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Synopsis
VRV system is also known as Variable Refrigerant Volume system and is extensively used in commercial applications including malls, restaurants, offices, and others owing to their compatibility with the environment and less power usage. VRV is a multi-split type of system in which 60 or more AC units can be connected to a single outside unit, and refrigerant is controlled by the remote operation and manually. In central AC systems, where the need for cooling or heating at particular spots in the office is much harder, the VRV system offers total air conditioning control to the user.
The global VRV System market was valued at US$ 12250 million in 2023 and is anticipated to reach US$ 23000 million by 2030, witnessing a CAGR of 11.0% during the forecast period 2024-2030.
Rising adoption of air conditioning units globally owing to changing lifestyle preferences of consumers and increasing commercialization in emerging economies is the factor driving the demand for VRVs. Furthermore, the reduction in workspace for SMEs is a key factor for the product growth of the market.
This report aims to provide a comprehensive presentation of the global market for VRV System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding VRV System.
Report Scope
The VRV System market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global VRV System market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the VRV System companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Airdale
Blue Star
Carrier
Daikin
Emerson
Fujitsu Group
GE
Hitachi
Ingersoll Rand
Johnson Controls
Lennox International
LG
Midea Group
Mitsubishi Electric
Panasonic
Rheem
Samsung Electronics
United Technologies
Segment by Type
Heat Pump
Outdoor Unit
Segment by Application
Residential
Commercial
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of VRV System companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
VRV system is also known as Variable Refrigerant Volume system and is extensively used in commercial applications including malls, restaurants, offices, and others owing to their compatibility with the environment and less power usage. VRV is a multi-split type of system in which 60 or more AC units can be connected to a single outside unit, and refrigerant is controlled by the remote operation and manually. In central AC systems, where the need for cooling or heating at particular spots in the office is much harder, the VRV system offers total air conditioning control to the user.
The global VRV System market was valued at US$ 12250 million in 2023 and is anticipated to reach US$ 23000 million by 2030, witnessing a CAGR of 11.0% during the forecast period 2024-2030.
Rising adoption of air conditioning units globally owing to changing lifestyle preferences of consumers and increasing commercialization in emerging economies is the factor driving the demand for VRVs. Furthermore, the reduction in workspace for SMEs is a key factor for the product growth of the market.
This report aims to provide a comprehensive presentation of the global market for VRV System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding VRV System.
Report Scope
The VRV System market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global VRV System market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the VRV System companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Airdale
Blue Star
Carrier
Daikin
Emerson
Fujitsu Group
GE
Hitachi
Ingersoll Rand
Johnson Controls
Lennox International
LG
Midea Group
Mitsubishi Electric
Panasonic
Rheem
Samsung Electronics
United Technologies
Segment by Type
Heat Pump
Outdoor Unit
Segment by Application
Residential
Commercial
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of VRV System companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global VRV System Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Heat Pump
1.2.3 Outdoor Unit
1.3 Market by Application
1.3.1 Global VRV System Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Residential
1.3.3 Commercial
1.3.4 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global VRV System Market Perspective (2019-2030)
2.2 VRV System Growth Trends by Region
2.2.1 Global VRV System Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 VRV System Historic Market Size by Region (2019-2024)
2.2.3 VRV System Forecasted Market Size by Region (2025-2030)
2.3 VRV System Market Dynamics
2.3.1 VRV System Industry Trends
2.3.2 VRV System Market Drivers
2.3.3 VRV System Market Challenges
2.3.4 VRV System Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top VRV System Players by Revenue
3.1.1 Global Top VRV System Players by Revenue (2019-2024)
3.1.2 Global VRV System Revenue Market Share by Players (2019-2024)
3.2 Global VRV System Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by VRV System Revenue
3.4 Global VRV System Market Concentration Ratio
3.4.1 Global VRV System Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by VRV System Revenue in 2023
3.5 VRV System Key Players Head office and Area Served
3.6 Key Players VRV System Product Solution and Service
3.7 Date of Enter into VRV System Market
3.8 Mergers & Acquisitions, Expansion Plans
4 VRV System Breakdown Data by Type
4.1 Global VRV System Historic Market Size by Type (2019-2024)
4.2 Global VRV System Forecasted Market Size by Type (2025-2030)
5 VRV System Breakdown Data by Application
5.1 Global VRV System Historic Market Size by Application (2019-2024)
