VRFシステム市場調査レポート情報 : 2032年までの予測

VRF Systems Market Research Report Information

VRF Systems Market Research Report Information By System Type (Heat Pump VRF (2 Pipe System) and Heat Recovery VRF (3 Pipe System)), By Component (Outdoor Units, Indoor Units, Control Systems, Accessories), And By End Use (Commercial, Residential, and Industrial) Industry Size, Share and Forecast Till 2032

商品番号 : SMB-79151

出版社Market Research Future
出版年月2025年5月
ページ数152
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

VRFシステム市場調査レポート情報 : システムタイプ(ヒートポンプVRF(2パイプシステム)および熱回収VRF(3パイプシステム)、コンポーネント別(室外機、室内機、制御システム、付属品)、および最終用途別(商業用、住宅用、および産業用)の業界規模、シェア、および 2032年までの予測

Overview of the Market

According to MRFR, the market for VRF systems has expanded dramatically in recent years. At a compound annual growth rate (CAGR) of 15.2% from 2024 to 2032, it is anticipated to reach USD 60,174.4 million.

MRFRによると、VRFシステム市場は近年飛躍的に拡大しており、2024年から2032年にかけて年平均成長率(CAGR)15.2%で成長し、601億7,440万米ドルに達すると予測されています。

Depending on the system’s requirements, variable refrigerant flow (VRF) systems alter the refrigerant flow to interior units. The refrigerant flow to a fan coil unit throughout the facility can be controlled and maintained by these systems. Heating pumps and heat recovery systems are the most widely used types of these systems, and their uses might vary based on the requirement for simultaneous heating and cooling. Due to their ability to save energy, offer design flexibility, and be installed at a reasonable cost, VRF systems are becoming more and more popular among both residential and commercial customers.

可変冷媒流量(VRF)システムは、システムの要件に応じて、室内機への冷媒流量を調整します。施設全体のファンコイルユニットへの冷媒流量は、これらのシステムによって制御・維持されます。これらのシステムの中で最も広く使用されているのはヒートポンプと熱回収システムであり、冷暖房の同時実行の必要性に応じて用途が異なります。VRFシステムは、エネルギーを節約し、設計の柔軟性が高く、設置コストも手頃であることから、住宅および商業施設の顧客の間でますます人気が高まっています。

The growing customer demand for energy-efficient products is the main factor propelling the VR systems market. These energy-efficient devices make use of a sophisticated variable-speed compressor that runs at a low temperature. Downtime is decreased by these systems’ reduced wear and tear and minor malfunctions. They help save over 40% on energy when compared to technology that uses variable air volume. The variable refrigerant flow system is perfect for use in commercial settings like hotels, supermarkets, and office buildings since it can replace the current equipment in confined locations with the least amount of piping. These systems’ quieter operation, cheaper running costs compared to traditional methods, and superior energy efficiency are expected to drive their adoption throughout the course of the forecast period.

Perspectives on Market Segments

  • The global market for VRF systems has been divided into two segments based on system type: Heat Recovery VRF (3 Pipe System) and Heat Pump VRF (2 Pipe System).
  • Outdoor units, indoor units, control systems, and accessories are all included in the market segmentation based on component.
  • The global VRF Systems market has been divided into three segments based on the End Use Vertical: Commercial, Residential, and Industrial.
  • Residential, Commercial, Rail & Air Transportation, and Others are the market segments based on application.

Regional Perspectives

North America, Europe, Asia-Pacific, and the Rest of the World are the regions for which the study offers market information. Asia-Pacific has the most market share. The growing demand for VRF systems from end users in the residential and commercial sectors is one of the factors driving the growth of the Asia-Pacific VRF Systems market. Other factors driving the market include growing urbanization, industrialization, and customer demand for high-tech products like wireless and linked ones.

At a CAGR, the North American region is anticipated to grow significantly. The increasing integration of connected technologies is driving market expansion. However, because of the growing use of VRF technology by commercial organizations for flexible designs and energy savings.

