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Global Variable Refrigerant Flow (VRF) System Market Research Report 2025
Synopsis
The global Variable Refrigerant Flow (VRF) System market was valued at US$ 15620 million in 2023 and is anticipated to reach US$ 30220 million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
North American market for Variable Refrigerant Flow (VRF) System is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
Asia-Pacific market for Variable Refrigerant Flow (VRF) System is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
The major global manufacturers of Variable Refrigerant Flow (VRF) System include Daikin Industries, Johnson Controls, LG Electronics, Toshiba, Fujitsu Group, Mitsubishi Electric, Midea Group, United Technologies and Ingersoll Rand, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.
This report aims to provide a comprehensive presentation of the global market for Variable Refrigerant Flow (VRF) System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Variable Refrigerant Flow (VRF) System.
Report Scope
The Variable Refrigerant Flow (VRF) System market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Variable Refrigerant Flow (VRF) System market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Variable Refrigerant Flow (VRF) System manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Daikin Industries
Johnson Controls
LG Electronics
Toshiba
Fujitsu Group
Mitsubishi Electric
Midea Group
United Technologies
Ingersoll Rand
Lennox International
Panasonic
Samsung Electronics
Gree
Carrier
Segment by Type
Heat Pump Systems
Heat Recovery Systems
Segment by Application
Commercial
Residential
Others
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Variable Refrigerant Flow (VRF) System manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Variable Refrigerant Flow (VRF) System by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Variable Refrigerant Flow (VRF) System in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
The global Variable Refrigerant Flow (VRF) System market was valued at US$ 15620 million in 2023 and is anticipated to reach US$ 30220 million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
North American market for Variable Refrigerant Flow (VRF) System is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
Asia-Pacific market for Variable Refrigerant Flow (VRF) System is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
The major global manufacturers of Variable Refrigerant Flow (VRF) System include Daikin Industries, Johnson Controls, LG Electronics, Toshiba, Fujitsu Group, Mitsubishi Electric, Midea Group, United Technologies and Ingersoll Rand, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.
This report aims to provide a comprehensive presentation of the global market for Variable Refrigerant Flow (VRF) System, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Variable Refrigerant Flow (VRF) System.
Report Scope
The Variable Refrigerant Flow (VRF) System market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Variable Refrigerant Flow (VRF) System market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Variable Refrigerant Flow (VRF) System manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Daikin Industries
Johnson Controls
LG Electronics
Toshiba
Fujitsu Group
Mitsubishi Electric
Midea Group
United Technologies
Ingersoll Rand
Lennox International
Panasonic
Samsung Electronics
Gree
Carrier
Segment by Type
Heat Pump Systems
Heat Recovery Systems
Segment by Application
Commercial
Residential
Others
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Variable Refrigerant Flow (VRF) System manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Variable Refrigerant Flow (VRF) System by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Variable Refrigerant Flow (VRF) System in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
Index1 Variable Refrigerant Flow (VRF) System Market Overview
1.1 Product Definition
1.2 Variable Refrigerant Flow (VRF) System Segment by Type
1.2.1 Global Variable Refrigerant Flow (VRF) System Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Heat Pump Systems
1.2.3 Heat Recovery Systems
1.3 Variable Refrigerant Flow (VRF) System Segment by Application
1.3.1 Global Variable Refrigerant Flow (VRF) System Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Commercial
1.3.3 Residential
1.3.4 Others
1.4 Global Market Growth Prospects
1.4.1 Global Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Variable Refrigerant Flow (VRF) System Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Variable Refrigerant Flow (VRF) System Production Estimates and Forecasts (2019-2030)
1.4.4 Global Variable Refrigerant Flow (VRF) System Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Variable Refrigerant Flow (VRF) System Production Market Share by Manufacturers (2019-2024)
2.2 Global Variable Refrigerant Flow (VRF) System Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Variable Refrigerant Flow (VRF) System, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Variable Refrigerant Flow (VRF) System Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Variable Refrigerant Flow (VRF) System Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Variable Refrigerant Flow (VRF) System, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Variable Refrigerant Flow (VRF) System, Product Offered and Application
