According to a new report Global Variable Refrigerant Flow (VRF) Systems Market, published by KBV research, The Global Variable Refrigerant Flow (VRF) Systems Market size is expected to reach $35.4 billion by 2026, rising at a market growth of 17.2% CAGR during the forecast period.
The Heat Pump Systems market dominated the Global VRF System Market by Type 2019, growing at a CAGR of 15.9 % during the forecast period. The Heat Recovery Systems market is experiencing a CAGR of 18.9% during (2020 - 2026).
The Commercial market dominated the Global VRF System Market by End Use 2019. The market for VRF heat pump systems for residential applications will be driven by factors such as increasing disposable income, increasing awareness of energy efficiency and increasing energy costs. Such factors have contributed to the need for energy-efficient appliances, which can help to reduce energy usage and costs. Using various control devices, thermostats, and sensors, VRF systems provide a solution for all these problems.
Geographically, APAC was the largest regional market for VRF systems. APAC's market growth can be attributed to the presence of a large number of main manufacturers in the region and their high penetration in homes, workplaces, and hospitals. Although the usage of VRF HVAC systems in North America and Europe is much less than that in APAC, demand for such systems is growing at a rapid pace in the U.S., with major manufacturers in the country offering innovative solutions. Due to this, North America is expected to see the highest growth in the VRF systems market during the forecast period.
Structural Insights: https://www.kbvresearch.com/variable-refrigerant-flow-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of LG Electronics, Inc. (LG Corporation), Daikin Industries, Ltd., Toshiba Corporation, Mitsubishi Electric Corporation, Fujitsu Limited, Trane Technologies PLC, Lennox International, Inc., Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), and Johnson Controls International PLC.
Global Variable Refrigerant Flow (VRF) Systems Market Segmentation
- Heat Pump Systems
- Heat Recovery Systems
- Outdoor Units
- Indoor Units
- Control Systems & Accessories
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- LG Electronics, Inc. (LG Corporation)
- Daikin Industries, Ltd.
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Fujitsu Limited
- Trane Technologies PLC
- Lennox International, Inc.
- Panasonic Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
- Johnson Controls International PLC