The global market for Variable Refrigerant Flow (VRF) HVAC System was valued at US$ 21410 million in the year 2024 and is projected to reach a revised size of US$ 45110 million by 2031, growing at a CAGR of 11.4% during the forecast period.
North American market for Variable Refrigerant Flow (VRF) HVAC System is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Variable Refrigerant Flow (VRF) HVAC System is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global manufacturers of Variable Refrigerant Flow (VRF) HVAC System include Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Panasonic Corporation, Toshiba Corporation, Hitachi Ltd., Johnson Controls, Fujitsu Group, Midea Group, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Variable Refrigerant Flow (VRF) HVAC 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) HVAC System.
The Variable Refrigerant Flow (VRF) HVAC System market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Variable Refrigerant Flow (VRF) HVAC 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) HVAC 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 Ltd.
Mitsubishi Electric Corporation
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Panasonic Corporation
Toshiba Corporation
Hitachi Ltd.
Johnson Controls
Fujitsu Group
Midea Group
United Technologies
Ingersoll Rand
Lennox International
Gree
Carrier
by Type
2 Pipe Systems
3 Pipe Systems
by Application
Commercial
Residential
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Europe
Germany
France
U.K.
Italy
Russia
Rest of Europe
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) HVAC 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) HVAC 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) HVAC 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.
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1 Variable Refrigerant Flow (VRF) HVAC System Market Overview
1.1 Product Definition
1.2 Variable Refrigerant Flow (VRF) HVAC System by Type
1.2.1 Global Variable Refrigerant Flow (VRF) HVAC System Market Value Growth Rate Analysis by Type: 2024 VS 2031
1.2.2 2 Pipe Systems
1.2.3 3 Pipe Systems
1.3 Variable Refrigerant Flow (VRF) HVAC System by Application
1.3.1 Global Variable Refrigerant Flow (VRF) HVAC System Market Value Growth Rate Analysis by Application: 2024 VS 2031
1.3.2 Commercial
1.3.3 Residential
1.4 Global Market Growth Prospects
1.4.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts (2020-2031)
1.4.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Capacity Estimates and Forecasts (2020-2031)
1.4.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Estimates and Forecasts (2020-2031)
1.4.4 Global Variable Refrigerant Flow (VRF) HVAC System Market Average Price Estimates and Forecasts (2020-2031)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Market Share by Manufacturers (2020-2025)
2.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value Market Share by Manufacturers (2020-2025)
2.3 Global Key Players of Variable Refrigerant Flow (VRF) HVAC System, Industry Ranking, 2023 VS 2024
2.4 Global Variable Refrigerant Flow (VRF) HVAC System Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
2.5 Global Variable Refrigerant Flow (VRF) HVAC System Average Price by Manufacturers (2020-2025)
2.6 Global Key Manufacturers of Variable Refrigerant Flow (VRF) HVAC System, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Variable Refrigerant Flow (VRF) HVAC System, Product Offered and Application
2.8 Global Key Manufacturers of Variable Refrigerant Flow (VRF) HVAC System, Date of Enter into This Industry
2.9 Variable Refrigerant Flow (VRF) HVAC System Market Competitive Situation and Trends
2.9.1 Variable Refrigerant Flow (VRF) HVAC System Market Concentration Rate
2.9.2 Global 5 and 10 Largest Variable Refrigerant Flow (VRF) HVAC System Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Variable Refrigerant Flow (VRF) HVAC System Production by Region
3.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
3.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Region (2020-2031)
3.2.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Region (2020-2025)
3.2.2 Global Forecasted Production Value of Variable Refrigerant Flow (VRF) HVAC System by Region (2026-2031)
3.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
3.4 Global Variable Refrigerant Flow (VRF) HVAC System Production Volume by Region (2020-2031)
3.4.1 Global Variable Refrigerant Flow (VRF) HVAC System Production by Region (2020-2025)
3.4.2 Global Forecasted Production of Variable Refrigerant Flow (VRF) HVAC System by Region (2026-2031)
3.5 Global Variable Refrigerant Flow (VRF) HVAC System Market Price Analysis by Region (2020-2025)
3.6 Global Variable Refrigerant Flow (VRF) HVAC System Production and Value, Year-over-Year Growth
3.6.1 North America Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts (2020-2031)
3.6.2 Europe Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts (2020-2031)
3.6.3 China Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts (2020-2031)
3.6.4 Japan Variable Refrigerant Flow (VRF) HVAC System Production Value Estimates and Forecasts (2020-2031)
4 Variable Refrigerant Flow (VRF) HVAC System Consumption by Region
4.1 Global Variable Refrigerant Flow (VRF) HVAC System Consumption Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
