Mini Split Air Conditioning System Market - By Product Type (Single-Zone Mini-Splits, Multi-Zone Mini-Splits), By Installation, By Technology, By Price, By Capacity, By End- Use, By Distribution Channel & Forecast, 2023 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMini Split Air Conditioning System Market - By Product Type (Single-Zone Mini-Splits, Multi-Zone Mini-Splits), By Installation, By Technology, By Price, By Capacity, By End- Use, By Distribution Channel & Forecast, 2023 – 2032
Mini Split Air Conditioning System Market Size
Mini Split Air Conditioning System Market was valued at around USD 6.87 billion in 2022 and is projected to grow at a CAGR of over 4.9% between 2023 and 2032. The factors driving the market of mini split air conditioning system are the significance of energy efficiency in HVAC systems, tailoring climate control for specific zone, and ease of installation and flexibility design.
To get key market trends
Energy efficiency is one of the most important factors driving the growth of the mini-split AC market. Mini-split ACs are highly energy-efficient, using up to 30% less energy than traditional window or central air conditioning systems. This is due in part to their use of inverter technology, which allows them to adjust their cooling capacity to match the needs of the room. As a result, mini-split ACs can help homeowners save money on their energy bills.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Mini Split Air Conditioning System Market Size in 2022 | USD 6.87 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.9% |
| 2032 Value Projection | USD 10.94 Billion |
| Historical Data for | 2018 to 2032 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 347 |
| Segments covered | Product Type, Installation, Technology, Price, Capacity, End-Use, and Distribution Channel |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Mini Split Air Conditioning System Market Trends
One major trend in the Mini Split AC (Air Conditioning) market is the increasing adoption of smart and energy-efficient technologies. Mini Split AC systems with smart features, such as Wi-Fi connectivity, remote control via mobile apps, and compatibility with home automation systems, are gaining popularity. Additionally, there is a growing emphasis on energy efficiency, with manufacturers incorporating advanced technologies like inverter compressors and variable-speed motors to enhance energy savings and reduce environmental impact. This trend reflects the broader industry shift towards more sustainable and connected solutions in the HVAC.
Mini Split Air Conditioning System Market Analysis
Learn more about the key segments shaping this market
Imagine you have a home with different rooms that need cooling, like your living room, bedroom, and maybe even a guest room. Mini-split air conditioners come into play here, offering two main optionsSingle-Zone Mini-SplitsEach unit cools only one room, like your bedroom. They're simple, cost-effective, and great for specific cooling needs. Multi-Zone Mini-Splits These units are like boss mode! They allow you to cool multiple rooms separately. Want to chill in your living room while your bedroom stays comfy? No problem! In 2022, single-zone mini-splits ruled the roost with a whopping 55.75% of the market. But here's the twistmulti-zone mini-splits are making a splash, with a projected 5.7% growth rate over the next few years. Why the shift? Because people are getting smarter about their comfort and energy use. Multi-zone mini-splits give you the flexibility to cool only the rooms you need, when you need it. Plus, they're more energy-efficient than cooling your entire home at once. So, while single-zone mini-splits are still popular for individual room cooling, the future looks bright for multi-zone mini-splits. They're the ultimate solution for customizable and energy-conscious cooling, and they're only going to get more popular as time goes on.
Learn more about the key segments shaping this market
When it comes to installing mini split air conditioning systems, there are a few main options to choose fromwall-mounted, free-standing, and others. In 2022, wall-mounted mini splits ruled the roost, making up the biggest chunk of the market. Why are wall-mounted mini splits so darn popular? Let's break it down- Space savers They're like ninjas of cooling, hiding up on your wall and leaving your floor space free for all that other fun stuff you want to squeeze in. - Installation made easy Setting up a wall-mounted mini split is a breeze, so you can get your cool on without too much hassle. - Fits like a glove Whether you're cooling a tiny room or a sprawling mansion, there's a wall-mounted mini split that can be strategically placed to keep you comfortable. - Features galore Modern wall-mounted mini splits come loaded with fancy features to make your AC dreams come true, like customizable settings and energy-efficient operation. - Style points Let's face it, these mini splits aren't just about cooling your space—they can also add a touch of sleekness to your interior design. They blend in seamlessly, like the perfect complement to your carefully curated aesthetic. So, there you have it. Wall-mounted mini split air conditioning systems are the kings and queens of the cooling world, offering a combination of practicality, functionality, and style that makes them the obvious choice for many homeowners and businesses alike.
