PUNE, India, October 2, 2017 /PRNewswire/ --
The report "VRF System Market by System Type (Heat Pump, Heat Recovery), Component (Outdoor Unit, Indoor Unit, Control Systems, and Accessories), Application (Commercial: Office Buildings, Retail Stores, Residential), and Geography - Global Forecast to 2023", published by MarketsandMarkets™ , the market is expected to grow at a CAGR of 12.43% between 2017 and 2023. It is projected to be worth USD 22.79 Billion by 2023. The rapid growth of the VRF system market can be attributed to various factors such as technological advancements, high energy efficiency, easy installation, low global warming potential, and booming commercial building construction sector.
Browse 66 Market Data Tables and 58 Figures spread through 154 Pages and in-depth TOC on "VRF System Market - Global Forecast to 2023"
Early buyers will receive 10% customization on this report
Heat pump VRF systems held the largest market share in 2016
Among various VRF systems, the heat pump is projected to lead the VRF system market during the forecast period. The growing need for energy-efficient technology compared to conventional air- conditioning systems is anticipated to drive the growth of the VRF system market during the forecast period. In addition, the cost-effective installation of VRF systems and energy saving potential are also anticipated to increase the demand for VRF systems.
Commercial application accounted for the largest share of the VRF system market in 2016
The commercial application is likely to hold the largest share of the VRF system market during the forecast period owing to of the growing construction industry and easy installation of VRF systems. The ability to respond to fluctuations in space load conditions, flexibility and reliability of VRF systems lead to the high adoption of these systems for residential and commercial applications.
Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=155809495
VRF system market in North America expected to grow at the highest CAGR during forecast period
The VRF system market in North America is expected to grow at the highest CAGR between 2017 and 2023. The major factors driving the growth of the North American VRF system market are technological advancements, high energy efficiency, easy installation, low global warming potential, and booming commercial building construction sector. Moreover, increased awareness among building owners regarding various benefits associated with VRF technologies is also expected to boost the growth of the VRF system market in this region during the forecast period.
Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=155809495
The report profiles key players such as Daikin Industries (Japan), Mitsubishi Electric (Japan), Hitachi (Japan), Midea Group (China), United Technologies (US), Samsung Electronics (South Korea), Panasonic (Japan), Lennox International (US) and Ingersoll Rand (Ireland), Fujitsu General (Japan), and LG Electronics (South Korea) operating in the VRF system market.
Browse Related Reports
HVAC Controls Market by System (Temperature, Ventilation, Humidity & Integrated Controls), Component (Sensors and Controllers & Controlled Devices), Revenue Source (HVAC Controls & BEMS), Application, and Geography - Global Trend and Forecast to 2022
Building Automation System Market by Communication Technology (Wired, and Wireless), Offering (Facilities Management Systems, Security & Access Control Systems, and Fire Protection Systems), Application, and Region - Global Forecast to 2022
Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Connect us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets