The Asia Pacific Variable Refrigerant Flow (VRF) Systems Market would witness market growth of 17.5% CAGR during the forecast period (2020-2026). VRF systems are non-traditional HVAC systems compared to conventional ducted systems that circulate throughout the building in the air or chilled water. The term VRF indicates the system's ability to adjust and regulate the flow of refrigerants via multiple evaporator coils to provide individual temperature regulation in different mechanical comfort zones. VRF systems transfer the heat from the room directly to the evaporator coils located inside the conditioned space using direct expansion (DX) as part of the simple refrigeration process. In this case, the heat-transfer media is the refrigerant, which provides heating and cooling to different zones with less energy compared to air or water.
Another advantage of VRF-systems is individualized comfort. With controls on indoor units, occupants can adjust the temperature to their liking, which is why VRF is such a common choice in dormitories and hotels, for example. The VRF systems are lightweight as compared with conventional HVAC systems. For example, there is smaller refrigerant piping which works well for buildings that need tight space. Given the adaptive architecture, VRF allows simple installations and is also a good option for retrofits.
Among countries, the early adopters of the VRF technology are China, Japan and South Korea. China, which is the world's largest developing country, is experiencing a dynamic climate, increasing the country's need for efficient heating and cooling solutions. The country's latest wave of building construction has contributed to rapid economic growth and improved living standards. The growth in the construction industry has had a direct effect on the country's energy consumption.
Due to the presence of the major players in this area, APAC holds the largest market share. Countries such as China, Japan, South Korea and India are driving the VRF program demand growth in APAC to a large extent. Those countries have substantial market size and potential for VRF industry growth. The adoption of VRF systems in the APAC region is supported by various government regulations, acts, and associations.
Based on Type, the market is segmented into Heat Pump Systems and Heat Recovery Systems. Based on Component, the market is segmented into Outdoor Units, Indoor Units and Control Systems & Accessories. Based on End User, the market is segmented into Commercial, Residential and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Variable Refrigerant Flow (VRF) Systems Market in Asia Pacific is expected to register a CAGR of 17.5% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics, Inc. (LG Corporation), Daikin Industries, Ltd., Toshiba Corporation, Mitsubishi Electric Corporation, Fujitsu Limited, Trane Technologies PLC, Lennox International, Inc., Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), and Johnson Controls International PLC.
Scope of the Asia Pacific Variable Refrigerant Flow (VRF) Systems Market Analysis
Market Segmentation:
By Type
- Heat Pump Systems
- Heat Recovery Systems
By Component
- Outdoor Units
- Indoor Units
- Control Systems & Accessories
By End-User
- Commercial
- Residential
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Companies Profiled
- LG Electronics, Inc. (LG Corporation)
- Daikin Industries, Ltd.
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Fujitsu Limited
- Trane Technologies PLC
- Lennox International, Inc.
- Panasonic Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
- Johnson Controls International PLC
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Variable Refrigerant Flow (VRF) Systems Market, by Type
1.4.2 Asia Pacific Variable Refrigerant Flow (VRF) Systems Market, by Component
1.4.3 Asia Pacific Variable Refrigerant Flow (VRF) Systems Market, by End User
1.4.4 Asia Pacific Variable Refrigerant Flow (VRF) Systems Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Geographical Expansions
3.2.4 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2016, Jan – 2019, Nov) Leading Players
Chapter 4. Asia Pacific VRF System Market by Type
4.1 Asia Pacific VRF System Heat Pump Systems Market by Country
4.2 Asia Pacific VRF System Heat Recovery Systems Market by Country
Chapter 5. Asia Pacific VRF System Market by End Use
5.1 Asia Pacific VRF System Commercial Market by Country
5.2 Asia Pacific VRF System Residential Market by Country
5.3 Asia Pacific Other End Use VRF System Market by Country
Chapter 6. Asia Pacific VRF System Market by Component
6.1 Asia Pacific Outdoor Units VRF System Market by Country
6.2 Asia Pacific Indoor Units VRF System Market by Country
6.3 Asia Pacific Control Systems & Accessories Market by Country
Chapter 7. Asia Pacific VRF System Market by Country
7.1 China VRF System Market
7.1.1 China VRF System Market by Type
7.1.2 China VRF System Market by End Use
7.1.3 China VRF System Market by Component
7.2 Japan VRF System Market
7.2.1 Japan VRF System Market by Type
7.2.2 Japan VRF System Market by End Use
7.2.3 Japan VRF System Market by Component
