Product Code: GVR-4-68040-372-8
Market Size & Trends
The global variable refrigerant flow system market size was estimated at USD 17.87 billion in 2023 and is anticipated to grow at a CAGR of 11.0% from 2024 to 2030. The market is primarily driven by several key factors, making it a popular choice for modern heating, ventilation, and air conditioning (HVAC) solutions. The increasing demand for energy-efficient heating and cooling systems is a major market driver. VRF technology is known for its ability to precisely control the amount of refrigerant flowing to multiple indoor units, optimizing the energy consumption based on the actual needs of each zone or room. This capability reduces energy waste and leads to significant cost savings over time, making variable refrigerant flow (VRF) systems beautiful to environmentally conscious and cost-aware customers.
According to the United Nations by 2050, the world's population will surge to 9.7 billion, marking an increase of 2 billion over the next three decades. This significant growth is driven by higher living standards, longer life expectancies, lower mortality rates, and continuous advancements in medical technologies and treatments. Consequently, there is a global push to launch new housing initiatives to accommodate this increase. This trend is anticipated to drive market expansion positively. The demand for energy-efficient solutions, such as heat pumps, is set to rise in the residential sector, fueled by rapid urbanization and the growing need for such products. Additionally, government policies and tax incentives promoting energy-saving appliances likely to boost demand for these products.
Global Variable Refrigerant Flow System Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global variable refrigerant flow system market based on the system type, capacity, end use, and region:
- System Type Outlook (Revenue, USD Million, 2018 -2030)
- Heat Pump
- Heat Recovery System
- Capacity Outlook (Revenue, USD Million, 2018 - 2030)
- Up to 10 Tons
- 11 to 18 Tons
- 19 to 26 Tons
- Above 26 Tons
- End use Outlook (Revenue, USD Million, 2018 - 2030)
- Commercial
- Residential
- Industrial
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Japan
China
India
Australia
South Korea
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR's Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Third Party Perspective
- 1.4.5. Information Analysis
- 1.5. Information Analysis
- 1.5.1. Data Analysis Models
- 1.5.2. Market Formulation & Data Visualization
- 1.5.3. Data Validation & Publishing
- 1.6. Research Scope and Assumptions
- 1.6.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Variable Refrigerant Flow System Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Concentration & Penetration Outlook
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Drivers Analysis
- 3.6.2. Market Restraints Analysis
- 3.6.3. Market Opportunity Analysis
- 3.6.4. Market Challenge Analysis
- 3.7. Variable Refrigerant Flow System Market Analysis Tools
- 3.7.1. Porter's Analysis
- 3.7.1.1. Bargaining power of the suppliers
- 3.7.1.2. Bargaining power of the buyers
- 3.7.1.3. Threats of substitution
- 3.7.1.4. Threats from new entrants
- 3.7.1.5. Competitive rivalry
- 3.7.2. PESTEL Analysis
- 3.7.2.1. Political landscape
- 3.7.2.2. Economic and Social landscape
- 3.7.2.3. Technological landscape
- 3.7.2.4. Environmental landscape
- 3.7.2.5. Legal landscape
- 3.8. Economic Mega Trend Analysis
Chapter 4. Variable Refrigerant Flow System Market: System Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Variable Refrigerant Flow System Market: System Type Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Heat Pump
- 4.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Heat Recovery System
- 4.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Variable Refrigerant Flow System Market: Capacity Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Variable Refrigerant Flow System Market: capacity Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. Up to 10 Tons
- 5.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. 11 to 18 Tons
- 5.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. 19 to 26 Tons
- 5.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Above 26 Tons
- 5.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Variable Refrigerant Flow System Market: End use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Variable Refrigerant Flow System Market: End use Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Commercial
- 6.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Residential
- 6.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Industrial
- 6.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Variable Refrigerant Flow System Market: Region Estimates & Trend Analysis
- 7.1. Variable Refrigerant Flow System Market Share, By Region, 2023 & 2030 (USD Million)
- 7.2. North America
- 7.2.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.2.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.2.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.2.5. U.S.
