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VRF Systems Market by System Type (Heat Pump and Heat Recovery System), Component (Compressor, Invertor, Electronic Expansion Valve, Synchronous Electronic Motor and Installation services), Application, and Geography - Global Forecast to 2022

VRF Systems Market by System Type (Heat Pump and Heat Recovery System), Component (Compressor, Invertor, Electronic Expansion Valve, Synchronous Electronic Motor and Installation services), Application, and Geography - Global Forecast to 2022

“The global VRF systems market estimated to grow at a CAGR of 11.4% between 2016 and 2022”
The global variable refrigerant flow (VRF) systems market was estimated to be worth USD 11.08 billion in 2015 and is expected to reach USD 24.09 billion by 2022, growing at a CAGR of 11.4% between 2016 and 2022. The main driving factors for VRF systems market include the good pace of growth of the construction industry, energy efficiency and easy installation of VRF systems. Design flexibility and reliability of VRF systems makes it an excellent choice for commercial building applications.

‘Commercial building segment to exhibit the highest growth during the forecast period’
The commercial building segment is expected to grow at the highest CAGR during the forecast period. VRF systems are widely used in the commercial sector which has been further subsegmented into building applications, educational institutions, healthcare facilities, hotels & restaurants, retail stores, and others. The VRF system market has witnessed considerable growth over the past few years. Some of the major reasons which contribute to the growth of the VRF systems market in the commercial application include enhanced focus on energy-efficient technology & products and revival in construction activities around the world.

“The North American market for VRF systems to grow at the highest rate during the forecast period”
Among all the geographic regions, North America is expected to grow at the highest CAGR during the forecast period. The VRF system has gained huge popularity in last few years in North America due to increasing awareness about energy efficiency and cost savings potential. Some of the market drivers for VRF systems market are changing North American landscape for VRF air0conditioning systems and increasing demand for cost-effective systems. Main driving factors for the VRF systems market in the U.S. are improvement in the general health of the economy and increasing consumer spending, the good pace of growth of the construction industry, and the good health of ductless market.

The breakup of primaries conducted during the study is depicted below.
By Company Type: Tier1 Companies - 50%, Tier 2 Companies – 33% and Tier 3 Companies – 17%
By Designation: C-level Executives – 34%, Directors – 33%, and Others – 33%
By Region: North America – 15%, Europe – 25%, and Asia-Pacific – 60%
The key players in the VRF systems market are Daikin industries Ltd. (Japan), LG Electronics (South Korea), Mitsubishi Electrical (Japan), Midea Group (China), Fujitsu General Corporation (Japan), Johnson Controls, Inc. (U.S.), Lennox International Inc. (U.S.), Toshiba Corporation (Japan), Ingersoll Rand Plc. (Ireland), and United Technologies Corporation (U.S.).

Reasons to Buy the Report:
This report includes the market statistics pertaining to component, system type, application, and geography along with their respective market size.
The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the VRF systems market.
Major drivers, restraints, and opportunities for the VRF systems market have been detailed in this report.
Illustrative segmentation, analysis, and forecast for the markets on the basis of component, system type, application, and geography have been conducted to give an overall view of the VRF systems market.
A detailed competitive landscape includes key players, in-depth analysis, and ranking of key players.
The available customizations for the report can offer further country-wise segmentation of the VRF systems market in terms of value; further breakdown of the industry can be provided along with profiling of any additional companies in the report.


