As per the current market research conducted by the CMI Team, the global Split Air Conditioning Systems Market size is expected to record a CAGR of 5.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 24.44 Billion. By 2032, the valuation is anticipated to reach USD 37.9 Billion.

Split Air Conditioning Systems Market: Growth Factors and Dynamics

  • Technological Advancements: Ongoing innovations and technological advancements, including energy-efficient designs and smart features, are propelling the market forward. Customers seek cutting-edge solutions that offer improved performance and convenience.
  • Environmental Concerns: Growing environmental awareness has led to a shift towards eco-friendly refrigerants and energy-efficient systems to mitigate the ecological impact of air conditioning. Stringent regulations and consumer preferences for green solutions are influencing market dynamics.
  • Economic Factors: Economic conditions, including disposable income and consumer purchasing power, play a significant role in market growth. In emerging economies, increasing middle-class populations and rising incomes are driving demand for split air conditioning systems.
  • Urbanization and Construction: Rapid urbanization leads to the construction of residential and commercial buildings, creating a surge in demand for air conditioning systems. The real estate and construction sectors have a direct impact on market dynamics.
  • Regional Variances: Different regions exhibit distinct dynamics based on climate, consumer preferences, and government regulations. For example, hot climates drive demand in some areas, while energy efficiency is paramount in others.
  • Energy Efficiency Regulations: Energy efficiency standards and regulations influence the development and adoption of air conditioning systems. Compliance with these standards is essential to market success.
  • Consumer Preferences: Shifting consumer preferences for features like smart controls, noise reduction, and air quality enhancements impacts the design and marketing of split air conditioning systems.
  • Competition: The competitive landscape is intense, with established and emerging players vying for market share. Competition drives product innovation and cost efficiency.
  • Supply Chain Disruptions: Events like the COVID-19 pandemic have exposed vulnerabilities in global supply chains, affecting production and distribution, thus impacting market dynamics.
  • Price Sensitivity: Price sensitivity among consumers, especially in price-conscious markets, influences purchasing decisions. Affordable, budget-friendly options often gain traction.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 25.78 Billion
Projected Market Size in 2032 USD 37.9 Billion
Market Size in 2022 USD 24.44 Billion
CAGR Growth Rate 5.7% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Application, Product and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Split Air Conditioning Systems Market: COVID-19 Analysis

  • Disruption in Supply Chain: The global lockdowns and restrictions on movement disrupted supply chains, affecting the production and distribution of air conditioning systems. Delays in the supply chain led to shortages and logistical challenges.
  • Reduction in Construction Activity: Many construction projects were put on hold or delayed due to the pandemic. This impacted the demand for split air conditioning systems in new residential and commercial buildings.
  • Consumer Spending Constraints: Economic uncertainties and reduced consumer spending led to a decline in the purchase of non-essential items, including air conditioning systems. Consumers were more focused on essential needs during the pandemic.
  • Shift Towards Home Office and Remote Learning: With more people working and studying from home, there was an increased demand for efficient home cooling solutions, boosting sales of smaller residential air conditioning systems.
  • Focus on Indoor Air Quality: The pandemic heightened awareness of indoor air quality. This led to a demand for air conditioning systems with advanced air purification and filtration features.
  • Energy Efficiency and Health Considerations: Consumers increasingly looked for energy-efficient systems to reduce long-term operational costs. Health concerns related to air quality also influenced purchasing decisions.
  • Remote Control and Smart Features: Smart and connected air conditioning systems gained popularity as people sought more control over their indoor environments.

Global Split Air Conditioning Systems Market 2023–2032 (By Billion)

List of the prominent players in the Split Air Conditioning Systems Market:

  • 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
  • Others

The Split Air Conditioning Systems Market is segmented as follows:

By Product

  • Mini Split Ac
  • Multi Split AC
  • VRF
  • Floor Ceiling

By Distribution Channel

  • Online
  • Offline

By Application

  • Commercial
  • Residential

By Pricing

  • Low
  • Medium
  • High

By Installation

  • Wall Mounted
  • Freestanding

By Capacity

  • Less than 1 Ton
  • 1 Ton to 1.5 Ton
  • 1.5 Ton to 2.0 Ton
  • More than 2.0 Ton

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America


  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America