List of Figures

FIGURE 1 VRF SYSTEM MARKET SEGMENTATION 14
FIGURE 2 VRF SYSTEM MARKET SEGMENTATION, BY REGION 15
FIGURE 3 VRF SYSTEM MARKET: RESEARCH DESIGN 17
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 22
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 24
FIGURE 6 MARKET BREAKDOWN AND DATA TRIANGULATION 25
FIGURE 7 ASSUMPTIONS FOR RESEARCH STUDY 26
FIGURE 8 GLOBAL VRF SYSTEM MARKET SIZE ESTIMATION IN TERMS OF VALUE AND VOLUME FOR THE FORECAST PERIOD 27
FIGURE 9 OUTDOOR UNITS TO HOLD THE LARGEST SIZE OF THE
VRF SYSTEM MARKET BY 2023 28
FIGURE 10 COMMERCIAL BUILDING APPLICATION TO ACCOUNT FOR THE LARGEST SHARE OF THE VRF SYSTEM MARKET BY 2023 29
FIGURE 11 VRF HEAT PUMP SYSTEMS TO HOLD A MAJOR SIZE OF THE
VRF SYSTEM MARKET BY 2023 29
FIGURE 12 REGIONAL SCENARIO OF THE VRF SYSTEM MARKET IN 2016 30
FIGURE 13 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION ESTIMATED TO GROW AT THE HIGHEST RATE BETWEEN 2017 AND 2023 32
FIGURE 14 US TO DOMINATE THE NORTH AMERICAN VRF SYSTEMS MARKET 33
FIGURE 15 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION REGISTERED THE LARGEST SHIPMENT IN 2016 33
FIGURE 16 CHINA HELD THE LARGEST SHARE OF THE GLOBAL VRF SYSTEM MARKET IN 2016 34
FIGURE 17 VRF HEAT PUMP SYSTEMS HELD A LARGER MARKET SHARE IN 2016 34
FIGURE 18 VRF HEAT PUMP SYSTEM REGISTERED HIGHEST SHIPMENT IN 2016 35
FIGURE 19 OUTDOOR UNITS HELD THE LARGEST MARKET SIZE DURING FORECAST PERIOD 35
FIGURE 20 OUTDOOR UNITS REGISTERED HIGHEST SHIPMENT FOR CAPACITY RANGE BETWEEN 11 AND 18 TON IN 2016 36
FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND THREATS 37
FIGURE 22 GLOBAL CONSTRUCTION SPENDING BY REGION IN 2016 38
FIGURE 23 VALUE CHAIN ANALYSIS: MAXIMUM VALUE IS ADDED BY MANUFACTURERS, SYSTEM INTEGRATORS, AND CONSULTANTS 42
FIGURE 24 GLOBAL VRF SYSTEM MARKET, BY COMPONENT, 2017 VS. 2023 (USD BILLION) 44
FIGURE 25 MARKET FOR VRF SYSTEMS HAVING CAPACITY ABOVE 26 TONS TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 45
FIGURE 26 VRF SYSTEM MARKET FOR OUTDOOR UNITS IN NORTH AMERICA TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 46
FIGURE 27 APAC TO ACCOUNT FOR THE LARGEST SIZE OF THE VRF SYSTEM MARKET FOR OUTDOOR UNITS BY 2023 49
FIGURE 28 APAC TO HOLD THE LARGEST SIZE OF THE VRF SYSTEM MARKET FOR CONTROL SYSTEMS AND ACCESSORIES BY 2023 51
FIGURE 29 VRF SYSTEM MARKET, BY SYSTEM TYPE, 2017–2023 (USD BILLION) 53
FIGURE 30 VRF HEAT PUMP SYSTEM MARKET, BY REGION, 2017 VS. 2023 (USD MILLION) 55
FIGURE 31 VRF HEAT PUMP SYSTEM MARKET, BY APPLICATION 2017 VS. 2023 (USD MILLION) 56
FIGURE 32 VRF HEAT RECOVERY SYSTEM MARKET, BY REGION 2017 VS. 2023 (USD MILLION) 58
FIGURE 33 VRF HEAT RECOVERY SYSTEM MARKET, BY APPLICATION 2017 VS. 2023 (USD MILLION) 59
FIGURE 34 RESIDENTIAL APPLICATION EXPECTED TO GROW AT THE FASTEST RATE DURING THE FORECAST PERIOD 61
FIGURE 35 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 63
FIGURE 36 HEAT RECOVERY SYSTEMS TO HOLD THE LARGEST SIZE OF THE VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN EUROPE BY 2023 65
FIGURE 37 APAC TO ACCOUNT FOR THE LARGEST SIZE OF THE VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION BY 2023 69
FIGURE 38 VRF HEAT PUMP SYSTEMS TO HOLD A LARGER SIZE OF THE NORTH AMERICAN MARKET FOR RESIDENTIAL APPLICATION BY 2023 71
FIGURE 39 APAC TO HOLD THE LARGEST SIZE OF THE VRF SYSTEM MARKET FOR OTHER APPLICATIONS BY 2023 73