  • INTRODUCTION
    • OBJECTIVE OF THE STUDY
    • MARKET DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • PACKAGE SIZE
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP-APPROACH
      • TOP-DOWN APPROACH
      • MARKET BREAKDOWN AND DATA TRIANGULATION
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE VRF SYSTEMS MARKET
    • APPLICATION OF COMMERCIAL BUILDINGS HELD THE LARGEST SHARE OF THE VRF SYSTEMS MARKET IN APAC IN 2015
    • THE NORTH AMERICAN VRF SYSTEMS MARKET EXPECTED TO GROW AT THE HIGHEST RATE DURING THE FORECAST PERIOD
    • LIFE CYCLE ANALYSIS, BY REGION
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET EVOLUTION
    • MARKET SEGMENTATION
      • BY COMPONENT & SERVICE
        • Table MARKET SEGMENTATION: BY COMPONENT & SERVICE
      • BY SYSTEM TYPE
        • Table MARKET SEGMENTATION: BY SYSTEM TYPE
      • BY APPLICATION
        • Table MARKET SEGMENTATION: BY APPLICATION
      • BY REGION
        • Table MARKET SEGMENTATION: BY GEOGRAPHY
    • MARKET DYNAMICS
      • DRIVERS
        • Table ENERGY SAVINGS ESTIMATION OF VRF SYSTEMS FOR DIFFERENT LOCATIONS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
      • Table GUIDELINES RELATED TO VRF SYSTEMS MARKET ON STANDARDS OF THE AIR-CONDITIONING, HEATING, AND REFRIGERATION INSTITUTE (AHRI) 2015
    • PORTER'S FIVE FORCES ANALYSIS
      • INTENSITY OF COMPETITIVE RIVALRY
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF NEW ENTRANTS
  • VRF SYSTEMS MARKET, BY COMPONENT
    • INTRODUCTION
      • Table VRF SYSTEMS MARKET, BY COMPONENT & SERVICE, 2013-2022 (USD MILLION)
    • OUTDOOR UNITS
      • COMPRESSORS
      • INVERTERS
      • OTHERS
    • INDOOR UNITS
      • ELECTRONIC EXPANSION VALVES
      • SYNCHRONOUS ELECTRONIC MOTORS
      • OTHERS
    • INSTALLATION SERVICES
  • VRF SYSTEMS MARKET, BY SYSTEM TYPE
    • INTRODUCTION
      • Table GLOBAL VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
    • HEAT PUMP VRF SYSTEMS
      • AIR-SOURCE HEAT PUMP VRF SYSTEMS
      • GROUND-SOURCE HEAT PUMP VRF SYSTEMS
      • ABSORPTION HEAT PUMP VRF SYSTEMS
        • Table HEAT PUMP VRF SYSTEMS MARKET, BY REGION, 2013-2022 (USD MILLION)
        • Table HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, 2013-2022 (USD MILLION)
    • HEAT RECOVERY VRF SYSTEMS
      • Table HEAT RECOVERY VRF SYSTEMS MARKET, BY REGION, 2013-2022 (USD MILLION)
      • Table HEAT RECOVERY VRF SYSTEM MARKET, BY APPLICATION, 2013-2022 (USD MILLION)
  • VRF SYSTEMS MARKET, BY APPLICATION
    • INTRODUCTION
      • Table VRF SYSTEMS MARKET, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET, BY APPLICATION, 2013-2022 (THOUSAND UNITS)
    • COMMERCIAL
      • BUILDING APPLICATIONS
      • RETAIL STORES
      • HEALTHCARE FACILITIES
      • HOTELS & RESTAURANTS
      • EDUCATIONAL INSTITUTIONS
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET COMMERCIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET FOR COMMERCIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
    • RESIDENTIAL
      • Table VRF SYSTEMS MARKET SIZE, BY REGION, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET IN APAC, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table RESIDENTIAL APPLICATION VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET FOR RESIDENTIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FRO RESIDENTIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
    • OTHERS
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS, BY REGION, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN EUROPE, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN EUROPE, BY SYSTEM TYPE, 2013-2022 ( THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN APAC, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN APAC, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN ROW, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET FOR OTHER APPLICATIONS IN ROW, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
  • VRF SYSTEMS MARKET, BY GEOGRAPHY
    • INTRODUCTION
      • Table VRF SYSTEMS MARKET, BY REGION, 2013-2022 (USD MILLION)
      • Table VRF SYSTEMS MARKET, BY REGION, 2013-2022 (THOUSAND UNITS)
    • NORTH AMERICA
      • NORTH AMERICA:INCREASING DEMAND FOR VRF SYSTEMS FOR ENERGY EFFICIENCY AND COST-EFFECTIVENESS
      • U.S
      • CANADA
      • MEXICO
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY COUNTRY, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY COUNTRY, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY APPLICATION, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY APPLICATION, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
    • EUROPE
      • U.K
      • GERMANY
      • RUSSIA
      • ITALY
      • FRANCE
      • TURKEY
      • REST OF EUROPE