5.2 Global VRV System Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America VRV System Market Size (2019-2030)
6.2 North America VRV System Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America VRV System Market Size by Country (2019-2024)
6.4 North America VRV System Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe VRV System Market Size (2019-2030)
7.2 Europe VRV System Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe VRV System Market Size by Country (2019-2024)
7.4 Europe VRV System Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific VRV System Market Size (2019-2030)
8.2 Asia-Pacific VRV System Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific VRV System Market Size by Region (2019-2024)
8.4 Asia-Pacific VRV System Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America VRV System Market Size (2019-2030)
9.2 Latin America VRV System Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America VRV System Market Size by Country (2019-2024)
9.4 Latin America VRV System Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa VRV System Market Size (2019-2030)
10.2 Middle East & Africa VRV System Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa VRV System Market Size by Country (2019-2024)
10.4 Middle East & Africa VRV System Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Airdale
11.1.1 Airdale Company Detail
11.1.2 Airdale Business Overview
11.1.3 Airdale VRV System Introduction
11.1.4 Airdale Revenue in VRV System Business (2019-2024)
11.1.5 Airdale Recent Development
11.2 Blue Star
11.2.1 Blue Star Company Detail
11.2.2 Blue Star Business Overview
11.2.3 Blue Star VRV System Introduction
11.2.4 Blue Star Revenue in VRV System Business (2019-2024)
11.2.5 Blue Star Recent Development
11.3 Carrier
11.3.1 Carrier Company Detail
11.3.2 Carrier Business Overview
11.3.3 Carrier VRV System Introduction
11.3.4 Carrier Revenue in VRV System Business (2019-2024)
11.3.5 Carrier Recent Development
11.4 Daikin
11.4.1 Daikin Company Detail
11.4.2 Daikin Business Overview
11.4.3 Daikin VRV System Introduction
11.4.4 Daikin Revenue in VRV System Business (2019-2024)
11.4.5 Daikin Recent Development
11.5 Emerson
11.5.1 Emerson Company Detail
11.5.2 Emerson Business Overview
11.5.3 Emerson VRV System Introduction
11.5.4 Emerson Revenue in VRV System Business (2019-2024)
11.5.5 Emerson Recent Development
11.6 Fujitsu Group
11.6.1 Fujitsu Group Company Detail
11.6.2 Fujitsu Group Business Overview
11.6.3 Fujitsu Group VRV System Introduction
11.6.4 Fujitsu Group Revenue in VRV System Business (2019-2024)
11.6.5 Fujitsu Group Recent Development
11.7 GE
11.7.1 GE Company Detail
11.7.2 GE Business Overview
11.7.3 GE VRV System Introduction
11.7.4 GE Revenue in VRV System Business (2019-2024)
11.7.5 GE Recent Development
11.8 Hitachi
11.8.1 Hitachi Company Detail
11.8.2 Hitachi Business Overview
11.8.3 Hitachi VRV System Introduction
11.8.4 Hitachi Revenue in VRV System Business (2019-2024)
11.8.5 Hitachi Recent Development
11.9 Ingersoll Rand
11.9.1 Ingersoll Rand Company Detail
11.9.2 Ingersoll Rand Business Overview
11.9.3 Ingersoll Rand VRV System Introduction
11.9.4 Ingersoll Rand Revenue in VRV System Business (2019-2024)
11.9.5 Ingersoll Rand Recent Development
11.10 Johnson Controls
11.10.1 Johnson Controls Company Detail
11.10.2 Johnson Controls Business Overview
11.10.3 Johnson Controls VRV System Introduction
11.10.4 Johnson Controls Revenue in VRV System Business (2019-2024)
11.10.5 Johnson Controls Recent Development
11.11 Lennox International
11.11.1 Lennox International Company Detail
11.11.2 Lennox International Business Overview
11.11.3 Lennox International VRV System Introduction
11.11.4 Lennox International Revenue in VRV System Business (2019-2024)
11.11.5 Lennox International Recent Development
11.12 LG
11.12.1 LG Company Detail
11.12.2 LG Business Overview
11.12.3 LG VRV System Introduction
11.12.4 LG Revenue in VRV System Business (2019-2024)
11.12.5 LG Recent Development
11.13 Midea Group
11.13.1 Midea Group Company Detail
11.13.2 Midea Group Business Overview
11.13.3 Midea Group VRV System Introduction
11.13.4 Midea Group Revenue in VRV System Business (2019-2024)
11.13.5 Midea Group Recent Development
11.14 Mitsubishi Electric
11.14.1 Mitsubishi Electric Company Detail
11.14.2 Mitsubishi Electric Business Overview
11.14.3 Mitsubishi Electric VRV System Introduction
11.14.4 Mitsubishi Electric Revenue in VRV System Business (2019-2024)
11.14.5 Mitsubishi Electric Recent Development
11.15 Panasonic
11.15.1 Panasonic Company Detail
11.15.2 Panasonic Business Overview
11.15.3 Panasonic VRV System Introduction
11.15.4 Panasonic Revenue in VRV System Business (2019-2024)
11.15.5 Panasonic Recent Development
11.16 Rheem
11.16.1 Rheem Company Detail
11.16.2 Rheem Business Overview
11.16.3 Rheem VRV System Introduction
11.16.4 Rheem Revenue in VRV System Business (2019-2024)
11.16.5 Rheem Recent Development
11.17 Samsung Electronics
11.17.1 Samsung Electronics Company Detail
11.17.2 Samsung Electronics Business Overview
11.17.3 Samsung Electronics VRV System Introduction
11.17.4 Samsung Electronics Revenue in VRV System Business (2019-2024)
11.17.5 Samsung Electronics Recent Development
11.18 United Technologies
11.18.1 United Technologies Company Detail
11.18.2 United Technologies Business Overview
11.18.3 United Technologies VRV System Introduction
11.18.4 United Technologies Revenue in VRV System Business (2019-2024)
11.18.5 United Technologies Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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