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VRF System-Global Market Insights and Sales Trends 2025
Synopsis
Variable refrigerant flow (VRF), also known as variable refrigerant volume (VRV), is an HVAC technology invented by Daikin Industries, Ltd. in 1982.[1] Like ductless minisplits, VRFs use refrigerant as the cooling and heating medium. This refrigerant is conditioned by a single outdoor condensing unit, and is circulated within the building to multiple indoor units.
The global VRF System market size is expected to reach US$ 42540 million by 2029, growing at a CAGR of 11.1% from 2023 to 2029. The market is mainly driven by the significant applications of VRF System in various end use industries. The expanding demands from the Commercial, Residential and Others (Metro Stations, Railway Stations, and Airports),, are propelling VRF System market. Outdoor Units, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Indoor Units segment is estimated at % CAGR for the next seven-year period.
Growth is attributed to technological advancements in VRF systems and the increasing adoption of VRF technology for residential and commercial applications in North America.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for VRF System, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global VRF System market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global VRF System market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, VRF System sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of VRF System covered in this report include Johnson, LG Electronics, Toshiba, Fujitsu group, Mitsubishi Electric, Midea Group, Ingersoll Rand, Lennox International and Panasonic, etc.
The global VRF System market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Johnson
LG Electronics
Toshiba
Fujitsu group
Mitsubishi Electric
Midea Group
Ingersoll Rand
Lennox International
Panasonic
Samsung Electronics
Gree
Carrier
Global VRF System market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global VRF System market, Segment by Type:
Outdoor Units
Indoor Units
Control Systems and Accessories
Global VRF System market, by Application
Commercial
Residential
Others (Metro Stations, Railway Stations, and Airports)
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of VRF System manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of VRF System in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: 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 Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Variable refrigerant flow (VRF), also known as variable refrigerant volume (VRV), is an HVAC technology invented by Daikin Industries, Ltd. in 1982.[1] Like ductless minisplits, VRFs use refrigerant as the cooling and heating medium. This refrigerant is conditioned by a single outdoor condensing unit, and is circulated within the building to multiple indoor units.
The global VRF System market size is expected to reach US$ 42540 million by 2029, growing at a CAGR of 11.1% from 2023 to 2029. The market is mainly driven by the significant applications of VRF System in various end use industries. The expanding demands from the Commercial, Residential and Others (Metro Stations, Railway Stations, and Airports),, are propelling VRF System market. Outdoor Units, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Indoor Units segment is estimated at % CAGR for the next seven-year period.
Growth is attributed to technological advancements in VRF systems and the increasing adoption of VRF technology for residential and commercial applications in North America.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for VRF System, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global VRF System market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global VRF System market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, VRF System sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of VRF System covered in this report include Johnson, LG Electronics, Toshiba, Fujitsu group, Mitsubishi Electric, Midea Group, Ingersoll Rand, Lennox International and Panasonic, etc.
