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.
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.
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