U.S. Variable Refrigerant Flow (VRF) Systems Market
Market Report I 2024-09-01 I 88 Pages I Data Bridge Market Research
U.S. Variable Refrigerant Flow (VRF) systems market is expected to reach USD 20.38 billion by 2031 from USD 12.80 billion in 2023, growing with a CAGR of 6.3% in the forecast period of 2024 to 2031.
Market Segmentation:
U.S. Variable Refrigerant Flow (VRF) Systems Market, By Components (Outdoor Units, Indoor Units, Control Systems, and Accessories), Capacity (Upto 10 Tons, 11 to 18 Tons, 19 to 26 Tons, and Above 26 Tons) System Type (Heat Pump Systems and Heat Recovery Systems), Application (Commercial, Residential, and Others), Country (U.S.) - Industry Trends and Forecast to 2031
Overview of U.S. Variable Refrigerant Flow (VRF) Systems Market Dynamics:
Driver
- Growing focus on energy-efficiency VRF systems
Restraint
- High installation and setup costs for VRF systems
Opportunity
- Retrofitting of existing buildings with VRF system
Market Players:
The key market players operating in the U.S. Variable Refrigerant Flow (VRF) systems market are listed below:
- DAIKIN INDUSTRIES, Ltd
- Mitsubishi Electric Corporation
- Midea
- Johnson Controls
- LG Electronics.
- FUJITSU GENERAL
- Ingersoll-Rand plc
- Lennox International Inc.
- Panasonic Corporation
- Samsung HVAC
1 INTRODUCTION 9
1.1 OBJECTIVES OF THE STUDY 9
1.2 MARKET DEFINITION 9
1.3 OVERVIEW OF THE U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET 9
1.4 CURRENCY AND PRICING 10
1.5 LIMITATIONS 10
1.6 MARKETS COVERED 11
2 MARKET SEGMENTATION 12
2.1 MARKETS COVERED 12
2.2 GEOGRAPHICAL SCOPE 13
2.3 YEARS CONSIDERED FOR THE STUDY 13
2.4 DBMR TRIPOD DATA VALIDATION MODEL 14
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 17
2.6 DBMR MARKET POSITION GRID 18
2.7 MARKET APPLICATION COVERAGE GRID 19
2.8 MULTIVARIATE MODELING 20
2.9 COMPONENTS TIMELINE CURVE 21
2.10 SECONDARY SOURCES 22
2.11 ASSUMPTIONS 22
3 EXECUTIVE SUMMARY 23
4 PREMIUM INSIGHTS 25
5 MARKET OVERVIEW 26
5.1 DRIVERS 28
5.1.1 GROWING FOCUS ON ENERGY-EFFICIENT VRF SYSTEMS 28
5.1.2 INCREASING ADOPTION OF SMART BUILDINGS/IOT-BASED VRF SYSTEMS 29
5.1.3 GROWING URBANIZATION AND INFRASTRUCTURE DEVELOPMENT FUELS THE VRF SYSTEM ADOPTION 30
5.1.4 STRINGENT ENVIRONMENTAL REGULATIONS ENCOURAGE ADOPTION OF ECO-FRIENDLY VRF SYSTEMS 32
5.2 RESTRAINTS 33
5.2.1 HIGH INSTALLATION AND SETUP COSTS FOR VRF SYSTEMS 33
5.2.2 REQUIREMENT FOR SKILLED WORKFORCE FOR COMPLEX MAINTENANCE OF VRF SYSTEMS 33
5.3 OPPORTUNITIES 34
5.3.1 RETROFITTING OF EXISTING BUILDINGS WITH VRF SYSTEM 34
5.3.2 INCREASING PARTNERSHIP AND ACQUISITION AMONG MARKET PLAYERS 35
