Market Overview:
The global VRF system market is expected to grow from USD 9.5 billion in 2018 to USD 17.8 billion by 2030, at a CAGR of 7.5% from 2018 to 2030. The growth of the global VRF system market can be attributed to the increasing demand for energy-efficient cooling and heating systems, growing awareness about environment-friendly cooling and heating systems, and rising demand for smart buildings. The global VRF system market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into outdoor units, indoor units control systems , and accessories . On the basis of application ,the market is segmented into commercial residential , others (metro stations railway stations airports) .On the basis of region ,the market is segmented into North America Latin America Europe Asia Pacific Middle East & Africa .
Product Definition:
A VRF (Virtual Routing and Forwarding) system is a network feature that allows multiple instances of a routing table to exist on a single router. Each VRF instance is isolated from the others, so routes learned or injected in one VRF are not visible in any other. This can be useful for grouping hosts or networks together, while still allowing them to communicate with the rest of the internet.
Outdoor Units:
Outdoor units are the equipment or devices used to provide power in outdoor locations. It can be either a stand-alone system or an add on to an indoor unit based VRF system. The growth factor for outdoor units is its ability to supply power in areas which are not easily accessible using normal distribution systems such as parks, forests, and fields.
Indoor Units:
Indoor Units (IUs) are the components that help in providing heating, ventilation and air conditioning (HVAC) services to a building. They are responsible for maintaining temperature levels within a defined range by controlling the flow of indoor air. The HVAC system is used to control and maintain humidity levels as well as provide thermal comfort.
The global VRF system market size was valued at USD 9,15,000 thousand in 2016.
Application Insights:
The commercial application segment accounted for the largest share of over 70.0% in 2017. The growth can be attributed to the increasing adoption of VRF systems at shopping malls, office buildings, hotels and resorts, hospitals and medical centers, airports (both domestic and international), railway stations/metros stations/airports terminals among other commercial facilities such as stadiums or arenas.
The residential application segment is expected to witness significant growth over the forecast period owing to rising demand for energy-efficient products that are designed specifically for VRF systems. These products offer features such as programmable thermostats with remote control functionality along with energy-saving lighting solutions that enable consumers to save money while improving their homes' environment by reducing electricity bills.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to increasing adoption of smart buildings and growing demand for energy-efficient systems. Europe accounted for a significant share of revenue in 2017 owing to high penetration of VRF systems in countries, such as Germany and Switzerland. Asia Pacific regional market is estimated to grow at a lucrative CAGR during the forecast period due to rising construction activities across various sectors, including commercial and residential buildings. Furthermore, increasing number of metro stations across major cities will drive growth further.
Growth Factors:
- Increasing demand for energy-efficient cooling systems
- Growing popularity of data centers and server rooms
- Proliferation of Internet of Things (IoT) and big data analytics
- Rising concerns over environmental sustainability
- Technological advancements in VRF system design and manufacturing
Scope Of The Report
Report Attributes
Report Details
Report Title
VRF System Market Research Report
By Type
Outdoor Units, Indoor Units, Control Systems and Accessories
By Application
Commercial, Residential, Others (Metro Stations, Railway Stations, and Airports)
By Companies
Johnson, LG Electronics, Toshiba, Fujitsu group, Mitsubishi Electric, Midea Group, Ingersoll Rand, Lennox International, Panasonic, Samsung Electronics, Gree, Carrier
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global VRF System Market Report Segments:
The global VRF System market is segmented on the basis of:
Types
Outdoor Units, Indoor Units, Control Systems and Accessories
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Residential, Others (Metro Stations, Railway Stations, and Airports)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Johnson
- LG Electronics
- Toshiba
- Fujitsu group
- Mitsubishi Electric
- Midea Group
- Ingersoll Rand
- Lennox International
- Panasonic
- Samsung Electronics
- Gree
- Carrier
Highlights of The VRF System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Outdoor Units
- Indoor Units
- Control Systems and Accessories
- By Application:
- Commercial
- Residential
- Others (Metro Stations, Railway Stations, and Airports)
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the VRF System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A VRF system is a type of network that allows multiple networks to share the same infrastructure. This can be useful when there are limited resources available, or when it is necessary to separate different types of traffic.
