Ductless Heating & Cooling Systems Market By Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast To 2021 - Research And Markets
DUBLIN, November 4, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021" report to their offering.
The global ductless heating & cooling systems market is projected to reach USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021. Ductless heating & cooling systems are experiencing a high demand from the construction sector in the Asia-Pacific region. Expansions and new product development activities related to the development more energy efficient solutions undertaken by different companies are the key factors driving the growth of the global ductless heating & cooling systems market. The split systems are expected to be the leading type of ductless heating & cooling systems from 2016 to 2021. Split systems allow the user to control the temperature of individual zones as per need. This gives the user the flexibility of operation and provides saving in operating cost. The major benefit of the split system is the low noise level of the system. Split systems are mainly used in schools, hotels, hospitals, supermarkets, and residential buildings. The growth of the commercial sector will also drive the split systems market during the forecast period. The residential buildings segment is the largest as well as the fastest-growing application of the ductless heating & cooling systems globally. Residential buildings are major consumers of the ductless heating & cooling systems industry owing to the low energy consumption of the system as compared to the ducted system and the easy installation mechanism.