Report ID : AMR1005012 | Industries : | Published On :January 2024 | Page Count : 120
Global VRF System Market Size, Share & Trends Analysis Report, By Component (Indoor Units, Outdoor Units, Control Systems and Accessories), By System Type (Heat Pump VRF Systems, Heat Recovery VRF Systems), By Application (Commercial, Residential Buildings, Others), By Region, And Segment Forecasts, Till – 2030
Market Overview
According to Analytical Market Research, the global VRF System market estimated at USD 15 billion in 2022 and will expand at a compound annual growth rate (CAGR) of 8.61% from 2023 to 2030. Key players in the VRF System market employ various strategies to maintain and enhance their market presence. These strategies help key players capture a significant market share and remain competitive in the dynamic VRF System market. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated includes proficient analysis, predictive analysis, prescriptive analysis, cumulative analysis, and value chain analysis.
VRF SYSTEM MARKET DYNAMICS: KEY DRIVERS & RESTRAINTS
Energy-Efficient System Driving The Market Growth
The rapid growth in demand for energy-efficient HVAC systems has been cited as a major driver for the global VRF system market's growth during the forecast period. The VRF systems are energy efficient due to its sophisticated variable speed compressor that only operates at the capacity required at a given temperature. Also, these systems allow for the simultaneous heating and cooling of multiple zones, which is quite beneficial. These factors drive the market.
Highly Complex, Complicated Installation & Time-Consuming System Restraint The Market Growth
Many manufacturers face prominent hurdles because of the design complexity. Installation od system is very complicated and time-consuming, as well as expensive, because of the VRF piping and specific installation requirements. Also, if the installation process is done incorrectly, the system's general functionality may be harmed. These factors hamper the growth of the market.
How are Segments Performing in the Global VRF System Market?
VRF System Component Segment Breakdown
According to Analytical Market Research, the VRF System market by component is segmented into Indoor Units, Outdoor Units, Control Systems and Accessories
VRF System Type Segment Breakdown
According to Analytical Market Research, based on system type the market is bifurcated into Heat Pump VRF Systems, and Heat Recovery VRF Systems
VRF System Application Segment Breakdown
According to Analytical Market Research, based on application the market is segmented into Commercial, Residential Buildings, and Others
VRF System Geographic Exploration
According to Analytical Market Research, the North American region is expected to dominate the market during the forecast period. VRF systems have grown in popularity in the region as people become more aware of the importance of energy efficiency and the ease with which they can be installed with minimal piping work. Many firms have recently launched VRF systems that use refrigerants with low global warming potential in North America.
Other regions competing in the market are Asia Pacific, Europe, Middle East and Africa, and Latin America respectively.
COMPETITIVE LANDSCAPE & RECENT DEVELOPMENT: VRF SYSTEM
The competitive landscape of the market is fragmented. The significant players rapidly evolve with new strategies to attain a competitive edge and capture significant market share.
• For instance, in July 2021, the new DVM S2 Variable Refrigerant Flow outdoor air conditioning unit from Samsung Electronics launched globally. It combines with interior units to deliver the company's patented Wind Free Cooling anywhere without the pain of direct cold air flow indoors.
Noticeable Players Functioning in The Global VRF System Market Include:
• Daikin Industries
• Mitsubishi Electric
• Hitachi
• Midea Group
• United Technologies
• Samsung Electronics
• Panasonic
• Lennox International
• Ingersoll Rand
• Fujitsu General
KEY BREAKDOWN: VRF SYSTEM MARKET
By Component:
• Indoor Units
• Outdoor Units
• Control Systems and Accessories
By System Type:
• Heat Pump VRF Systems
• Heat Recovery VRF Systems
By Application:
• Commercial
• Residential Buildings
• Others
Geographical Exploration:
