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VRF System Market by System Type (Heat Pump, Heat Recovery), Component (Outdoor Unit, Indoor Unit, Control Systems, and Accessories), Application (Commercial: Office Buildings, Retail Stores, Residential), and Geography - Global Forecast to 2023

VRF System Market by System Type (Heat Pump, Heat Recovery), Component (Outdoor Unit, Indoor Unit, Control Systems, and Accessories), Application (Commercial: Office Buildings, Retail Stores, Residential), and Geography - Global Forecast to 2023

“VRF system market anticipated to grow at a CAGR of 12.43% from 2017 to 2023”
The VRF system market is estimated to be worth USD 22.79 billion by 2023, growing at a CAGR of 12.43% between 2017 and 2023. The increasing adoption of heat pump and heat recovery systems in commercial and residential building application is expected to drive the growth of VRF system market from 2017 to 2023. A major factor restraining the growth of VRF system market is high installation cost.

“VRF system market for heat recovery system estimated to grow at a higher CAGR during the forecast period”
On the basis of system type, the VRF system market has been classified into heat pump and heat recovery system. The market for heat recovery system is expected to grow at a higher CAGR during the forecast period. Heat recovery systems have the ability to provide heating and cooling simultaneously and are flexible enough to operate in different climatic conditions. These are the main reasons for the high growth of heat recovery system market between 2017 and 2023.

Market for residential applications expected to grow at the highest CAGR during the forecast period
The VRF system market for the residential application is expected to grow at the highest CAGR during the forecast period owing to the good pace of construction industry and easy installation of VRF system. System reliability and design flexibility of VRF system make it an excellent choice for residential applications.

“Asia Pacific accounted for the largest share of the VRF system market in 2016”
Asia Pacific accounted for the largest share of the VRF system market in 2016. The VRF system market in Asia Pacific is driven by various factors such as technological advancements and the early adoption of various VRF technologies by countries such as Japan, China, and South Korea.

The breakup of primaries conducted during the study is depicted below:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 –25%
• By Designation: C-Level Executives – 57%, Directors – 29%, and Others – 14%
• By Region: North America– 37%, Europe – 34%, APAC – 20%, and RoW – 9%

The key players operating in the VRF system market are Daikin Industries (Japan), Mitsubishi Electric (Japan), Hitachi (Japan), Midea Group (China), United Technologies (US), Samsung Electronics (South Korea), Panasonic (Japan), Lennox International (US), Ingersoll Rand (Ireland), Fujitsu General (Japan), and LG Electronics (South Korea).

Research Coverage:
This report covers the VRF system market based on component, application, system type, and geography. The VRF system market based on components has been segmented into indoor units, outdoor units, and control systems and accessories. Based on applications, the VRF system market has been segmented into commercial, residential, and others. On the basis of system type, the VRF system market has been classified into heat pump and heat recovery system. On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and RoW.

