Split Air Conditioning Systems Market Size, Share, and Growth Analysis, By Product, By Distribution Channel, By Application, By Pricing, By Installation, By Capacity, By Region - Industry Forecast 2025-2032
Hitachi-Johnson Controls Air Conditioning, Inc.(Japan/USA)
Samsung Electronics Co., Ltd.(South Korea)
Gree Electric Appliances, Inc. of Zhuhai(China)
Midea Group Co., Ltd.(China)
Haier Group Corporation(China)
Trane Technologies plc(Ireland)
Lennox International Inc.(USA)
Fujitsu General Ltd.(Japan)
Toshiba Carrier Corporation(Japan/USA)
Voltas Limited(India)
Blue Star Limited(India)
Whirlpool Corporation(USA)
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Global Split Air Conditioning Systems Market size was valued at USD 27.5 billion in 2023 and is poised to grow from USD 29.23 billion in 2024 to USD 47.66 billion by 2032, growing at a CAGR of 6.3% during the forecast period (2025-2032).
Recent advancements in air conditioning technology have significantly enhanced the energy efficiency of split air conditioners, driving their adoption primarily in developing economies like India, China, and Brazil, where a growing middle class and rising disposable incomes fuel demand. The market is further propelled by a push for energy savings, with governments in North America and Europe mandating the replacement of outdated systems with eco-friendly models. As manufacturers increasingly embrace green technologies to meet consumer preferences for energy-efficient solutions, the split air conditioning market is poised for growth. However, potential fluctuations in raw material prices pose a risk to sustained expansion. Overall, the outlook remains positive, particularly with the rise of smart homes and support for advanced technologies.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Split Air Conditioning Systems market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Split Air Conditioning Systems Market Segments Analysis
Global Split Air Conditioning Systems Market is segmented by Product, Distribution Channel, Application, Pricing, Installation, Capacity and region. Based on Product, the market is segmented into Mini Split Ac, Multi Split AC, VRF and Floor Ceiling. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Application, the market is segmented into Commercial and Residential. Based on Pricing, the market is segmented into Low, Medium and High. Based on Installation, the market is segmented into Wall Mounted and Freestanding. Based on Capacity, the market is segmented into Less than 1 Ton, 1 Ton to 1.5 Ton, 1.5 Ton to 2.0 Ton and More than 2.0 Ton. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Split Air Conditioning Systems Market
The global market for split air conditioning systems is being significantly propelled by a growing consumer awareness regarding the numerous benefits these systems offer. As individuals become more educated about energy efficiency, cost savings, and enhanced comfort levels, they increasingly recognize the advantages of installing split air conditioning units in their homes and businesses. This heightened understanding is leading to a surge in demand for such systems, prompting manufacturers to innovate and improve their product offerings further. As consumers prioritize climate control solutions that combine convenience with effective performance, the split air conditioning market is expected to expand in response to these trends.
Restraints in the Global Split Air Conditioning Systems Market
The global market for split air conditioning systems faces several challenges due to the inherent disadvantages associated with these units. One significant restraint is their installation complexity, which often requires professional expertise and can increase overall costs. Additionally, split AC systems may have higher upfront expenses compared to alternative cooling solutions, posing a barrier for price-sensitive consumers. Maintenance requirements can also be a concern, as neglecting regular servicing may lead to decreased efficiency and longevity. Furthermore, energy consumption during operation can contribute to higher utility bills, making them less attractive in an increasingly eco-conscious market.
Market Trends of the Global Split Air Conditioning Systems Market
The global split air conditioning systems market is witnessing a compelling trend driven by technological advancements, particularly in advanced inverter and heat pump technologies. Major players, such as Daikin, are at the forefront of this evolution, offering systems that provide superior cooling, enhanced humidification management, and improved air quality. These innovations not only enhance user comfort but also increase energy efficiency and reduce operational noise levels, aligning with the growing consumer demand for eco-friendly solutions. As these technologies proliferate, they present significant growth opportunities for industry stakeholders, propelling the market towards greater sustainability and advanced user experiences.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Split Air Conditioning Systems Market Size by Product & CAGR (2025-2032)
Market Overview
Mini Split Ac
Multi Split AC
VRF
Floor Ceiling
Global Split Air Conditioning Systems Market Size by Distribution Channel & CAGR (2025-2032)
Market Overview
Online
Offline
Global Split Air Conditioning Systems Market Size by Application & CAGR (2025-2032)
Market Overview
Commercial
Residential
Global Split Air Conditioning Systems Market Size by Pricing & CAGR (2025-2032)
Market Overview
Low
Medium
High
Global Split Air Conditioning Systems Market Size by Installation & CAGR (2025-2032)
Market Overview
Wall Mounted
Freestanding
Global Split Air Conditioning Systems Market Size by Capacity & CAGR (2025-2032)
Market Overview
Less than 1 Ton
1 Ton to 1.5 Ton
1.5 Ton to 2.0 Ton
More than 2.0 Ton
Global Split Air Conditioning Systems Market Size & CAGR (2025-2032)
North America (Product, Distribution Channel, Application, Pricing, Installation, Capacity)
US
Canada
Europe (Product, Distribution Channel, Application, Pricing, Installation, Capacity)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Product, Distribution Channel, Application, Pricing, Installation, Capacity)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Product, Distribution Channel, Application, Pricing, Installation, Capacity)
Brazil
Rest of Latin America
Middle East & Africa (Product, Distribution Channel, Application, Pricing, Installation, Capacity)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Daikin Industries, Ltd. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Carrier Global Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
LG Electronics Inc. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsubishi Electric Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Panasonic Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Johnson Controls International plc (Ireland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Hitachi-Johnson Controls Air Conditioning, Inc. (Japan/USA)