VRF Systems Market Estimated to Grow with a Healthy CAGR During Forecast Period 2020-2027

Market Highlights

Market Research Future (MRFR) announces the publication of its half-cooked research report—Global VRF Systems Market 2018–2026.

According to Market Research Future, the global residential vrf systems market has been segmented based on component, compressor units, system types, capacity, application, and region.

The growing urbanization and industrialization across the globe have increased the requirement of energy-efficient systems for heating and cooling an area within a personal or commercial premise which is some of the factors driving the growth of the market. Similarly, various other factors are also contributing towards the growth of the market for instance growing adoption of inverter-based compressors for outdoor units, wireless control systems for monitoring indoor units, and others.

Based on component, the market has been segmented into outdoor units, indoor units, and control systems and accessories. The indoor units held the largest share in 2019 due to their capability to provide better ventilation, it helps in the reduction of energy use and offers other benefits making an ideal component for the VRF systems. Similarly, the outdoor units are expected to be the fastest-growing segment during the forecast period due to increasing construction and increasing demand for energy-efficient systems is expected to fuel the growth of the market during the coming years.

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Based on system type the VRF systems market has been segmented as a heat pump system and heat recovery system. The heat recovery systems held the largest share for the segment based on the system type due to their capability to offer to heat and cooling both simultaneously. Similarly, the increasing demand for energy-efficient systems and increasing demand for environment-friendly systems is also fueling the growth for the segment. 

Based on application the VRF systems market has been segmented as residential, healthcare, automobile, hotels, educational institutes, retail stores, and others. The residential segment is expected to be the fastest-growing segment during the forecast period due to increasing demand by the individuals due to its ability to consume less power as compared to the previous systems. Furthermore, the rise in the construction of residential buildings and bungalows is also fueling the growth of the market.

Furthermore, based on region the market has been segmented as North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific holds the largest share due to presence of various companies which are developing new and advanced technology and systems, followed by North America, Europe and the rest of the world

Key Players

The prominent players in the VRF Systems market are Emerson Electric Co. (US), United Technologies Corporation (US), Daikin Industries Ltd. (Japan), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), Toshiba Corporation (Japan), LG Electronics Inc. (South Korea), Fujitsu Limited (Japan), Mitsubishi Electric Corporation (Japan), Midea Group Co. Ltd. (China), Samsung Electronics (South Korea), and Panasonic Corporation (Japan) among others.

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

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