4.2 Global Variable Refrigerant Flow (VRF) HVAC System Consumption by Region (2020-2031)
4.2.1 Global Variable Refrigerant Flow (VRF) HVAC System Consumption by Region (2020-2025)
4.2.2 Global Variable Refrigerant Flow (VRF) HVAC System Forecasted Consumption by Region (2026-2031)
4.3 North America
4.3.1 North America Variable Refrigerant Flow (VRF) HVAC System Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
4.3.2 North America Variable Refrigerant Flow (VRF) HVAC System Consumption by Country (2020-2031)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Variable Refrigerant Flow (VRF) HVAC System Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
4.4.2 Europe Variable Refrigerant Flow (VRF) HVAC System Consumption by Country (2020-2031)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Netherlands
4.5 Asia Pacific
4.5.1 Asia Pacific Variable Refrigerant Flow (VRF) HVAC System Consumption Growth Rate by Region: 2020 VS 2024 VS 2031
4.5.2 Asia Pacific Variable Refrigerant Flow (VRF) HVAC System Consumption by Region (2020-2031)
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) HVAC System Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
4.6.2 Latin America, Middle East & Africa Variable Refrigerant Flow (VRF) HVAC System Consumption by Country (2020-2031)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
4.6.6 GCC Countries
5 Segment by Type
5.1 Global Variable Refrigerant Flow (VRF) HVAC System Production by Type (2020-2031)
5.1.1 Global Variable Refrigerant Flow (VRF) HVAC System Production by Type (2020-2025)
5.1.2 Global Variable Refrigerant Flow (VRF) HVAC System Production by Type (2026-2031)
5.1.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Market Share by Type (2020-2031)
5.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Type (2020-2031)
5.2.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Type (2020-2025)
5.2.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Type (2026-2031)
5.2.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Value Market Share by Type (2020-2031)
5.3 Global Variable Refrigerant Flow (VRF) HVAC System Price by Type (2020-2031)
6 Segment by Application
6.1 Global Variable Refrigerant Flow (VRF) HVAC System Production by Application (2020-2031)
6.1.1 Global Variable Refrigerant Flow (VRF) HVAC System Production by Application (2020-2025)
6.1.2 Global Variable Refrigerant Flow (VRF) HVAC System Production by Application (2026-2031)
6.1.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Market Share by Application (2020-2031)
6.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Application (2020-2031)
6.2.1 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Application (2020-2025)
6.2.2 Global Variable Refrigerant Flow (VRF) HVAC System Production Value by Application (2026-2031)
6.2.3 Global Variable Refrigerant Flow (VRF) HVAC System Production Value Market Share by Application (2020-2031)
6.3 Global Variable Refrigerant Flow (VRF) HVAC System Price by Application (2020-2031)
7 Key Companies Profiled
7.1 Daikin Industries Ltd.
7.1.1 Daikin Industries Ltd. Variable Refrigerant Flow (VRF) HVAC System Company Information
7.1.2 Daikin Industries Ltd. Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.1.3 Daikin Industries Ltd. Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.1.4 Daikin Industries Ltd. Main Business and Markets Served
7.1.5 Daikin Industries Ltd. Recent Developments/Updates
7.2 Mitsubishi Electric Corporation
7.2.1 Mitsubishi Electric Corporation Variable Refrigerant Flow (VRF) HVAC System Company Information
7.2.2 Mitsubishi Electric Corporation Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.2.3 Mitsubishi Electric Corporation Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.2.4 Mitsubishi Electric Corporation Main Business and Markets Served
7.2.5 Mitsubishi Electric Corporation Recent Developments/Updates
7.3 LG Electronics Inc.
7.3.1 LG Electronics Inc. Variable Refrigerant Flow (VRF) HVAC System Company Information
7.3.2 LG Electronics Inc. Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.3.3 LG Electronics Inc. Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.3.4 LG Electronics Inc. Main Business and Markets Served
7.3.5 LG Electronics Inc. Recent Developments/Updates
7.4 Samsung Electronics Co. Ltd.
7.4.1 Samsung Electronics Co. Ltd. Variable Refrigerant Flow (VRF) HVAC System Company Information
7.4.2 Samsung Electronics Co. Ltd. Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.4.3 Samsung Electronics Co. Ltd. Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.4.4 Samsung Electronics Co. Ltd. Main Business and Markets Served
7.4.5 Samsung Electronics Co. Ltd. Recent Developments/Updates
7.5 Panasonic Corporation
7.5.1 Panasonic Corporation Variable Refrigerant Flow (VRF) HVAC System Company Information
7.5.2 Panasonic Corporation Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.5.3 Panasonic Corporation Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.5.4 Panasonic Corporation Main Business and Markets Served
7.5.5 Panasonic Corporation Recent Developments/Updates
7.6 Toshiba Corporation
7.6.1 Toshiba Corporation Variable Refrigerant Flow (VRF) HVAC System Company Information
7.6.2 Toshiba Corporation Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.6.3 Toshiba Corporation Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.6.4 Toshiba Corporation Main Business and Markets Served