Key Players

Carrier Global Corporation, Mitsubishi Electric, Midea, Johnson Controls, FUJITSU GENERAL, Blue Star Limited, Voltas Limited, Hitachi Air Conditioning Company, GREE Commercial, SKM Air Conditioning, Trane Technologies, Samsung Electronics Co., and Lennox International Inc. are some of the major players in the VRF Systems market.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY ………………………………………………………………………………………………… 19

2 MARKET INTRODUCTION ……………………………………………………………………………………………… 23

2.1 DEFINITION ……………………………………………………………………………………………………………………………………………… 23

2.2 SCOPE OF THE STUDY ……………………………………………………………………………………………………………………………. 23

2.3 RESEARCH OBJECTIVE ………………………………………………………………………………………………………………………….. 23

2.4 MARKET STRUCTURE ……………………………………………………………………………………………………………………………. 24

3 RESEARCH METHODOLOGY ………………………………………………………………………………………… 25

3.1 OVERVIEW ……………………………………………………………………………………………………………………………………………….. 25

3.2 DATA FLOW ……………………………………………………………………………………………………………………………………………… 27

3.2.1 DATA MINING PROCESS ………………………………………………………………………………………………………………… 27

3.3 PURCHASED DATABASE: ……………………………………………………………………………………………………………………….. 28

3.4 SECONDARY SOURCES: ………………………………………………………………………………………………………………………….. 29

3.4.1 SECONDARY RESEARCH DATA FLOW: ………………………………………………………………………………………………. 30

3.5 PRIMARY RESEARCH: …………………………………………………………………………………………………………………………….. 31

3.5.1 PRIMARY RESEARCH DATA FLOW: ………………………………………………………………………………………………….. 32

3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ………………………………………………………………. 33

3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE …………………………………………………………………………………….. 33

3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ………………………………………………………………………………. 34

