VRF System Market

1. VRF System Market Revenue Trends and Growth Drivers – 2025 The VRF system market size is projected to reach USD 31.9 billion by 2025, growing at a CAGR of 12.7%. High energy-saving potential and easy and minimum maintenance requirements of VRF systems are the key growth drivers for the market. Heat pump system to lead the VRF system market during the forecast period. VRF systems are used in most commercial buildings, ranging from small shops and cafes to large office buildings and public spaces. VRF zoning ensures the usage of energy to only cool or heat offices that are occupied. VRF systems ensure the most comfortable and productive work environment since these systems comprise quiet indoor units and can maintain precise temperature control. The VRF heat pump system market for the residential application will be driven by factors such as increasing disposable income, growing awareness regarding energy efficiency, and rising energy costs. These factors have given rise to the need for energy-efficient devices that can help reduce energy consumption and costs. VRF systems provide a solution for all these issues by using various control systems, thermostats, and sensors. VRF systems for residential applications expected to witness the fastest growth rate during the forecast period. VRF systems provide individual controls for each housing unit; hence, these systems are highly energy-efficient and have a low cost of operation. Therefore, an increasing number of property owners and managers are installing VRF air-conditioning systems. With long product life under harsh conditions, high air-conditioning performance, and excellent service, VRF systems are becoming the preferred choice for apartments and collective housing. North America to be the fastest-growing region in the VRF system market during the forecast period. The market in North America is further segmented into the US, Canada, and Mexico. In North America, VRF systems have gained tremendous popularity owing to the increasing awareness about energy efficiency and easy installation process with minimum piping work. Recently, many companies based in North America have launched VRF systems integrated with low global warming potential refrigerants. The introduction of advanced environment-friendly refrigerants, such as HFC-32, has boosted the adoption of VRF systems in North America. Daikin is one of the leading players in the air-conditioning and fluorochemicals businesses. It is engaged in manufacturing general air-conditioning equipment with in-house divisions, covering both air conditioning and refrigerants. The company has more than 100 production units globally and operates in more than 150 countries. The Air Conditioning segment of Daikin provides VRV/VRF systems, residential air conditioners, residential air purifiers, commercial use air conditioners, commercial use air purifiers, large chillers, marine container refrigeration units, and marine vessel air conditioners. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155809495 Toshiba manufactures and sells electronic and electrical products. The air-conditioning and VRF system business of Toshiba is operated by Toshiba Carrier Corporation, the global joint venture between Carrier Corporation (US) and Toshiba Corporation (Japan). The company develops VRF systems for residential and commercial applications. The company manufactures various types of indoor and outdoor units. The company has a manufacturing unit and an R&D center in both Japan and Thailand. The company also has R&D facilities in the US, Europe, China, and Vietnam.

2. Other companies involved in the VRF system market are LG Electronics (South Korea), Fujitsu (Japan), United Technologies (US), Ingersoll Rand (Ireland), Lennox (US), Panasonic (Japan), and Samsung Electronics (South Korea). About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI- powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.