7.6.5 Toshiba Corporation Recent Developments/Updates
7.7 Hitachi Ltd.
7.7.1 Hitachi Ltd. Variable Refrigerant Flow (VRF) HVAC System Company Information
7.7.2 Hitachi Ltd. Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.7.3 Hitachi Ltd. Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.7.4 Hitachi Ltd. Main Business and Markets Served
7.7.5 Hitachi Ltd. Recent Developments/Updates
7.8 Johnson Controls
7.8.1 Johnson Controls Variable Refrigerant Flow (VRF) HVAC System Company Information
7.8.2 Johnson Controls Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.8.3 Johnson Controls Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.8.4 Johnson Controls Main Business and Markets Served
7.8.5 Johnson Controls Recent Developments/Updates
7.9 Fujitsu Group
7.9.1 Fujitsu Group Variable Refrigerant Flow (VRF) HVAC System Company Information
7.9.2 Fujitsu Group Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.9.3 Fujitsu Group Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.9.4 Fujitsu Group Main Business and Markets Served
7.9.5 Fujitsu Group Recent Developments/Updates
7.10 Midea Group
7.10.1 Midea Group Variable Refrigerant Flow (VRF) HVAC System Company Information
7.10.2 Midea Group Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.10.3 Midea Group Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.10.4 Midea Group Main Business and Markets Served
7.10.5 Midea Group Recent Developments/Updates
7.11 United Technologies
7.11.1 United Technologies Variable Refrigerant Flow (VRF) HVAC System Company Information
7.11.2 United Technologies Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.11.3 United Technologies Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.11.4 United Technologies Main Business and Markets Served
7.11.5 United Technologies Recent Developments/Updates
7.12 Ingersoll Rand
7.12.1 Ingersoll Rand Variable Refrigerant Flow (VRF) HVAC System Company Information
7.12.2 Ingersoll Rand Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.12.3 Ingersoll Rand Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.12.4 Ingersoll Rand Main Business and Markets Served
7.12.5 Ingersoll Rand Recent Developments/Updates
7.13 Lennox International
7.13.1 Lennox International Variable Refrigerant Flow (VRF) HVAC System Company Information
7.13.2 Lennox International Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.13.3 Lennox International Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.13.4 Lennox International Main Business and Markets Served
7.13.5 Lennox International Recent Developments/Updates
7.14 Gree
7.14.1 Gree Variable Refrigerant Flow (VRF) HVAC System Company Information
7.14.2 Gree Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.14.3 Gree Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.14.4 Gree Main Business and Markets Served
7.14.5 Gree Recent Developments/Updates
7.15 Carrier
7.15.1 Carrier Variable Refrigerant Flow (VRF) HVAC System Company Information
7.15.2 Carrier Variable Refrigerant Flow (VRF) HVAC System Product Portfolio
7.15.3 Carrier Variable Refrigerant Flow (VRF) HVAC System Production, Value, Price and Gross Margin (2020-2025)
7.15.4 Carrier Main Business and Markets Served
7.15.5 Carrier Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Variable Refrigerant Flow (VRF) HVAC System Industry Chain Analysis
8.2 Variable Refrigerant Flow (VRF) HVAC System Raw Material Supply Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Variable Refrigerant Flow (VRF) HVAC System Production Mode & Process Analysis
8.4 Variable Refrigerant Flow (VRF) HVAC System Sales and Marketing
8.4.1 Variable Refrigerant Flow (VRF) HVAC System Sales Channels
8.4.2 Variable Refrigerant Flow (VRF) HVAC System Distributors
8.5 Variable Refrigerant Flow (VRF) HVAC System Customer Analysis
9 Variable Refrigerant Flow (VRF) HVAC System Market Dynamics
9.1 Variable Refrigerant Flow (VRF) HVAC System Industry Trends
9.2 Variable Refrigerant Flow (VRF) HVAC System Market Drivers
9.3 Variable Refrigerant Flow (VRF) HVAC System Market Challenges
9.4 Variable Refrigerant Flow (VRF) HVAC System Market Restraints
10 Research Findings 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
Daikin Industries Ltd.
Mitsubishi Electric Corporation
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Panasonic Corporation
Toshiba Corporation
Hitachi Ltd.
Johnson Controls
Fujitsu Group
Midea Group
United Technologies
Ingersoll Rand
Lennox International
Gree
Carrier
听
听
*If Applicable.