3.6.1 REVENUE ANALYSIS APPROACH ……………………………………………………………………………………………………… 34

3.7 DATA FORECASTING………………………………………………………………………………………………………………………………. 35

3.7.1 DATA FORECASTING TECHNIQUE …………………………………………………………………………………………………….. 35

3.8 DATA MODELING …………………………………………………………………………………………………………………………………….. 36

3.8.1 MICROECONOMIC FACTOR ANALYSIS: ……………………………………………………………………………………………… 36

3.8.2 DATA MODELING: …………………………………………………………………………………………………………………………. 37

3.9 TEAMS AND ANALYST CONTRIBUTION …………………………………………………………………………………………….. 39

4 MARKET DYNAMICS …………………………………………………………………………………………………….. 41

4.1 INTRODUCTION ……………………………………………………………………………………………………………………………………….. 41

4.2 DRIVERS ……………………………………………………………………………………………………………………………………………………. 42

4.2.1 INCREASING DEMAND FOR ENERGY-EFFICIENT HVAC SOLUTIONS …………………………………………………………. 42

4.2.2 RAPID URBANIZATION AND INFRASTRUCTURE DEVELOPMENT IN EMERGING ECONOMIES …………………………. 42

4.2.3 TECHNOLOGICAL ADVANCEMENTS IN VRF SYSTEMS ………………………………………………………………………….. 42

4.3 RESTRAINT ……………………………………………………………………………………………………………………………………………… 44

4.3.1 HIGH INITIAL INSTALLATION COSTS ………………………………………………………………………………………………… 44

4.3.2 LACK OF SKILLED WORKFORCE ……………………………………………………………………………………………………….. 44

4.4 OPPORTUNITY …………………………………………………………………………………………………………………………………………. 46

4.4.1 GROWING ADOPTION OF SMART AND CONNECTED BUILDING SYSTEMS …………………………………………………. 46

4.4.2 EXPANDING APPLICATIONS IN EMERGING MARKETS ………………………………………………………………………….. 46

5 MARKET FACTOR ANALYSIS ………………………………………………………………………………………… 48

5.1 SUPPLY CHAIN ANALYSIS ……………………………………………………………………………………………………………………. 48

5.1.1 RAW MATERIAL SOURCING AND COMPONENT MANUFACTURING: …………………………………………………………. 48

5.1.2 SYSTEM ASSEMBLY AND INTEGRATION: …………………………………………………………………………………………… 48

5.1.3 DISTRIBUTION AND LOGISTICS: ………………………………………………………………………………………………………. 49

5.1.4 INSTALLATION AND AFTER-SALES SERVICES: ……………………………………………………………………………………. 49

5.2 PORTER’S FIVE FORCES MODEL …………………………………………………………………………………………………………… 50

5.2.1 THREAT OF NEW ENTRANTS (MODERATE TO HIGH): …………………………………………………………………………… 51

5.2.2 BARGAINING POWER OF SUPPLIERS (MODERATE): ……………………………………………………………………………… 51

5.2.3 BARGAINING POWER OF BUYERS (HIGH): ………………………………………………………………………………………….. 51

5.2.4 THREAT OF SUBSTITUTE PRODUCTS (MODERATE): …………………………………………………………………………….. 51

5.2.5 RIVALRY AMONG EXISTING COMPETITORS (HIGH): …………………………………………………………………………….. 52

6 GLOBAL VRF SYSTEMS MARKET, BY SYSTEM TYPE …………………………………………………….. 54

6.1 OVERVIEW ……………………………………………………………………………………………………………………………………………….. 54

6.2 HEAT PUMP VRF (2 PIPE SYSTEM) ……………………………………………………………………………………………………… 55

6.3 HEAT RECOVERY VRF (3 PIPE SYSTEM) …………………………………………………………………………………………….. 55

7 GLOBAL VRF SYSTEMS MARKET, BY COMPONENT ………………………………………………………. 56

7.1 INTRODUCTION ……………………………………………………………………………………………………………………………………….. 56

7.2 OUTDOOR UNITS ……………………………………………………………………………………………………………………………………… 57

7.3 INDOOR UNITS …………………………………………………………………………………………………………………………………………. 57

7.4 CONTROL SYSTEMS ……………………………………………………………………………………………………………………………….. 58

7.5 ACCESSORIES …………………………………………………………………………………………………………………………………………… 58

8 GLOBAL VRF SYSTEMS MARKET, BY END USE VERTICAL …………………………………………….. 59

8.1 INTRODUCTION ……………………………………………………………………………………………………………………………………….. 59

8.2 COMMERCIAL ………………………………………………………………………………………………………………………………………….. 60

8.3 RESIDENTIAL …………………………………………………………………………………………………………………………………………… 60

8.4 INDUSTRIAL …………………………………………………………………………………………………………………………………………….. 61

9 GLOBAL VRF SYSTEMS MARKET, BY REGION ………………………………………………………………. 62

9.1 OVERVIEW ……………………………………………………………………………………………………………………………………………….. 62

9.1.1 GLOBAL VRF SYSTEMS MARKET, BY REGION, 2023 VS 2032 (USD MILLION) …………………………………………….. 62

9.1.2 GLOBAL VRF SYSTEMS MARKET, BY REGION, 2019–2032 (USD MILLION) ………………………………………………… 63

9.2 NORTH AMERICA ……………………………………………………………………………………………………………………………………. 64

9.2.1 US……………………………………………………………………………………………………………………………………………… 67

9.2.2 CANADA …………………………………………………………………………………………………………………………………….. 68

9.2.3 MEXICO ……………………………………………………………………………………………………………………………………… 68

9.3 EUROPE …………………………………………………………………………………………………………………………………………………….. 70

9.3.1 GERMANY …………………………………………………………………………………………………………………………………… 74

9.3.2 FRANCE ……………………………………………………………………………………………………………………………………… 75

9.3.3 UK …………………………………………………………………………………………………………………………………………….. 76

9.3.4 ITALY …………………………………………………………………………………………………………………………………………. 77

9.3.5 SPAIN ………………………………………………………………………………………………………………………………………… 78

9.3.6 REST OF EUROPE ………………………………………………………………………………………………………………………….. 79

9.4 ASIA-PACIFIC …………………………………………………………………………………………………………………………………………… 80

9.4.1 CHINA ………………………………………………………………………………………………………………………………………… 84

9.4.2 JAPAN ……………………………………………………………………………………………………………………………………….. 85

9.4.3 INDIA …………………………………………………………………………………………………………………………………………. 86

9.4.4 SOUTH KOREA ……………………………………………………………………………………………………………………………… 87

9.4.5 REST OF ASIA-PACIFIC ………………………………………………………………………………………………………………….. 88

9.5 MIDDLE EAST & AFRICA ………………………………………………………………………………………………………………………… 89

9.6 SOUTH AMERICA ……………………………………………………………………………………………………………………………………. 92

10 COMPETITIVE LANDSCAPE ………………………………………………………………………………………….. 96

10.1 INTRODUCTION ……………………………………………………………………………………………………………………………………….. 96

10.2 MARKET SHARE ANALYSIS, 2023 (% SHARE) ……………………………………………………………………………………. 97

10.3 COMPETITOR DASHBOARD……………………………………………………………………………………………………………………. 98

10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES ……………………………………………………………………………….. 99

