Global Split Air Conditioning Systems Market witnessed significant growth in 2020 and is expected to continue its steady revenue CAGR over the forecast period. One of the key drivers of this growth is the increasing global warming due to rapid climate change, which has resulted in a growing need for improved ventilation across residential and commercial spaces. As a result, there is an increasing demand for split air conditioning systems owing to their superior performance, higher energy-efficiency, and greater affordability compared to other types such as window-mounted ACs and central air conditioning units.
A split air conditioning system consists of two separate units, namely the air handling unit and the water condensing unit. The air handling unit, which comprises the distribution and filter components, is installed inside the room, whereas the condensing unit, housing the condenser and compressor components, is mounted outside. These two units are connected through insulated refrigerant lines, and one of the major advantages of this type of air conditioner is its quieter operation as the condensing unit is located outside the air-conditioned room.
Split air conditioning systems are considered to be better alternatives to central air conditioning systems and window-mounted AC units. They are relatively more energy-efficient, less expensive, and much easier to install. The key functions of split-type air conditioning units are cooling, dehumidification, air filtering, and improving indoor air quality. These features make them a popular choice for consumers who want to maintain a comfortable indoor environment.
In conclusion, the split air conditioning systems market is poised to witness robust growth over the forecast period, driven by increasing global warming, growing need for improved ventilation, and rising demand for more energy-efficient and affordable air conditioning solutions. The superior performance and versatility of split air conditioning systems, along with their ease of installation and operation, make them a popular choice for both residential and commercial spaces. As the market continues to grow, manufacturers are expected to introduce innovative products that offer even greater energy efficiency and environmental sustainability.
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Market Overview:
Several factors drive the global consumer goods market's revenue growth, including the rapid increase of the global population, the increasing demand for food and other essential goods, including healthcare and nutrition, personal care and hygiene, and electronic products, changes in consumer lifestyles and preferences, increases in the demand for packaged and processed food and beverage products, and an increasing population of working people. Among the factors driving revenue growth for the global consumer goods market are technological advances in product manufacturing and packaging techniques, as well as the rapid adoption of innovative technologies such as artificial intelligence, the Internet of Things, big data analytics, and robotics and automation. Other key factors driving global consumer goods market revenue growth include increasing awareness that plastic packaging has adverse environmental effects and a growing need for environmentally friendly and sustainable packaging solutions. A growing income level of consumers worldwide, particularly in developing economies such as India, and stringent government regulations and guidelines for product safety and quality are factors that are set to boost market revenue growth further.
Key Players covered in this report are
- Daikin Industries, Ltd.
- Blue Star
- GREE Electric Appliances Inc.
- Haier Group Corporation
- Lennox International Inc.
- LG Electronics Inc.
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Samsung Electronics Co., Ltd.
- Toshiba Corporation
- Voltas Limited
- Midea Group Co., Ltd.
- Hitachi, Ltd.
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Mini-split
- Multi-split
- VRF
- Floor Ceiling
Installation Outlook (Revenue, USD Billion; 2018-2028)
- Wall-mounted
- Freestanding
Capacity Outlook (Revenue, USD Billion; 2018-2028)
- Less than 1 Ton
- 1 Ton to 1.5 Tons
- 5 Tons to 2 Tons
- More than 2 Tons
Price Outlook (Revenue, USD Billion; 2018-2028)
- Low
- Medium
- High
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Commercial
- Industrial
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Supermarkets Hypermarkets
- Company-owned Stores
- Specialty Stores
- E-commerce Platforms
Key Regional Markets Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Major Points covered in this report are as below:
• The Split Air Conditioning Systems industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Split Air Conditioning Systems Market report provides key statistics on the market status of the Split Air Conditioning Systems manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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