VRF Heat Pump Market By Manufacturers, By System Type (Heat Pump Systems, Heat Recovery Systems), By Component (Outdoor Units, Indoor Units, Installation Services), By Application (Residential, Commercial, Rail & Air Transportation), and By Regions (North America, Europe, Middle East and Africa, Latin America and Asia Pacific) - Global Outlook to 2026
Report ID: 391273 | Feb 2020 | No. of Pages: 120
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Covid-19 Impact Analysis & Forecast
Global VRF Heat Pump Market is valued USD 10.04 Billion in 20110 and is projected is to exhibit 12.5% CAGR during the forecast period. The market is projected to be around USD 14.30 Billion by 2026. The market is driven by the growing construction industry and developing energy management activities.
A variable refrigerant flow (VRF) system comprises a multi-split refrigerant solution that includes multiple indoor evaporators connected to a single condensing unit. These systems serve a larger capacity and accordingly control the refrigerant flow, thereby increasing energy efficiency. These systems are mainly applicable in the commercial sector such as buildings, educational institutions, healthcare facilities, hotels, and restaurants.
VRF Heat Pump Market Dynamics
The growth in the market can be attributed to the rising demand for energy-efficient and cost-effective heating, ventilation, and air conditioning (HVAC) systems. Furthermore, the growing construction industry and developing energy management activities are the key factors bolstering the growth of the VRF systems market. Major companies in the market are focusing on providing eco-friendly refrigerants for these systems, and consumers in developed economies are frequently adopting VRF technology.
Additionally, the increase in demand for energy-efficient resources, along with awareness for environmental impact, and a surge in construction activities will help to drive the growth of the VRF heat pump market. At the same time, the high cost of investment, and lack of awareness about the benefits of VRF heat pump market hamper the market growth.
VRF Heat Pump Market Insight
Based on the region, Asia Pacific is expected to dominate the VRF Heat Pump market due to growth in construction activity in the APAC region coupled with the increasing demand for smart devices to handle VRF systems and increasing urbanization and population in APAC has led to a growing demand to implement heat pump VRF systems in this region. The Asia Pacific is expected to maintain its dominance in the market during the forecast period on account of the presence of variable refrigerant volume system manufacturers in countries such as South Korea and Japan.
VRF Heat Pump Market Segmentation
The global VRF Heat Pump Market is segmented into system type, application, component, and region. On the basis of the system type the market is divided into heat pump systems, heat recovery systems. Based on application the market is segmented into commercial, residential, others. According to component the market is divided into outdoor units, indoor units, control systems, and accessories. And based on the geography the market is further segregated into North America, Latin America, Europe, and Asia Pacific.
VRF Heat Pump Market Competitive Landscape
The key players in VRF Heat Pump Market are listed as Daikin Industries, Mitsubishi Electric, Hitachi, Midea Group, United Technologies, Samsung Electronics, Panasonic, Lennox International, Ingersoll Rand, Fujitsu General, LG Electronics, Carrier, Gree, Johnson Controls, Toshiba, PETRA Engineering Industries Co., Voltas, Reznor, and Other.
A variable refrigerant flow (VRF) system comprises a multi-split refrigerant solution that includes multiple indoor evaporators connected to a single condensing unit. These systems serve a larger capacity and accordingly control the refrigerant flow, thereby increasing energy efficiency. These systems are mainly applicable in the commercial sector such as buildings, educational institutions, healthcare facilities, hotels, and restaurants.
VRF Heat Pump Market Dynamics
The growth in the market can be attributed to the rising demand for energy-efficient and cost-effective heating, ventilation, and air conditioning (HVAC) systems. Furthermore, the growing construction industry and developing energy management activities are the key factors bolstering the growth of the VRF systems market. Major companies in the market are focusing on providing eco-friendly refrigerants for these systems, and consumers in developed economies are frequently adopting VRF technology.
Additionally, the increase in demand for energy-efficient resources, along with awareness for environmental impact, and a surge in construction activities will help to drive the growth of the VRF heat pump market. At the same time, the high cost of investment, and lack of awareness about the benefits of VRF heat pump market hamper the market growth.
VRF Heat Pump Market Insight
Based on the region, Asia Pacific is expected to dominate the VRF Heat Pump market due to growth in construction activity in the APAC region coupled with the increasing demand for smart devices to handle VRF systems and increasing urbanization and population in APAC has led to a growing demand to implement heat pump VRF systems in this region. The Asia Pacific is expected to maintain its dominance in the market during the forecast period on account of the presence of variable refrigerant volume system manufacturers in countries such as South Korea and Japan.
