VRF Systems Market Research Report - Global Forecast till 2027

Global VRF Systems Market Research Report: By Component (Outdoor Units, Indoor Units and Control Systems and Accessories), Compressor Units (Air-Cooled Units and Water-Cooled Units), System Type (Heat Pump System, Heat Recovery System), Capacity (Upto 10 Tons, 11 to 18 Tons, 19 to 26 Tons, Above 26 Tons), Application (Residential, Healthcare, Automobile, Hotels, Educational Institutes, Retail Store, Others) - Forecast till 2027

ID: MRFR/SEM/8650-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2020-2026 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis


Global VRF Systems Market is estimated to reach USD 29,478.1 Million by 2026, registering a CAGR of 11.0% during the forecast period of 2020–2026.


Variable refrigerant flow (VRF) systems are the systems that change the flow of refrigerant to indoor units based on the requirement by the system. These systems have the capability to control and maintain the flow of refrigerant which is provided to a fan coil unit across the building area. These systems are primarily available in two forms of heat pump systems and heat recovery systems that can be used in various applications according to the demand for simultaneous heating and cooling. Various factors are increasing the demand for the VRF systems such as their ability to provide energy savings, offers design flexibility, and cost-effective installation making it an ideal system for both residential and commercial users.


The rise in the urbanization and advancement in technology is fueling the growth of the VRF systems market. Similarly, the rising construction activities and development of energy-efficient technologies and products are also driving the growth of the market. Furthermore, the acceptance of wireless control systems by the individuals and the companies for monitoring indoor units across the homes, offices, and the referral area is also driving the growth of the market.


Segmentation


Global VRF Systems Market has been segmented based on Component, Compressor Unit, System Type, Capacity, Application and Region.


By Component, the market has been segmented as outdoor units, indoor units, and control systems and accessories


By Compressor Units, the market has been segmented into air-cooled units and water-cooled units.


By System Type, the market has been segmented into heat pump system and heat recovery system.


By Capacity, the market has been segmented into upto 10 tons, 11 to 18 tons, 19 to 26 tons, and above 26 tons


By Application, the market has been segmented into residential, healthcare, automobile, hotels, educational institutes, retail store, and others


By Region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Global VRF Systems Market, 2018–2026 (USD Million)
VRF Systems Market


Source: MRFR Website


Regional Analysis


Global VRF Systems Market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of VRF Systems has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).


Based on region the Asia-Pacific holds the largest share for the VRF systems market in 2019 and is expected to grow with significant growth during the forecast period. There are various factors which are driving the growth of the VRF Systems market in the Asia-Pacific region due to increasing demand for VRF systems from residential and commercial end-users. Furthermore, the increasing industrialization, urbanization, and increasing demand for high-tech devices such as wireless and connected devices are some of the factors driving the growth of the market. Furthermore, the presence of various manufacturers such as Daikin Industries Ltd., Fujitsu Limited, Mitsubishi Electric Corporation, and others are driving the growth of the market. However, the North American region is expected to grow with a significant CAGR during the forecast period due to the increasing adoption of VRF technology by the commercial industries for energy saving and flexible designs. Similarly, the increasing integration of connected technology is also fueling the growth of the market.


Key Players


MRFR recognizes the Key Players in the Global VRF Systems Market as Emerson Electric Co. (US), United Technologies Corporation (US), Daikin Industries Ltd. (Japan), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), Toshiba Corporation (Japan), LG Electronics Inc. (South Korea), Fujitsu Limited (Japan), Mitsubishi Electric Corporation (Japan), Midea Group Co. Ltd. (China), Samsung Electronics (South Korea), and Panasonic Corporation (Japan) among others.


The Prominent Players keep innovating and investing in research and development to present a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.


Intended Audience



  • Healthcare

  • Investors and consultants

  • Telecom Industry

  • Government Organizations

  • Educational Institutes

  • Research/Consultancy firms

  • Corporates

  • Manufacturers

  • Automotive



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 29,478.1 Million
  CAGR   11.0% (2020-2026)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Compressor Units, System Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Emerson Electric Co. (US), United Technologies Corporation (US), Daikin Industries Ltd. (Japan), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), Toshiba Corporation (Japan), LG Electronics Inc. (South Korea), Fujitsu Limited (Japan), Mitsubishi Electric Corporation (Japan), Midea Group Co. Ltd. (China), Samsung Electronics (South Korea), and Panasonic Corporation (Japan)
  Key Market Opportunities   Development of energy-efficient technologies and products
  Key Market Drivers

  • Urbanization
  • Advancement in technology
  • Rising construction activities


  • Frequently Asked Questions (FAQ) :


    The VRF systems market valuation could grow up to USD 29,478.1 million by 2026.

    The VRF systems market CAGR would be 11% for the duration of 2020 to 2026.

    The VRF systems market report includes mentions of players like Daikin Industries Ltd. (Japan), Emerson Electric Co. (US), United Technologies Corporation (US), Schneider Electric SE (France), Johnson Controls International PLC (Ireland), Fujitsu Limited (Japan), Toshiba Corporation (Japan), LG Electronics Inc. (South Korea), Samsung Electronics (South Korea), Mitsubishi Electric Corporation (Japan), Midea Group Co. Ltd. (China), and Panasonic Corporation (Japan)

    Asia Pacific would command the global VRF systems market.

    The North American VRF systems market would gain from acceptance in commercial industries and flexible design.