5.3.3 DEVELOPMENT OF SUSTAINABLE HVAC SOLUTIONS 36
5.4 CHALLENGES 37
5.4.1 LEAKAGE IN REFRIGERANT CAUSES CONCERN FOR HARMFUL ENVIRONMENTAL IMPACTS 37
5.4.2 INSTALLATION COMPLEXITY OF VRF SYSTEM 38
6 U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET, BY COMPONENTS 39
6.1 OVERVIEW 40
6.2 OUTDOOR UNITS 41
6.3 INDOOR 41
6.4 CONTROL SYSTEMS 41
6.5 ACCESSORIES 41
7 U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET, BY CAPACITY 42
7.1 OVERVIEW 43
7.2 UPTO 10 TONS 44
7.3 11 TO 18 TONS 44
7.4 19 TO 26 TONS 44
7.5 ABOVE 26 TONS 44
8 U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET, BY SYSTEMS TYPE 45
8.1 OVERVIEW 46
8.2 HEAT PUMP SYSTEMS 47
8.3 HEAT RECOVERY SYSTEMS 47
9 U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET, BY APPLICATION 48
9.1 OVERVIEW 49
9.2 COMMERCIAL SEGMENT 50
9.3 RESIDENTIAL 50
9.4 OTHERS 50
10 U.S. VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS MARKET, COMPANY LANDSCAPE 51
10.1 COMPANY SHARE ANALYSIS: U.S. 51
11 SWOT ANALYSIS 52
12 COMPANY PROFILE 53
12.1 SAMSUNG HVAC, LLC (A SUBSIDIARY OF SAMSUNG ELECTRONICS) 53
12.1.1 COMPANY SNAPSHOT 53
12.1.2 REVENUE ANALYSIS 53
12.1.3 PRODUCT PORTFOLIO 54
12.1.4 RECENT DEVELOPMENTS 54
12.2 DAIKIN INDUSTRIES, LTD. 56
12.2.1 COMPANY SNAPSHOT 56
12.2.2 REVENUE ANALYSIS 56
12.2.3 PRODUCT PORTFOLIO 57
12.2.4 RECENT DEVELOPMENTS 57
12.3 PANASONIC HOLDINGS CORPORATION 60
12.3.1 COMPANY SNAPSHOT 60
12.3.2 REVENUE ANALYSIS 60
12.3.3 PRODUCT PORTFOLIO 61
12.3.4 RECENT DEVELOPMENTS 61
12.4 MITSUBISHI ELECTRIC CORPORATION 63
12.4.1 COMPANY SNAPSHOT 63
12.4.2 REVENUE ANALYSIS 63
12.4.3 PRODUCT PORTFOLIO 64
12.4.4 RECENT DEVELOPMENTS 64
12.5 LG ELECTRONICS 66
12.5.1 COMPANY SNAPSHOT 66
12.5.2 REVENUE ANALYSIS 66
12.5.3 PRODUCT PORTFOLIO 67
12.5.4 RECENT DEVELOPMENTS 67
12.6 FUJITSU GENERAL 69
12.6.1 COMPANY SNAPSHOT 69
12.6.2 REVENUE ANALYSIS 69
12.6.3 PRODUCT PORTFOLIO 70
12.6.4 RECENT DEVELOPMENTS 70
12.7 INGERSOLL RAND 71
12.7.1 COMPANY SNAPSHOT 71
12.7.2 REVENUE ANALYSIS 71
12.7.3 PRODUCT PORTFOLIO 72
12.7.4 RECENT DEVELOPMENTS 72
12.8 JOHNSON CONTROLS INC. 74
12.8.1 COMPANY SNAPSHOT 74
12.8.2 REVENUE ANALYSIS 74
12.8.3 PRODUCT PORTFOLIO 75
12.8.4 RECENT DEVELOPMENTS 76
12.9 LENNOX INTERNATIONAL INC 78
12.9.1 COMPANY SNAPSHOT 78
12.9.2 REVENUE ANALYSIS 79
12.9.3 PRODUCT PORTFOLIO 79
12.9.4 RECENT DEVELOPMENTS 80
12.10 MIDEA 82
12.10.1 COMPANY SNAPSHOT 82
12.10.2 REVENUE ANALYSIS 82
12.10.3 PRODUCT PORTFOLIO 83
12.10.4 RECENT DEVELOPMENTS 83
13 QUESTIONNAIRE 86
14 RELATED REPORTS 88
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