About Split AC
The split AC market refers to the segment of the air conditioning industry focused on systems comprising separate indoor and outdoor units. These units are connected by refrigerant lines and are popular for their efficient cooling, quieter operation, and installation flexibility. They dominate the residential and commercial cooling sector due to their compact size, energy efficiency, and customizable zoning options, allowing different temperatures in various rooms. The market is highly competitive, with various brands offering diverse features, including inverter technology, smart controls, and eco-friendly refrigerants, catering to diverse consumer needs and preferences. Growing concerns about energy efficiency and environmental impact continue to drive innovation and market growth in the split AC segment.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 5.1% |
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for Split AC. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Split AC market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Daikin Industries, Mitsubishi Electric, Gree Electric Appliances, Panasonic Corporation, Midea Group, LG Electronics, Carrier Corporation, Fujitsu General, Hitachi Cooling & Heating, Samsung Electronics, Toshiba Corporation, Haier Group Corporation, Johnson Controls, Rheem Manufacturing Company and Sharp Corporation are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hisense Group, Electrolux AB, Whirlpool Corporation, Trane Technologies, Lennox International and Others.
Segmentation Overview
AMA Research has segmented the market of Global Split AC market by Type (Single Room Split Systems, Wall Mounted Split Systems, Multi-head Split Systems and In-ceiling Cassette Systems), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Split AC has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Tonnage, the sub-segment i.e. Upto 3 Tons will boost the Split AC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Inverter AC will boost the Split AC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online ( Company Website, E-commerce) will boost the Split AC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of smart features for remote control and energy management
Market Growth Drivers:
Rising demand for energy-efficient cooling solutions and Technological advancements in inverter technology
Challenges:
Fluctuating raw material costs affecting pricing and Stringent energy efficiency regulations impacting manufacturing
Restraints:
High initial installation costs for premium models and Infrastructure limitations in certain regions affecting widespread adoption
Opportunities:
Expanding middle-class population in developing countries and Growing awareness of climate change prompting a shift toward sustainable cooling solutions
Market Leaders and their expansionary development strategies
In January 2023, GlobalLogic, Inc., a Hitachi group company, announced the acquisition of Hexacta, a Pan-Latin American digital and data engineering company
In April 2023, Voltas Ltd announced its new range of convertible inverter ACs with built-in air purification systems. The company has extended its AC portfolio with the launch of a new range of ACs in India. The new air conditioner, which is designed to purify the air in the room while also cooling it, has a HEPA filter, a PM 1.0 sensor, and an AQI indication. and In February 2022, LG Electronics Inc. announced the launch of AI Dual Inverter air conditioners and expanded its product line-up. The latest air conditioner, powered by AI, comes with multiple in-built sensors and dual rotary compressor technology, which offers better cooling. The all-new 2022 range of LG air conditioners is equipped with an anti-virus protection filter.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.