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Split Air Conditioning Systems Market Share, Trends & Market Forecast (2024-2032)
Split air conditioning systems market refers to HVAC products which involve the separation where the condenser/compressor unit is placed outside while the indoor cooling unit is inside.
IMR Group
Description
Split Air Conditioning Systems Market Synopsis
Split Air Conditioning Systems Market Size Was Valued at USD 26.96 Billion in 2023, and is Projected to Reach USD 41.97 Billion by 2032, Growing at a CAGR of 5.04% From 2024-2032..
Split air conditioning systems market refers to HVAC products which involve the separation where the condenser/compressor unit is placed outside while the indoor cooling unit is inside. These systems are energy intelligent, versatile, and designed for house, office, and factory purposes, which provide accurate temperature regulation and no interference with structures.
Splits air conditioning systems are now one of the mainstays of contemporary cooling due to the increase in temperature around the world, new constructions, and the search for efficient HVAC equipment. Unlike the conventional systems, split air conditioners have customized comfort solutions depending on the rooms and thus used in residential, commercial, and industrial uses. The portability, mobility, and compatibility with other modern devices such as IoT and smart home devices explain why everyone loves them.
The global market for air conditioning is categorized by products into mini-split systems, multi-split systems, and VRF systems. The two types are designed to meet users’ needs regarding individual homes, medium-sized apartments, and large commercial buildings. Likewise, the applications span across personal home conditioning to the control of thermal loads in commercial and industrial buildings. PE is on the rise amongst emerging economies due to rising personal disposable income, enhanced standard of living, and enhanced infrastructural development.
Market Trend Analysis
Integration with Smart Technologies
The connection of split air conditioning systems with smart technologies is redesigning the overall market. Many of these systems include controls integrated with IoT that enable users to control temperature via their smartphones or through home voice assistants. This trend is improving user experience and allow the optimization of energy usage.
Furthermore, manufacturers are trying to use AI to create learning cool systems that are able to predict user preferences and environmental conditions to work smarter. Integrated into these systems are smart diagnostics that provide a means for efficient predictive maintenance, cutting on downtime, and repair expenses. This integration into smart home ecosystems also benefits user experience in addition to stressing on energy efficiency, an issue that is of great concern worldwide now.
Growth in Emerging Economies
New economy countries in Asia-Pacific, Latin America and Africa offer considerable opportunities in split air conditioning systems market. Population growth in urban areas, enhancing standard of living, and growth of disposable income make these regions call for contemporary cooling. On the demand side, government arte investment in most sectors with special emphasis on infrastructure developments especially the constructions of residential and commercial buildings fuel market growth.
Further it has a constant demand due to the warm climate characterizing tropical region all year round thus the constant need for cooling solutions. Because costs are still a strong driver, manufacturers can leverage themselves to bring in cheaper, more efficient models to these segments. Some of the growth opportunities that may be extended to AUC to achieve the next level of success include; If AUC explores opportunities for cooperation with local distributors and governments to advance sustainable cooling, improved solutions will come to the fore.
Split Air Conditioning Systems Market Segment Analysis:
Split Air Conditioning Systems Market Segmented on the basis of Product Type, Capacity, Application, and Distribution Channel .
By Product Type, Mini-Split Systems segment is expected to dominate the market during the forecast period
In-split systems, there exists mini-split, multi-split and Variable Refrigerant Flow otherwise known as VRF systems. Mini split systems are most popular in the residential market because of its cheap and easy to install the system and perfect for single houses and small offices. Specifically multiple-split systems used for cooling numerous zones are in demand in medium-sized commercial facilities.
VRF systems serve as big applications like malls, hotels, and industries. Being known for their ability to maintain very stable temperatures and being energy-efficient, they are slowly finding their way into being regarded as popular equipment especially for commercial oriented developers. Such systems are highly flexible and may be further scaled to become one of the main growth segments.
By Application, Residential segment expected to held the largest share
Currently, the residential segment sits atop the market due to increasing urbanization rates, higher disposal incomes per capita and wider use of energy efficient home appliances. Availability of urban, compact and smart spaces also increases relevance of split systems in this category.
