The global ductless heating and cooling systems market size is expected to be valued at USD 115.38 billion in 2024 and is anticipated to reach USD 168.74 billion by 2029, growing at a CAGR of 7.9% from 2024 to 2029.
Ductless heating and cooling systems are used to control humidity and air temperature, which promotes fresh air intake. The demand for these is growing across the world with the increasing prominence of smart homes. For instance, in 2023, around 300 million smart homes were built across the world. Out of these, 63.43 million smart homes are actively using ductless heating and cooling systems in the US alone. This activity is mainly to fuel the growth rate of the market.
Also, these systems are highly effective in saving power, where the growing demand for the adoption of energy-efficient devices is prompting the market growth rate. The Energy Star-certified ductless mini-split systems are proven to use less energy when compared with conventional room conditioners. Roughly, these systems use 60% less energy for heating and 30% less for cooling.
In addition, increasing disposable income in developed and developing countries is elevating the growth rate of the ductless heating and cooling systems market. The trend towards adoption of advanced HVAC structures and rapidly increasing per capita income in major countries is to gear up the demand for the market.
Key players are investing huge amounts to launch innovative products with the latest technology. These products are highly efficient and consume less power. With the growing demand for less power consumption systems, the demand for the ductless heating and cooling systems market is growing eventually. Penetration of the Internet of Things in HVAC structures leverages system performance. These systems can share the data that is collected and stored in the cloud once connected to the internet. Hence, these advancements in the HVAC structures are set to promote the market value in the coming years.
Stringent rules and regulations by the government to reduce carbon emissions are eventually pressuring the development of refrigerators and ACs to emit less carbon. These rules are quite challenging for the market key players to manufacture efficient systems at lower costs. This factor is attributed to hindering the growth rate of the market. Also, the high cost of the advanced systems due to fluctuations in the prices of the raw materials degrades the market growth rate.
Global warming has become one of the major concerns for the whole world due to the rising temperatures. With the increasing temperature, the demand to buy AC around the world is rising. This is anticipated to fuel the demand for ductless heating and cooling systems at a robust rate in the coming years. According to the International Energy Agency, around 15-20 % AC sales have been increased from 2021. The increasing sales of air conditioning worldwide propel the demand for the adoption of ductless heating and cooling systems at any cost.
Easy availability of alternate innovative products at lower cost and less awareness of the benefits of ductless heating and cooling systems are key challenging factors for the market to grow during the forecast period.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
7.9% |
Segments Covered |
By Type, Application, and Region. |
Various Analyses Covered |
Global, Regional, and Country Level Analysis; Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), Blue Star (India), LG Electronics (South Korea), Voltas (India), Haier (China), Carrier (U.S.), United Technologies Corporation (U.S.), Johnson Controls (U.S.). |
The Split System segment is leading with the dominant share of the ductless heating and cooling systems market, whereas the window air conditioning systems segment is to have a slower growth rate during the forecast period.
With the increasing prominence of adopting the latest technologies in both developed and developing countries, the demand for split systems is growing at a higher rate. Window air conditioning systems are a bit noisy and need more space, which is why the growth rate for this segment is growing at a slower rate.
The commercial building segment is leading with the dominant share of the market. Increasing focus on the adoption of the centralized AC with the latest features is attributed to gearing up the demand for this segment.
The residential buildings segment is expected to grow at a higher CAGR during the forecast period with the growing expenditure on luxurious smart homes. People nowadays are gaining knowledge on reducing their carbon footprints through social media, which is surging the demand for these systems in residential buildings.
The industrial buildings segment is likely to have the fastest growth rate in the foreseen years. In order to reduce the high energy consumption in industries, rapid urbanization is prompting the demand for this segment.
The North American ductless heating and cooling systems market is ruling with the largest share due to the constantly growing demand for the construction of smart homes. The US and Canada are the major countries contributing the dominant share of the market with the rapid adoption of new technologies. Continuous focus on the development of innovative products to meet industry standards using advanced technology is attributed to the prompting of market demand in the US. Changes in lifestyles and the growing prevalence of the construction of smart homes so as to inhale fresh air in closed rooms are outraging the market value in the US. In the US, space heating and cooling systems use more than half of the energy, which is influencing people to adopt these technologies in residential areas in the coming years.
Followed by North America, Europe is next in leading the highest share of the market. The rapidly growing urban population is certainly a major factor for the market to grow in the European region. Variable climatic conditions due to global warming also affect the adoption of air conditioners in many places, which potentially promotes market demand. The UK and Germany had the highest growth rate in the market during the forecast period. Increased demand for a pleasant interior environment among people is additionally to prompt the market growth rate in these countries.
Asia Pacific's ductless heating and cooling systems market is likely to hit the highest CAGR by 2028. The growing population and increasing awareness of the adoption of smart homes and their benefits are majorly contributing to the market growth rate in Asia Pacific. China is one of the countries that has had the highest market share in the past few years. In China, 78.42 million users are actively using smart home technologies, which is enhancing the demand for the market. India and Japan are next, having the fastest growth rate in the market.
Latin America and Middle East & Africa are to have significant growth opportunities in the near future. Growing support from the government authorities to leverage the industrial area is likely to fuel the demand of the market in these regions.
Some of the major players in the ductless heating & cooling systems market are
Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), Blue Star (India), LG Electronics (South Korea), Voltas (India), Haier (China), Carrier (U.S.), United Technologies Corporation (U.S.), Johnson Controls (U.S.). They are playing a dominant role in the global ductless and cooling systems market.
By Type
By Application
By Region
Frequently Asked Questions
The size of the ductless heating and cooling systems market is expected to be valued at USD 106.93 in 2023.
The ductless heating and cooling systems market will be growing at a CAGR of 7.9% during the forecast period from 2023 to 2028.
Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), Blue Star (India), LG Electronics (South Korea), Voltas (India), Haier (China), Carrier (U.S.), United Technologies Corporation (U.S.), Johnson Controls (U.S.)
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