FIGURE 40 MARKET FOR VRF HEAT RECOVERY SYSTEMS FOR OTHER APPLICATIONS TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD 75
FIGURE 41 VRF SYSTEM MARKET: GEOGRAPHIC SNAPSHOT (2017–2023) 79
FIGURE 42 VRF SYSTEM MARKET SNAPSHOT IN NORTH AMERICA 82
FIGURE 43 VRF SYSTEM MARKET SNAPSHOT IN EUROPE 87
FIGURE 44 VRF SYSTEM MARKET SNAPSHOT IN APAC 93
FIGURE 45 COMPANIES ADOPTED PRODUCT LAUNCHES AND DEVELOPMENTS AS KEY GROWTH STRATEGIES BETWEEN 2014 AND 2017 102
FIGURE 46 GEOGRAPHIC REVENUE MIX OF TOP 5 MARKET PLAYERS (2016) 108
FIGURE 47 DAIKIN INDUSTRIES: COMPANY SNAPSHOT 109
FIGURE 48 JOHNSON CONTROLS: COMPANY SNAPSHOT 112
FIGURE 49 LG ELECTRONICS: COMPANY SNAPSHOT 115
FIGURE 50 TOSHIBA: COMPANY SNAPSHOT 118
FIGURE 51 FUJITSU GROUP: COMPANY SNAPSHOT 121
FIGURE 52 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT 124
FIGURE 53 MIDEA GROUP: COMPANY SNAPSHOT 127
FIGURE 54 UNITED TECHNOLOGIES: COMPANY SNAPSHOT 130
FIGURE 55 INGERSOLL RAND: COMPANY SNAPSHOT 133
FIGURE 56 LENNOX INTERNATIONAL: COMPANY SNAPSHOT 136
FIGURE 57 PANASONIC: COMPANY SNAPSHOT 139
FIGURE 58 SAMSUNG ELECTRONICS: COMPANY SNAPSHOT 142

 

List of Tables

TABLE 1 VRF SYSTEM MARKET, BY COMPONENT, 2014–2023 (USD BILLION) 44
TABLE 2 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY 2014–2023 (USD BILLION) 45
TABLE 3 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY 2014–2023 (THOUSAND UNITS) 46
TABLE 4 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY REGION 2014–2023 ( USD MILLION) 47
TABLE 5 VRF SYSTEM MARKET FOR INDOOR UNITS, BY REGION 2014–2023 (USD MILLION) 49
TABLE 6 VRF SYSTEM MARKET FOR CONTROL SYSTEMS AND ACCESSORIES BY REGION, 2014–2023 (USD MILLION) 51
TABLE 7 VRF SYSTEM MARKET, BY SYSTEM TYPE, 2014–2023 (USD BILLION) 53
TABLE 8 VRF SYSTEM MARKET, BY SYSTEM TYPE, 2014–2023 (THOUSAND UNITS) 54
TABLE 9 VRF HEAT PUMP SYSTEM MARKET, BY REGION, 2014–2023 (USD MILLION) 55
TABLE 10 VRF HEAT PUMP SYSTEM MARKET, BY APPLICATION, 2014–2023 (USD MILLION) 56
TABLE 11 VRF HEAT RECOVERY SYSTEM MARKET, BY REGION, 2014–2023 (USD MILLION) 58
TABLE 12 VRF HEAT RECOVERY SYSTEM MARKET, BY APPLICATION 2014–2023 (USD MILLION) 59
TABLE 13 VRF SYSTEM MARKET, BY APPLICATION, 2014–2023 (USD MILLION) 61
TABLE 14 VRF SYSTEM MARKET, BY APPLICATION, 2014–2023 (THOUSAND UNITS) 62
TABLE 15 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION 2014–2023 (USD MILLION) 63
TABLE 16 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION 2014–2023 (THOUSAND UNITS) 64
TABLE 17 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY SYSTEM TYPE 2014–2023 (USD MILLION) 64
TABLE 18 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA BY SYSTEM TYPE, 2014–2023 (USD MILLION) 65
TABLE 19 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 66
TABLE 20 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 66
TABLE 21 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 66
TABLE 22 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION 2014–2023 (USD MILLION) 70
TABLE 23 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION 2014–2023 (THOUSAND UNITS) 70
TABLE 24 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY SYSTEM TYPE 2014–2023 (USD MILLION) 71
TABLE 25 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA BY SYSTEM TYPE, 2014–2023 (USD MILLION) 71
TABLE 26 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN EUROPE, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 72
TABLE 27 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN APAC, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 72
