Residential Ductless Split AC Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Residential Ductless Split AC Market reached USD 19.9 billion in 2023 and is projected to register a 4.5% CAGR from 2024 to 2032. Ductless split AC systems are celebrated for their energy efficiency, largely due to inverter technology, which adjusts compressor speed to maintain the desired temperature, leading to significant energy savings. The U.S. Department of Energy highlights that inverter-driven systems can save up to 30% on energy costs compared to traditional systems. Rising global temperatures and increased heatwaves, as reported by the World Meteorological Organization, are driving demand for these efficient cooling solutions.

The overall residential ductless split AC industry is classified based on the type, installation, technology, capacity, price range, distribution channel, and region.

The market segments into single-split ACs and multi-split ACs. The single split segment generated around USD 11 billion in 2023 and is expected to reach USD 14.5 billion by 2032. Single split ACs, equipped with inverter compressors, offer enhanced energy efficiency and lower upfront costs, making them attractive to budget-conscious consumers. Modern single-split ACs also feature smart technologies like Wi-Fi connectivity and home automation integration. These systems are easier to install and maintain compared to multi-split units, making them ideal for smaller spaces. Additionally, the growing demand for energy-efficient home appliances is expected to further boost the segment's growth.

Based on installation, the market is divided into wall-mounted and floor-mounted segments. Wall-mounted systems held a 67% market share in 2023. These systems offer straightforward installation and are suitable for both new constructions and retrofits. They also feature advanced air filtration and customizable cooling settings, enhancing indoor air quality and aesthetic appeal. Wall-mounted units are space-saving, making them ideal for smaller rooms and apartments, while their quiet operation is appealing for residential and office environments. Additionally, many models come with energy-saving modes and eco-friendly refrigerants, aligning with growing environmental sustainability trends.

In 2023, the Asia Pacific region led the market with a 42% share and is expected to grow over 5.8% from 2024 to 2032. Countries like India, China, and Southeast Asian nations face prolonged hot and humid weather, driving robust demand for ductless split systems. Economic growth in these regions has strengthened the middle class, increasing their purchasing power and fueling market expansion. Urbanization trends further amplify the demand for modern, energy-efficient cooling solutions. Additionally, government initiatives promoting energy-efficient appliances are encouraging the adoption of advanced cooling technologies in the region.

Product Code: 10669

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Regulatory landscape
3.3 Impact forces
- 3.3.1 Growth drivers
  - 3.3.1.1 Rising temperatures and climate change
  - 3.3.1.2 Increasing focus on renovation and retrofit projects
  - 3.3.1.3 Growing trend of smart homes
- 3.3.2 Industry pitfalls and challenges
  - 3.3.2.1 High initial cost
3.4 Technological advancements analysis
3.5 Growth potential analysis
3.6 Porter's analysis
3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023

Chapter 5 Market Estimates and Forecast, By Type 2018 - 2032, (USD Billion; Million Units)

5.1 Key trends
5.2 Single split AC
5.3 Multi split AC

Chapter 6 Market Estimates and Forecast, By Installation 2018 - 2032, (USD Billion; Million Units)

6.1 Key trends
6.2 Wall mounted
6.3 Floor mounted

Chapter 7 Market Estimates and Forecast, By Technology 2018 - 2032, (USD Billion; Million Units)

7.1 Key trends
7.2 Inverter split AC
7.3 Non-Inverter split AC

Chapter 8 Market Estimates and Forecast, By Capacity 2018 - 2032, (USD Billion; Million Units)

8.1 Key trends
8.2 Up to 1.5 Ton
8.3 1.5 Ton to 3 Ton
8.4 Above 3 Ton

Chapter 9 Market Estimates and Forecast, By Price Range 2018 - 2032, (USD Billion; Million Units)

9.1 Key trends
9.2 Low or economy
9.3 Medium
9.4 High

Chapter 10 Market Estimates and Forecast, By Distribution Channel 2018 - 2032, (USD Billion; Million Units)

10.1 Key trends
10.2 Company owned website
10.3 E- Commerce website
10.4 Factory outlets
10.5 Specialty stores
10.6 Others

Chapter 11 Market Estimates and Forecast, By Region 2018 - 2032, (USD Billion; Million Units)

11.1 Key trends
11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 Japan
- 11.4.3 India
- 11.4.4 South Korea
- 11.4.5 Australia
- 11.4.6 Malaysia
- 11.4.7 Indonesia
11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
11.6 MEA
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 South Africa

Chapter 12 Company Profiles

12.1 Carrier
12.2 DAIKIN INDUSTRIES, Ltd.
12.3 FUJITSU GENERAL
12.4 GE Appliances
12.5 GREE Comfort
12.6 Hitachi, Ltd.
12.7 Johnson Controls International plc.
12.8 LG Electronics
12.9 Mitsubishi Electric Corporation
12.10 Panasonic Corporation
12.11 Samsung HVAC, LLC .
12.12 Senville
12.13 Toshiba Heat Pumps
12.14 Trane