NEW YORK, May 6, 2022 /PRNewswire/ — The ductless HVAC system market size is set to grow by USD 15.36 billion from 2021 to 2026, progressing at a CAGR of 7.58% according to Technavio. 55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for ductless HVAC systems in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rapid growth in construction activities and rise in population in countries such as China, Japanand India will facilitate the ductless HVAC system market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Ductless HVAC System Market by Type and Geography – Forecast and Analysis 2022-2026

For more insights on the market share of various regions – request a sample report

Ductless HVAC System Market 2022-2026: Vendor Analysis

The ductless HVAC system market is fragmented and the vendors are deploying growth strategies such as technological innovation, packaging, and promotional activities to compete in the market. AB Electrolux, Carrier Global Corp., Daikin Industries Ltd., Fujitsu General Ltd., Haier Smart Home Co. Ltd., Hanon Systems, Hitachi Ltd., Lennox International Inc., LG Electronics Inc., MAHLE GmbH, MIDEA GROUP, Mitsubishi Electric Corp., Panasonic Corp., Rheem Manufacturing Co., Samsung Electronics Co. Ltd., Sanden Holdings Corp., Sharp Corp., Subros Ltd., Trane Technologies plc, and Valeo SA are some of the major market participants.

Ductless HVAC System Market 2022-2026 : Scope

Our ductless HVAC system market report covers the following areas:

Ductless HVAC System Market 2022-2026: Drivers & Challenges

The key factor driving the global ductless HVAC system market growth is the rapidly rising commercial and residential construction globally. The global construction market is expected to grow by USD 4.5 trillion between 2020 and 2030 and reach USD 15.2 trillionwith emerging markets accounting for USD 8.9 trillion in 2030. However, region-wise, the construction market in Sub-Saharan Africa is expected to have the highest growth, followed by emerging economies in APAC. Further, in 2020, China, Indiathe US, and Indonesia accounted for 58.3% of growth in the global construction sector. Furthermore, the residential construction sector accounted for 44% of the total global construction industry in 2020, making it the largest sub-sector and a key driver of the global construction market’s growth. This growth will be fueled by emerging economies that are looking to develop energy, transport networks, sewage and waste systems, and other large-scale projects, in the forecast period.

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However, the key challenge to the global ductless HVAC system market growth is the stringent government regulations. For instance, the New Efficiency Standard for Residential Heating and the Cooling United States of America and the National Appliance Energy Conservation Act (NAECA) went into effect in 2006 and 2015, respectively. The new standards that come into effect in 2023 require a seasonal energy efficiency ratio (SEER), a measure of a systems cooling performance, of no less than 14 for residential systems in the northern parts of the US and a SEER of 15 in the southern parts (states) of the US. In addition, the new standards require an increase in the heating efficiency of air-source heat pumps, which is measured by the equipment heating seasonal performance factor (HSPF). The minimum HSPF will be 8.8 when compared with the HSPF of 8.2 required by the current standard, which went into effect in 2015. Such factors would hamper the market growth in the forecast period.

To know about the other drivers & challenges – Download a sample report now!

Ductless HVAC System Market 2022-2026 : Segmentation Analysis

Ductless HVAC System Market 2022-2026 : Revenue Generating Segment

The ductless HVAC system market share growth by the single-zoned segment will be significant for revenue generation. The significant increase in the demand for HVAC systems applications, owing to growth in household incomes and changing expenditure patterns of consumers in emerging economies, will drive the growth of the segment in focus in the coming years.

To gain further insights on the market contribution of various segments – Download a sample report now!

Ductless HVAC System Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist ductless HVAC system market growth during the next five years

• Estimation of the ductless HVAC system market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the ductless HVAC system market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of ductless HVAC system market vendors

Related Reports:

• The HVAC terminal units market size is expected to be valued at USD 1.41 billion by 2026 with a progressive CAGR of 5.05%. Download a sample report now!

• The energy-efficient HVAC systems market share is expected to increase by USD 24.37 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.02%. Download a sample report now!

Table Of Contents:

1 executive summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market segmentation by type

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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When developer Brooks Patterson, owner of Prodigy Woodworks, first came across a 120-year-old former ice and coal warehouse in Macon, Ga., he envisioned Lofts at Empire Yard as a modern, multifamily property housing 28 units.

“The neighborhood was in rough shape but had these beautiful buildings needing revitalization after 50 years of neglect,” said Patterson. “We decided to buy all of the property along the street to spaces scattered throughout and give turn into multifamily units with some retail the neighborhood new life.

“I was drawn to the Empire Coal Company building in particular for its bones and history. It was built in 1897 and a lot of the architectural elements from that period have become popular again in industrial loft apartments. These elements include beautiful, large windows, high ceilings and solid structural beams.”

The 124-year-old Empire Coal Company, now the 28-unit lofts at Empire Yard.

HIGH CEILINGS RAISE CONCERNS

Patterson set out to renovate the building’s 65,000 sf of space into loft-style apartments, adding a pool and rooftop patios, while thoughtfully incorporating its historical design elements. But the high ceilings that Patterson knew would be aesthetically appealing to future tenants were concerning when it came to specifying mechanical systems.