VRF Heat Pump Market Segmentation
The global VRF Heat Pump Market is segmented into system type, application, component, and region. On the basis of the system type the market is divided into heat pump systems, heat recovery systems. Based on application the market is segmented into commercial, residential, others. According to component the market is divided into outdoor units, indoor units, control systems, and accessories. And based on the geography the market is further segregated into North America, Latin America, Europe, and Asia Pacific.
VRF Heat Pump Market Competitive Landscape
The key players in VRF Heat Pump Market are listed as Daikin Industries, Mitsubishi Electric, Hitachi, Midea Group, United Technologies, Samsung Electronics, Panasonic, Lennox International, Ingersoll Rand, Fujitsu General, LG Electronics, Carrier, Gree, Johnson Controls, Toshiba, PETRA Engineering Industries Co., Voltas, Reznor, and Other.
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. DefinitionChapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & LimitationsChapter 3. Executive SummaryChapter 4. Market Outlook
4.1. Market Dynamics
4.1.1. Market Drivers
4.1.2. Market Restraints
4.1.3. Market Opportunities
4.2. Porter’s Analysis
4.3. Value Chain AnalysisChapter 5. VRF Heat Pump Market, By System Type
5.1. VRF Heat Pump Market, By System Type, 2018-2026
5.2. Heat Pump Systems
5.3. Heat Recovery SystemsChapter 6. VRF Heat Pump Market, By Application
6.1. VRF Heat Pump Market, by Application, 2018-2026
6.2. Commercial
6.3. Residential
6.4. OthersChapter 7. VRF Heat Pump Market, By Component
7.1. VRF Heat Pump Market, by Component, 2018-2026
7.2. Outdoor Units
7.3. Indoor Units
7.4. Control Systems and AccessoriesChapter 8. VRF Heat Pump Market, By Region
8.1. VRF Heat Pump Market, by Region, 2018-2026
8.1.1. North America
8.1.1.1. U.S
8.1.1.2. Rest of North America
8.1.2. Europe
8.1.2.1. U.K.
8.1.2.2. Germany
8.1.2.3. France
8.1.2.4. Rest of the Europe
8.1.3. Middle East & Africa (MEA)
8.1.3.1. GCC
8.1.3.2. North Africa
8.1.3.3. South Africa
8.1.3.4. Rest of MEA
8.1.4. Latin America (LATAM)
8.1.4.1. Brazil
8.1.4.2. Rest of LATAM
8.1.5. Asia Pacific (APAC)
8.1.5.1. India
8.1.5.2. China
8.1.5.3. Japan
8.1.5.4. Rest of the APACChapter 9. Competitive Landscape
9.1.1. Key Strategies Adopted by Players
9.1.2. Market Share/Positioning AnalysisChapter 10. Company Profiles10.1. Daikin Industries
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives10.2. Mitsubishi Electric
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives10.3. Hitachi
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives10.4. Midea Group
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives10.5 United Technologies
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives10.6. Samsung Electronics
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives10.7. Panasonic
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives10.8. Lennox International
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives10.9. Ingersoll Rand
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives10.10. Fujitsu General
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives10.11. LG Electronics
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives10.12. Carrier
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives10.13. Gree
10.13.1. Company Overview
10.13.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives10.14. Johnson Controls
