Variable Refrigerant Flow (VRF) Systems Market Set to Reach $41.3 Billion by 2030, as Heat Pump Segments Show Robust Growth
Dublin, March 08, 2024 (GLOBE NEWSWIRE) -- The "Variable Refrigerant Flow (VRF) Systems: Global Strategic Business Report" has been added to * ResearchAndMarkets.com's* offering.
Amidst the rapidly evolving global economic landscape, the demand for efficient and advanced climate control solutions is on the rise. The latest analysis reveals that the global market for Variable Refrigerant Flow (VRF) Systems is projected to achieve an impressive valuation, estimated to grow from US$17.6 Billion in 2022 to US$41.3 Billion by the year 2030. This growth trajectory corresponds to a Compound Annual Growth Rate (CAGR) of 11.3% over the forecast period from 2022-2030.
In a detailed segmentation of the market, Heat Pump Systems have surfaced as a leading segment, expected to register a growth rate of 12.8% CAGR, thereby reaching around US$29 Billion by the end of the forecast period. The market is benefiting from the recovery phase post-pandemic, with the Heat Recovery Systems segment adapting to a recalibrated growth rate of 8.3% CAGR over the coming eight years.
*Key Geographic Market Insights*
The United States market for VRF systems stands robust with an estimation of US$4.6 Billion in the year 2022. On the other side of the globe, China's market growth outpaces many, forecasted to surge at a remarkable 15.1% CAGR, targeting a market size of US$10 Billion by the year 2030.
Japan and Canada are also expected to demonstrate significant growth, with forecasts at 7.6% and 9.3% CAGR respectively through 2022-2030. Europe's market is not far behind, with Germany anticipated to expand at approximately 8.6% CAGR.
*Report Scope*
· *Heat Pump Systems Dominance:* A sector of high performance and demand, fueling market growth.
· *Regional Market Spotlight:* Key insights into the U.S., China, Japan, Canada, and Germany's growth metrics.
· *Emerging Trends:* Comprehensive analysis of market dynamics, including the impact of the Russia-Ukraine conflict, global inflation trends, China's policy shifts, and supply chain challenges.
The comprehensive report underscores a competitive landscape, featuring a select set of industry leaders that are shaping the Variable Refrigerant Flow Systems market. With a global presence and strategic market positioning, these competitors are instrumental in driving innovation and customer value. The report further provides an in-depth look into their market shares and geographical presence.
In addition to market analysis, the report offers bespoke updates, providing an interactive platform for peer-to-peer collaboration and access to digital archives. With a commitment to delivering quality insights, the publication includes a year of complimentary updates, ensuring stakeholders have the most current data at their fingertips.
This strategic business report reflects the ever-changing market dynamics and offers a lens into the future of Variable Refrigerant Flow (VRF) Systems, catering to the needs of stakeholders seeking informed, data-driven decisions.*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 252
Forecast Period 2022 - 2030
Estimated Market Value (USD) in 2022 $17.6 Billion
Forecasted Market Value (USD) by 2030 $41.3 Billion
Compound Annual Growth Rate 11.3%
Regions Covered Global
*A selection of companies mentioned in this report includes*
· Daikin Industries Ltd.
· Fujitsu General Ltd.
· Hitachi Ltd.
· Ingersoll-Rand PLC
· Lennox International, Inc.
· LG Electronics, Inc.
· Midea Group Co., Ltd.
· Mitsubishi Electric Corporation
· Panasonic Corporation
· Samsung Electronics Co., Ltd.
· United Technologies Corporation (UTC)
For more information about this report visit https://www.researchandmarkets.com/r/ypslee
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global Market for Variable Refrigerant Flow (VRF) Systems
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900