Market Overview:
The Global Commercial Air Conditioning Systems (VRF) Market size is expected to grow from USD 18221.64 million in 2022 to USD 50894.54 million by 2030, at a CAGR of 13.7% during the forecast period (2023-2030).
Commercial Air Conditioning Systems (VRF) is a Variable Refrigerant Flow, it is a technology used for giving cooling and heating effect to the air within a specific area. Functioning as a precise temperature management tool, this system comprises two heat exchange units positioned externally and internally within a building.
In the realm of Commercial Air Conditioning Systems, VRF technology offers enhanced control over heating and cooling functions. It distinguishes itself by featuring a singular external unit while accommodating multiple internal units. This contrasts with the conventional 1:1 ratio observed in HVAC systems or traditional split systems.
Top Key Players in Commercial Air Conditioning Systems (VRF) Market:
Daikin (Japan), Samsung Electronics (South Korea), Fujitsu (Japan), Panasonic (Japan), Johnson Controls (Ireland), LG Electronics (Delhi), Mitsubishi Electric (Japan), Lennox International Inc (US), Toshiba (Japan), Midea Group (China), Emerson (US), Carrier HVAC (US), and Other Major Players
Market Dynamics and Factors for Commercial Air Conditioning Systems (VRF) Market:
Drivers:
Rising Demand For Individualized and Law Maintenance Systems
Businesses are in high demand for air conditioning systems because they want to create a comfortable, cheerful, and productive environment inside the building. There is another system on the market that covers a large area with cooling and heating effects. According to the needs, VRF air conditioners deliver simultaneous cooling and heating effects to a specific area. VRF is made to offer multiple indoor units so that users can have a unique or customized experience. Individuals can control the indoor unit’s floor-by-floor or block-by-block to get hot or cold air depending on the requirements of a specific area.
Opportunities:
Increasing Spending on Customizable Air Conditioning System
The market for air conditioning systems is benefiting from the changing climatic conditions. The majority of businesses use air conditioning VRF systems to maintain a stable, work-friendly, and productive environment as a result of the environmental issues that people living in various areas face, such as rapid changes in environmental conditions brought on by rising pollution, population, and global warming. The simultaneous cooling and heating effects of VRF can give the entire building a controlled air supply. This system is built to provide an individualized and more specific air supply. It has numerous indoor units that can each be operated independently and provide the required temperature.
Segmentation Analysis of the Commercial Air Conditioning Systems (VRF) Market:
By type, the Heat Recovery System segment is excepted to dominate the market. It is the most common and effective system type that gives full control of temperature according to the condition or customer requirement.
By Application, Small-Middle Scale Firms are likely to dominate in this area. Small-middle-scale companies are in the business in large numbers; these companies are using VRF Air Conditioning Systems to provide comfort and a productive atmosphere to the employees.
Regional Analysis of the Commercial Air Conditioning Systems (VRF) Market:
North America is excepted to dominate the market during the forecast period. Due to increasing industrialization, expanding commercial areas, a changing environment, and extreme climatic conditions, the market for commercial VRF air conditioning systems is dependent on the growth in demand for these systems in the region. The VRF systems are necessary to provide fresh, warm, or cold air and to control the moisture to create breathable atmospheric conditions inside the building because the North American region is subject to two extreme weather conditions.
Key Industry Development:
In May 2020, Panasonic collaborated with Quantum Cooling, independent HVAC manufacturers, and build an automotive system representative firm. Under the collaboration, the latter company aimed to distribute Panasonic VRF and mini-split systems, including its new ECO Ventilate Packaged Dedicated Outside Air Systems (DOAS), to customers in Florida.
In April 2022, Samsung Electronics the global company made different advanced electronic devices. Samsung India launched India’s First AI-enabled New DVM S2 Variable Refrigerant Flow (VRF) ACs. It provides smarter and faster cooling. Samsung DVM S2 is equipped with advanced AI capabilities that recognize the installation environment; supply optimized cooling & heating, and real-time monitoring of refrigerant leakage.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