7.3 India VRF System Market
7.3.1 India VRF System Market by Type
7.3.2 India VRF System Market by End Use
7.3.3 India VRF System Market by Component
7.4 South Korea VRF System Market
7.4.1 South Korea VRF System Market by Type
7.4.2 South Korea VRF System Market by End Use
7.4.3 South Korea VRF System Market by Component
7.5 Singapore VRF System Market
7.5.1 Singapore VRF System Market by Type
7.5.2 Singapore VRF System Market by End Use
7.5.3 Singapore VRF System Market by Component
7.6 Malaysia VRF System Market
7.6.1 Malaysia VRF System Market by Type
7.6.2 Malaysia VRF System Market by End Use
7.6.3 Malaysia VRF System Market by Component
7.7 Rest of Asia Pacific VRF System Market
7.7.1 Rest of Asia Pacific VRF System Market by Type
7.7.2 Rest of Asia Pacific VRF System Market by End Use
7.7.3 Rest of Asia Pacific VRF System Market by Component
Chapter 8. Company Profiles
8.1 LG Electronics, Inc. (LG Corporation)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.2 Daikin Industries, Ltd.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional & Segmental Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.5.3 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 Toshiba Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research and Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Mitsubishi Electric Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Geographical Expansions:
8.4.6 SWOT Analysis
8.5 Fujitsu Limited
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Recent strategies and developments:
8.5.3.1 Partnerships, Collaborations, and Agreements:
8.5.4 SWOT Analysis
8.6 Trane Technologies PLC
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Product Launches and Product Expansions:
8.6.5.3 Acquisition and Mergers:
8.7 Lennox International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.8 Panasonic Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Product Launches and Product Expansions:
8.8.6 SWOT Analysis
8.9 Samsung Electronics Co., Ltd. (Samsung Group)
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Product Launches and Product Expansions:
8.9.6 SWOT Analysis
8.1 Johnson Controls International PLC
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Product Launches and Product Expansions:
8.10.5.2 Geographical Expansions:
8.10.6 SWOT Analysis
TABLE 1 Asia Pacific VRF System Market, 2016 - 2019, USD Million
TABLE 2 Asia Pacific VRF System Market, 2020 - 2026, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Variable Refrigerant Flow (VRF) Systems Market
TABLE 4 Product Launches And Product Expansions– Variable Refrigerant Flow (VRF) Systems Market
TABLE 5 Geographical Expansions– Variable Refrigerant Flow (VRF) Systems Market
TABLE 6 Mergers & Acquisitions – Variable Refrigerant Flow (VRF) Systems Market
TABLE 7 Asia Pacific VRF System Market by Type, 2016 - 2019, USD Million
TABLE 8 Asia Pacific VRF System Market by Type, 2020 - 2026, USD Million
TABLE 9 Asia Pacific VRF System Heat Pump Systems Market by Country, 2016 - 2019, USD Million
TABLE 10 Asia Pacific VRF System Heat Pump Systems Market by Country, 2020 - 2026, USD Million
TABLE 11 Asia Pacific VRF System Heat Recovery Systems Market by Country, 2016 - 2019, USD Million
TABLE 12 Asia Pacific VRF System Heat Recovery Systems Market by Country, 2020 - 2026, USD Million
TABLE 13 Asia Pacific VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 14 Asia Pacific VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 15 Asia Pacific VRF System Commercial Market by Country, 2016 - 2019, USD Million
TABLE 16 Asia Pacific VRF System Commercial Market by Country, 2020 - 2026, USD Million
TABLE 17 Asia Pacific VRF System Residential Market by Country, 2016 - 2019, USD Million
TABLE 18 Asia Pacific VRF System Residential Market by Country, 2020 - 2026, USD Million
TABLE 19 Asia Pacific Other End Use VRF System Market by Country, 2016 - 2019, USD Million
TABLE 20 Asia Pacific Other End Use VRF System Market by Country, 2020 - 2026, USD Million
TABLE 21 Asia Pacific VRF System Market by Component, 2016 - 2019, USD Million
TABLE 22 Asia Pacific VRF System Market by Component, 2020 - 2026, USD Million
TABLE 23 Asia Pacific Outdoor Units VRF System Market by Country, 2016 - 2019, USD Million
TABLE 24 Asia Pacific Outdoor Units VRF System Market by Country, 2020 - 2026, USD Million
TABLE 25 Asia Pacific Indoor Units VRF System Market by Country, 2016 - 2019, USD Million
TABLE 26 Asia Pacific Indoor Units VRF System Market by Country, 2020 - 2026, USD Million
TABLE 27 Asia Pacific Control Systems & Accessories Market by Country, 2016 - 2019, USD Million
TABLE 28 Asia Pacific Control Systems & Accessories Market by Country, 2020 - 2026, USD Million
TABLE 29 Asia Pacific VRF System Market by Country, 2016 - 2019, USD Million
TABLE 30 Asia Pacific VRF System Market by Country, 2020 - 2026, USD Million
TABLE 31 China VRF System Market, 2016 - 2019, USD Million
TABLE 32 China VRF System Market, 2020 - 2026, USD Million
TABLE 33 China VRF System Market by Type, 2016 - 2019, USD Million
TABLE 34 China VRF System Market by Type, 2020 - 2026, USD Million
