saving Products, HVAC - Heating, Cooling, and Ventilation, Indoor Air Quality (IAQ), Interiors, Renovation / Restoration / Remodeling, Technology, Ventilation