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Variable refrigerant flow(VRF) systems are electric systems that uses air or water source heat pumps in order to provide heating and/or cooling to a spaces in the building. The demand for global variable flow systems market is anticipated to accelerate in the forecast period, owing to the rising demand for energy efficient HVAC systems in construction industry, rising demand for smart devices to control VRF HVAC systems. Furthermore, these players are investing in the research and development activities and launching new advanced solutions to strengthen their market reach and maintain their position in the competitive market. For instance, Blue Star launches the next generation 100% Inverter VRF AC system which is well suited for the varying climatic conditions as well as voltage fluctuations. Similarly, In May 2018, Mitsubishi Electric Corporation launched the R32 or difluoromethane (refrigerant type) version of VRF system in the U.K to fulfill customer demand for energy efficient and low global warming potential VRF system. The application of VRF systems is mainly into high-rise buildings by providing a single condenser unit that multiple users can deploy, resulting in energy savings, cost reduction and long term benefits with respect to the usage.
Key Market Driver -
• Surge demand for energy efficient HVAC systems mainly from construction industry.
Key Market Restraint -
• Complexity in installation results in reducing life expectancy of the vrf system.
Key players operating in the variable refrigerant flow systems market are United Technologies Corp., Mitsubishi Electric Corporation., Blue Star Limited., DAIKIN INDUSTRIES, Ltd., , SAMSUNG, Haier Inc., Panasonic Australia Pty Ltd, LG Electronics., Midea Group, Fujitsu General and among others.
North America is experiencing dominance in global variable refrigerant flow market owing to the parameters such as adoption of green technologies and installation of interest in energy efficiency VRF systems in hospitals and schools. In addition, increasing construction projects in transportation sector pertaining to metro railway expansion projects and construction of new airports contributing to the market. Furthermore, increase in disposable income and rising trend of smart building accelerating the growth of the variable refrigerant flow systems.
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Asia Pacific is anticipated to witness a substantial increase in the forecast period, owing to the stable industrial base, stringent government norms, rising construction activities mainly in China and India region. Furthermore, awareness created by industrial experts and regulatory bodies for star-labelled VRF systems and government initiatives for using advanced energy efficient units in buildings.
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