2.8 Global Key Manufacturers of Variable Refrigerant Flow (VRF) System, Date of Enter into This Industry
2.9 Variable Refrigerant Flow (VRF) System Market Competitive Situation and Trends
2.9.1 Variable Refrigerant Flow (VRF) System Market Concentration Rate
2.9.2 Global 5 and 10 Largest Variable Refrigerant Flow (VRF) System Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Variable Refrigerant Flow (VRF) System Production by Region
3.1 Global Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Variable Refrigerant Flow (VRF) System Production Value by Region (2019-2030)
3.2.1 Global Variable Refrigerant Flow (VRF) System Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Variable Refrigerant Flow (VRF) System by Region (2025-2030)
3.3 Global Variable Refrigerant Flow (VRF) System Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Variable Refrigerant Flow (VRF) System Production by Region (2019-2030)
3.4.1 Global Variable Refrigerant Flow (VRF) System Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Variable Refrigerant Flow (VRF) System by Region (2025-2030)
3.5 Global Variable Refrigerant Flow (VRF) System Market Price Analysis by Region (2019-2024)
3.6 Global Variable Refrigerant Flow (VRF) System Production and Value, Year-over-Year Growth
3.6.1 North America Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Variable Refrigerant Flow (VRF) System Production Value Estimates and Forecasts (2019-2030)
4 Variable Refrigerant Flow (VRF) System Consumption by Region
4.1 Global Variable Refrigerant Flow (VRF) System Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Variable Refrigerant Flow (VRF) System Consumption by Region (2019-2030)
4.2.1 Global Variable Refrigerant Flow (VRF) System Consumption by Region (2019-2024)
4.2.2 Global Variable Refrigerant Flow (VRF) System Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Variable Refrigerant Flow (VRF) System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Variable Refrigerant Flow (VRF) System Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Variable Refrigerant Flow (VRF) System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Variable Refrigerant Flow (VRF) System Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Variable Refrigerant Flow (VRF) System Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Variable Refrigerant Flow (VRF) System Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Variable Refrigerant Flow (VRF) System Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Variable Refrigerant Flow (VRF) System Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Variable Refrigerant Flow (VRF) System Production by Type (2019-2030)
5.1.1 Global Variable Refrigerant Flow (VRF) System Production by Type (2019-2024)
5.1.2 Global Variable Refrigerant Flow (VRF) System Production by Type (2025-2030)
5.1.3 Global Variable Refrigerant Flow (VRF) System Production Market Share by Type (2019-2030)
5.2 Global Variable Refrigerant Flow (VRF) System Production Value by Type (2019-2030)
5.2.1 Global Variable Refrigerant Flow (VRF) System Production Value by Type (2019-2024)
5.2.2 Global Variable Refrigerant Flow (VRF) System Production Value by Type (2025-2030)
5.2.3 Global Variable Refrigerant Flow (VRF) System Production Value Market Share by Type (2019-2030)
5.3 Global Variable Refrigerant Flow (VRF) System Price by Type (2019-2030)
6 Segment by Application
6.1 Global Variable Refrigerant Flow (VRF) System Production by Application (2019-2030)
6.1.1 Global Variable Refrigerant Flow (VRF) System Production by Application (2019-2024)
6.1.2 Global Variable Refrigerant Flow (VRF) System Production by Application (2025-2030)
6.1.3 Global Variable Refrigerant Flow (VRF) System Production Market Share by Application (2019-2030)
6.2 Global Variable Refrigerant Flow (VRF) System Production Value by Application (2019-2030)
6.2.1 Global Variable Refrigerant Flow (VRF) System Production Value by Application (2019-2024)
6.2.2 Global Variable Refrigerant Flow (VRF) System Production Value by Application (2025-2030)
6.2.3 Global Variable Refrigerant Flow (VRF) System Production Value Market Share by Application (2019-2030)
6.3 Global Variable Refrigerant Flow (VRF) System Price by Application (2019-2030)
7 Key Companies Profiled
7.1 Daikin Industries
7.1.1 Daikin Industries Variable Refrigerant Flow (VRF) System Corporation Information
7.1.2 Daikin Industries Variable Refrigerant Flow (VRF) System Product Portfolio
7.1.3 Daikin Industries Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.1.4 Daikin Industries Main Business and Markets Served
7.1.5 Daikin Industries Recent Developments/Updates
7.2 Johnson Controls
7.2.1 Johnson Controls Variable Refrigerant Flow (VRF) System Corporation Information
7.2.2 Johnson Controls Variable Refrigerant Flow (VRF) System Product Portfolio
7.2.3 Johnson Controls Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.2.4 Johnson Controls Main Business and Markets Served