- 7.2.5.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.5.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.2.5.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.2.5.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.2.6. Canada
- 7.2.6.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.6.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.2.6.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.2.6.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.2.7. Mexico
- 7.2.7.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.7.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.2.7.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.2.7.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.4. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.5. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3.7. UK
- 7.3.7.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.7.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.7.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.7.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3.8. Germany
- 7.3.8.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.8.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.8.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.8.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3.9. France
- 7.3.9.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.9.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.9.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.9.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3.10. Italy
- 7.3.10.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.10.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.10.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.10.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.3.11. Spain
- 7.3.11.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.11.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.3.11.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.3.11.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.4. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.5. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4.6. China
- 7.4.6.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.6.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.6.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4.7. India
- 7.4.7.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.7.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.7.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.7.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4.8. Japan
- 7.4.8.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.8.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.8.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.8.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4.9. South Korea
- 7.4.9.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.9.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.9.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.9.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.4.10. Australia
- 7.4.10.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.10.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.4.10.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.4.10.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.5.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.5.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.5.5. Brazil
- 7.5.5.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.5.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.5.5.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.5.5.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.5.6. Argentina
- 7.5.6.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.6.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.5.6.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.5.6.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.6.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.6.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.6.5. South Africa
- 7.6.5.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.5.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.6.5.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.6.5.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.6.6. Saudi Arabia
- 7.6.6.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.6.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.6.6.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.6.6.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
- 7.6.7. UAE
- 7.6.7.1. Variable Refrigerant Flow System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.7.2. Variable Refrigerant Flow System Market Estimates and Forecasts by system type, 2018 - 2030 (USD Million)
- 7.6.7.3. Variable Refrigerant Flow System Market Estimates and Forecasts by capacity, 2018 - 2030 (USD Million)
- 7.6.7.4. Variable Refrigerant Flow System Market Estimates and Forecasts by End use, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis, 2023
- 8.5. Company Heat Map Analysis, 2023
- 8.6. Strategy Mapping
- 8.7. Company Profiles
- 8.7.1. Carrier Corporation
- 8.7.1.1. Participant's Overview
- 8.7.1.2. Financial Performance
- 8.7.1.3. Product Benchmarking
- 8.7.1.4. Strategic Initiatives
- 8.7.2. Daikin Industries, Ltd.
- 8.7.2.1. Participant's Overview
- 8.7.2.2. Financial Performance
- 8.7.2.3. Product Benchmarking
- 8.7.2.4. Strategic Initiatives
- 8.7.3. Fujitsu
- 8.7.3.1. Participant's Overview
- 8.7.3.2. Financial Performance
- 8.7.3.3. Product Benchmarking
- 8.7.3.4. Strategic Initiatives
- 8.7.4. Haier Group
- 8.7.4.1. Participant's Overview
- 8.7.4.2. Financial Performance
- 8.7.4.3. Product Benchmarking
- 8.7.4.4. Strategic Initiatives
- 8.7.5. Blue Star Limited.
- 8.7.5.1. Participant's Overview
- 8.7.5.2. Financial Performance
- 8.7.5.3. Product Benchmarking
- 8.7.5.4. Strategic Initiatives
- 8.7.6. Hitachi Ltd.
- 8.7.6.1. Participant's Overview
- 8.7.6.2. Financial Performance
- 8.7.6.3. Product Benchmarking
- 8.7.6.4. Strategic Initiatives
- 8.7.7. Johnson Controls
- 8.7.7.1. Participant's Overview
- 8.7.7.2. Financial Performance
- 8.7.7.3. Product Benchmarking
- 8.7.7.4. Strategic Initiatives
- 8.7.8. LG Electronics
- 8.7.8.1. Participant's Overview
- 8.7.8.2. Financial Performance
- 8.7.8.3. Product Benchmarking
- 8.7.8.4. Strategic Initiatives
- 8.7.9. Trane
- 8.7.9.1. Participant's Overview
- 8.7.9.2. Financial Performance
- 8.7.9.3. Product Benchmarking
- 8.7.9.4. Strategic Initiatives
- 8.7.10. Mitsubishi Electric Corporation
- 8.7.10.1. Participant's Overview
- 8.7.10.2. Financial Performance
- 8.7.10.3. Product Benchmarking
- 8.7.10.4. Strategic Initiatives
- 8.7.11. Rheem Manufacturing Company
- 8.7.11.1. Participant's Overview
- 8.7.11.2. Financial Performance
- 8.7.11.3. Product Benchmarking
- 8.7.11.4. Strategic Initiatives
- 8.7.12. SAMSUNG
- 8.7.12.1. Participant's Overview
- 8.7.12.2. Financial Performance
- 8.7.12.3. Product Benchmarking
- 8.7.12.4. Strategic Initiatives