Global
Split Air Conditioning Systems Market was valued US$ 22.16 Bn in 2018 and
is expected to reach 31.2 Bn by 2026, at a CAGR of 5.01 % during a forecast
period.
Global Split Air Conditioning Systems Market: Overview
A split air conditioner system contains an outdoor unit and
an indoor unit. The outdoor unit is fixed on or near the external wall of the
room that you wish to cool. This element houses the compressor, condenser coil,
and the development coil or capillary tubing. The sleek-looking indoor unit
covers the cooling coil, along blower, and an air filter. As split air
conditioning systems are estimated as an important product instead of a luxury,
the demand for split air conditioning systems raised significantly. Rising
middle class population in developing countries such as China, India, and
Brazil has been a key factor for increasing acceptance of split air
conditioning systems in these countries during the forecast period.
Global Split Air Conditioning Systems Market: Drivers and
Restraints
The overflow demand for energy saving is one of the major
factors which increases market share of split air conditioning systems.
Demanding government instruction for energy saving models led to the
replacement of existing air conditioning systems in developed countries from
North America and Europe regions with energy saving systems. The electricity
consumption of split air conditioning systems has been increased in the last
few years, therefore, manufacturers of split air conditioning systems are
approving green and advanced technologies, thus creating energy saving systems.
The rise in adoption of green technology and growth in number of smart homes
would drive the split air conditioning systems market during the forecast period.
On the other hand, unpredictability in prices of raw
material will restrict growth of market of split air conditioning system.
Hence, government decreases the investment on existing technology over advanced
technology increases the demand for split air conditioning market during
forecast period.
Global Split Air Conditioning Systems Market: Segment
Analysis
On the basis of application, there is the demand of split
air conditioning market in the residential area which is projected to increase
during forecast period. The major equipment type is multi-split and mini-split
which follows in mostly residential application type which is expected to grow
demand for split air conditioning system, owing to space saving installation
and independent control. Compared to window air conditioners, split air
conditioners dominate the room air conditioner market in India. The market
share of split air conditioners has risen from 42.0% in FY06 to 85.0% in FY18.
Penetration of room air conditioning systems in India was 4.0% in FY18.
Global Split Air Conditioning Systems Market: Regional
Analysis
The split air conditioning system market in Asia Pacific is
the largest in the world. Split air conditioners hold a key market share in the
air conditioning system market of Asia Pacific. Hot climate, increase in
disposable income, changing lifestyle, and increase in residential construction
across the Asia Pacific region is rising the demand for split air conditioners.
China is the major market which lead to the split air conditioning system
market. Japan and India are other significant split air conditioning markets in
Asia Pacific projected to increase demand market share of split air
conditioning market during the forecast period.
The objective of the report is to present comprehensive
assessment projections with a suitable set of assumptions and methodology. The
report helps in understanding Global Split Air Conditioning Systems market
dynamics, structure by identifying and analyzing the market segments and
projecting the global market size. Further, the report also focuses on the
competitive analysis of key players by product, price, financial position,
growth strategies, and regional presence. To understand the market dynamics and
by region, the report has covered the PEST analysis by region and key economies
across the globe, which are supposed to have an impact on market in forecast
period. PORTER’s analysis, and SVOR analysis of the market as well as detailed
SWOT analysis of key players has been done to analyze their strategies. The
report will to address all questions of shareholders to prioritize the efforts
and investment in the near future to the emerging segment in the Global Split
Air Conditioning Systems market.
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Scope of Global Split Air Conditioning Systems Market
Global Split Air Conditioning Systems Market, by Equipment
Type
• Mini-split
• Multi-split
• VRF
• Floor Ceiling
Global Split Air Conditioning Systems Market, by Application
• Residential
• Commercial
Global Split Air Conditioning Systems Market, by
Distribution Channel
• Online
• Offline
o Conventional Stores
DIY Stores
Specialty Stores
Supermarket
o Company-owned Stores
Dealers
Installers
Global Split Air Conditioning Systems Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Split Air Conditioning
Systems Market
• Daikin Industries, Ltd.
• United Technologies Corp.
• Hitachi, Ltd.
• Panasonic Corporation
• Electrolux AB
• Mitsubishi Electric Corporation
• Midea Group Co., Ltd.
• Samsung Electronics Co., Ltd.
• Sharp Corporation
• Lennox International Inc.
• Samsung Electronics Co. Ltd.
• Mitsubishi Corporation
• LG Electronics Inc.
• Siemens AG
• Carrier Corporation
• Toshiba Corporation
• Denso Corporation
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