The global VRF System market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Johnson
LG Electronics
Toshiba
Fujitsu group
Mitsubishi Electric
Midea Group
Ingersoll Rand
Lennox International
Panasonic
Samsung Electronics
Gree
Carrier
Global VRF System market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global VRF System market, Segment by Type:
Outdoor Units
Indoor Units
Control Systems and Accessories
Global VRF System market, by Application
Commercial
Residential
Others (Metro Stations, Railway Stations, and Airports)
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of VRF System manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of VRF System in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: 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 Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 VRF System Market Overview
1.1 VRF System Product Overview
1.2 VRF System Market Segment by Type
1.2.1 Outdoor Units
1.2.2 Indoor Units
1.2.3 Control Systems and Accessories
1.3 Global VRF System Market Size by Type
1.3.1 Global VRF System Market Size Overview by Type (2018-2029)
1.3.2 Global VRF System Historic Market Size Review by Type (2018-2023)
1.3.3 Global VRF System Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America VRF System Sales Breakdown by Type (2018-2023)
1.4.2 Europe VRF System Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific VRF System Sales Breakdown by Type (2018-2023)
1.4.4 Latin America VRF System Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa VRF System Sales Breakdown by Type (2018-2023)
2 Global VRF System Market Competition by Company
2.1 Global Top Players by VRF System Sales (2018-2023)
2.2 Global Top Players by VRF System Revenue (2018-2023)
2.3 Global Top Players by VRF System Price (2018-2023)
2.4 Global Top Manufacturers VRF System Manufacturing Base Distribution, Sales Area, Product Type
2.5 VRF System Market Competitive Situation and Trends
2.5.1 VRF System Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by VRF System Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in VRF System as of 2022)
2.7 Date of Key Manufacturers Enter into VRF System Market
2.8 Key Manufacturers VRF System Product Offered
2.9 Mergers & Acquisitions, Expansion
3 VRF System Status and Outlook by Region
3.1 Global VRF System Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global VRF System Historic Market Size by Region
3.2.1 Global VRF System Sales in Volume by Region (2018-2023)
3.2.2 Global VRF System Sales in Value by Region (2018-2023)
3.2.3 Global VRF System Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global VRF System Forecasted Market Size by Region
3.3.1 Global VRF System Sales in Volume by Region (2024-2029)
3.3.2 Global VRF System Sales in Value by Region (2024-2029)
3.3.3 Global VRF System Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global VRF System by Application
4.1 VRF System Market Segment by Application
4.1.1 Commercial
4.1.2 Residential
4.1.3 Others (Metro Stations, Railway Stations, and Airports)
4.2 Global VRF System Market Size by Application
4.2.1 Global VRF System Market Size Overview by Application (2018-2029)
4.2.2 Global VRF System Historic Market Size Review by Application (2018-2023)
4.2.3 Global VRF System Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America VRF System Sales Breakdown by Application (2018-2023)
4.3.2 Europe VRF System Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific VRF System Sales Breakdown by Application (2018-2023)
4.3.4 Latin America VRF System Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa VRF System Sales Breakdown by Application (2018-2023)
5 North America VRF System by Country
5.1 North America VRF System Historic Market Size by Country
5.1.1 North America VRF System Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America VRF System Sales in Volume by Country (2018-2023)
5.1.3 North America VRF System Sales in Value by Country (2018-2023)
5.2 North America VRF System Forecasted Market Size by Country
5.2.1 North America VRF System Sales in Volume by Country (2024-2029)
5.2.2 North America VRF System Sales in Value by Country (2024-2029)
6 Europe VRF System by Country
6.1 Europe VRF System Historic Market Size by Country
6.1.1 Europe VRF System Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe VRF System Sales in Volume by Country (2018-2023)
6.1.3 Europe VRF System Sales in Value by Country (2018-2023)
6.2 Europe VRF System Forecasted Market Size by Country
6.2.1 Europe VRF System Sales in Volume by Country (2024-2029)
6.2.2 Europe VRF System Sales in Value by Country (2024-2029)
7 Asia-Pacific VRF System by Region
7.1 Asia-Pacific VRF System Historic Market Size by Region
7.1.1 Asia-Pacific VRF System Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific VRF System Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific VRF System Sales in Value by Region (2018-2023)
7.2 Asia-Pacific VRF System Forecasted Market Size by Region
