Ductless Heating and Cooling Systems Market Demonstrates Impressive Growth

The Business Research Company's Ductless Heating and Cooling Systems Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 23, 2023 /EINPresswire.com/ -- The global ductless heating and cooling systems market exhibited substantial growth, increasing from $71.67 billion in 2022 to $77.62 billion in 2023, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 8.3%. Projections suggest continued expansion, with the market size anticipated to reach $111.39 billion by 2027, maintaining a robust CAGR of 9.5%.

Key Driver: Surge in Smart Homes
A significant contributor to the growth of the ductless heating and cooling systems market is the escalating number of smart homes. The proliferation of smart homes empowers consumers with greater control over energy consumption by automating various tasks, including temperature regulation, lighting control, window treatment adjustments, and weather-based watering. This automation not only enhances convenience but also leads to energy savings, contributing to reduced power and water bills. A survey by Oberlo revealed that in 2022, approximately 57.4 million households in the US utilized smart home devices, marking a 6.7% increase from the previous year. The growing prevalence of smart homes is poised to be a driving force for the ductless heating and cooling systems market.

For a detailed analysis of the global ductless heating and cooling systems market, refer to our comprehensive sample report:
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Market Leaders Shaping the Landscape
Major players influencing the ductless heating and cooling systems market include Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., LG Electronics Corp, Johnson Controls International, Carrier Global Corporation, Whirlpool Corporation, Mitsubishi Electric Corporation, Samsung Electronics Co Ltd., Trane Technologies plc, Electrolux AG, Ingersoll-Rand plc, Emerson Electric Co, Honeywell International Inc., Lennox International Inc., A.O Smith Water Products Company B.V, Nortek Air Solutions, LLC, and Haier Smart Home.

Technological Advancements Drive Market Trends
Technological innovation is a prominent trend in the ductless heating and cooling systems market, with companies focusing on delivering advanced devices to fortify their market presence. Incorporating next-generation technologies such as automation, Internet of Things (IoT), advanced control algorithms, inverter-driven compressors, intelligent valves, and others is a strategic move. For example, in March 2021, Carrier introduced new ductless heating and cooling products featuring full communication capabilities for enhanced versatility and energy efficiency. These systems include wireless remote controllers, optional cable remote controllers, a 24V interface, and a Wi-Fi kit.

Regional Dynamics and Market Segmentation
Asia-Pacific emerged as the largest region in the ductless heating and cooling systems market in 2022, with robust growth expected in North America, which is anticipated to be the fastest-growing region in the forecast period. The comprehensive market segmentation covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The global ductless heating and cooling systems market is segmented -
1) By Type: Cooling Only Split System, Heat Pump, Chilled Water System, Window Air Conditioners
2) By Application: Residential, Commercial, Industrial

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Ductless Heating And Cooling Systems Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ductless Heating And Cooling Systems Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on ductless heating and cooling systems market size, ductless heating and cooling systems market drivers and trends, ductless heating and cooling systems market major players, ductless heating and cooling systems market competitors' revenues, market positioning, and market growth across geographies. The ductless heating and cooling systems market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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