The global commercial air conditioning systems (VRF) market is expected to exhibit strong growth, reaching USD 35.9 billion by 2030. As per the report titled "Commercial air conditioning systems (VRF) Market Size, Share & COVID-19 Impact Analysis, By Type (Outdoor Units, Indoor Units and Control Systems and Accessories), By Application (Private, Public and Industrial), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 16.5 billion and USD 35.9 billion in 2030. The market is expected to exhibit a CAGR of 13.80% during the forecast period.
Samsung Announced The Arrival Of Large-Capacity VRF Air Conditioning Systems In India
In January 2021, the South Korean multinational business Samsung has announced the introduction of large-capacity VRF air conditioning systems in India. In villas, luxury apartments, homes, and bungalows, this system can be fitted in 0.5 square metres of area. Furthermore, this VRF system offers environmentally responsible, effective, and quiet air conditioning.
Increasing Air Conditioning System Demand in Developing Countries Would Open Up Vast Investment Possibilities for Market Growth
As temperatures rise and people have more disposable cash, there is a growing need for HVAC systems in emerging economies like the UAE, India, Mexico, and Brazil. According to the 2020 Annual Climate Report from the National Oceanic and Atmospheric Administration (NOAA), published by the U.S. Department of Commerce, since 1880, the combined temperature of the ocean and land has risen at an average rate of 0.08°C per decade; however, the average increase rate since 1981 (0.18°C) has been more than twice that amount. Large glass windows are a common feature of modern buildings being built across the world because they draw in sunlight, which heats up the interiors more quickly and need cooling. In addition, as there are more and more households with two incomes, there is a growing need for luxury electronics that are taking up space in homes and buildings today, which is good news for the development of air conditioning systems in rising nations.
Lack of Skilled Installers Could Impede Growth
The absence of qualified installers is a market barrier that may have an impact on the development and uptake of commercial air conditioning systems, particularly Variable Refrigerant Flow (VRF) systems. In comparison to conventional HVAC systems, VRF systems call for more complex installation and maintenance methods. Because of this, proper installation and upkeep of these systems call for particular training and knowledge. VRF system demand, however, might not be able to be met by the available pool of qualified installers. Customers may become frustrated by the lengthened wait times for installations and maintenance as a result.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the commercial air conditioning systems (VRF) market plan acquisitions to improve their brand recognition globally. For instance, in January 2019, a full DC inverter VRF system called Genyue5+ was unveiled by Trane, a manufacturer of ventilation, heating, and air conditioning systems, for the SAARC and Indian markets. For the commercial, retail, hospitality, educational, and healthcare sectors, this solution is the best option.
Recent Development:
Samsung Announced The Arrival Of Large-Capacity VRF Air Conditioning Systems In India
In January 2021, the South Korean multinational business Samsung has announced the introduction of large-capacity VRF air conditioning systems in India. In villas, luxury apartments, homes, and bungalows, this system can be fitted in 0.5 square metres of area. Furthermore, this VRF system offers environmentally responsible, effective, and quiet air conditioning.
Increasing Air Conditioning System Demand in Developing Countries Would Open Up Vast Investment Possibilities for Market Growth
As temperatures rise and people have more disposable cash, there is a growing need for HVAC systems in emerging economies like the UAE, India, Mexico, and Brazil. According to the 2020 Annual Climate Report from the National Oceanic and Atmospheric Administration (NOAA), published by the U.S. Department of Commerce, since 1880, the combined temperature of the ocean and land has risen at an average rate of 0.08°C per decade; however, the average increase rate since 1981 (0.18°C) has been more than twice that amount. Large glass windows are a common feature of modern buildings being built across the world because they draw in sunlight, which heats up the interiors more quickly and need cooling. In addition, as there are more and more households with two incomes, there is a growing need for luxury electronics that are taking up space in homes and buildings today, which is good news for the development of air conditioning systems in rising nations.
Lack of Skilled Installers Could Impede Growth
The absence of qualified installers is a market barrier that may have an impact on the development and uptake of commercial air conditioning systems, particularly Variable Refrigerant Flow (VRF) systems. In comparison to conventional HVAC systems, VRF systems call for more complex installation and maintenance methods. Because of this, proper installation and upkeep of these systems call for particular training and knowledge. VRF system demand, however, might not be able to be met by the available pool of qualified installers. Customers may become frustrated by the lengthened wait times for installations and maintenance as a result.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the commercial air conditioning systems (VRF) market plan acquisitions to improve their brand recognition globally. For instance, in January 2019, a full DC inverter VRF system called Genyue5+ was unveiled by Trane, a manufacturer of ventilation, heating, and air conditioning systems, for the SAARC and Indian markets. For the commercial, retail, hospitality, educational, and healthcare sectors, this solution is the best option.
Recent Development:
- In October 2019, a technology agreement was formed by Panasonic Corporation and Welcoming Air-Tech (WAT) for the creation of sustainable and energy-efficient air conditioning and ventilation solutions for the commercial market in Southeast Asia.
List of Key Players Profiled in the Report
- Diakin
- Fujitsu
- Mitsubishi Electric
- Toshiba
- Carrier
- Samsung Electronics
- Haier Electronics
- Lennox
- LG
- Panasonic
- Ingersoll-Rand
- Hitachi
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global Commercial air conditioning systems (VRF) market share in the coming years. VRF systems are expected to be the main growth driver of the market in this region due to their rising ubiquity and high concentration in nations like China, Japan, South Korea, and others.
- In addition, the expansion of the IT industries in Australia and India is anticipated to favourably affect the uptake of the VRF system due to advantages including minimal maintenance costs.
- In North America, the growth in this region is primarily driven by expanding use of VRF systems in large businesses.
| Attributes | Details |
| Market Size in 2022 | USD 16.5 Billion |
| Market Forecast in 2030 | USD 35.9 Billion |
| Compound Annual Growth Rate | 13.80 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Application and By Geography |
| By Type |
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| By Application |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
