Ductless Heating And Cooling Systems Global Market Report 2024

Ductless heating and cooling systems are essential for temperature control, optimizing airflow, and ensuring comfortable indoor environments. They present a cost-effective alternative to central HVAC installations, especially in spaces without existing ductwork, surpassing the convenience of single-room heaters and window air conditioners. These systems deliver superior control, energy efficiency, and enhanced air quality, thereby elevating the overall efficiency and comfort of indoor spaces.

Key variations of ductless heating and cooling systems include cooling-only split systems, heat pumps, chilled water systems, and window air conditioners. Cooling-only split systems comprise interconnected indoor and outdoor units through copper tubing. Split systems commonly feature an external heat pump or air conditioner, paired with an internal gas furnace or fan coil. Widely applicable in residential, commercial, and industrial settings, these ductless systems offer versatile solutions for temperature regulation.

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 ductless heating and cooling systems market size has grown strongly in recent years. It will grow from $78.63 billion in 2023 to $86.34 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed in the historical period can be attributed to several factors, including the implementation of energy efficiency regulations, a heightened awareness of environmental sustainability and energy conservation, a surge in the construction industry, fluctuations in energy prices, and government incentives.

The ductless heating and cooling systems market size is expected to see strong growth in the next few years. It will grow to $123.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period is driven by various factors, including initiatives for climate change mitigation and the imperative for energy-efficient buildings. Additionally, the increasing adoption of green building certifications and standards, ongoing research and development in sustainable materials, a rising demand for passive house and zero-energy building designs, and the ongoing trends of urbanization and population growth contribute to this growth. Noteworthy trends expected in the forecast period encompass the prevalence of smart and Wi-Fi-enabled systems, a focus on sustainability and the use of eco-friendly refrigerants, the integration of inverter technology, the popularity of ductless mini-split systems, and advancements in heat pump technology.

The ductless heating and cooling systems market is set to benefit significantly from the escalating prevalence of smart homes. The proliferation of smart homes empowers consumers with greater control over their energy consumption by automating tasks related to temperature regulation, lighting control, window treatments, and weather-dependent watering adjustments. This enhanced control not only ensures optimized electricity usage but also results in reduced power and water bills. A 2022 survey conducted by Oberlo, a Lithuania-based software development company, reveals a notable increase in the adoption of smart home devices in the United States. The data indicates that approximately 57.4 million households in the country, reflecting a 6.7% rise from 2021, are actively utilizing smart home devices. This growing smart home trend is expected to be a key driver for the ductless heating and cooling systems market throughout the forecast period.

The ductless heating and cooling systems market is anticipated to experience significant growth, propelled by the escalating demand for cooling systems within the automotive industry. Cooling systems, synonymous with air conditioning or refrigeration systems, play a pivotal role in regulating the temperature of various components in automobiles, ensuring optimal engine performance. According to a May 2023 report from the European Automobile Manufacturers Association (ACEA), a Belgium-based association representing the automotive industry in the European Union, global motor vehicle production witnessed a notable increase in 2022. The report states that 85.4 million motor vehicles were produced worldwide, marking a 5.7% rise compared to the previous year. This surge in the usage of cooling systems within the automotive sector is expected to be a key driver for the ductless heating and cooling systems market in the forecast period.

The ductless heating and cooling systems market is witnessing a significant trend towards technological innovation, as major companies strive to enhance their market presence by offering advanced devices. These companies are actively incorporating next-generation technologies, including automation, Internet of Things (IoT), advanced control algorithms, inverter-driven compressors, and intelligent valves. These advancements enable independent control of humidity and temperature, while also eliminating the use of environmentally hazardous refrigerants. A notable example is Carrier, a US-based home appliance company, which, in March 2021, introduced a range of fully communicative ductless heating and cooling products. This includes the Performance Series high wall ductless system, featuring the 40MAHB indoor unit, the 38MARB outdoor unit, and the multi-poise 40MBAA air handler, showcasing the integration of cutting-edge technologies for enhanced versatility and energy efficiency.

Major players in the ductless heating and cooling systems market are strategically focusing on developing innovative products equipped with advanced technologies to fortify their market positions. One such breakthrough technology is microconvective liquid cooling, which utilizes small jets of high-velocity fluid to cool high-power devices in various industries. JetCool Technologies Inc., a US-based company specializing in microconvective liquid cooling solutions, launched its SmartPlate System at the 2022 Open Compute Project Global Summit. This chassis-level, closed-loop, direct-to-chip water cooling solution is designed to enhance efficiency in data center operations. The SmartPlate System offers exceptional cooling performance for the latest generation of high-performance processors and GPUs, employing JetCool's patented microconvective cooling. This technology ensures unparalleled cooling performance and reliability for demanding applications, with a design that facilitates easy integration and installation, eliminating the need for external plumbing or additional infrastructure.

In a strategic move in June 2021, Carrier Global, a US-based home appliances corporation, successfully acquired Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co. Ltd. This acquisition positions Carrier to tap into the rapidly expanding variable refrigerant flow (VRF) and light commercial markets. Guangdong Giwee Group, a China-based heating, ventilation, and air conditioning manufacturer, strengthens Carrier's portfolio and market presence in the evolving HVAC landscape.

Major companies operating in the ductless heating and cooling systems market include Daikin Industries Ltd., Fujitsu General Ltd., Hitachi Ltd., Lucky Goldstar Electronics Corp., Johnson Controls International PLC, Carrier Global Corporation, Trane Technologies PLC, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Nortek Air Solutions LLC, Samsung Electronics Co. Ltd., GREE Electric Appliances Inc. of Zhuhai, Midea Group Co. Ltd., Panasonic Corporation, Haier Smart Home Co. Ltd., Whirlpool Corporation, Electrolux AB, Lennox International Inc., Rheem Manufacturing Company, Pioneer Air Conditioning & Heating Co., Mirage HVAC Systems Inc., Carrier Enterprise LLC, Friedrich Air Conditioning Co. Ltd., Gree USA Inc., LG HVAC, Senville, Air-Con International Inc., Cooper&Hunter International Corporation, YMGI Group

Asia-Pacific was the largest region in the ductless heating and cooling system market in 2023. The regions covered in the ductless heating and cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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.

The ductless heating and cooling system market consists of sales of single zone and multi zone units. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.