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Variable Refrigerant Flow Systems Market Size, Share & Industry Analysis, By System Type (Heat Pump Systems, Heat Recovery Systems), By Application (Commercial, Residential, Others) Others and Regional Forecast, 2019-2026

Region : Global | Report ID: FBI102018 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

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 Covered:


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.


Regional Analysis:


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.


Segmentation






















 ATTRIBUTE


 DETAILS

By System Type




  • Heat Pump Systems

  • Heat Recovery Systems



By Application




  • Commercial

  • Residential

  • Others



By Geography




  • North America (the USA and Canada and Rest of North America)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



Key Industry Developments



  • November 2018: - Daikin Industries Ltd. announces to acquire AHT Cooling Systems GmbH for around US$ 1,003 Mn.

  • April 2018: - Johnson Controls International PLC established an R&D centre, which includes facilities like testing labs and a training centre for VRF systems, chillers, and other products and technologies.


Variable Refrigerant Flow (VRF) Systems Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2019
  • 2016-2018

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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