7.2.5 Johnson Controls Recent Developments/Updates
7.3 LG Electronics
7.3.1 LG Electronics Variable Refrigerant Flow (VRF) System Corporation Information
7.3.2 LG Electronics Variable Refrigerant Flow (VRF) System Product Portfolio
7.3.3 LG Electronics Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.3.4 LG Electronics Main Business and Markets Served
7.3.5 LG Electronics Recent Developments/Updates
7.4 Toshiba
7.4.1 Toshiba Variable Refrigerant Flow (VRF) System Corporation Information
7.4.2 Toshiba Variable Refrigerant Flow (VRF) System Product Portfolio
7.4.3 Toshiba Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.4.4 Toshiba Main Business and Markets Served
7.4.5 Toshiba Recent Developments/Updates
7.5 Fujitsu Group
7.5.1 Fujitsu Group Variable Refrigerant Flow (VRF) System Corporation Information
7.5.2 Fujitsu Group Variable Refrigerant Flow (VRF) System Product Portfolio
7.5.3 Fujitsu Group Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.5.4 Fujitsu Group Main Business and Markets Served
7.5.5 Fujitsu Group Recent Developments/Updates
7.6 Mitsubishi Electric
7.6.1 Mitsubishi Electric Variable Refrigerant Flow (VRF) System Corporation Information
7.6.2 Mitsubishi Electric Variable Refrigerant Flow (VRF) System Product Portfolio
7.6.3 Mitsubishi Electric Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.6.4 Mitsubishi Electric Main Business and Markets Served
7.6.5 Mitsubishi Electric Recent Developments/Updates
7.7 Midea Group
7.7.1 Midea Group Variable Refrigerant Flow (VRF) System Corporation Information
7.7.2 Midea Group Variable Refrigerant Flow (VRF) System Product Portfolio
7.7.3 Midea Group Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.7.4 Midea Group Main Business and Markets Served
7.7.5 Midea Group Recent Developments/Updates
7.8 United Technologies
7.8.1 United Technologies Variable Refrigerant Flow (VRF) System Corporation Information
7.8.2 United Technologies Variable Refrigerant Flow (VRF) System Product Portfolio
7.8.3 United Technologies Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.8.4 United Technologies Main Business and Markets Served
7.7.5 United Technologies Recent Developments/Updates
7.9 Ingersoll Rand
7.9.1 Ingersoll Rand Variable Refrigerant Flow (VRF) System Corporation Information
7.9.2 Ingersoll Rand Variable Refrigerant Flow (VRF) System Product Portfolio
7.9.3 Ingersoll Rand Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.9.4 Ingersoll Rand Main Business and Markets Served
7.9.5 Ingersoll Rand Recent Developments/Updates
7.10 Lennox International
7.10.1 Lennox International Variable Refrigerant Flow (VRF) System Corporation Information
7.10.2 Lennox International Variable Refrigerant Flow (VRF) System Product Portfolio
7.10.3 Lennox International Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.10.4 Lennox International Main Business and Markets Served
7.10.5 Lennox International Recent Developments/Updates
7.11 Panasonic
7.11.1 Panasonic Variable Refrigerant Flow (VRF) System Corporation Information
7.11.2 Panasonic Variable Refrigerant Flow (VRF) System Product Portfolio
7.11.3 Panasonic Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.11.4 Panasonic Main Business and Markets Served
7.11.5 Panasonic Recent Developments/Updates
7.12 Samsung Electronics
7.12.1 Samsung Electronics Variable Refrigerant Flow (VRF) System Corporation Information
7.12.2 Samsung Electronics Variable Refrigerant Flow (VRF) System Product Portfolio
7.12.3 Samsung Electronics Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.12.4 Samsung Electronics Main Business and Markets Served
7.12.5 Samsung Electronics Recent Developments/Updates
7.13 Gree
7.13.1 Gree Variable Refrigerant Flow (VRF) System Corporation Information
7.13.2 Gree Variable Refrigerant Flow (VRF) System Product Portfolio
7.13.3 Gree Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.13.4 Gree Main Business and Markets Served
7.13.5 Gree Recent Developments/Updates
7.14 Carrier
7.14.1 Carrier Variable Refrigerant Flow (VRF) System Corporation Information
7.14.2 Carrier Variable Refrigerant Flow (VRF) System Product Portfolio
7.14.3 Carrier Variable Refrigerant Flow (VRF) System Production, Value, Price and Gross Margin (2019-2024)
7.14.4 Carrier Main Business and Markets Served
7.14.5 Carrier Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Variable Refrigerant Flow (VRF) System Industry Chain Analysis
8.2 Variable Refrigerant Flow (VRF) System Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Variable Refrigerant Flow (VRF) System Production Mode & Process
8.4 Variable Refrigerant Flow (VRF) System Sales and Marketing
8.4.1 Variable Refrigerant Flow (VRF) System Sales Channels
8.4.2 Variable Refrigerant Flow (VRF) System Distributors
8.5 Variable Refrigerant Flow (VRF) System Customers
9 Variable Refrigerant Flow (VRF) System Market Dynamics
9.1 Variable Refrigerant Flow (VRF) System Industry Trends
9.2 Variable Refrigerant Flow (VRF) System Market Drivers
9.3 Variable Refrigerant Flow (VRF) System Market Challenges
9.4 Variable Refrigerant Flow (VRF) System Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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