Split Air Conditioning Systems Market Size, Share, Growth Analysis, By Application(Commercial and Residential), By Product(Mini split ac, Multi split ac) - Industry Forecast 2024-2031

Global split air conditioning systems market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global market.

For example, in April 2021, Panasonic Corporation acquired Blue yonder, a leading end-to-end digital fulfilment platform provider. The combined efforts of both companies to increase automation and provide actionable, real-time business insights, reduce waste and enhance operations are expected to help customers gain a distinct competitive edge.

In June 2020, Haier Group Corporation launched self-clean inverter technology, a patented Haier innovation. This technique enables users to clean the evaporator of a split air conditioner with minimal effort. Air conditioners clean themselves through defrosting, frosting, cold expansion, and a system that removes all debris that enters the unit. Haier's client base is expected to grow as a result of this technology.

Split Air Conditioning Systems Market Top Player's Company Profiles

• Daikin Industries, Ltd.
• Mitsubishi Electric Corporation
• Fujitsu General Limited
• LG Electronics Inc.
• Samsung Electronics Co., Ltd.
• Panasonic Corporation
• Carrier Corporation
• Johnson Controls International plc
• Trane Technologies plc
• Haier Group Corporation
• Midea Group Co., Ltd.
• Gree Electric Appliances Inc. of Zhuhai
• Toshiba Corporation
• Hitachi, Ltd.
• Rheem Manufacturing Company
• Sharp Corporation
• Hisense Kelon Electrical Holdings Company Limited
• Whirlpool Corporation
• Electrolux AB
• Voltas Limited

Split Air Conditioning Systems Market Recent Developments

• In August 2021, Johnson Controls-Hitachi Air Conditioning India to expand its manufacturing facilities in Gujarat, India. The company aims to provide its customers in the residential and commercial air conditioning market with innovative air conditioning solutions for their residential and commercial spaces.

• On January 2021, Panasonic plans to invest in domestic manufacturing in India, doubling its AC business over the next three years. The company, which introduced the HU series of ACs with the recently announced nanoeX technology, is eyeing around 35% growth in sales in this segment this year due to increased demand. According to the company, nanoeX technology releases hydroxyl radicals in water, also known as "nature's detergent", capable of inhibiting 99.99% of bacteria and viruses, including the adherent coronavirus.