Key Benefits of Buying the Report:
• This report includes the market statistics pertaining to component, application, system type, and region, along with their respective market sizes.
• In-depth analysis of the value chain has been done to provide an in-depth insight into the VRF system market.
• Major drivers, restraints, challenges, and opportunities for the VRF system market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast for the markets on the basis of component, application, system type, and region have been conducted to provide an overall view of the VRF system market.
• The report includes a detailed competitive leadership mapping, including key players and in-depth analysis and ranking of the key players.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR STUDY
    • CURRENCY
    • PACKAGE SIZE
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE VRF SYSTEM MARKET
    • VRF SYSTEM MARKET, BY APPLICATION
    • VRF SYSTEM MARKET, BY GEOGRAPHY
    • VRF SYSTEM MARKET, BY SYSTEM TYPE
    • VRF SYSTEM MARKET, BY COMPONENT
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • VALUE CHAIN ANALYSIS
  • VRF SYSTEM MARKET, BY COMPONENT
    • INTRODUCTION
      • Table VRF SYSTEM MARKET, BY COMPONENT, 2014-2023 (USD BILLION)
    • OUTDOOR UNITS
      • Table VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY, 2014-2023 (USD BILLION)
      • Table VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY REGION, 2014-2023 ( USD MILLION)
      • COMPRESSORS
      • INVERTERS
      • OTHERS
    • INDOOR UNITS
      • Table VRF SYSTEM MARKET FOR INDOOR UNITS, BY REGION, 2014-2023 (USD MILLION)
      • ELECTRONIC EXPANSION VALVES
      • SYNCHRONOUS ELECTRONIC MOTORS
      • OTHERS
    • CONTROL SYSTEMS AND ACCESSORIES
      • Table VRF SYSTEM MARKET FOR CONTROL SYSTEMS AND ACCESSORIES, BY REGION, 2014-2023 (USD MILLION)
  • VEF SYSTEM MARKET, BY SYSTEM TYPE
    • INTRODUCTION
      • Table VRF SYSTEM MARKET, BY SYSTEM TYPE, 2014-2023 (USD BILLION)
      • Table VRF SYSTEM MARKET, BY SYSTEM TYPE, 2014-2023 (THOUSAND UNITS)
    • HEAT PUMP VRF SYSTEMS
      • AIR-SOURCE HEAT PUMP VRF SYSTEMS
      • GROUND-SOURCE HEAT PUMP VRF SYSTEMS
      • ABSORPTION HEAT PUMP VRF SYSTEMS
        • Table VRF HEAT PUMP SYSTEM MARKET, BY REGION, 2014-2023 (USD MILLION)
        • Table VRF HEAT PUMP SYSTEM MARKET, BY APPLICATION, 2014-2023 (USD MILLION)
    • HEAT RECOVERY VRF SYSTEMS
      • Table VRF HEAT RECOVERY SYSTEM MARKET, BY REGION, 2014-2023 (USD MILLION)
      • Table VRF HEAT RECOVERY SYSTEM MARKET, BY APPLICATION, 2014-2023 (USD MILLION)
  • VRF SYSTEM MARKET, BY APPLICATION
    • INTRODUCTION
      • Table VRF SYSTEM MARKET, BY APPLICATION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET, BY APPLICATION, 2014-2023 (THOUSAND UNITS)
    • COMMERCIAL APPLICATIONS
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • OFFICE BUILDINGS
      • RETAIL STORES
      • HEALTHCARE FACILITIES
      • HOSPITALITY BUILDINGS
      • EDUCATIONAL BUILDINGS
      • HISTORICAL BUILDINGS
      • GOVERNMENT BUILDINGS
    • RESIDENTIAL BUILDINGS
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
    • OTHERS
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN EUROPE, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN APAC, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN ROW, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table VRF SYSTEM MARKET, BY REGION, 2014-2023 (USD BILLION)
      • Table VRF SYSTEM MARKET, BY REGION, 2014-2023 (THOUSAND UNITS)
    • NORTH AMERICA
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2014-2023 (THOUSAND UNITS)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • Table VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN EUROPE, BY APPLICATION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN EUROPE, BY APPLICATION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE, 2014-2023 (THOUSAND UNITS)
      • TURKEY
      • UK
      • GERMANY
      • RUSSIA
      • ITALY
      • FRANCE
      • REST OF EUROPE
    • APAC
      • Table VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2014-2023 (THOUSAND UNITS)
      • JAPAN
      • CHINA
      • SOUTH KOREA
      • INDIA
      • AUSTRALIA
      • REST OF APAC
    • REST OF THE WORLD
      • Table VRF SYSTEM MARKET IN ROW, BY REGION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN ROW, BY REGION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2014-2023 (THOUSAND UNITS)
      • Table VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2014-2023 (USD MILLION)
      • Table VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2014-2023 (THOUSAND UNITS)
      • THE MIDDLE EAST
      • SOUTH AMERICA
      • AFRICA
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • MARKET RANKING OF PLAYERS IN THE VRF SYSTEM MARKET, 2016
      • Table RANKING OF TOP 5 PLAYERS IN THE VRF SYSTEM MARKET, 2016
    • COMPETITIVE SITUATION AND TRENDS
      • PRODUCT LAUNCHES AND DEVELOPMENTS
        • Table PRODUCT LAUNCHES AND DEVELOPMENTS, 2015-2017
      • ACQUISITIONS AND MERGERS
        • Table ACQUISITION & MERGERS, 2015-2017
      • PARTNERSHIPS, AGREEMENTS, &COLLABORATIONS
        • Table PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2015-2017
      • EXPANSIONS
        • Table EXPANSIONS, 2015-2017
  • COMPANY PROFILES
    • INTRODUCTION
    • DAIKIN INDUSTRIES
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • JOHNSON CONTROLS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • LG ELECTRONICS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • TOSHIBA
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENT
    • FUJITSU GROUP
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENT
    • MITSUBISHI ELECTRIC
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • MIDEA GROUP
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • UNITED TECHNOLOGIES
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • INGERSOLL RAND
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • LENNOX INTERNATIONAL
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • PANASONIC
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • SAMSUNG ELECTRONICS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • KEY INNOVATORS
      • GREE
      • CARRIER
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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