Global split air conditioning market is forecast to grow at a CAGR of 4% during the forecast period. Split AC comprises of an indoor and an outdoor unit that is connected by a refrigerant piping. There are variations of split-type ACs available in the market. These are inverter split AC, no-inverter split conditioners, and multi-split AC. Major factors augmenting the market are increasing urbanization, increasing disposable income, cohesive government regulations related to refrigerants, adverse climate change and so on. The rise in the demand of inverter AC is providing a significant opportunity to the market. Significant changes will be witnessed during the forecast period.
The market is segmented on the basis of application and refrigerant type. By application, the market is segmented into residential, commercial, industrial, and others. The residential segment is expected to show a significant growth rate globally. By refrigerant type, the market is further divided into HCFC, HFC, HFO, and natural refrigerant. As per the Montreal Protocol, HCFC will be totally phased out from the developed countries in 2020 and by 2030 in developing countries. Phase-out of HFC will also start from 2019 in developed economies. Due to this HFO and natural refrigerants will find a significant growth rate during the forecast period.
On the basis of geography, the global split air conditioning market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The US is expected to hold a significant market during the forecast period. Asia-Pacific is expected to have a major market share with a significant growth rate during the forecast period. It is due to the significant demand for AC from the residential segment in the emerging economies including China, India, ASEAN countries and so on.
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Split Air Conditioning Market Segmentation
By Application
- Residential
- Commercial
- Industrial
- Others (Healthcare)
By Refrigerant Type
- HCFCs (Hydrochlorofluorocarbons)
- HFC (Hydrofluorocarbon)
- HFO (Hydrofluro-Olefins)
- Natural Refrigerants
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Blue Star Ltd.
- Daikin Industries Ltd.
- Electrolux AB
- Fujitsu General Ltd.
- Gree Electric Appliances Inc.
- Haier Electronics Group Co. Ltd.
- Hitachi Ltd.
- Johnson Controls International PLC
- LG Electronics Inc.
- Midea group
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- The Whirlpool Corp.
- Toshiba Corp.
- Trane Inc.
- United Technologies Corp.
- Voltas Ltd.
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