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VRF Systems Market to expand at a CAGR of 12.90% by 2030

Oct 13, 2023 11:00 PM ET

VRF Systems Market to expand at a CAGR of 12.90% by 2030

VRF Systems Market Insights

In 2022, the VRF Systems Market size was estimated at USD 17.70 billion. According to projections, the market for VRF Systems will increase from USD 22.26 billion in 2023 to USD 58.74 billion in 2030, with a compound annual growth rate (CAGR) of 12.90% over the forecast period (2023 – 2030). In accordance with the demands of the system, variable refrigerant flow (VRF) systems alter the refrigerant flow to indoor units. These systems have the ability to control and manage a fan coil unit’s facility-wide refrigerant flow. The most widely utilised types of these systems are heat pumps and heat recovery systems, which can be applied in a variety of situations where simultaneous heating and cooling is required.

VRF systems are becoming more popular due to a variety of features, including their ability to save energy, offer design flexibility, and be inexpensively installed, making them a great option for both residential and commercial customers.

These systems are energy-efficient because they employ a sophisticated variable-speed compressor that runs at a low temperature. These systems experience fewer minor failures and wear-and-tear, which cuts down on downtime. They contribute to energy savings of more than 40% when compared to technology that makes use of variable air volume. The variable refrigerant flow systems system is perfect for applications in commercial areas like hotels, supermarkets, and office buildings since it can replace the existing equipment in confined locations with the least amount of piping.

Throughout the forecast period, characteristics including quieter operation, cheaper running costs than traditional procedures, and great energy efficiency are predicted to spur the use of these systems.

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Key Companies in the VRF Systems market include.

  • Emerson Electric Co
  • Samsung
  • Daikin Industries Ltd
  • Schneider Electric SE
  • Toshiba Corporation
  • Johnson Controls International
  • LG Electronics Inc
  • Fujitsu Limited
  • Mitsubishi Electric Corporation
  • Midea Group Co. Ltd

Part Insights

Heat Pump Systems and Heat Recovery Systems are included in the Type-based segmentation of the VRF Systems market. In 2022, the segment with the largest share is Heat Pump Systems.

Outdoor units, indoor units, control systems, and accessories are among the market segmentations for VRF Systems based on component. The market was dominated by the Outdoor Units category.

The VRF Systems market is segmented based on Application into Residential, Commercial, Rail & Air Transportation, and Others. The market for VRF (Variable Refrigerant Flow) Systems is dominated by the residential sector.

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The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. A substantial portion of the market is owned by Asia-Pacific. Rising demand for VRF systems from end users in the residential and commercial sectors is one of the factors driving the growth of the Asia-Pacific VRF Systems market. Other drivers driving the market forward include growing urbanisation, industrialization, and consumer demand for high-tech goods like wireless and connected devices. At a CAGR, the North American region is anticipated to grow significantly. The market is rising as a result of connected technologies’ increasing integration. However, because of the growing use of VRF technology in commercial organisations for flexible designs and energy savings.

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