Global VRF System Market
The GMI Research forecasts that the VRF System Market is witnessing an upsurge in demand over the forecast period. This is mainly due to its several advantages, such as good zoning control, more undersized ductwork, high energy effectiveness, and excellent part-load performance.
Introduction of the VRF System Market:
A variable refrigerant flow (VRF) system includes a multi-split refrigerant solution that consists of multiple indoor evaporators connected to a single condensing unit. These systems cater to a larger capacity and accordingly control the refrigerant flow, thereby increasing energy efficiency. These systems are primarily implemented in the commercial sector with further applications such as buildings, educational institutions, healthcare facilities, hotels, and restaurants.
Key Players of the Global VRF System Market:
- Panasonic Corporation
- Lennox International Inc.
- Midea Group Co., Ltd.
- Trane Technologies Plc
- Johnson Controls International Plc
- Fujitsu Limited
- Raytheon Technologies Corporation
- LG Electronics Inc
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Daikin industries, Ltd.
VRF System Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global VRF systems market is mainly driven by the augmenting demand for power-saving sources coupled with the growing consciousness for environmental impact and the expansion in the construction sector. In addition, the energy-efficiency ability of these systems reduced ductwork and individual temperature control, and the robust demand for sophisticated air conditioning and heat pump solutions across individuals will stimulate the market growth. In addition, their growing usage across several commercial buildings, which include hotels, educational institutions, corporate offices, and restaurants, will further strengthen the VRF market size. The variable refrigerant flow (VRF) system offers an improved version of the multi-split system with heat recovery abilities and provides simultaneous heating and cooling accompanied by improving the efficiency and power-saving capacity of the HVAC system, thereby promoting the VRF market share.
Moreover, the capability of the systems to produce less noise during operation, higher adaptability, modular designs, easy installation feature, and convenient smart controls of room temperature will persuade individuals to opt for these systems. However, the growing cases of refrigerant leak, inflated installation costs, and insufficient awareness regarding their benefits will hinder the market growth.
VRF System Market Segmentation:
Segmentation by Type
- Heat Pump Systems
- Heat Recovery Systems
Segmentation by Component
- Outdoor Unit
- Compressors
- Inverters
- Others
- Indoor Units
- Control Systems and Accessories
Segmentation by Capacity
- Small Capacity
- Large Capacity
Segmentation by Application
- Commercial
- Residential
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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