10.4.1 PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET ……………………………………………………….. 99

10.4.2 PARTNERSHIP/INVESTMENT ………………………………………………………………………………………………………….. 101

11 COMPANY PROFILE …………………………………………………………………………………………………….. 102

11.1 DAIKIN ………………………………………………………………………………………………………………………………………………………. 102

11.1.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 102

11.1.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 103

11.1.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 103

11.1.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 104

11.1.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 104

11.1.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 104

11.2 LG ELECTRONICS …………………………………………………………………………………………………………………………………….. 105

11.2.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 105

11.2.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 106

11.2.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 106

11.2.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 107

11.2.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 108

11.2.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 108

11.3 CARRIER GLOBAL CORPORATION ………………………………………………………………………………………………………… 109

11.3.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 109

11.3.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 110

11.3.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 110

11.3.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 111

11.3.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 112

11.3.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 112

11.4 MITSUBISHI ELECTRIC…………………………………………………………………………………………………………………………… 113

11.4.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 113

11.4.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 113

11.4.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 114

11.4.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 115

11.4.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 116

11.4.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 116

11.5 MIDEA ……………………………………………………………………………………………………………………………………………………….. 117

11.5.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 117

11.5.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 118

11.5.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 118

11.5.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 119

11.5.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 119

11.5.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 119

11.6 JOHNSON CONTROLS ……………………………………………………………………………………………………………………………… 121

11.6.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 121

11.6.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 122

11.6.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 122

11.6.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 123

11.6.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 124

11.6.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 124

11.7 FUJITSU GENERAL …………………………………………………………………………………………………………………………………. 125

11.7.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 125

11.7.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 126

11.7.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 126

11.7.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 127

11.7.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 127

11.7.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 127

11.8 BLUE STAR LIMITED ………………………………………………………………………………………………………………………………. 128

11.8.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 128

11.8.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 128

11.8.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 129

11.8.4 KEY DEVELOPMENTS …………………………………………………………………………………………………………………….. 129

11.8.5 SWOT ANALYSIS ………………………………………………………………………………………………………………………….. 129

11.8.6 KEY STRATEGIES ………………………………………………………………………………………………………………………….. 129

11.9 VOLTAS LIMITED ……………………………………………………………………………………………………………………………………. 130

11.9.1 COMPANY OVERVIEW ……………………………………………………………………………………………………………………. 130

11.9.2 FINANCIAL OVERVIEW …………………………………………………………………………………………………………………… 130

11.9.3 PRODUCTS OFFERED …………………………………………………………………………………………………………………….. 130

11.9.4 KEY DEVELOPMENTS……………………………………………………… 130

11.9.5 SWOT ANALYSIS……………………………………………………………… 131

11.9.6 KEY STRATEGIES…………………………………………………. 131

11.10 BOSCH INDUSTRIEKESSEL GMBH…………………………………… 132

11.10.1 COMPANY OVERVIEW……………………………………………………….. 132

11.10.2 PRODUCTS OFFERED…………………………………………………. 133

11.10.3 KEY DEVELOPMENTS………………………………………………… 133

11.10.4 SWOT ANALYSIS……………………………………………………………. 133

11.10.5 KEY STRATEGIES……………………………………………………….. 133

11.11 GREE COMMERCIAL……………………………………………………………. 134

11.11.1 COMPANY OVERVIEW……………………………………………………. 134

11.11.2 FINANCIAL OVERVIEW …………………………………………………….. 134

11.11.3 PRODUCTS OFFERED…………………………………………….. 135

11.11.4 KEY DEVELOPMENTS…………………………………………………….. 136

11.11.5 SWOT ANALYSIS…………………………………………………….. 136

11.11.6 KEY STRATEGIES………………………………………………….. 136

11.12 SKM AIR CONDITIONING……………………………………………………… 137

11.12.1 COMPANY OVERVIEW……………………………………………………….. 137

11.12.2 FINANCIAL OVERVIEW……………………………………………….. 137

11.12.3 PRODUCTS OFFERED………………………………………………….. 137

11.12.4 KEY DEVELOPMENTS…………………………………………………….. 137

11.12.5 SWOT ANALYSIS…………………………………………………………… 138

11.12.6 KEY STRATEGIES…………………………………………………….. 138

