Global Variable Refrigerant Flow (VRF) Market, By Component (Outdoor Units, Indoor Units, Control Systems and Accessories), System Type (Heat Pump Systems, Heat Recovery Systems), Implementation (New Constructions, Retrofits), Application (Commercial, Residential, Others), Capacity (Up to 10 Tons, 11 to 18 Tons, 19 to 26 Tons, Above 26 Tons), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Variable Refrigerant Flow (VRF) Market
Variable refrigerant flow (VRF) market is expected to reach USD 45.15 billion by 2028 witnessing market growth at a rate of 12.50% in the forecast period of 2021 to 2028. Data Bridge Market Research report on variable refrigerant flow (VRF) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Variable refrigerant flow (VRF) systems are systems that, depending on the system's specifications, adjust the flow of refrigerant to indoor devices. These systems have the ability to monitor and manage the refrigerant flow that is supplied through the building area to a fan coil unit. These systems are mainly available in two types of heat pump systems and heat recovery systems which, depending on the requirement for simultaneous heating and cooling, can be used in various applications.
Increasing government incentives through tax credit programs, high energy-saving potential as well as easy and minimum maintenance requirements of VRF systems, growing construction industry and easing of norms of FDI for construction and real estate sectors, rising focus of major players on providing technologically advanced refrigerants for air conditioning and heat pump solutions, increasing number of regulations and policies of EU government pertaining to construction products are some of the major as well as vital factors which will drive the variable refrigerant flow (VRF) market growth in the projected timeframe of 2021-2028. On the other hand, increasing number of applications in residential and commercial sector along with rising government initiatives globally and expansion in the construction sector which will further contribute by generating massive opportunities that will lead to the growth of the variable refrigerant flow (VRF) market in the above mentioned projected timeframe.
Increasing cost of installation along with harmful environmental impacts which will likely to act as market restraints factor for the growth of the variable refrigerant flow (VRF) in the above mentioned projected timeframe. Lack of awareness among the people in developing economies which will become the biggest and foremost challenge for the growth of the market.
This variable refrigerant flow (VRF) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on variable refrigerant flow (VRF) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Variable Refrigerant Flow (VRF) Market Scope and Market Size
Variable refrigerant flow (VRF) market is segmented on the basis of component, capacity, system type, implementation and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Variable refrigerant flow (VRF) market on the basis of component has been segmented as outdoor units, indoor units, control systems and accessories. Outdoor units have been further segmented into compressors, inverters, and others. Others have been further sub segmented into suction accumulators, and liquid receivers. Compressors have been further sub segmented into air cooled, and water cooled. Indoor units have been further segmented into electronic expansion valves, synchronous electronic motors, and others. Others have been further sub segmented into filters, and drain lines.
- Based on capacity, the variable refrigerant flow (VRF) market has been segmented into up to 10 tons, 11 to 18 tons, 19 to 26 tons, and above 26 tons.
- On the basis of system type, the variable refrigerant flow (VRF) market has been segmented into heat pump systems, and heat recovery systems. Heat pump systems have been further segmented into air-source heat pump systems, and ground-source heat pump systems.
- On the basis of application, the variable refrigerant flow (VRF) market has been segmented into commercial, residential, and others. Commercial segment has been further segmented into office buildings, retail stores, healthcare facilities, hospitality buildings, educational buildings, historical buildings, and government buildings. Others have been further segmented into metro stations, railway stations, and airports.
- Variable refrigerant flow (VRF) has also been segmented on the basis of implementation into new constructions, and retrofits.
Variable Refrigerant Flow (VRF) Market Country Level Analysis
Variable refrigerant flow (VRF) market is analysed and market size, volume information is provided by country, component, capacity, system type, implementation and application as referenced above.
The countries covered in the variable refrigerant flow (VRF) market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the variable refrigerant flow (VRF) market due to the increasing awareness about energy efficiency and easy installation process with minimum piping work along with introduction of advanced environment-friendly refrigerants in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the rapid urbanization and increasing population along with growing awareness about energy efficiency in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Variable Refrigerant Flow (VRF) Market Share Analysis
Variable refrigerant flow (VRF) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to variable refrigerant flow (VRF) market.
The major players covered in the variable refrigerant flow (VRF) market report are DAIKIN INDUSTRIES, Ltd.; AHIC (Australia) Pty Ltd; Mitsubishi Electric Corporation; Midea.; Johnson Controls.; LG Electronics.; FUJITSU GENERAL; Ingersoll-Rand plc; Lennox International Inc.; Panasonic Corporation; Samsung HVAC; Nortek Global HVAC; Nortek Global HVAC; GREE North America; Emerson Electric; Whirlpool of India.; Hitachi, Ltd.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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