The commercial and industrial categories are growing rapidly due to development in infrastructures as well as the demand of cooling systems in workplaces, industries and data centers. Commercial buildings especially get value out of the VRF systems because of the facility of efficiency and regulation of temperature in industrial conditions.
Split Air Conditioning Systems Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
Asia-Pacific is one of the largest and the fastest-growing markets in split air conditioning systems. This is because countries such as China, India and members of the southeast Asia region are experiencing rapid growth in urbanization, industrialization and growth of a middle income population. High temperature and humidity are apparent in most regions within this area and thus the need for good cooling products to enable market stability.
Other factors encouraging the use of split systems include; The government of the world has been implementing favorable policies of encouraging energy efficient technologies as well as infrastructural development. New players are entering into this region and established global players are also stepping into this region for investments, with models which are locally preferenced and locally compliant.
Active Key Players in the Split Air Conditioning Systems Market
Daikin Industries, Ltd. (Japan)
Mitsubishi Electric Corporation (Japan)
LG Electronics Inc. (South Korea)
Samsung Electronics Co., Ltd. (South Korea)
Carrier Corporation (United States)
Panasonic Corporation (Japan)
Hitachi Cooling & Heating (Japan)
Toshiba Corporation (Japan)
Haier Smart Home Co., Ltd. (China)
Gree Electric Appliances Inc. (China)
Trane Technologies plc (Ireland)
Voltas Limited (India)
Other key Players
Key Industry Developments in the Split Air Conditioning Systems Market:
April 2024- Samsung Electronics Singapore introduced its newest WindFree™ multi-split Air Conditioner series, which enhances Samsung’s range of household appliances for smart homes. This series is meant to improve homeowners’ lifestyles with its Comfort Cooling, Energy-Saving, and Connected Living capabilities.
February 2024- Midea, a prominent international supplier of air conditioning solutions, unveiled its latest offering, the Midea IcyBlast Split AC, at the prestigious Big 5 Construct Saudi event held in Riyadh.
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Split Air Conditioning Systems Market by Type
4.1 Split Air Conditioning Systems Market Snapshot and Growth Engine
4.2 Split Air Conditioning Systems Market Overview
4.3 Motor Yachts and Sailing Yachts
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Motor Yachts and Sailing Yachts: Geographic Segmentation Analysis
Chapter 5: Split Air Conditioning Systems Market by Application
5.1 Split Air Conditioning Systems Market Snapshot and Growth Engine
5.2 Split Air Conditioning Systems Market Overview
5.3 Personal use and Commercial use
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Personal use and Commercial use: Geographic Segmentation Analysis
Chapter 6: Split Air Conditioning Systems Market by Size
6.1 Split Air Conditioning Systems Market Snapshot and Growth Engine
6.2 Split Air Conditioning Systems Market Overview
6.3 Upto 50 Meters
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Upto 50 Meters: Geographic Segmentation Analysis
6.4 50 to 100 Meters
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 50 to 100 Meters: Geographic Segmentation Analysis
6.5 and More than 100 Meters
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 and More than 100 Meters: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Split Air Conditioning Systems Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 DAIKIN INDUSTRIES
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 LTD. (JAPAN)
7.4 MITSUBISHI ELECTRIC CORPORATION (JAPAN)
7.5 LG ELECTRONICS INC. (SOUTH KOREA)
7.6 SAMSUNG ELECTRONICS CO. LTD. (SOUTH KOREA)
7.7 CARRIER CORPORATION (UNITED STATES)
7.8 PANASONIC CORPORATION (JAPAN)
7.9 HITACHI COOLING & HEATING (JAPAN)
7.10 TOSHIBA CORPORATION (JAPAN)
7.11 HAIER SMART HOME CO. LTD. (CHINA)
7.12 GREE ELECTRIC APPLIANCES INC. (CHINA)
7.13 TRANE TECHNOLOGIES PLC (IRELAND)
7.14 VOLTAS LIMITED (INDIA)
7.15 OTHER ACTIVE PLAYERS
Chapter 8: Global Split Air Conditioning Systems Market By Region
