The global VRF AC system is growing at a CAGR of 5.3% during the forecast period. The major factors that are augmenting the growth of the VRF AC market include increasing demand for energy-efficient heating, ventilation, air conditioning (HVAC), and the growth of various industries including construction and manufacturing. Furthermore, initiatives are taken by the government to ease the foreign direct investment (FDI) standards in the real estate sector, enlargement of open network compatibility, the polarization of VRF designed for cold regions are also estimated to be the major factors that are significantly contributing towards the growth of the market. Additionally, the growing distribution of VRF AC systems in high-rise buildings is expected to provide profitable opportunities to the players that are operating in the VRF systems market.
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The market is segmented based on application, type, and duct type. By application, the market is segmented into commercial, residential, and others. Based on the type, the market is segmented into heat pump systems and heat recovery systems. Based on components, indoor units and outdoor units. The residential segment is expected to hold a significant market share in the global VRF AC system market. The residential segment is primarily driven by various advantages offered by VRF systems such as improved energy efficiency along with the low cost of operations and individual control system for each household. As a result, an increasing number of managers along with owners of property are involved in the installation of the VRF AC system. These systems are becoming a preferable option for apartments along with collective housing due to long life different circumstances and conditions, high air-conditioning performance, and service.
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Global VRF AC System Market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to be one of the leading regions in the global VRF AC system market. Growing awareness about energy efficiency, simple installation along with minimum work of piping, advanced and upgraded environmentally friendly refringent among others. The Asia-Pacific is estimated to be the fastest-growing region during the forecast period.
Global VRF AC System Market – Segmentation
by Application
Commercial
Residential
Other
by Type
Heat Pump System
Heat Recovery System
by Components
Indoor Units
Outdoor Units
Global VRF AC System Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Electrolux AB
Blue Star, Ltd.
Carrier Global Corp.
Daikin Industries, Ltd.
Fujitsu General, Ltd.
Godrej & Boyce Manufacturing Co. Ltd.
Gree Electric Appliances, Inc.
Guangdong Chigo Air Conditioning Co. Ltd.
Haier Electronics Group Co. Ltd. (GE Appliances)
Hitachi, Ltd.
Ingersoll Rand Plc
Johnson Controls, Inc.
Lennox International, Inc.
LG Electronics, Ltd.
Midea Group
Mitsubishi Electric Corporation
Nortek Global HVAC LLC
Panasonic Corp.
Samsung Electronics Co., Ltd.
Toshiba Corp.
Trane Corp.
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