        • Table VRF SYSTEMS MARKET IN EUROPE, BY COUNTRY, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN EUROPE, BY COUNTRY, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN EUROPE, BY APPLICATION, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN EUROPE, BY APPLICATION, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN EUROPE, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN EUROPE, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
    • APAC
      • PRESENCE OF MAJOR VRF SYSTEMS MANUFACTURERS IN APAC
      • JAPAN
      • CHINA
      • SOUTH KOREA
      • INDIA
      • REST OF APAC
        • Table VRF SYSTEMS MARKET IN APAC, BY COUNTRY, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN APAC, BYCOUNTRY , 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN APAC, BY APPLICATION, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN APAC, BY APPLICATION, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN APAC, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN APAC, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
    • REST OF THE WORLD
      • THE MIDDLE EAST
      • SOUTH AMERICA
      • AFRICA
        • Table VRF SYSTEMS MARKET IN ROW, BYREGION , 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN ROW, BY REGION, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET IN ROW, BY APPLICATION, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET IN ROW, BY APPLICATION, 2013-2022 (THOUSAND UNITS)
        • Table VRF SYSTEMS MARKET SIZE IN ROW, BY SYSTEM TYPE, 2013-2022 (USD MILLION)
        • Table VRF SYSTEMS MARKET SIZE IN ROW, BY SYSTEM TYPE, 2013-2022 (THOUSAND UNITS)
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • MARKET RANKING FOR VRF SYSTEMS MARKET, 2015
      • Table MARKET RANK ANALYSIS OF THE TOP PLAYERS IN THE VRF SYSTEMS MARKET
    • COMPETITIVE SCENARIO
    • DEVELOPMENTS
      • NEW PRODUCT LAUNCHES
        • Table NEW PRODUCT LAUNCHES, 2015-2016
      • ACQUISITION AND MERGERS
        • Table ACQUISITION & MERGER, 2014-2016
      • PARTNERSHIPS, AGREEMENTS, EXPANSION & COLLABORATIONS
        • Table PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2015-2016
      • EXPANSION
        • Table EXPANSION, 2015-2016
  • COMPANY PROFILES
    • INTRODUCTION
    • DAIKIN INDUSTRIES, LTD.
      • BUSINESS OVERVIEW
        • Table DAIKIN INDUSTRIES LTD.: KEY FINANCIAL STATEMENTS (USD MILLION)
        • Table DAIKIN INDUSTRIES, INC.: KEY FINANCIAL RATIOS
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • JOHNSON CONTROLS, INC.
      • BUSINESS OVERVIEW
        • Table JOHNSON CONTROLS, INC.: FINANCIAL SNAPSHOT (USD MILLION)
        • Table JOHNSON CONTROL, INC.: KEY FINANCIAL RATIOS
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • LG ELECTRONICS, INC.
      • BUSINESS OVERVIEW
        • Table LG ELECTRONICS, INC.: FINANCIAL SNAPSHOT (USD MILLION)
        • Table LG ELECTRONICS, INC.: KEY FINANCIAL RATIOS
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TOSHIBA CORPORATION
      • BUSINESS OVERVIEW
        • Table TOSHIBA CORPORATION .: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table TOSHIBA CORPORATION.: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENT
    • FUJITSU GENERAL LTD.
      • BUSINESS OVERVIEW
        • Table FUJITSU GENERAL LTD.: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table FUJITSU GENERAL LTD.: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENT
      • MNM VIEW
    • MITSUBISHI ELECTRIC CORPORATION
      • BUSINESS OVERVIEW
        • Table MITSUBISHU ELECTRIC CORPORATION.: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table MITSUBISHU ELECTRIC CORPOTATION.: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MIDEA GROUP CO., LTD.
      • BUSINESS OVERVIEW
        • Table MIDEA GROUP CO., LTD.: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table MIDEA GROUP CO., LTD .: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENT
    • SCHNEIDER ELECTRIC SE
      • BUSINESS OVERVIEW
        • Table SCHNEIDER ELECTRIC SE: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table SCHNEIDER ELECTRIC SE: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • UNITED TECHNOLOGIES CORPORATION
      • BUSINESS OVERVIEW
        • Table UNITED TECHNOLOGIES CORPORATION : FINANCIAL SNAPSHOT (USD MILLION)
        • Table UNITED TECHNOLOGIES CORPORATION : KEY FINANCIAL RATIOS
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • EMERSON ELECTRIC CO.
      • BUSINESS OVERVIEW
        • Table EMERSON ELECTRIC CO.: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table EMERSON ELECTRIC CO.: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • INGERSOLL-RAND PLC
      • BUSINESS OVERVIEW
        • Table INGERSOLL RAND PLC.: KEY FINANCIAL STATEMENTS (USD MILLION)
        • Table INGERSOLL RAND PLC.: KEY RATIOS
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • LENNOX INTERNATIONAL INC.
      • BUSINESS OVERVIEW
        • Table LENNOX INTERNATIONAL, INC .: KEY FINANCIAL STATEMENT (USD MILLION)
        • Table LENNOX INTERNATIONAL, INC.: KEY FINANCIAL RATIO
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS

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