Hey there! In the world of mini-split air conditioners, there are two main playersinverter and non-inverter. Right now, inverter mini-splits are the rockstars, taking up a whopping 68.7% of the market. That's because they're packed with fancy technology that makes them both energy-efficient and super precise when it comes to temperature control. These inverter systems are like the smart kids of the AC world. They've got compressors that can change their speed depending on how much cooling you need. This means they use less energy and keep the temperature just where you want it. And get thisinverter mini-splits are only expected to get more popular in the future. People are starting to realize that they're the best way to cool down their homes in a way that's both good for the environment and easy on the wallet. So, if you're looking for a mini-split AC, the inverter option is the future-proof choice!
When it comes to how people use mini-split AC systems, there are two main groupshomes and businesses. In 2022, most people (73.3%) used these systems in their homes, which shows that homeowners love them for cooling their spaces. There are a few reasons why mini-split AC systems are so popular in homes. First, they're flexible and can be put in different places. Second, they're energy-efficient, which saves homeowners money on their energy bills. Third, they allow for "zonal cooling," which means that people can control the temperature in different parts of their homes. Even though businesses also use mini-split AC systems, homes make up the larger market share. This shows that these systems are becoming more and more popular for cooling individual homes, apartments, and other places where people live.
Hey there! Let's talk about how people are buying their mini-split AC units. We've got two main waysonline and in stores. Both are important, but lately, more and more folks are shopping online. It's growing by about 4.4% each year. Why is this happening? Well, it's a lot easier to shop from home these days. You've got a huge selection of products to choose from, and you can easily compare prices and features. So, as more and more people turn to online shopping for their AC units, the online distribution channel is going to keep growing like crazy.
Looking for region specific data?
The United States is the leader in the North American market for mini-split air conditioners, and it's expected to keep growing steadily at 3.9% each year. This is because more Americans are spending money on home improvements, including on their cooling systems. They're also becoming more aware of how important energy efficiency is. Smart home technology is becoming more popular, and people are looking for ways to keep their homes cool without hurting the environment. In Asia-Pacific countries, there's a growing demand for efficient and space-saving cooling solutions. This is partly due to the rise of the middle class, who have more money to spend on home comfort. They're also becoming more aware of the importance of energy efficiency and environmental concerns, which makes mini-split AC systems more appealing. The region's economic growth, changing lifestyles, and focus on sustainable cooling practices are making it a major force in the mini-split AC market.
Mini Split Air Conditioning System Market Share
Some of the major market players operating in the mini split air conditioning system industry are
- Daikin Industries, Ltd.
- Mitsubishi Electric Corporation
- Fujitsu General Ltd.
- LG Electronics Inc.
- Samsung Electronics Co., Ltd.
- Carrier Corporation
- Trane Technologies
- GREE Electric Appliances Inc.
- Johnson Controls International plc.
- Panasonic Corporation
- Midea Group Co., Ltd
- Haier Group Corporation
- Toshiba Corporation
- Hitachi, Ltd.
- Senville
Mini Split Air Conditioning System Industry News
In 2023, Daikin, a leading manufacturer of mini-split air conditioning systems, has introduced a new inverter technology that reduces energy consumption by up to 30%. The new technology, called Daikin UruruSarara Z, uses a new refrigerant that is more efficient than traditional refrigerants. It also uses a new compressor design that is quieter and more durable.
In 2023, Mitsubishi Electric has launched a new line of mini-split air conditioning systems that are compatible with smart home platforms such as Amazon Alexa and Google Home. The new systems, called Mitsubishi Electric HyperCore, can be controlled using voice commands or through a smartphone app. They can also be programmed to turn on and off automatically based on the user's schedule.
Mini split air conditioning system market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Million Units from 2018 to 2032, for the following segments
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Market, By Product Type
- Single-Zone Mini-Splits
- Multi-Zone Mini-Splits
Market, By Installation
- Wall Mounted
- Free Standing
- Others (Floor Ceiling)
Market, By Technology
- Inverter Mini-Splits
- Non-Inverter Mini-Splits
Market, By Price
- Low
- Medium
- High
Market, By Capacity
- Less than 1 ton
- 1 to 1.5 ton
- 1.5 to 2 ton
- More than 2 ton
Market, By End-Use
- Residential
- Commercial
Market, By Distribution Channel
- Indoor
- Company Owned Website
- E- Commerce Website
- Outdoor
- Specialty Stores
- Supermarket & Hypermarkets
- Factory Outlets
- Other retail stores
The above information is provided for the following regions and countries in Revenue and Volume
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- South America
- Brazil
- Argentina
- Middle East & Africa
- GCC
- South Africa
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