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Multi-split Air Conditioning Systems Market Share

Report ID: GMI11368
Published Date: Sep 2024
Report Format: PDF

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Multi-split Air Conditioning Systems Market Share

The multi-split air conditioning systems industry is fragmented, with several regional companies operating on a global scale. In 2023, the Carrier Corporation, Daikin Industries, LG Electronics, Panasonic Corporation, Trane Technologies led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.

Multi-split Air Conditioning Systems Market Companies

Major players operating in the multi-split air conditioning systems industry are:

Carrier Global Corporation
Daikin Industries Ltd.
Fujitsu General Ltd.
Gree Electric Appliances Inc.
Hitachi, Ltd.
Johnson Controls International plc
Lennox International Inc.
LG Electronics Inc.
Midea Group
Mitsubishi Electric Corporation
Panasonic Corporation
Samsung Electronics Co., Ltd.
Toshiba Carrier Corporation
Trane Technologies plc
York International Corporation

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of multi-split air conditioning systems was worth around USD 21.3 billion in 2023 and is estimated to register a CAGR of around 4.8% between 2024 and 2032, due to wider adoption of smart homes.

The wall-mounted multi-split systems segment is expected to reach USD 15.6 billion by 2032, owing to their compact design and unobtrusive appearance, gaining popularity in both residential and commercial settings.

Asia Pacific held the largest market share of around 43% in 2023 and will reach USD 14.3 billion by 2032, backed by the rapid urbanization, leading to a pronounced transition from rural to urban lifestyles.

Hitachi, Ltd., Johnson Controls International plc, Lennox International Inc., LG Electronics Inc., Midea Group, Mitsubishi Electric Corporation, Panasonic Corporation, and Samsung Electronics Co., Ltd. among others.