The global split air conditioning systems market is expected to grow at noteworthy CAGR around 4.3 % throughout the forecast period and reach around US$ 178 billion by 2026.
The report provides analysis of global Split Air Conditioning Systems market for the period 2016-2026, wherein 2019 to 2026 is the forecast period and 2017 is considered as the base year.
Due to the improvement in air conditioning technology, the energy efficiency of split air conditioners is increasing in recent years. In general, the efficiency of an air conditioning system is measured in the SEER. Since 1990, the SEERs have increased by 50% and 57% respectively, to 4,2 and 4,2 in 2016, with residential and business air conditioning. Split air conditioners are more power-efficient than windows. The most common air conditioning SEERs are split air conditioners, followed by Japan, South Korea, China, USA, Singapore, Canada, Australia, Thailand, Saudi Arabia, India, etc. Air conditioning systems. Energy efficient divided air conditioners are generally in high demand in developed regions like Europe due to strict environmental regulations. But even emerging economies like Asia - Pacific see a growing demand for energy - efficient divided air conditioners.
In the Middle East, demand for VRF systems is on the rise. The Supreme Energy Council of Dubai launched the 2030 Dubai Integrated Energy Strategy with a rise in population and economic activity aimed at decreasing the demand for energy in the UAE by 30,0 percent by 2030. For the purpose of reducing energy demand, VRF air conditioners in the UAE and the entire Middle East are experiencing a growing demand. In 2014 VRF demand in the Middle East amounted to 20,000 units, according to the global air conditioning system manufacturer Midea Group. The consumer preference is gradually changing to the VRF system from Chillers / Ducted Air Conditioners. Demand growth is higher than that of the Room Air Conditioners (RACs) in Saudi Arabia, which represents over 5.0 percent. The FIFA World Cup is expected to take place in Qatar in the Middle East in 2022. The FIFA World Cup is considered to be the world's biggest football show. In the Middle East, the air conditioning system manufacturers are expected to split due to the expected increase in the demand for VRF.
The warm climate is expected to increase the demand for separate air conditioning in India and other South East Asian countries as well as population growth and disposable income. This has led to the installation of production units in India by global air conditioning system producers, which reduces further the cost of split air conditioners. This offers an excellent opportunity for market participants in the global air conditioning system split market in India.
The cost of split climates is nevertheless a problem. Split air conditioners may be mini divided or multi divided. According to U.S. Energy Department, its main disadvantage is the high cost of small split air conditioners. Mini-split air conditioners are available for between USD 1500 and USD 2000 per ton of refreshing capacity. The energy efficient divided air conditioners are more expensive than conventional air conditioners. The energy efficiency split-air conditioning price in China, for example, is generally 2X higher than conventional air conditioners and usually means 10 years of reimbursement. The price of divided air conditioners and an increase in energy consumption are therefore also increasing.
This study gives an overview of the worldwide air-conditioning system divisions in terms of the type, application and distribution channel of equipment. The market was divided into mini-split, multi-split, VRF and floor ceiling, as far as equipment was concerned. The market is divided into residential and commercial segments on the basis of application. The market is divided into online and offline on the basis of distribution channels. The offline channel is also divided into conventional shops and businesses. The traditional distributory channel in shops, specialty stores and supermarkets is further distributed.
Europe is the second largest divisional market in the world for air conditioning systems. The European market dominates split air conditioners, while the mini-split air conditioners play a major part in Europe among split air conditioning systems. Russia is Europe's largest divided air conditioning market. France, Spain, Italy, and the United Kingdom are also major divided air conditioner markets in the region. Increased demand for air conditioners (VRF) that are relatively expensive as other types of divided air conditioners drives the demand on Europe's split system.
Split air conditioners in North America play a minor role in the overall market for air conditioning systems. Mini split air conditioners play an important role, and over the forecast period, the segment is expected to grow. Split air conditioning systems are highly energy efficient. VRF systems are subject to high demand in the USA, which increases the total demand in North America for split air conditioning systems. In North America, Canada is a major divided air conditioning market.
The fourth largest air-conditioning dividing market in the world is the Middle East & Africa (MEA). In the MEA divided air conditioning system market, GCC and Nigeria have been major markets. The air conditioning market in the GCC region is changing. As indicated in the decisions taken by the Dubai Supreme energy council, the UAE, which aims at cutting energy consumption in the UAE by 30 percent by 2030, the region intends to reduce energy consumption in the US. GCC prefer energy-efficient climate control systems as air conditioning systems are the main energy consumers. This leads to high demand for GCC-wide VRF systems, which increases demand for SAC overall.
The air - conditioning division market in South America is the smallest in the world. Brazil is South America's largest and largest divided air conditioning system market, and the market is expected to grow moderately during the forecast period.
Split Air Conditioning Systems Market by Equipment Type
Split Air Conditioning Systems Market by Application
Split Air Conditioning Systems Market by Distribution Channel
Global Split Air Conditioning Systems Market, by Geography
The market research study on “Split Air Conditioning Systems Market (By Equipment Type: Multi split, Mini split, VRF, Floor Ceiling; By Application: Residential, Commercial; By Distribution Channel: Offline, Online) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Split Air Conditioning Systems market segments with market dynamics and their impact. The report provides insights on global Split Air Conditioning Systems market by equipment, by application, by distribution Channel and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Split Air Conditioning Systems segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
The Split Air Conditioning Systems market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Mitsubishi Electric Corporation, Midea Group Co., Ltd., Samsung Electronics Co., Ltd., Hitachi, Ltd., Sharp Company, and lennox International Inc. Ltd., United Technologies Corp., Panasonic Corporation, Electrolux AB. Ltd. among others.
With the attendance of many small and medium-sized manufacturers, the market is fragmented. The strong presence of local manufacturers and suppliers, particularly in China, is one of the main reasons for market fragmentation. In addition, companies focus on product adaptation, strategic partnerships and new customer acquisitions to gain more market shares.
A thorough study of the global Split Air Conditioner market is provided in a ARC report, while a rich analysis of the situation in the market is carried out, focusing on their drivers, opportunities, restrictions and trends. The report examines the outcome of the product in the industries and applications concerned. The global reports provide comprehensive data on procedures which current market vendors might try to gain momentum alongside an examination of new players ' entry points.