ShareThe global VRF (variable flow refrigerant) systems market
The global VRF (variable flow refrigerant) systems market estimated to grow at a Compound Annual Growth Rate (CAGR) of 11.4% between 2016 and 2022.
The global VRF systems market was estimated to be worth USD 11.08 billion in 2015 and is expected to reach USD 24.09 billion by 2022, growing at a CAGR of 11.4% between 2016 and 2022.
The main driving factors for VRF systems market include the good pace of growth of the construction industry, energy efficiency and easy installation of VRF systems.
Design flexibility and reliability of VRF systems makes it an excellent choice for commercial building applications.
The commercial building segment is expected to grow at the highest CAGR during the forecast period. VRF systems are widely used in the commercial sector which has been further sub segmented into building applications, educational institutions, healthcare facilities, hotels & restaurants, retail stores, and others.
Among all the geographic regions, North America is expected to grow at the highest CAGR during the forecast period. The VRF system has gained huge popularity in last few years in North America due to increasing awareness about energy efficiency and cost savings potential.
Some of the market drivers for VRF systems market are changing North American landscape for VRF air conditioning systems and increasing demand for cost-effective systems. Main driving factors for the VRF systems market in the US are improvement in the general health of the economy and increasing consumer spending, the good pace of growth of the construction industry, and the good health of ductless market.
Source: www.whatech.com
The main driving factors for VRF systems market include the good pace of growth of the construction industry, energy efficiency and easy installation of VRF systems.
Design flexibility and reliability of VRF systems makes it an excellent choice for commercial building applications.
The commercial building segment is expected to grow at the highest CAGR during the forecast period. VRF systems are widely used in the commercial sector which has been further sub segmented into building applications, educational institutions, healthcare facilities, hotels & restaurants, retail stores, and others.
Among all the geographic regions, North America is expected to grow at the highest CAGR during the forecast period. The VRF system has gained huge popularity in last few years in North America due to increasing awareness about energy efficiency and cost savings potential.
Some of the market drivers for VRF systems market are changing North American landscape for VRF air conditioning systems and increasing demand for cost-effective systems. Main driving factors for the VRF systems market in the US are improvement in the general health of the economy and increasing consumer spending, the good pace of growth of the construction industry, and the good health of ductless market.
Source: www.whatech.com