7/16/2021 VRF Refrigeration Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast – Facts

cast – Facts and Trends

VRF Refrigeration Systems Market – Global

Industry Analysis, Size, Share, Growth, Trends,
And Forecast
JULY 16, 2021 BY SURENDRA CHOUDHARY  ♥

Variable refrigerant flow (VRF) refrigeration systems provide variable flow of refrigerant into the
evaporators with different capacities and configurations. This enables simultaneous heating and
cooling and better heat recovery from one zone to another in a heating, ventilation, and air
conditioning (HVAC) system. This flow of refrigerant is controlled by VRF system.

The augmenting demand from commercial and small-medium businesses for flexible design of
HVAC systems due to shrinking work-spaces is the key trend driving the demand for VRF
refrigeration systems. The compact design and flexible layout in terms of outdoor to indoor units
are the added benefits leading to its adoption in commercial as well as residential HVAC systems.

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VRF refrigeration market is segmented on the basis of component type and end-use industry. On
the basis of component type, VRF refrigeration market is further segmented into indoor units,
outdoor units, controllers and parts & accessories. Most of VRF refrigerant systems consist of indoor
units to deliver the processed air. Outdoor units are used for heat recovery and control the flow of
refrigerant.

VRF Refrigeration Systems Market: Segmentation

In terms of end-use industry, VRF refrigeration market is further classified as healthcare,

commercial buildings, education institutes, government and public sector, retail, manufacturing,
banking, financial sector and insurance (BFSI) and manufacturing. On a broader scale, VRF systems
are deployed in commercial spaces such as small and medium businesses, shopping complexes and
large organizations. This is largely due to easy installation, efficient design and high sustainability
provide by the VRF systems, making them an effective choice over other HVAC systems.

The demand-specific flow of refrigerant makes it energy efficient and rising cognizance of energy
efficiency in developed as well as in emerging markets makes this a key factor driving the market
growth. Along with this, strict government reforms which encourage the use of energy efficient
HVAC systems, especially in commercial spaces, is expected to pave the market growth in near
term.

VRF Refrigeration Systems Market: Region-wise Outlook

Lack of awareness, especially in emerging economies in Asia Pacific, Africa and Latin America
region is expected to restrain its market growth. Furthermore, development of eco-friendly
refrigerant for VRF systems and increasing penetration of VRF systems in residential segment can
be foreseen as huge market opportunity for development of VRF systems in the future years.

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7/16/2021 VRF Refrigeration Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast – Facts and Trends

On a global perspective, with the earlier adoption of VRF systems in Asia Pacific and Europe
regions in comparison with the markets in North America, Middle East & Africa and Latin America
regions . These regions are expected to be the market leaders in terms of adoption of VRF systems,
in the current scenario. However, North America is expected to surpass these markets in coming
years, as a reason of vast adoption of VRF systems in the region. In terms of end-use applications,
commercial buildings are expected to dominate of the VRF systems market. However, healthcare
sector is expected to grow at a faster rate in comparison to the other industry verticals during the
forecast period.

VRF Refrigeration Systems Market: Key Players

Some of the key manufactures in the development and manufacturing of VRF refrigeration systems
are Daikin Industries, Ltd., Ingersoll-Rand plc, LG Corporation, Mitsubishi Electric US, Inc.,
Johnson Controls, Inc., Blue Star Ltd., Voltas, Ltd., Encore Mechanical, L.L.C., Carrier Corporation,
Fujitsu General Ltd., Panasonic Corporation, Lennox Industries, Inc., Haier, Inc. and Gree Electric
Appliances, Inc.

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