Some of the major companies in the vrf system market are Johnson, LG Electronics, Toshiba, Fujitsu group, Mitsubishi Electric, Midea Group, Ingersoll Rand, Lennox International, Panasonic, Samsung Electronics, Gree, Carrier.
The vrf system market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. VRF System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. VRF System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. VRF System Market - Supply Chain
4.5. Global VRF System Market Forecast
4.5.1. VRF System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. VRF System Market Size (000 Units) and Y-o-Y Growth
4.5.3. VRF System Market Absolute $ Opportunity
5. Global VRF System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. VRF System Market Size and Volume Forecast by Type
5.3.1. Outdoor Units
5.3.2. Indoor Units
5.3.3. Control Systems and Accessories
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global VRF System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. VRF System Market Size and Volume Forecast by Application
6.3.1. Commercial
6.3.2. Residential
6.3.3. Others (Metro Stations, Railway Stations, and Airports)
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global VRF System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. VRF System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global VRF System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. VRF System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global VRF System Demand Share Forecast, 2019-2026
9. North America VRF System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America VRF System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America VRF System Market Size and Volume Forecast by Application
9.4.1. Commercial
9.4.2. Residential
9.4.3. Others (Metro Stations, Railway Stations, and Airports)
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America VRF System Market Size and Volume Forecast by Type
9.7.1. Outdoor Units
9.7.2. Indoor Units
9.7.3. Control Systems and Accessories
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America VRF System Demand Share Forecast, 2019-2026
10. Latin America VRF System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America VRF System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America VRF System Market Size and Volume Forecast by Application
10.4.1. Commercial
10.4.2. Residential
10.4.3. Others (Metro Stations, Railway Stations, and Airports)
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America VRF System Market Size and Volume Forecast by Type
10.7.1. Outdoor Units
10.7.2. Indoor Units
10.7.3. Control Systems and Accessories
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America VRF System Demand Share Forecast, 2019-2026
11. Europe VRF System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe VRF System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe VRF System Market Size and Volume Forecast by Application
11.4.1. Commercial
11.4.2. Residential
11.4.3. Others (Metro Stations, Railway Stations, and Airports)
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe VRF System Market Size and Volume Forecast by Type
11.7.1. Outdoor Units
11.7.2. Indoor Units
11.7.3. Control Systems and Accessories
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe VRF System Demand Share, 2019-2026
12. Asia Pacific VRF System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific VRF System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific VRF System Market Size and Volume Forecast by Application
12.4.1. Commercial
12.4.2. Residential
12.4.3. Others (Metro Stations, Railway Stations, and Airports)
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific VRF System Market Size and Volume Forecast by Type
12.7.1. Outdoor Units
12.7.2. Indoor Units
12.7.3. Control Systems and Accessories
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific VRF System Demand Share, 2019-2026
13. Middle East & Africa VRF System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa VRF System Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa VRF System Market Size and Volume Forecast by Application
13.4.1. Commercial
13.4.2. Residential
13.4.3. Others (Metro Stations, Railway Stations, and Airports)
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa VRF System Market Size and Volume Forecast by Type
13.7.1. Outdoor Units
13.7.2. Indoor Units
13.7.3. Control Systems and Accessories
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa VRF System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global VRF System Market: Market Share Analysis
14.2. VRF System Distributors and Customers
14.3. VRF System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Johnson
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. LG Electronics
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Toshiba
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Fujitsu group
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mitsubishi Electric
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Midea Group
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Ingersoll Rand
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Lennox International
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Panasonic
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Samsung Electronics
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Gree
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Carrier
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