8.1 Overview
8.2. North America Split Air Conditioning Systems Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Type
8.2.4.1 Motor Yachts and Sailing Yachts
8.2.5 Historic and Forecasted Market Size By Application
8.2.5.1 Personal use and Commercial use
8.2.6 Historic and Forecasted Market Size By Size
8.2.6.1 Upto 50 Meters
8.2.6.2 50 to 100 Meters
8.2.6.3 and More than 100 Meters
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Split Air Conditioning Systems Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Type
8.3.4.1 Motor Yachts and Sailing Yachts
8.3.5 Historic and Forecasted Market Size By Application
8.3.5.1 Personal use and Commercial use
8.3.6 Historic and Forecasted Market Size By Size
8.3.6.1 Upto 50 Meters
8.3.6.2 50 to 100 Meters
8.3.6.3 and More than 100 Meters
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Split Air Conditioning Systems Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Type
8.4.4.1 Motor Yachts and Sailing Yachts
8.4.5 Historic and Forecasted Market Size By Application
8.4.5.1 Personal use and Commercial use
8.4.6 Historic and Forecasted Market Size By Size
8.4.6.1 Upto 50 Meters
8.4.6.2 50 to 100 Meters
8.4.6.3 and More than 100 Meters
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Split Air Conditioning Systems Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Type
8.5.4.1 Motor Yachts and Sailing Yachts
8.5.5 Historic and Forecasted Market Size By Application
8.5.5.1 Personal use and Commercial use
8.5.6 Historic and Forecasted Market Size By Size
8.5.6.1 Upto 50 Meters
8.5.6.2 50 to 100 Meters
8.5.6.3 and More than 100 Meters
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Split Air Conditioning Systems Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Type
8.6.4.1 Motor Yachts and Sailing Yachts
8.6.5 Historic and Forecasted Market Size By Application
8.6.5.1 Personal use and Commercial use
8.6.6 Historic and Forecasted Market Size By Size
8.6.6.1 Upto 50 Meters
8.6.6.2 50 to 100 Meters
8.6.6.3 and More than 100 Meters
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Split Air Conditioning Systems Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Type
8.7.4.1 Motor Yachts and Sailing Yachts
8.7.5 Historic and Forecasted Market Size By Application
8.7.5.1 Personal use and Commercial use
8.7.6 Historic and Forecasted Market Size By Size
8.7.6.1 Upto 50 Meters
8.7.6.2 50 to 100 Meters
8.7.6.3 and More than 100 Meters
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
Q1: What would be the forecast period in the Split Air Conditioning Systems Market research report?
A1: The forecast period in the Split Air Conditioning Systems Market research report is 2024-2032.
Q2: Who are the key players in the Split Air Conditioning Systems Market?
A2: Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Carrier Corporation (United States), Panasonic Corporation (Japan), Hitachi Cooling & Heating (Japan), and Other Major Players.
Q3: What are the segments of the Split Air Conditioning Systems Market?
A3: The Split Air Conditioning Systems Market is segmented into Product Type, Capacity, Application, Distribution Channel and region. By Product Type, the market is categorized into Mini-Split Systems, Multi-Split Systems, Variable Refrigerant Flow (VRF) Systems. By Capacity, the market is categorized into Up to 2 Tons, 2–5 Tons, Above 5 Tons. By Application, the market is categorized into Residential, Commercial, Industrial. By Distribution Channel, the market is categorized into Online, Offline. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Q4: What is the Split Air Conditioning Systems Market?
A4: Split air conditioning systems market refers to HVAC products which involve the separation where the condenser/compressor unit is placed outside while the indoor cooling unit is inside. These systems are energy intelligent, versatile, and designed for house, office, and factory purposes, which provide accurate temperature regulation and no interference with structures.
Q5: How big is the Split Air Conditioning Systems Market?
A5: Split Air Conditioning Systems Market Size Was Valued at USD 26.96 Billion in 2023, and is Projected to Reach USD 41.97 Billion by 2032, Growing at a CAGR of 5.04% From 2024-2032.
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