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Variable Refrigerant Flow System Market by End-Users and Geography - Global Forecast and Analysis 2019-2023

Variable Refrigerant Flow System Market by End-Users and Geography - Global Forecast and Analysis 2019-2023

Global Variable Refrigerant Flow System Market: About this market

Technavio’s variable refrigerant flow (VRF) system market analysis considers sales from commercial, residential, and others. Our analysis also considers the sales of variable refrigerant flow system in APAC, Europe, North America, South America, and MEA. In 2018, the commercial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing application of VRF solutions will play a significant role in the commercial segment to maintain its market position. Also, our global variable refrigerant flow system market report looks at factors such as the growing construction industry, rising demand for energy-efficient equipment, and favorable regulations. However, high installation cost, complexities in installation of VRF systems, and stringent regulations may hamper the growth of the variable refrigerant flow system industry over the forecast period.

Global Variable Refrigerant Flow System Market: Overview

Rising demand for energy-efficient equipment

VRF systems are highly energy-efficient and can help residential and commercial buildings in saving energy compared with traditional air conditioning equipment. The high energy performance of the equipment and its ability to save labor and operational costs will increase sales for vendors. This demand for energy-efficient equipment will lead to the expansion of the global variable refrigerant flow system market at a CAGR of over 10% during the forecast period.

New product launches

Manufacturers of VRF systems are adopting innovative and distributive strategies to increase the market size of their products. New product launches by regional and international players contribute and accelerate the growth of vendors operating in the global variable refrigerant flow system market by increasing their revenue flow and expanding their consumer base. Thus, successful product launches are expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global variable refrigerant flow system market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global variable refrigerant flow system market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position. This report provides a detailed analysis of several leading variable refrigerant flow system manufacturers, that include Daikin Industries Ltd., Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Midea Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Toshiba Corp.

Also, the variable refrigerant flow system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Key offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global electrical equipment market
      • Table Segments of global electrical equipment market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by end-user
    • Table End-user - Market share 2018-2023 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Commercial - Market size and forecast 2018-2023
      • Table Commercial - Market size and forecast 2018-2023 ($ millions)
      • Table Commercial - Year-over-year growth 2019-2023 (%)
    • Residential - Market size and forecast 2018-2023
      • Table Residential - Market size and forecast 2018-2023 ($ millions)
      • Table Residential - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 ($ millions)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Rising number of partnerships and joint ventures
    • New product launches
    • New production facilities
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Daikin Industries Ltd.
      • Table Daikin Industries Ltd. - Vendor overview
      • Table Daikin Industries Ltd. - Business segments
      • Table Daikin Industries Ltd. - Organizational developments
      • Table Daikin Industries Ltd. - Geographic focus
      • Table Daikin Industries Ltd. - Segment focus
      • Table Daikin Industries Ltd. - Key offerings
    • Ingersoll-Rand Plc
      • Table Ingersoll-Rand Plc - Vendor overview
      • Table Ingersoll-Rand Plc - Business segments
      • Table Ingersoll-Rand Plc - Organizational developments
      • Table Ingersoll-Rand Plc - Geographic focus
      • Table Ingersoll-Rand Plc - Segment focus
      • Table Ingersoll-Rand Plc - Key offerings
    • Johnson Controls International Plc
      • Table Johnson Controls International Plc - Vendor overview
      • Table Johnson Controls International Plc - Business segments
      • Table Johnson Controls International Plc - Organizational developments
      • Table Johnson Controls International Plc - Geographic focus
      • Table Johnson Controls International Plc - Segment focus
      • Table Johnson Controls International Plc - Key offerings
    • Lennox International Inc.
      • Table Lennox International Inc. - Vendor overview
      • Table Lennox International Inc. - Business segments
      • Table Lennox International Inc. - Organizational developments
      • Table Lennox International Inc. - Geographic focus
      • Table Lennox International Inc. - Segment focus
      • Table Lennox International Inc. - Key offerings
    • LG Electronics Inc.
      • Table LG Electronics Inc. - Vendor overview
      • Table LG Electronics Inc. - Business segments
      • Table LG Electronics Inc. - Organizational developments
      • Table LG Electronics Inc. - Geographic focus
      • Table LG Electronics Inc. - Segment focus
      • Table LG Electronics Inc. - Key offerings
    • Midea Group Co. Ltd.
      • Table Midea Group Co. Ltd. - Vendor overview
      • Table Midea Group Co. Ltd. - Business segments
      • Table Midea Group Co. Ltd. - Organizational developments
      • Table Midea Group Co. Ltd. - Geographic focus
      • Table Midea Group Co. Ltd. - Segment focus
      • Table Midea Group Co. Ltd. - Key offerings
    • Mitsubishi Electric Corp.
      • Table Mitsubishi Electric Corp. - Vendor overview
      • Table Mitsubishi Electric Corp. - Business segments
      • Table Mitsubishi Electric Corp. - Organizational developments
      • Table Mitsubishi Electric Corp. - Geographic focus
      • Table Mitsubishi Electric Corp. - Segment focus
      • Table Mitsubishi Electric Corp. - Key offerings
    • Panasonic Corp.
      • Table Panasonic Corp. - Vendor overview
      • Table Panasonic Corp. - Business segments
      • Table Panasonic Corp. - Organizational developments
      • Table Panasonic Corp. - Geographic focus
      • Table Panasonic Corp. - Segment focus
      • Table Panasonic Corp. - Key offerings
    • Samsung Electronics Co. Ltd.
      • Table Samsung Electronics Co. Ltd. - Vendor overview
      • Table Samsung Electronics Co. Ltd. - Business segments
      • Table Samsung Electronics Co. Ltd. - Organizational developments
      • Table Samsung Electronics Co. Ltd. - Geographic focus
      • Table Samsung Electronics Co. Ltd. - Segment focus
      • Table Samsung Electronics Co. Ltd. - Key offerings
    • Toshiba Corp.
      • Table Toshiba Corp. - Vendor overview
      • Table Toshiba Corp. - Business segments
      • Table Toshiba Corp. - Organizational developments
      • Table Toshiba Corp. - Geographic focus
      • Table Toshiba Corp. - Segment focus
      • Table Toshiba Corp. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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