Ceiling Cassettes Market: Introduction
Ceiling Cassettes are employed in the heating, ventilation, and air conditioning (HVAC) systems to provide exceptional coverage, and they are energy efficient. Ceiling Cassettes are used in a huge array of applications, such as residential, commercial and industrial. As the name suggests, ceiling cassettes are wall mounted and can be customized as one-way, two way or four-way, according to requirement. Further, ceiling cassettes are classified to their product type which could be either ductless ceiling cassettes or ducted ceiling cassettes.
Ceiling Cassettes Market:Drivers and Challenges
Technological advancements, such as ceiling cassettes can be controlled and managed from a remote location via applications on devices such as smartphones, tablets or computers or even via smart assistants, such as smart thermostats, deployed in a household. Most ceiling cassettes are eco-friendly with integrated low power consumption standards. More than ever before, these smart HVAC systems have increased the demand for ceiling cassettes. This, in turn, drives the demand of the ceiling cassettes market. Further, digitalization and electrification are a couple of other factors attributing towards the growth of the market. Compact design, easy installation, easy operation, and high process reliability are other factors driving the global Ceiling Cassettes market.
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With adverse changes in climate, and need to pace up the energy saving requirements proposed by the UNFCCC (United Nations Framework Convention on Climate Change), there has been increasing demand of HVAC systems that can offer both high performance and comfort. Contractors and manufacturers are aiming to introduce compact and lightweight products for easy installation and maintaining a comfortable environment.
Ceiling cassette market is expected to be driven by a number of government organizations that are taking initiatives to develop smart cities with efficient and ecological climate control. In addition, the rising use of smart technology and IoT is helping countries adopt the smart city concept. With the inclination towards the development of smart cities, construction activities will increase, which will lead to the growth of the smart home solutions market, and consecutively driving the demand for ceiling cassettes. Increasing building automation is another factor contributing towards the growth of the ceiling cassettes market. Integration of other technologies such as Bluetooth and RFID for HVAC system control could create growth opportunities for the ceiling cassettes market.
On the flip side, the lack of resources and technological awareness could hinder consumer transition from using a simple conventional air conditioner to smart air conditioner, thereby challenging the demand for ceiling cassettes.
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Global Ceiling Cassettes: Market Segmentation
On the basis of product type, the global Ceiling Cassettes market has been segmented as:
- Ducted Ceiling Cassettes
- Ductless Ceiling Cassettes
On the basis of capacity, the global Ceiling Cassettes market has been segmented as:
- Below 5.8 kW
- Between 5.8 to 14 kW
- Above 14 kW
On the basis of application, the global Ceiling Cassettes market has been segmented as:
- Commercial Healthcare Hospitality Retail and offices Others
Ceiling Cassettes Market: Regional Overview
Geographically, the Ceiling Cassettes market is segmented into North America, Latin America, Western Europe, Eastern Europe, China, Japan, India, Middle East and Africa, and South East Asia and Pacific. China, being the electronics manufacturing hub, leads the ceiling cassettes market. The South East Asia and Pacific market is expected to follow China in terms of its market growth rate, during the forecast period. The growth in the SEA and India market is attributed to the rising maturity in the electronics industry. North America and Western Europe are expected to witness significant demand over the forecast period owing to the implementation of a number of energy efficiency legislation and programs. Also, replacement and retrofit of ceiling cassettes are expected to contribute towards the growth of the ceiling cassettes market in developed countries. Moreover, tropical regions, such as the Middle East and Africa to see the notable demand for HVAC systems due to global warming, thus driving the demand for ceiling cassettes in the region.
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Global Ceiling Cassettes Market: Key Players
Examples of some of the key players operating in the global Ceiling Cassettes market:
- Mitsubishi Heavy Industries Air Conditioning Europe, Ltd.
- Hitachi, Ltd.
- LG Electronics
- Friedrich Air Conditioning
- Lennox International Inc.
- O.Y.L. Manufacturing Company Sdn. Bhd
- Modine Manufacturing
- Carrier Airconditioning & Refrigeration Ltd.
- Johnson Controls
- Systemair AB
- AERMEC S.P.A.
- Airedale Air Conditioning