A recent report published by Infinium Global Research on split air conditioning systems market provides an in-depth analysis of segments and sub-segments in the global as well as regional split air conditioning systems market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional split air conditioning systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global split air conditioning systems market. According to the report, the global split air conditioning systems market is projected to grow at a CAGR of 4.40% over the forecast period of 2019-2025.
As the air conditioning industry is changing in recent past years, innovative developments are adding value to climate control, efficiency, and connectivity. A split air conditioning system is amongst the most versatile on the market due to their reverse cycle function allows them to heat or cool home. Split air conditioning system also offers the option of the single or multi-split that enables a split air conditioning system to operate in more than one room of home or business. Split air conditioning system increase room-by-room environmental control and regulate heating and cooling methods, allowing customers to manage their energy use easily and efficiently.
The increased need for energy-efficient air conditioning systems is the major driving factor of the split air conditioning systems market. Furthermore, factors such as hot climate, rise in population, and the increase in disposable income are driving the growth of the market. The demand for split air conditioning systems is rising due to its applications such as decreasing household energy expenditures, easy to installation, quiet operation, and great flexibility. The growing demand for integrated systems and rising investment in R&D is fueling the growth of the split air conditioning systems market. However, the high cost of split air conditioning systems restrains the market growth. The increasing population in counties like India expected to provide growth opportunities to the market players.
Geographically, Asia-Pacific is the largest market for split air conditioning systems market owing to the hot climate, higher disposable incomes, and changing lifestyles. The increasing residential construction is fueling the growth of the market in this region. China is the largest market for split air conditioning systems market followed by Japan and India in the Asia-Pacific region. Mini-split air conditioners are the major part of China split air conditioning systems market. Europe is the second largest market of the global split air conditioning systems market. Russia holds a large market share of the split air conditioner market in Europe.
The report on global split air conditioning systems market covers segments such as equipment type, applications, and distribution channel. On the basis of equipment type, the sub-markets include multi split, mini split, and VRF. On the basis of applications, the sub-markets include residential, and commercial. On the basis of the distribution channel, the sub-markets include offline, and online.
The report provides profiles of the companies in the market such as United Technologies Corp., Panasonic Corporation, Daikin Industries, Ltd., Mitsubishi Electric Corporation, Hitachi, Ltd., Midea Group Co., Ltd., Samsung Electronics Co., Ltd., Lennox International Inc., Sharp Corporation, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of split air conditioning systems market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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