Ductless systems heat and cool any breathing area where they are installed using variable-speed inverter compressor technology. They are also known as heat pumps or tiny split units, and they are capable of cooling and heating systems. These systems are very cost-effective, secure, and energy-efficient. They are mutual heat pumps that transfer heat from the outside to the inside air. Furthermore, this air is compressed or extended by using a refrigerant.
In the Asia-Pacific region, ductless heating and cooling systems are in high demand from the construction industry. Expansions and new product launches connected to the development of high-energy efficient solutions by various organizations are critical drivers driving the global ductless heating and cooling systems market.
DataM Intelligence’s report on the ductless heating and cooling systems market provides insightful analysis of the latest trends and developments in the market. It outlines the current market dynamics and provides detailed insights into the market growth, revenue opportunities, and key players. Our report provides an accurate assessment of the market size and opportunities and explores the potential impact of the latest trends and developments.
Market Drivers
Significant Growth in Residential Buildings, the Fastest-Growing Application for Ductless Heating and Cooling Systems is a Key Driver
Ductless heating and cooling systems are mostly utilized in residential buildings to heat and cool the interior air. Residential buildings have been identified as the primary users of ductless heating and cooling systems. The demand is due to the low energy usage and ease of installation of ductless heating and cooling systems. As a consequence of the area's expanding population, rapid urbanization, and strong economic development, fast-growing construction markets in the Asia-Pacific region, such as India and China, are boosting demand for ductless heating and cooling systems for residential buildings.
Growth Opportunities: Technological Advancements Offer an Attractive Opportunity
Technological innovation is a significant trend that is gaining pace in the global ductless heating and cooling systems market. The key companies in the ductless heating and cooling systems sector focus on supplying technologically advanced products to increase their market position. These companies are incorporating next-generation technologies into their products and framework to provide independent humidity and temperature control without using potentially harmful refrigerants, such as automation, the Internet of Things, sophisticated control algorithms, inverter-driven compressors, intelligent valves, and others.
Competitive Landscape
The research study includes profiles of leading companies operating in the ductless heating and cooling systems market some of those are:
- Samsung Electronics Co. Ltd.
- Hitachi Ltd.
- United Technologies Corporation
- LG Electronics
Samsung Electronics Co. Ltd. Overview
Samsung Electronics has played a key role in the group's corporate governance due to circular ownership. Samsung Electronics employs around 290,000 people and has assembly factories and sales networks in 74 countries. Foreign investors hold the bulk of the company. By revenue, it is the world's biggest consumer electronics producer. Samsung Electronics is the world's second-largest technology firm by revenue as of 2019.
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