11.13 TRANE TECHNOLOGIES………………………………………………………………. 139

11.13.1 COMPANY OVERVIEW……………………………………………. 139

11.13.2 FINANCIAL OVERVIEW……………………………………………. 140

11.13.3 PRODUCTS OFFERED………………………………………………….. 140

11.13.4 KEY DEVELOPMENTS…………………………………………………….. 141

11.13.5 SWOT ANALYSIS………………………………………………………………… 141

11.13.6 KEY STRATEGIES…………………………………………………………… 141

11.14 SAMSUNG ELECTRONICS CO……………………………………………….. 142

11.14.1 COMPANY OVERVIEW…………………………………………… 142

11.14.2 FINANCIAL OVERVIEW………………………………………………………….. 143

11.14.3 PRODUCTS OFFERED…………………………………………………….. 143

11.14.4 KEY DEVELOPMENTS………………………………………………………… 144

11.14.5 SWOT ANALYSIS………………………………………………………….. 144

11.14.6 KEY STRATEGIES…………………………………………………. 144

11.15 LENNOX INTERNATIONAL INC………………………………………………….. 146

11.15.1 COMPANY OVERVIEW……………………………………………………….. 146

11.15.2 FINANCIAL OVERVIEW…………………………………………………….. 147

11.15.3 PRODUCTS OFFERED……………………………………………………….. 147

11.15.4 KEY DEVELOPMENTS……………………………………………………… 148

11.15.5 SWOT ANALYSIS……………………………………………………………………. 149

11.15.6 KEY STRATEGIES………………………………………………………………….. 149

DATA CITATIONS …………………………… 151

LIST OF TABLES

TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 37

TABLE 2 GLOBAL VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 54

TABLE 3 GLOBAL VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 56

TABLE 4 GLOBAL VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 59

TABLE 5 GLOBAL VRF SYSTEMS MARKET, BY REGION, 2019–2032 (USD MILLION) 63

TABLE 6 NORTH AMERICA: VRF SYSTEMS MARKET, BY COUNTRY, 2019-2032 (USD MILLION) 65

TABLE 7 NORTH AMERICA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 65

TABLE 8 NORTH AMERICA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 66

TABLE 9 NORTH AMERICA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 67

TABLE 10 US VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 67

TABLE 11 US VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 67

TABLE 12 US VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 67

TABLE 13 CANADA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 68

TABLE 14 CANADA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 68

TABLE 15 CANADA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 68

TABLE 16 MEXICO VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 68

TABLE 17 MEXICO VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 69

TABLE 18 MEXICO VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 69

TABLE 19 EUROPE: VRF SYSTEMS MARKET, BY COUNTRY, 2019-2032 (USD MILLION) 71

TABLE 20 EUROPE VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 71

TABLE 21 EUROPE VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 72

TABLE 22 EUROPE VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 73

TABLE 23 GERMANY VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 74

TABLE 24 GERMANY VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 74

TABLE 25 GERMANY VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 74

TABLE 26 FRANCE VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 75

TABLE 27 FRANCE VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 75

TABLE 28 FRANCE VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 75

TABLE 29 UK VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 76

TABLE 30 UK VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 76

TABLE 31 UK VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 76

TABLE 32 ITALY VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 77

TABLE 33 ITALY VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 77

TABLE 34 ITALY VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 77

TABLE 35 SPAIN VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 78

TABLE 36 SPAIN VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 78

TABLE 37 SPAIN VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 78

TABLE 38 REST OF EUROPE VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 79

TABLE 39 REST OF EUROPE VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 79

TABLE 40 REST OF EUROPE VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 79

TABLE 41 ASIA-PACIFIC: VRF SYSTEMS MARKET, BY COUNTRY, 2019-2032 (USD MILLION) 81

TABLE 42 ASIA PACIFIC VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 81

TABLE 43 ASIA PACIFIC VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 82

TABLE 44 ASIA PACIFIC VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 83

TABLE 45 CHINA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 84

TABLE 46 CHINA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 84

TABLE 47 CHINA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 84

TABLE 48 JAPAN VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 85

TABLE 49 JAPAN VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 85

TABLE 50 JAPAN VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 85

TABLE 51 INDIA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 86

TABLE 52 INDIA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 86

TABLE 53 INDIA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 86

TABLE 54 SOUTH KOREA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 87

TABLE 55 SOUTH KOREA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 87

TABLE 56 SOUTH KOREA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 87

TABLE 57 REST OF ASIA PACIFIC VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 88

