DUBLIN, April 12, 2022 /PRNewswire/ — The “VRF Systems Global Market – Forecast from 2021 to 2026” report has been added to from ResearchAndMarkets.com offer.
The global market for VRF systems is estimated at 11.434 billion in 2019. A typical VRF system consists of an outdoor unit, several indoor units, refrigerant piping running from outdoor to indoor, using joints refnet and communication wiring. They provide powerful heating and cooling for all indoor and outdoor units without using air ducts.
VRF systems are energy efficient, control temperature precisely, and provide simultaneous heating and cooling services. These advantages give these systems an edge over traditional heating systems and are the major reasons for its growth in the market. Another major factor driving the growth of the VRF systems market is the growth of the construction industry and the relaxation of standards for the construction and real estate sectors and the high energy saving potential as well that the easy and minimal maintenance requirements of VRF systems are driving this market.
By type, the heat pump system dominates the market due to its uses in commercial buildings and residential complexes. Per appResearch-and-Markets running cost.
Growing commercial uses
VRF systems can provide solutions for all HVAC needs, regardless of complex size. They are energy efficient, precise and easy to maintain in nature. They are well suited to multi-room schools or sprawling campuses and have central control. Healthcare facilities need heat and cooling at the same time and these systems are ideal for fresh air, improving climate control and protecting against air cross-contamination. They are also used in museums and historical sites as they are ductless. Lobby areas, hotels, large spaces, high-rise office buildings are also turning to these systems for efficient cooling or heating solutions. As commercial infrastructures grow and adopt smart design choices in the present day, the market for VRS systems is sure to grow.
Growing environmental concern due to harmful gases emitted from heating and cooling appliances installed in residential and commercial installations has drawn the attention of national governments and international agencies. VRF systems consume less energy by eliminating the need to pump heated water and air through a building, reducing costs and accommodating environmental impact. There is also the benefit of reducing energy waste by providing only the heating or cooling energy needed for specific hours and occupancy load. Thus, greatly lowering the stress of global warming.
Impact of COVID-19 on the VRF System market
As commercial establishments remained closed to curb the spread of the coronavirus, demand for VRS systems began to decline from some end-user industries. However, demand from the healthcare sector has increased over this period. Some studies have even pointed to the benefits of purified air, many of which slow the spread of the virus, but concrete evidence is still awaited. Market players have resorted to hardware and system changes like the introduction of sophisticated airflow control systems, such as those that are pressure sensitive, to enable smoother adjustment of airflows. air, installing high-performance air purification systems, among others, to capture the profitability that arose.
Market leaders in the global VRF systems market are Johnson Controls, United Technologies, Daikin Industries, Ltd, Fujitsu, Lennox International Inc., LG Electronics, Panasonic Corporation, Mitsubishi Electric and Danfoss A/S. Major players in the market are implementing growth strategies such as product launches, mergers and acquisitions, to gain a competitive advantage over their competitors.
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining power of suppliers
4.3.2. The bargaining power of buyers
4.3.3. The threat of new entrants
4.3.4. The threat of substitutes
4.3.5. Competitive rivalry in the industry
4.4. Industry Value Chain Analysis
5. GLOBAL VRF SYSTEMS MARKET, BY TYPE
5.2. Cooling systems only
5.3. Heat pump systems
5.4. Heat recovery systems
6. GLOBAL VRF SYSTEMS MARKET, BY COMPONENT
6.2. indoor unit
6.3. outdoor unit
7. GLOBAL VRF SYSTEMS MARKET, BY APPLICATION
8. GLOBAL VRF SYSTEMS MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. United Arab Emirates
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Intelligence
9.1. Key Players and Strategic Analysis
9.2. Emerging players and lucrative market
9.3. Mergers, acquisitions, agreements and collaborations
9.4. Supplier Competitiveness Matrix
10. COMPANY PROFILES
10.1. Johnson Controls
10.2. United Technologies
10.3. Daikin Industries, Ltd.
10.5. Lennox International Inc.
10.6. LG Electronics
10.7. Panasonic Company
10.8. Electric Mitsubishi
10.9. Danfoss A/S
For more information on this report, visit https://www.researchandmarkets.com/r/yq7gxk
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