Global Split Air Conditioning System Markets $ 39.68 Billion For

Dublin, December 21, 2021 (GLOBE NEWSWIRE) – The “Global Split Air Conditioning Systems Market (2021-2026) by Type, Equipment Type, Application, Distribution Channel, Geography, Competitive Analysis and Impact of Covid-19 with Ansoff Analysis” the report was added to ResearchAndMarkets.com offer.

The global split air conditioning system market is estimated to be worth USD 27.64 billion in 2021 and is projected to reach USD 39.68 billion by 2026, growing at a CAGR of 7.5%.

The global split air conditioning market is driven by factors such as rising temperatures, increasing construction of offices and smart homes, and growing adoption of IoT and green technologies. Whereas the unpredictability of raw material prices and costly routine maintenance works act as a constraint for the production of Split AC and subsequent sale in the market.

The growing middle class population and disposable income in developing countries and the fact that air conditioning is becoming a necessity rather than a luxury product provides a great opportunity for market growth. Greenhouse gas emissions and unpredictable electricity supplies in some parts of the world pose a challenge.

Market segmentation

  • By type, the market is categorized into ceiling, duct, floor and wall mounting. Among all segments, the wall segment is expected to grow at the highest CAGR.
  • By type of equipment, the market is categorized into multi-split, mini-split, VRF, ceiling to floor, and others segments. Among all segments, VRF segment is expected to grow at the highest CAGR.
  • By application, the market is categorized into residential and commercial segments. Among all, the Commercial segment is expected to contribute the highest growth.
  • By distribution channel, the market is categorized into online and offline segments. Among all segments, the offline segment is expected to grow at the highest CAGR.
  • By geography, North America is expected to dominate the market.

Recent developments

  • Carrier agrees to acquire Guangdong Giwee Group, a Chinese manufacturer of HVAC systems – April 19, 2021
  • Daikin Applied and ElitAire Combine HVAC Service Operations in Central and Southern Ohio – February 8, 2021

Market influencers

Conductors

  • Conditions for increasing temperature
  • Increased construction of offices and smart homes
  • Growing adoption of IoT and green technologies

Constraints

  • Unpredictability of commodity prices
  • Costly routine maintenance work

Opportunities

  • Rising middle class population and disposable income in developing countries
  • AC becomes a necessity rather than a luxury item

Challenges

  • Greenhouse gas emissions
  • Unpredictable electricity supply in some parts of the world

Company Profiles

Some of the companies covered in this report are

  • Carrier
  • Limited blue star
  • Haier Inc.
  • Daikin Industries, Ltd.
  • Mitsubishi electric corporation
  • LG Electronics
  • Midea Group Co., Ltd.
  • Nortek Global HVAC
  • Samsung Electronics Co., Ltd.
  • Electrolux AB
  • General Fujitsu
  • Panasonic Corporation
  • United Technologies Corp.
  • Hitachi, Ltd.
  • Trane
  • Sharp Corporation
  • Lennox International Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/366uc9


        


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