TABLE 35 China VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 36 China VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 37 China VRF System Market by Component, 2016 - 2019, USD Million
TABLE 38 China VRF System Market by Component, 2020 - 2026, USD Million
TABLE 39 Japan VRF System Market, 2016 - 2019, USD Million
TABLE 40 Japan VRF System Market, 2020 - 2026, USD Million
TABLE 41 Japan VRF System Market by Type, 2016 - 2019, USD Million
TABLE 42 Japan VRF System Market by Type, 2020 - 2026, USD Million
TABLE 43 Japan VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 44 Japan VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 45 Japan VRF System Market by Component, 2016 - 2019, USD Million
TABLE 46 Japan VRF System Market by Component, 2020 - 2026, USD Million
TABLE 47 India VRF System Market, 2016 - 2019, USD Million
TABLE 48 India VRF System Market, 2020 - 2026, USD Million
TABLE 49 India VRF System Market by Type, 2016 - 2019, USD Million
TABLE 50 India VRF System Market by Type, 2020 - 2026, USD Million
TABLE 51 India VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 52 India VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 53 India VRF System Market by Component, 2016 - 2019, USD Million
TABLE 54 India VRF System Market by Component, 2020 - 2026, USD Million
TABLE 55 South Korea VRF System Market, 2016 - 2019, USD Million
TABLE 56 South Korea VRF System Market, 2020 - 2026, USD Million
TABLE 57 South Korea VRF System Market by Type, 2016 - 2019, USD Million
TABLE 58 South Korea VRF System Market by Type, 2020 - 2026, USD Million
TABLE 59 South Korea VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 60 South Korea VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 61 South Korea VRF System Market by Component, 2016 - 2019, USD Million
TABLE 62 South Korea VRF System Market by Component, 2020 - 2026, USD Million
TABLE 63 Singapore VRF System Market, 2016 - 2019, USD Million
TABLE 64 Singapore VRF System Market, 2020 - 2026, USD Million
TABLE 65 Singapore VRF System Market by Type, 2016 - 2019, USD Million
TABLE 66 Singapore VRF System Market by Type, 2020 - 2026, USD Million
TABLE 67 Singapore VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 68 Singapore VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 69 Singapore VRF System Market by Component, 2016 - 2019, USD Million
TABLE 70 Singapore VRF System Market by Component, 2020 - 2026, USD Million
TABLE 71 Malaysia VRF System Market, 2016 - 2019, USD Million
TABLE 72 Malaysia VRF System Market, 2020 - 2026, USD Million
TABLE 73 Malaysia VRF System Market by Type, 2016 - 2019, USD Million
TABLE 74 Malaysia VRF System Market by Type, 2020 - 2026, USD Million
TABLE 75 Malaysia VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 76 Malaysia VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 77 Malaysia VRF System Market by Component, 2016 - 2019, USD Million
TABLE 78 Malaysia VRF System Market by Component, 2020 - 2026, USD Million
TABLE 79 Rest of Asia Pacific VRF System Market, 2016 - 2019, USD Million
TABLE 80 Rest of Asia Pacific VRF System Market, 2020 - 2026, USD Million
TABLE 81 Rest of Asia Pacific VRF System Market by Type, 2016 - 2019, USD Million
TABLE 82 Rest of Asia Pacific VRF System Market by Type, 2020 - 2026, USD Million
TABLE 83 Rest of Asia Pacific VRF System Market by End Use, 2016 - 2019, USD Million
TABLE 84 Rest of Asia Pacific VRF System Market by End Use, 2020 - 2026, USD Million
TABLE 85 Rest of Asia Pacific VRF System Market by Component, 2016 - 2019, USD Million
TABLE 86 Rest of Asia Pacific VRF System Market by Component, 2020 - 2026, USD Million
TABLE 87 Key information – LG Electronics, Inc.
TABLE 88 Key information – Daikin Industries, Ltd.
TABLE 89 Key Information – Toshiba Corporation
TABLE 90 key information – Mitsubishi Electric Corporation
TABLE 91 Key Information – Fujitsu Limited
TABLE 92 Key Information – Trane Technologies PLC
TABLE 93 Key information – Lennox International, Inc.
TABLE 94 Key Information – Panasonic Corporation
TABLE 95 Key Information –Samsung Electronics Co., Ltd.
TABLE 96 Key Information – Johnson Controls International PLC
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2016-2020)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2016, Jan – 2019, Nov) Leading Players
FIG 5 Recent strategies and developments: Daikin Industries, Ltd.
FIG 6 SWOT Analysis: Daikin Industries. Ltd.
FIG 7 Recent strategies and developments: Toshiba Corporation
FIG 8 SWOT Analysis: Toshiba Corporation
FIG 9 Recent strategies and developments: Mitsubishi Electric Corporation
FIG 10 SWOT Analysis: Mitsubishi Electric Corporation
FIG 11 SWOT Analysis: Fujitsu Limited
FIG 12 Recent strategies and developments: Trane Technologies PLC
FIG 13 Recent strategies and developments: Panasonic Corporation
FIG 14 SWOT Analysis: Panasonic Corporation
FIG 15 Recent strategies and developments: Samsung Electronics Co., Ltd.
FIG 16 SWOT Analysis: Samsung Electronics CO. Ltd.
FIG 17 Recent strategies and developments: Johnson Controls International PLC
FIG 18 swot analsyis: Johnson controls international plc