Global VRF System Market

Dec 2018| VMR851A| Verified Market Research

Report Highlights

Global VRF System Market
By Component (Control Systems and Accessories, Outdoor Units, Indoor Units), System Type (Heat Recovery Systems, Heat Pump Systems), Application (Residential, Commercial), and Regional Market Size, Status and Forecast to 2025

Market Overview:
The Global VRF System Market was valued at USD 10.65 billion in 2016 and is projected to reach USD 30.89 billion by 2025, growing at a CAGR of 12.56% from 2017 to 2025.

Variable Refrigerant Flow (VRF) air conditioning systems is an extremely energy efficient means of precisely regulating the temperature within buildings. This system enables simultaneous heating and cooling and better heat recovery from one zone to another in a heating, ventilation, and air conditioning system. Benefits of VRF system includes - quiet operation, energy efficiency, installation flexibility, heat and cools simultaneously, state-of-the-art controls, fewer breakdowns, easy design, installation and maintenance.

Market Dynamics:
1. Market Drivers
1.1 Growing penetration of VRF systems for residential applications
1.2 Growing real estate and construction industries
1.3 Easy and minimum maintenance with high energy saving capability of VRF systems
1.4 Need of technologically advanced refrigerants for air conditioning and heat pump solutions
1.5  Increasing adoption of heat pump and heat recovery systems

2. Market Restraints
2.1 Increasing installation cost
2.2 Complex VRF designing
2.3 Poor safety standards

Market Segmentation:
The Global VRF System Market is segmented on the component, system type, application, and region.

1. Component:
1.1 Control Systems and Accessories
1.2 Outdoor Units
1.3 Indoor Units

2. By System Type:
2.1 Heat Recovery Systems
2.2 Heat Pump Systems

3. By Application:
3.1 Residential
3.2 Commercial
3.3 Others

4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. LG Electronics
2. Fujitsu Group
3. Daikin Industries
4. Mitsubishi Electric
5. United Technologies
6. Toshiba
7. Samsung Electronics
8. Panasonic
9. Lennox International
10. Ingersoll Rand
11. Midea Group
12. Johnson Controls

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Research study on the Global VRF System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.

Verified Market Research has been providing Research Reports, with up to date information, and in-depth analysis, for several years now, to individuals and companies alike that are looking for accurate Research Data. It has large database which includes the latest content from renowned authors and publications worldwide. It also provides customized Data and Reports according to the need of the client.

Why BCC Research?

Every purchase provides access to:

  • Thousands of recently published reports from select publishers
  • Member Discounts of up to 50% on over 20,000 additional reports from all publishers
  • Our analysts and research concierge for all inquiries

Need a custom data table, graph or complete report? Tell us more.

Contact Us