TABLE 28 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN ROW, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 72
TABLE 29 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION 2014–2023 (USD MILLION) 74
TABLE 30 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION 2014–2023 (THOUSAND UNITS) 74
TABLE 31 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY SYSTEM TYPE 2014–2023 (USD MILLION) 75
TABLE 32 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 75
TABLE 33 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN EUROPE, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 76
TABLE 34 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN APAC, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 76
TABLE 35 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN ROW, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 77
TABLE 36 VRF SYSTEM MARKET, BY REGION, 2014–2023 (USD BILLION) 80
TABLE 37 VRF SYSTEM MARKET, BY REGION, 2014–2023 (THOUSAND UNITS) 80
TABLE 38 VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY 2014–2023 (USD MILLION) 83
TABLE 39 VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY 2014–2023 (THOUSAND UNITS) 83
TABLE 40 VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION 2014–2023 (USD MILLION) 84
TABLE 41 VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION 2014–2023 (THOUSAND UNITS) 84
TABLE 42 VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE 2014–2023 (USD MILLION) 84
TABLE 43 VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE 2014–2023 (THOUSAND UNITS) 85
TABLE 44 VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2014–2023 (USD MILLION) 88
TABLE 45 VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2014–2023 (THOUSAND UNITS) 88
TABLE 46 VRF SYSTEM MARKET IN EUROPE, BY APPLICATION, 2014–2023 (USD MILLION) 89
TABLE 47 VRF SYSTEM MARKET IN EUROPE, BY APPLICATION 2014–2023 (THOUSAND UNITS) 89
TABLE 48 VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 89
TABLE 49 VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE 2014–2023 (THOUSAND UNITS) 90
TABLE 50 VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2014–2023 (USD MILLION) 94
TABLE 51 VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2014–2023 (THOUSAND UNITS) 94
TABLE 52 VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2014–2023 (USD MILLION) 95
TABLE 53 VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2014–2023 (THOUSAND UNITS) 95
TABLE 54 VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 95
TABLE 55 VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2014–2023 (THOUSAND UNITS) 96
TABLE 56 VRF SYSTEM MARKET IN ROW, BY REGION, 2014–2023 (USD MILLION) 98
TABLE 57 VRF SYSTEM MARKET IN ROW, BY REGION, 2014–2023 (THOUSAND UNITS) 98
TABLE 58 VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2014–2023 (USD MILLION) 99
TABLE 59 VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2014–2023 (THOUSAND UNITS) 99
TABLE 60 VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2014–2023 (USD MILLION) 99
TABLE 61 VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2014–2023 (THOUSAND UNITS) 100
TABLE 62 RANKING OF TOP 5 PLAYERS IN THE VRF SYSTEM MARKET, 2016 103
TABLE 63 PRODUCT LAUNCHES AND DEVELOPMENTS, 2015–2017 105
TABLE 64 ACQUISITION & MERGERS, 2015–2017 106
TABLE 65 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2015–2017 106
TABLE 66 EXPANSIONS, 2015–2017 107