Global VRF System Market - Forecasts from 2018 to 2023

Global VRF System Market - Forecasts from 2018 to 2023

Global VRF System market is projected to grow at a CAGR of 9.49% during the forecast period to reach a total market value of US$18.732 billion by 2023, increasing from US$10.874 billion in 2017. Variable Refrigerant Flow (VRF) Systems is a kind of heating, ventilation and air conditioning (HVAC) technology capable of providing not only cooling, but also heating, and even both simultaneously to different areas within a space. The use of multiple indoor units provides the ability to create zones that can be individually controlled. The market growth is attributed to the VRF systems being energy efficient, provides consistent comfort and requiring less space, leading to increasing demand across different industry verticals.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global VRF system value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.

Major industry players profiled as part of the report are Johnson Controls, AHI Carrier, Daikin Industries, and Fujitsu among others.


By Type

Cooling-Only Systems

Heat Pump Systems

Heat Recovery Systems

By Component

Indoor Unit

Outdoor Unit



By Application




By Geography

North America





South America










Middle East and Africa

Saudi Arabia




Asia Pacific





South Korea


1. Introduction

1.1. Market Definition

1.2. Scope of the Study

1.3. Currency

1.4. Assumptions

1.5. Base, and Forecast Years Timeline

2. Research Methodology

2.1. Research Design

2.2. Secondary Sources

2.3. Validation

3. Executive Summary

4. Market Dynamics

4.1. Market Segmentation

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Porter’s Five Force Analysis

4.5.1. Bargaining Power of Suppliers

4.5.2. Bargaining Power of Buyers

4.5.3. Threat of New Entrants

4.5.4. Threat of Substitutes

4.5.5. Competitive Rivalry in The Industry

4.6. Life Cycle Analysis- Regional Snapshot

4.7. Market Attractiveness

5. Global VRF System Market by Type

5.1.1. Cooling-Only Systems

5.1.2. Heat Pump Systems

5.1.3. Heat Recovery Systems

6. Global VRF System Market by Component

6.1.1. Indoor Unit

6.1.2. Outdoor Unit

6.1.3. Refrigerant

6.1.4. Others 

7. Global VRF System Market by Application

7.1.1. Industrial

7.1.2. Residential

7.1.3. Commercial

8. Global VRF System Market by Geography

8.1. North America

8.1.1. U.S. 

8.1.2. Canada

8.1.3. Mexico

8.1.4. Others

8.2. South America

8.2.1. Brazil

8.2.2. Argentina

8.2.3. Others

8.3. Europe

8.3.1. UK

8.3.2. Germany

8.3.3. France

8.3.4. Italy

8.3.5. Others

8.4. Middle East and Africa

8.4.1. Saudi Arabia

8.4.2. UAE

8.4.3. Israel

8.4.4. Others

8.5. Asia Pacific

8.5.1. Japan

8.5.2. China

8.5.3. India

8.5.4. Australia

8.5.5. South Korea

8.5.6. Others

9. Competitive Intelligence

9.1. Market Share Analysis

9.2. Investment Analysis

9.3. Recent Deals

9.4. Strategies of Key Players

10. Company Profiles

10.1. Johnson Controls

10.2. AHI Carrier

10.3. Daikin Industries, Ltd

10.4. Fujitsu 

10.5. Lennox International Inc.

10.6. LG Electronics

10.7. Panasonic Corporation 

10.8. Mitsubishi Electric 

10.9. Danfoss A/S

Johnson Controls
AHI Carrier
Daikin Industries, Ltd
Lennox International Inc.
LG Electronics
Panasonic Corporation 
Mitsubishi Electric 
Danfoss A/S
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  • Publishing Date: 2018-05-04
  • Product Code: 1
  • Availability: In Stock
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