Variable Refrigerant Flow (VRF) Systems Market Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Daikin industries, Midea Group, Mitsubishi Electrical

The global market for Variable Refrigerant Flow (VRF) Systems is expected to register a CAGR of more than 11.0% during the forecast period 2022-2027.

Variable Refrigerant Flow (VRF) Systems Market Overview

Variable Refrigerant Flow (VRF) system refer to the type of system that is extremely energy efficient which precisely regulates the temperature within buildings. The system allows simultaneous heating and cooling and provide better heat recovery from one zone to another in a ventilation, air conditioning system and heating. Energy efficiency, fewer breakdowns, quiet operation, and easy design among others are some of the benefits of the VRF system.

The increase in demand for energy-efficient resources across the globe acts as one of the major factors driving the growth of Variable Refrigerant Flow (VRF) systems market. The rise in the construction industry along with easing of norms of FDI for construction and real estate sectors, and increase in the implementation of regulations and policies of EU government pertaining to construction products accelerate the market growth. High energy-saving potential as well as easy and minimum maintenance requirements of VRF systems, and rise in emphasis on offering technologically advanced refrigerants for air conditioning and heat pump solutions further influence the market. On the other hand, high cost associated with the installation and concerns regarding the Harmful environmental impacts of refrigerant leaks are expected to obstruct the market growth. Lack of awareness regarding VRF systems in developing countries is projected to challenge the Variable Refrigerant Flow (VRF) systems market in the forecast period of 2022-2027.

Who are the Major Players in the Variable Refrigerant Flow (VRF) Systems Market?

The global Variable Refrigerant Flow (VRF) Systems includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Daikin industries, Midea Group, Mitsubishi Electrical, Ingersoll Rand, LG Electronics, Toshiba Corporation, Johnson Controls, United Technologies Corporation, Fujitsu, Lennox International  and others.

Recent Developments

Samsung India Launches India’s First AI enabled New DVM S2 Variable Refrigerant Flow (VRF) ACs with Smarter and Faster Cooling

 06-04-2022: Samsung, India’s most trusted consumer electronics brand, today announced the launch of its new DVM S2 Variable Refrigerant Flow (VRF) outdoor air conditioning unit that works with indoor AC units to provide windfree cooling that powerfully and gently cools the ambient temperature of the room. WindFree™ technology eliminates harsh cold drafts and disperses air through 23,000 micro holes at a speed of 0.15 m/s that helps in creating a still air environment.

Toshiba Expands its Global Alliance Program with Launch of New ISV Partner Program

March 16, 2022: Today launched its new Independent Software Vendor (ISV) Partner Program, significantly expanding its Global Commerce Alliance Program for third-party retail solution providers. The new ISV program gives software vendors the opportunity to join Toshiba’s extensive partner ecosystem of top resellers, distributors, and integrators across the retail industry. Program partners will also gain access to the company’s global resources including technology and engineering support, joint marketing, along with the opportunity to collaborate with other leading independent Toshiba retail solution providers.

What are the major Applications, Types and Regions for Variable Refrigerant Flow (VRF) Systems Market?

Variable Refrigerant Flow (VRF) Systems Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Heat Recovery System


• Heat Pump System


• Others

By Applications it is segmented into

• Commercial


• Residential


• Others

Market Segments Analysis

• The heat pump system segment accounted for the major share of the market in 2020. A heat pump is widely used in HVAC systems as it helps to maintain precise temperature control and reduce energy consumption. The heat pump is a fully reversible system, due to which it can provide heating in winter and cooling in summer.


• In the residential sector, VRF systems are used for reducing energy consumption and cost. These systems have a long product life under harsh conditions, high air-conditioning performance, and excellent service, due to which they are also widely accepted in the industrial sector.

Variable Refrigerant Flow (VRF) Systems Market Regional Analysis

In 2020, Asia Pacific is expected to have the greatest market share with USD 10.12 billion. This is due to the presence of a significant number of key manufacturers, such as Panasonic Corporation, Daikin, Toshiba Corporation, and Mitsubishi Electric, as well as the increasing usage of HVAC systems in commercial buildings throughout the region. Because of its excellent energy efficiency and ease of installation, VRF systems have grown in popularity in North America. Furthermore, a number of companies have introduced similar systems that use low-GWP refrigerants.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Variable Refrigerant Flow (VRF) Systems Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Variable Refrigerant Flow (VRF) Systems Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Variable Refrigerant Flow (VRF) Systems Market report scope?

Key Takeaways from this Variable Refrigerant Flow (VRF) Systems Report

• Evaluate Variable Refrigerant Flow (VRF) Systems market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Variable Refrigerant Flow (VRF) Systems market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of Variable Refrigerant Flow (VRF) Systems Market?

The Variable Refrigerant Flow (VRF) Systems Market is growing at a CAGR of 11.0% over the next 5 years.

Who are the key players in Variable Refrigerant Flow (VRF) Systems Market?

Daikin industries, Midea Group, Mitsubishi Electrical, Ingersoll Rand, LG Electronics, Toshiba Corporation, Johnson Controls, United Technologies Corporation, Fujitsu, Lennox International 

What are the significant types of Variable Refrigerant Flow (VRF) Systems Market?

Heat Recovery System, Heat Pump System, Others

What are the major end-use applications of Variable Refrigerant Flow (VRF) Systems Market?

Commercial, Residential, Others

On the basis of type, which segment is likely to dominate the Variable Refrigerant Flow (VRF) Systems Market in the forecast period?

The heat pump system segment accounted for the major share of the market in upcoming years.

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