Technavio, a market research firm, expects this year’s “split air conditioner” market to grow 5.24% worldwide, with incremental growth of $34.66 billion between 2019 and 2024. The Asia-Pacific region is expected to host 74% of that growth, and Technavio cites the desire for energy efficiency as a major driver.
Closer to home, the U.S. has seen its own dynamic unfold as perceptions evolve about residential ductless and ducted VRF options. Dissatisfaction with mini split heating performance in colder climates became a sort of stereotype in the early era of the domestic market.