New York, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ductless Heating And Cooling Systems Global Market Report 2022" - https://www.reportlinker.com/p06320098/?utm_source=GNW
O Smith Water Products Company B.V, Nortek Air Solutions, LLC and Haier Smart Home.
The global ductless heating and cooling system market is expected to grow from $67.70 billion in 2021 to $73.22 billion in 2022 at a compound annual growth rate (CAGR) of 8.16%. The ductless heating and cooling system market is expected to reach $106.43 billion in 2026 at a compound annual growth rate (CAGR) of 9.80%.
The ductless heating and cooling system market consists of sales of ductless heating and cooling systems by entities (organizations, sole traders, and partnerships) that are used to control air temperature, resulting in better airflow and more comfortable temperatures.These systems are less expensive than installing central heating and air conditioning with no existing ducts and are handier than single-room heaters and window air conditioners.
It offers varied control, energy savings, and improved air quality, enabling it to increase the efficiency and comfort of indoor environments.
The main types of ductless heating and cooling systems are cooling only split system, heat pump, chilled water system and window air conditioners.The cooling only split system are an HVAC system that includes indoor and outdoor units linked by copper tubing.
Split systems have a heat pump or air conditioner installed outside the home and a gas furnace or a fan coil inside. These ductless heating and cooling systems are commonly used in residential, commercial and industrial areas.
Asia-Pacific was the largest region in the ductless heating and cooling system market in 2021. The regions covered in the ductless heating and cooling system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The ductless heating and cooling systems market research report is one of a series of new reports that provides ductless heating and cooling systems market statistics, including ductless heating and cooling systems industry global market size, regional shares, competitors with a ductless heating and cooling systems market share, detailed ductless heating and cooling systems market segments, market trends and opportunities, and any further data you may need to thrive in the ductless heating and cooling systems industry. This ductless heating and cooling systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing number of smart homes is expected to significantly contribute to the growth of the ductless heating and cooling systems market.Smart homes give customers more control over home energy consumption by automating tasks such as regulating temperature, turning on/off lights, opening and shutting window treatments, and adjusting watering based on weather.
These facilities ensure to save electricity and reduce power and water bills. For instance, according to a survey by Oberlo, a Lithuania-based software development company, in 2022, nearly 57.4 million households in the US are currently using smart home devices, which is a 6.7% increase from 2021 where the number was 53.8 million households using smart home devices. Therefore, the growing number of smart homes will drive the ductless heating and cooling system market.
Technological innovation is a key trend gaining popularity in the ductless heating and cooling systems market.Major companies operating in the ductless heating and cooling systems market are focused on providing technologically-advanced devices to strengthen their market position.
These companies are implementing next-generation technologies into their devices and framework, such as automation, Internet of Things, advanced control algorithms, inverter-driven compressors, intelligent valves, and others to provide independent humidity and temperature control while eliminating the need for environmentally hazardous refrigerants.For instance, in March 2021, Carrier, a US-based home appliance company introduced new ductless heating and cooling products that are fully communicative to provide versatility and energy efficiency.
These ductless heating and cooling systems include a wireless remote controller, an optional cable remote controller, a 24V interface, and a Wi-Fi kit.
In June 2021, Carrier Global, a US-based home appliances corporation, acquired Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co. Ltd., for an undisclosed amount. With this acquisition, Carrier will access the fast-increasing variable refrigerant flow (VRF) and light commercial markets. Guangdong Giwee Group is a China-based heating, ventilation, and air conditioning manufacturer.
The countries covered in the ductless heating and cooling system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06320098/?utm_source=GNW
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