“A lot of people remodel older buildings and keep the existing ductwork, but I’m not a fan of that look,” said Patterson. “I chose ductless systems because they can offer performance, quiet operation, and efficiency in a nice, sleek package. I wanted my tenants to enjoy those benefits and the low utility bills that came with them. My next step was finding the right manufacturer.”

Patterson found the solution with Mitsubishi Electric Zoned Comfort Solutions®.

CHOOSING THE RIGHT HVAC SYSTEM

Patterson didn’t have much professional experience with Mitsubishi Electric systems but had recently installed a split-ductless system in his own home and was happy with the performance. What sealed the deal on ductless was the glowing recommendation from mechanical contractor Clay Etheridge, owner of Etheridge Heating and Air, Forsyth, Ga.

“We wanted the best systems for this project, so we went back and revised our budget to put Mitsubishi Electric units in the lofts,” said Patterson. “The upfront mechanical costs may have been higher than I’d initially planned, but Clay’s commitment to standing behind the brand gave me confidence that I’d see a return on my investment quickly. As a matter of fact, my tenants have such low energy bills that the units are already paying for themselves.”

Etheridge and his team recommended a combination of Mitsubishi Electric EZ FIT Recessed Ceiling Cassettes complemented by Designer Series Wall-Mounted Indoor Units.

“The ceiling cassettes were a great choice for the lofts’ ceilings,” said Etheridge. “They fit nicely between the old building’s standard-width ceiling joists so there was no need for additional construction efforts. We also appreciated their sizing because we could place them nearly anywhere, including the corner of a room and just adjust airflow to blow in the most desirable direction. We also found that they hid wiring well, giving us a really clean-looking end result.”

Mitsubishi Electric wall-mounted unit at the Lofts at Empire Yard.

The ceiling cassettes can be serviced from below, automatically simplifying any maintenance requests that might come in.

MAINTENANCE REQUESTS AT A MINIMUM

Regarding maintenance requests, there’ve been minimal requests for service.

“In this sort of adaptive reuse project, where we take a very old building and transform it, a lot of people expect that the mechanical systems won’t be up to snuff,” said Patterson. “Even if we’ve completely gutted the place and started from scratch, they see the old industrial footprint and assume they’ll be dealing with boilers and radiators. It’s been fun to see tenants pleasantly surprised by the Mitsubishi Electric system – how well it performs, how quiet it is, and how easy it is to control.”

Mitsubishi Electric’s kumo cloud wireless control software.

The easy operation is thanks to use of Mitsubishi’s kumo cloud wireless control software (https://www.mitsubishicomfort.com/kumocloud). Zoned Comfort Solutions systems can use kumo cloud to give tenants user-friendly control over their apartments’ temperature through a wall-mounted tablet or remote app. All units can be controlled as a group for universal mode operation, or independently for temperature settings. Tenants benefit from even, comfortable temperatures and reliable conditioning.

“We’ve received great feedback on how quickly the units heat the building in the winter and cool it on warm days,” said Etheridge. “The tenants and building management have expressed they are happy with performance and speed.”

Tenants also realize lower utility bills. Patterson can track the efficiency of the systems by monitoring each apartment’s energy bills.

“Sometimes the bills are as low as $45 per month in the winter,” said Patterson. “Georgia isn’t the coldest place in the world, but we see temperatures in the high 20s and low 30s that definitely make tenants want to have their heat running.”

COMFORT INSIDE AND OUT

For Patterson, the right HVAC solution would be low impact for his tenants from an aesthetic, maintenance and operational sound level standpoint. He wanted to make sure that his confidence in the indoor comfort levels also translated to outdoor amenities for his tenants.

The apartments have access to private rooftop cupolas and walkout patios. While this feature has appeal to prospective tenants, Patterson was initially concerned about noise levels from the system’s outdoor units installed there. Those concerns were quickly squashed. With the units’ whisper quiet operation, they are barely audible at 58 dB(A).

The Empire Coal Company building (1897) had “good bones” and an interesting history, said its developer, Brooks Patterson.

LOFTS AT EMPIRE YARD

PROJECT TEAM Prodigy Woodworks, Macon, Ga. (builder), Etheridge Heating & Air Conditioning, Forsyth, Ga. (mechanical contractor).

MITSUBISHI ELECTRIC EQUIPMENT USED

Loft phase 1

• (12) M-Series Heat Pump Outdoor Units (12) M-Series Heat Pump Outdoor Units
• (3) SUZ Universal Heat Pump Outdoor Units
• (30) EZ FIT Recessed Ceiling Cassette Units
• (5) SLZ-KF Four-Way Recessed Ceiling Cassette Units

Loft phase 2

• (8) M-Series Heat Pump Outdoor Units
• (1) SUZ Universal Heat Pump Outdoor Unit
• (20) MSZ Wall Mounted Indoor Units
• (2) EZ FIT Recessed Ceiling Cassette Units
• (3) SLZ-KF Four-Way Recessed Ceiling Cassette Units
• kumo cloud app and web service

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