TABLE 58 REST OF ASIA PACIFIC VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 88

TABLE 59 REST OF ASIA PACIFIC VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 88

TABLE 60 MIDDLE EAST & AFRICA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 89

TABLE 61 MIDDLE EAST & AFRICA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 90

TABLE 62 MIDDLE EAST & AFRICA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 91

TABLE 63 SOUTH AMERICA VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 92

TABLE 64 SOUTH AMERICA VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 93

TABLE 65 SOUTH AMERICA VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 94

TABLE 66 PRODUCT LAUNCH/PRODUCT APPROVAL 99

TABLE 67 PARTNERSHIP/INVESTMENT 101

TABLE 68 DAIKIN: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 103

TABLE 69 LG ELECTRONICS: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 106

TABLE 70 LG ELECTRONICS: KEY DEVELOPMENTS 107

TABLE 71 CARRIER GLOBAL CORPORATION: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 110

TABLE 72 MITSUBISHI ELECTRIC: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 114

TABLE 73 MITSUBISHI ELECTRIC: KEY DEVELOPMENTS 115

TABLE 74 MIDEA: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 118

TABLE 75 MIDEA: KEY DEVELOPMENTS 119

TABLE 76 JOHNSON CONTROLS: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 122

TABLE 77 MIDEA: KEY DEVELOPMENTS 123

TABLE 78 FUJITSU GENERAL: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 126

TABLE 79 BLUE STAR LIMITED: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 129

TABLE 80 VOLTAS LIMITED: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 130

TABLE 81 BOSCH INDUSTRIEKESSEL GMBH: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 133

TABLE 82 GREE COMMERCIAL: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 135

TABLE 83 SKM AIR CONDITIONING: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 137

TABLE 84 TRANE TECHNOLOGIES: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 140

TABLE 85 SAMSUNG ELECTRONICS CO: KEY DEVELOPMENTS 141

TABLE 86 SAMSUNG ELECTRONICS CO.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 143

TABLE 87 SAMSUNG ELECTRONICS CO: KEY DEVELOPMENTS 144

TABLE 88 LENNOX INTERNATIONAL INC.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 147

TABLE 89 LENNOX INTERNATIONAL INC: KEY DEVELOPMENTS 148

LIST OF FIGURES

FIGURE 1 GLOBAL VRF SYSTEMS MARKET: STRUCTURE 24

FIGURE 2 GLOBAL VRF SYSTEMS MARKET: MARKET GROWTH FACTOR ANALYSIS (2019-2032) 41

FIGURE 3 DRIVER IMPACT ANALYSIS (2023-2032) 43

FIGURE 4 RESTRAINT IMPACT ANALYSIS (2023-2032) 45

FIGURE 5 OPPORTUNITY IMPACT FORECAST 46

FIGURE 6 SUPPLY CHAIN: GLOBAL VRF SYSTEMS MARKET 48

FIGURE 7 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL VRF SYSTEMS MARKET 50

FIGURE 8 GLOBAL VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2023 VS 2032 (USD MILLION) 54

FIGURE 9 GLOBAL VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2023 (% SHARE) 55

FIGURE 10 GLOBAL VRF SYSTEMS MARKET, BY COMPONENT, 2023 VS 2032 (USD MILLION) 56

FIGURE 11 GLOBAL VRF SYSTEMS MARKET, BY COMPONENT, 2023 (% SHARE) 57

FIGURE 12 GLOBAL VRF SYSTEMS MARKET, BY END USE VERTICAL, 2023 VS 2032 (USD MILLION) 59

FIGURE 13 GLOBAL VRF SYSTEMS MARKET, BY END USE VERTICAL, 2023 (% SHARE) 60

FIGURE 14 GLOBAL VRF SYSTEMS MARKET, BY REGION, 2023 (% SHARE) 62

FIGURE 15 GLOBAL VRF SYSTEMS MARKET, BY REGION, 2023 VS 2032 (USD MILLION) 62

FIGURE 16 NORTH AMERICA: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 64

FIGURE 17 NORTH AMERICA: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 VS 2032 (USD MILLION) 64

FIGURE 18 NORTH AMERICA: VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 65

