Ductless Heating & Cooling System Market to Aggregate at a CAGR of 8.1%, to be Worth Nearly US$ 194.14 Billion end of 2022-2030

Market for ductless heating and cooling systems

According to a new study by Polaris Market Research, the global market for ductless heating and cooling systems is expected to reach $194.14 billion by 2030.

Demand for energy storage technologies such as ductless heating and cooling systems is expected to grow at a healthy pace in the coming years as weather conditions around the world change dramatically. For example, according to the NASA report, the Intergovernmental Panel on Climate Change (IPCC) has forecast a temperature rise of 2.5 to 10 degrees Fahrenheit over the next decade. Going forward, this will continue to create growth potential in areas such as cooling management structures, ducted heating and cooling systems, and refrigeration equipment.

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Also, according to the World Metrological Organization, in October 2021, unprecedented atmospheric greenhouse gases and associated heat accumulation pushed the globe into uncharted territory, with far-reaching consequences for present and future generations. The average global temperature in 2021 was about 1.09°C higher than the 1850-1900 average. The six data sets considered in this analysis now position 2021 as the seventh warmest year.

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Additionally, several significant players in the market are now focusing their efforts on forming effective expansions and collaborations to expand their respective customer bases. In January 2022, Sila Services, LLC expanded its New England area business with the acquisition of Boston Standard Company and New England Ductless.

Boston Standard and New England Ductless are award-winning industry experts in plumbing, refrigeration and heating. New England’s contributions have added up and Sila has made its expertise in ductless heating compressors available. As a result of serving customers on both a global and national basis, companies will be able to expand their target base.

In terms of type, the split system segment had the leading market share. Due to their lower capacity and operating costs, mini-split ductless heating and cooling structures are becoming increasingly popular in residential settings. Ductless heating mini-split systems use an estimated 60% less energy for heating and 30% less energy for cooling than traditional room air conditioners.

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Market players like DAIKIN Industries, Carrier, Electrolux, Haier Smart Home, FUJITSU, Hitachi, Honeywell International Inc., Nortek Air Management, LG Electronics, Lennox, Mitsubishi Electric Corporation, Samsung Electronics, Panasonic and Whirlpool are some of the major players in the global market. In January 2021, Carrier introduced a new Toshiba Carrier touchscreen controller for VRF systems, capable of connecting up to 128 indoor units to a simple interface.

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Polaris Market Research has segmented the Ductless Heating and Cooling Systems market report by Type, Application, and Region:

Ductless Heating and Cooling Systems, Outlook Type (Revenue – $Bn, 2018-2030)

  • split system
    • Mini split system
    • Multi split system
    • VRF system
  • window air conditioner
  • heat pump
  • cooling water systems
  • Other
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Ductless Heating and Cooling Systems Application Outlook (Revenue – $M, 2018 – 2030)

  • residential building
  • commercial buildings
  • industrial building

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