10.14.1. Company Overview
10.14.2. Product Offerings
10.14.3. Financial Performance
10.14.4. Recent Initiatives10.15 Toshiba
10.15.1. Company Overview
10.15.2. Product Offerings
10.15.3. Financial Performance
10.15.4. Recent Initiatives10.16. PETRA Engineering Industries Co.
10.16.1. Company Overview
10.16.2. Product Offerings
10.16.3. Financial Performance
10.16.4. Recent Initiatives10.17. Voltas
10.17.1. Company Overview
10.17.2. Product Offerings
10.17.3. Financial Performance
10.17.4. Recent Initiatives10.18. Reznor
10.18.1. Company Overview
10.18.2. Product Offerings
10.18.3. Financial Performance
10.18.4. Recent Initiatives10.19. List of other companies
10.19.1. Company Overview
10.19.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent InitiativesChapter 11. Appendix
11.1. About Us
11.2. Glossary of Terms
1.1. Research Objective
1.2. Scope of the Study
1.3. DefinitionChapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & LimitationsChapter 3. Executive SummaryChapter 4. Market Outlook
4.1. Market Dynamics
4.1.1. Market Drivers
4.1.2. Market Restraints
4.1.3. Market Opportunities
4.2. Porter’s Analysis
4.3. Value Chain AnalysisChapter 5. VRF Heat Pump Market, By System Type
5.1. VRF Heat Pump Market, By System Type, 2018-2026
5.2. Heat Pump Systems
5.3. Heat Recovery SystemsChapter 6. VRF Heat Pump Market, By Application
6.1. VRF Heat Pump Market, by Application, 2018-2026
6.2. Commercial
6.3. Residential
6.4. OthersChapter 7. VRF Heat Pump Market, By Component
7.1. VRF Heat Pump Market, by Component, 2018-2026
7.2. Outdoor Units
7.3. Indoor Units
7.4. Control Systems and AccessoriesChapter 8. VRF Heat Pump Market, By Region
8.1. VRF Heat Pump Market, by Region, 2018-2026
8.1.1. North America
8.1.1.1. U.S
8.1.1.2. Rest of North America
8.1.2. Europe
8.1.2.1. U.K.
8.1.2.2. Germany
8.1.2.3. France
8.1.2.4. Rest of the Europe
8.1.3. Middle East & Africa (MEA)
8.1.3.1. GCC
8.1.3.2. North Africa
8.1.3.3. South Africa
8.1.3.4. Rest of MEA
8.1.4. Latin America (LATAM)
8.1.4.1. Brazil
8.1.4.2. Rest of LATAM
8.1.5. Asia Pacific (APAC)
8.1.5.1. India
8.1.5.2. China
8.1.5.3. Japan
8.1.5.4. Rest of the APACChapter 9. Competitive Landscape
9.1.1. Key Strategies Adopted by Players
9.1.2. Market Share/Positioning AnalysisChapter 10. Company Profiles10.1. Daikin Industries
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives10.2. Mitsubishi Electric
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives10.3. Hitachi
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives10.4. Midea Group
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives10.5 United Technologies
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives10.6. Samsung Electronics
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives10.7. Panasonic
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives10.8. Lennox International
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives10.9. Ingersoll Rand
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives10.10. Fujitsu General
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives10.11. LG Electronics
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives10.12. Carrier
10.12.1. Company Overview
10.12.2. Product Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives10.13. Gree
10.13.1. Company Overview
10.13.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives10.14. Johnson Controls
10.14.1. Company Overview
10.14.2. Product Offerings
10.14.3. Financial Performance
10.14.4. Recent Initiatives10.15 Toshiba
10.15.1. Company Overview
10.15.2. Product Offerings
10.15.3. Financial Performance
10.15.4. Recent Initiatives10.16. PETRA Engineering Industries Co.
10.16.1. Company Overview
10.16.2. Product Offerings
10.16.3. Financial Performance
10.16.4. Recent Initiatives10.17. Voltas
10.17.1. Company Overview
10.17.2. Product Offerings
10.17.3. Financial Performance
10.17.4. Recent Initiatives10.18. Reznor
10.18.1. Company Overview
10.18.2. Product Offerings
10.18.3. Financial Performance
10.18.4. Recent Initiatives10.19. List of other companies
10.19.1. Company Overview
10.19.2. Product Offerings
10.13.3. Financial Performance
10.13.4. Recent InitiativesChapter 11. Appendix
11.1. About Us
11.2. Glossary of Terms
Daikin Industries
Mitsubishi Electric
Hitachi
Midea Group
United Technologies
Samsung Electronics
Panasonic
Lennox International
Ingersoll Rand
Fujitsu General
LG Electronics
Carrier
Gree
Johnson Controls
Toshiba
PETRA Engineering Industries Co.
Voltas
Reznor
Other
Mitsubishi Electric
Hitachi
Midea Group
United Technologies
Samsung Electronics
Panasonic
Lennox International
Ingersoll Rand
Fujitsu General
LG Electronics
Carrier
Gree
Johnson Controls
Toshiba
PETRA Engineering Industries Co.
Voltas
Reznor
Other
1. This report provides in depth analysis for changing competitive dynamics and keeps you ahead of competitors
2. Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
3. It provides a forward looking perspective on different factors driving or restraining market growth
4. It provides an eight-year forecast assessed on the basis of how the market is expected to grow
5. It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of various market segment
6. Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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