With year-after-year double-digit growth and a projected compound annual growth rate (CAGR) of more than 14 percent between 2013 and 2020, opportunities in the ductless market are sprouting like May flowers.
“It’s, without question, one of the fastest-growing segments in North American HVAC,” said Tom Lahutsky, senior product manager, Lennox Intl. Inc. “The market is very competitive. There are a lot of different solutions out there from some very good suppliers. This growth, which means more units are being shipped, pulls all the manufacturers in.”
Lennox is one of many companies updating its product portfolio in an effort to keep up with the accelerated progress of the sector.
“The ductless market will continue to grow. We don’t see any end in sight for it,” said Lahutsky. “We’ll continue to invest in this area and update our products.”