The market for ductless heating and cooling systems market was valued at USD 99.3 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% over the course of the forecast period. IoT has become more popular in both residential and business settings as a result of its integration with ductless heating and cooling systems. Traditional HVAC systems are less energy-efficient than ductless systems. The market is expanding as a result of rising demand for residential and commercial systems.
The market is expanding due to customer demand for low-carbon and environmentally friendly HVAC systems. IoT-enabled ductless systems and smart thermostats provide remote control and monitoring.
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Growth Drivers
Adoption of eco-friendly and energy-efficient technology is pushed by growing environmental restrictions and concerns. Utilizing R-32/R-410A refrigerants with inverter technology increases efficiency and lowers carbon emissions. Due to their ease of installation, ductless systems are preferred in high-rise structures and city expansions.
Increasing demand for house cooling and heating is driving growth in the market substantially. The main drivers of the market's notable expansion are government incentives and the rising demand for smart homes. Ductless systems are being adopted more slowly by industrial buildings than by residential ones. Large areas benefit from multi-zone capabilities, but because of the high upfront expenditures, adoption is slower than in the residential segment.
Segmentation
Ductless Heating & Cooling Systems Market by Type:
· Split System
o Mini Split System
o Multi Split System
o VRF System
· Window Air Conditioning System
Ductless Heating & Cooling Systems Market by Application:
· Residential Buildings
· Commercial Buildings
· Industrial Buildings
By Region
· Asia-Pacific
· North America
· Latin America
· Middle East and Africa
· Europe
Key Players
· Carrier
· Honeywell International Inc.
· Mitsubishi Electric Corporation
· Nortek Air Management
· Samsung Electronics
· FUJITSU
· GREE
· Hitachi
· Midea
· Panasonic
· Electrolux
· Lennox
· Other Players
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