7.2.1 Asia-Pacific VRF System Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific VRF System Sales in Value by Region (2024-2029)
8 Latin America VRF System by Country
8.1 Latin America VRF System Historic Market Size by Country
8.1.1 Latin America VRF System Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America VRF System Sales in Volume by Country (2018-2023)
8.1.3 Latin America VRF System Sales in Value by Country (2018-2023)
8.2 Latin America VRF System Forecasted Market Size by Country
8.2.1 Latin America VRF System Sales in Volume by Country (2024-2029)
8.2.2 Latin America VRF System Sales in Value by Country (2024-2029)
9 Middle East and Africa VRF System by Country
9.1 Middle East and Africa VRF System Historic Market Size by Country
9.1.1 Middle East and Africa VRF System Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa VRF System Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa VRF System Sales in Value by Country (2018-2023)
9.2 Middle East and Africa VRF System Forecasted Market Size by Country
9.2.1 Middle East and Africa VRF System Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa VRF System Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Johnson
10.1.1 Johnson Company Information
10.1.2 Johnson Introduction and Business Overview
10.1.3 Johnson VRF System Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Johnson VRF System Products Offered
10.1.5 Johnson Recent Development
10.2 LG Electronics
10.2.1 LG Electronics Company Information
10.2.2 LG Electronics Introduction and Business Overview
10.2.3 LG Electronics VRF System Sales, Revenue and Gross Margin (2018-2023)
10.2.4 LG Electronics VRF System Products Offered
10.2.5 LG Electronics Recent Development
10.3 Toshiba
10.3.1 Toshiba Company Information
10.3.2 Toshiba Introduction and Business Overview
10.3.3 Toshiba VRF System Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Toshiba VRF System Products Offered
10.3.5 Toshiba Recent Development
10.4 Fujitsu group
10.4.1 Fujitsu group Company Information
10.4.2 Fujitsu group Introduction and Business Overview
10.4.3 Fujitsu group VRF System Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Fujitsu group VRF System Products Offered
10.4.5 Fujitsu group Recent Development
10.5 Mitsubishi Electric
10.5.1 Mitsubishi Electric Company Information
10.5.2 Mitsubishi Electric Introduction and Business Overview
10.5.3 Mitsubishi Electric VRF System Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Mitsubishi Electric VRF System Products Offered
10.5.5 Mitsubishi Electric Recent Development
10.6 Midea Group
10.6.1 Midea Group Company Information
10.6.2 Midea Group Introduction and Business Overview
10.6.3 Midea Group VRF System Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Midea Group VRF System Products Offered
10.6.5 Midea Group Recent Development
10.7 Ingersoll Rand
10.7.1 Ingersoll Rand Company Information
10.7.2 Ingersoll Rand Introduction and Business Overview
10.7.3 Ingersoll Rand VRF System Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Ingersoll Rand VRF System Products Offered
10.7.5 Ingersoll Rand Recent Development
10.8 Lennox International
10.8.1 Lennox International Company Information
10.8.2 Lennox International Introduction and Business Overview
10.8.3 Lennox International VRF System Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Lennox International VRF System Products Offered
10.8.5 Lennox International Recent Development
10.9 Panasonic
10.9.1 Panasonic Company Information
10.9.2 Panasonic Introduction and Business Overview
10.9.3 Panasonic VRF System Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Panasonic VRF System Products Offered
10.9.5 Panasonic Recent Development
10.10 Samsung Electronics
10.10.1 Samsung Electronics Company Information
10.10.2 Samsung Electronics Introduction and Business Overview
10.10.3 Samsung Electronics VRF System Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Samsung Electronics VRF System Products Offered
10.10.5 Samsung Electronics Recent Development
10.11 Gree
10.11.1 Gree Company Information
10.11.2 Gree Introduction and Business Overview
10.11.3 Gree VRF System Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Gree VRF System Products Offered
10.11.5 Gree Recent Development
10.12 Carrier
10.12.1 Carrier Company Information
10.12.2 Carrier Introduction and Business Overview
10.12.3 Carrier VRF System Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Carrier VRF System Products Offered
10.12.5 Carrier Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 VRF System Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 VRF System Industrial Chain Analysis
11.4 VRF System Market Dynamics
11.4.1 VRF System Industry Trends
11.4.2 VRF System Market Drivers
11.4.3 VRF System Market Challenges
11.4.4 VRF System Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 VRF System Distributors
12.3 VRF System Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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