International.
The global split-type air conditioner market is expected to exceed 104 million tons in 2020, increasing at a compound annual growth rate (CAGR) of more than 6% during the forecast period, according to the latest market study published by Technavio.
By segments, the global ductless split air conditioning market is projected to grow from $58 billion in 2015 to more than $73 billion in 2020. According to the Energy Star program, such a unit is capable of saving up to 30% in heating and cooling costs.
In the VRF segment, revenue from this type of market is expected to exceed US$20 billion in 2020, growing at a CAGR of nearly 12%. According to Technavio, the future of the global VRF market looks promising, especially in the Americas, due to the growing popularity of VRF units over small chillers. Currently, the Asia Pacific (APAC) region is the largest consumer of VRF systems, followed by Europe.
The study also indicated that the global split ducted air conditioning market will exceed US$8 billion by 2020, growing at a CAGR of more than 4%. This market is most popular in the U.S., accounting for 95% of total sales in 2013.
Finally, the global market for standard ducted air conditioning is projected to reach US$3 billion by 2020, growing at a CAGR of more than 4%.