FIGURE 19 NORTH AMERICA: VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 66

FIGURE 20 NORTH AMERICA: VRF SYSTEMS MARKET SHARE, BY END USE VERTICAL, 2019-2032 (USD MILLION) 66

FIGURE 21 EUROPE: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 70

FIGURE 22 EUROPE: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 VS 2032 (USD MILLION) 70

FIGURE 23 EUROPE: VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 71

FIGURE 24 EUROPE: VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 72

FIGURE 25 EUROPE: VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 72

FIGURE 26 ASIA-PACIFIC: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 80

FIGURE 27 ASIA-PACIFIC: VRF SYSTEMS MARKET SHARE, BY COUNTRY, 2023 VS 2032 (USD MILLION) 80

FIGURE 28 ASIA-PACIFIC: VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 81

FIGURE 29 ASIA-PACIFIC: VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 82

FIGURE 30 ASIA-PACIFIC: VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 82

FIGURE 31 MIDDLE EAST AND AFRICA: VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 89

FIGURE 32 MIDDLE EAST AND AFRICA: VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 90

FIGURE 33 MIDDLE EAST AND AFRICA: VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 90

FIGURE 34 SOUTH AMERICA: VRF SYSTEMS MARKET, BY SYSTEM TYPE, 2019-2032 (USD MILLION) 92

FIGURE 35 SOUTH AMERICA: VRF SYSTEMS MARKET, BY COMPONENT, 2019-2032 (USD MILLION) 93

FIGURE 36 SOUTH AMERICA: VRF SYSTEMS MARKET, BY END USE VERTICAL, 2019-2032 (USD MILLION) 93

FIGURE 1 VRF SYSTEMS MARKET PLAYERS: COMPETITIVE ANALSIS, 2023 (% SHARE) 97

FIGURE 2 COMPETITOR DASHBOARD: VRF SYSTEMS MARKET 98

FIGURE 3 DAIKIN: FINANCIAL OVERVIEW SNAPSHOT 103

FIGURE 4 DAIKIN: SWOT ANALYSIS 104

FIGURE 5 LG ELECTRONICS: FINANCIAL OVERVIEW SNAPSHOT 106

FIGURE 6 LG ELECTRONICS: SWOT ANALYSIS 108

FIGURE 7 CARRIER GLOBAL CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 110

FIGURE 8 CARRIER GLOBAL CORPORATION: SWOT ANALYSIS 112

FIGURE 9 MITSUBISHI ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT 113

FIGURE 10 MITSUBISHI ELECTRIC: SWOT ANALYSIS 116

FIGURE 11 MIDEA: FINANCIAL OVERVIEW SNAPSHOT 118

FIGURE 12 MIDEA: SWOT ANALYSIS 119

FIGURE 13 JOHNSON CONTROLS: FINANCIAL OVERVIEW SNAPSHOT 122

FIGURE 14 JOHNSON CONTROLS: SWOT ANALYSIS 124

FIGURE 15 FUJITSU GENERAL: FINANCIAL OVERVIEW SNAPSHOT 126

FIGURE 16 FUJITSU GENERAL: SWOT ANALYSIS 127

FIGURE 17 BLUE STAR LIMITED: SWOT ANALYSIS 129

FIGURE 18 VOLTAS LIMITED: SWOT ANALYSIS 131

FIGURE 19 BOSCH INDUSTRIEKESSEL GMBH: SWOT ANALYSIS 133

FIGURE 20 GREE COMMERCIAL: FINANCIAL OVERVIEW SNAPSHOT 134

FIGURE 21 GREE COMMERCIAL: SWOT ANALYSIS 136

FIGURE 22 SKM AIR CONDITIONING: SWOT ANALYSIS 138

FIGURE 23 TRANE TECHNOLOGIES: FINANCIAL OVERVIEW SNAPSHOT 140

FIGURE 24 TRANE TECHNOLOGIES: SWOT ANALYSIS 141

FIGURE 25 SAMSUNG ELECTRONICS CO.: FINANCIAL OVERVIEW SNAPSHOT 143

FIGURE 26 SAMSUNG ELECTRONICS CO.: SWOT ANALYSIS 144

FIGURE 27 LENNOX INTERNATIONAL INC.: FINANCIAL OVERVIEW SNAPSHOT 147

FIGURE 28 LENNOX INTERNATIONAL INC.: SWOT ANALYSIS 149