• North America
o The USA
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of Middle East & Africa
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1. Research Methodology
1.1. Global VRF System Market Snapshot, 2023 and 2030
1.2. Data Mining
1.3. Validation
1.4. Primary Interviews
1.5. List of Data Sources
1.6. Future Market Projections
1.7. Industry Developments and Key Market Events
2. Executive Summary
3. Market Overview
3.1. Market Scope and Definition
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunity
3.2.4. Challenges
3.2.5. Cumulative Impact due to Recent Energy Crisis
3.2.6. Cumulative Impact due to Nearing Economic Downturn
3.2.7. Post Covid-19 World Supply & Demand Conditions
3.2.8. Cumulative Impact of Russia-Ukraine Conflict
3.2.9. Key Trends
3.3. VRF System Market: Value Chain
3.3.1. List of Raw Material Supplier
3.3.2. List of Manufacturers
3.3.3. List of Application
3.4. Porter Five Force’s Analysis
3.5. Regulatory and Technology Landscape
4. Global VRF System Market Outlook: Forecast (2023 – 2030)
4.1. Key Highlights
4.1.1. Market Size and Y-o-Y Growth
4.1.2. Absolute $ Opportunity
4.2. Market Size (US$ Mn) Analysis and Forecast
4.2.1. Current Market Size Forecast, 2023–2030
4.3. Global VRF System Market Outlook: Component
4.3.1. Introduction / Key Findings
4.3.2. Market Size (US$ Mn) and Forecast Component, 2023 – 2030
4.3.2.1. Indoor Units
4.3.2.2. Outdoor Units
4.3.2.3. Control Systems and Accessories
4.4. Global VRF System Market Outlook: System Type
4.4.1. Introduction / Key Findings
4.4.2. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
4.4.2.1. Heat Pump VRF Systems
4.4.2.2. Heat Recovery VRF Systems
4.5. Global VRF System Market Outlook: Application
4.5.1. Introduction / Key Findings
4.5.2. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
4.5.2.1. Commercial
4.5.2.2. Residential Buildings
4.5.2.3. Others
5. Global VRF System Market Outlook: Region
5.1. Key Highlights
5.2. Market Size (US$ Mn) and Forecast By Region, 2023 – 2030
5.2.1. North America
5.2.2. Europe
5.2.3. Asia Pacific
5.2.4. Latin America
5.2.5. Middle East & Africa (MEA)
6. North America VRF System Market Outlook: Forecast (2023 – 2030)
6.1. Key Highlights
6.2. Pricing Analysis
6.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2022
6.3.1. By Country
6.3.2. By Component
6.3.3. By System Type
6.3.4. By Application
6.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
6.4.1. U.S.
6.4.2. Canada
6.4.3. Mexico
6.5. Market Size (US$ Mn) and Forecast By Component, 2023 – 2030
6.5.1. Indoor Units
6.5.2. Outdoor Units
6.5.3. Control Systems and Accessories
6.6. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
6.6.1. Heat Pump VRF Systems
6.6.2. Heat Recovery VRF Systems
6.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
6.7.1. Commercial
6.7.2. Residential Buildings
6.7.3. Others
7. Europe VRF System Market Outlook: Forecast (2023 – 2030)
7.1. Key Highlights
7.2. Pricing Analysis
7.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
7.3.1. By Country
7.3.2. By Component
7.3.3. By System Type
7.3.4. By Application
7.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
7.4.1. Germany
7.4.2. France
7.4.3. U.K.
7.4.4. Russia
7.4.5. Italy
7.4.6. Spain
7.4.7. Rest of Europe
7.5. Market Size (US$ Mn) and Forecast By Component, 2023 – 2030
7.5.1. Indoor Units
7.5.2. Outdoor Units
7.5.3. Control Systems and Accessories
7.6. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
7.6.1. Heat Pump VRF Systems
7.6.2. Heat Recovery VRF Systems
7.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
7.7.1. Commercial
7.7.2. Residential Buildings
7.7.3. Others
8. Asia Pacific VRF System Market Outlook: Forecast (2023 – 2030)
8.1. Key Highlights
8.2. Pricing Analysis
8.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
8.3.1. By Country
8.3.2. By Component
8.3.3. By System Type
8.3.4. By Application
8.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. South Korea
8.4.5. Australia
8.4.6. New Zealand
8.4.7. Singapore
8.4.8. Malaysia
8.4.9. Rest of Asia
8.5. Market Size (US$ Mn) and Forecast By Component, 2023 – 2030
8.5.1. Indoor Units
8.5.2. Outdoor Units
8.5.3. Control Systems and Accessories
8.6. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
8.6.1. Heat Pump VRF Systems
8.6.2. Heat Recovery VRF Systems
8.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
8.7.1. Commercial
8.7.2. Residential Buildings
8.7.3. Others
9. Latin America VRF System Market Outlook: Forecast (2023 – 2030)
9.1. Key Highlights
9.2. Pricing Analysis
9.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
9.3.1. By Country
9.3.2. By Component
9.3.3. By System Type
9.3.4. By Application
9.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
9.4.1. Brazil
9.4.2. Argentina
9.4.3. Colombia
9.4.4. Peru
9.4.5. Chile
9.4.6. Venezuela
9.4.7. Rest of Latin America
9.5. Market Size (US$ Mn) and Forecast By Component, 2023 – 2030
9.5.1. Indoor Units
9.5.2. Outdoor Units
9.5.3. Control Systems and Accessories
9.6. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
9.6.1. Heat Pump VRF Systems
9.6.2. Heat Recovery VRF Systems
9.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
9.7.1. Commercial
9.7.2. Residential Buildings
9.7.3. Others
10. Middle East & Africa VRF System Market Outlook: Forecast (2023 – 2030)
10.1. Key Highlights
10.2. Pricing Analysis
10.3. Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2023 – 2030
10.3.1. By Country
10.3.2. By Component
10.3.3. By System Type
10.3.4. By Application
10.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
10.4.1. Saudi Arabia
10.4.2. UAE
10.4.3. Egypt
10.4.4. Kuwait
10.4.5. South Africa
10.4.6. Rest of Middle East & Africa
10.5. Market Size (US$ Mn) and Forecast By Component, 2023 – 2030
10.5.1. Indoor Units
10.5.2. Outdoor Units
10.5.3. Control Systems and Accessories
10.6. Market Size (US$ Mn) and Forecast By System Type, 2023 – 2030
10.6.1. Heat Pump VRF Systems
10.6.2. Heat Recovery VRF Systems
10.7. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
10.7.1. Commercial
10.7.2. Residential Buildings
10.7.3. Others
11. Competition Analysis
11.1. Market Share Analysis Of Top Vendors
11.2. Market Structure
11.2.1. Competition Intensity Mapping By Market
11.2.2. Competition Dashboard
11.2.3. Key Development Strategies
11.3. Company Profiles
11.3.1. Daikin Industries
11.3.1.1. Overview
11.3.1.2. Offerings
11.3.1.3. Business Segment & Geographic Overview
11.3.1.4. Key Financials
11.3.1.5. Key Market Developments
11.3.1.6. Key Market Strategy
11.3.2. Mitsubishi Electric
11.3.3. Hitachi
11.3.4. Midea Group
11.3.5. United Technologies
11.3.6. Samsung Electronics
11.3.7. Panasonic
11.3.8. Lennox International
11.3.9. Ingersoll Rand
11.3.10. Fujitsu General
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