LIST OF TABLES

TABLE 1 VRF SYSTEM MARKET, BY COMPONENT, 2018–2025 (USD BILLION) 47
TABLE 2 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY REGION, 
2018–2025 (USD MILLION) 48
TABLE 3 VRF SYSTEM MARKET FOR INDOOR UNITS, BY REGION, 
2018–2025 (USD MILLION) 50
TABLE 4 VRF SYSTEM MARKET FOR CONTROL SYSTEMS AND ACCESSORIES, 
BY REGION,  2018–2025 (USD MILLION) 51
TABLE 5 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY, 
2018–2025 (USD MILLION) 53
TABLE 6 VRF SYSTEM MARKET FOR OUTDOOR UNITS, BY CAPACITY,  
2018–2025 (THOUSAND UNITS) 54
TABLE 7 VRF SYSTEM MARKET, BY SYSTEM TYPE, 2018–2025 (USD MILLION) 56
TABLE 8 VRF SYSTEM MARKET, BY SYSTEM TYPE, 2018–2025 (THOUSAND UNITS) 57
TABLE 9 VRF HEAT PUMP SYSTEMS MARKET, BY REGION, 2018–2025 (USD MILLION) 58
TABLE 10 VRF HEAT PUMP SYSTEMS MARKET, BY APPLICATION, 2018–2025 (USD MILLION) 58
TABLE 11 VRF HEAT RECOVERY SYSTEMS MARKET, BY REGION, 2018–2025 (USD MILLION) 59
TABLE 12 VRF HEAT RECOVERY SYSTEMS MARKET, BY APPLICATION, 
2018–2025 (USD MILLION) 60
TABLE 13 VRF SYSTEM MARKET, BY APPLICATION, 2018–2025 (USD MILLION) 63
TABLE 14 VRF SYSTEM MARKET, BY APPLICATION, 2018–2025 (THOUSAND UNITS) 64
TABLE 15 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION,  
2018–2025 (USD MILLION) 66
TABLE 16 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY REGION,  
2018–2025 (THOUSAND UNITS) 66
TABLE 17 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY SYSTEM TYPE,  
2018–2025 (USD MILLION) 66
TABLE 18 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA,  
BY SYSTEM TYPE, 2018–2025 (USD MILLION) 67
TABLE 19 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN EUROPE, 
BY SYSTEM TYPE, 2018–2025 (USD MILLION) 67
TABLE 20 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN APAC, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 67
TABLE 21 VRF SYSTEM MARKET FOR COMMERCIAL APPLICATION IN ROW, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 67
TABLE 22 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION,  
2018–2025 (USD MILLION) 68
TABLE 23 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY REGION,  
2018–2025 (THOUSAND UNITS) 69
TABLE 24 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY SYSTEM TYPE,  
2018–2025 (USD MILLION) 69
TABLE 25 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, 
BY SYSTEM TYPE, 2018–2025 (USD MILLION) 69
TABLE 26 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN EUROPE, 
BY SYSTEM TYPE, 2018–2025 (USD MILLION) 69
TABLE 27 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN APAC, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 70
TABLE 28 VRF SYSTEM MARKET FOR RESIDENTIAL APPLICATION IN ROW, 
BY SYSTEM TYPE,  2018–2025 (USD MILLION) 70
TABLE 29 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION,  
2018–2025 (USD MILLION) 71
TABLE 30 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY REGION,  
2018–2025 (THOUSAND UNITS) 71
TABLE 31 VRF SYSTEM MARKET FOR OTHER APPLICATIONS, BY SYSTEM TYPE,  
2018–2025 (USD MILLION) 71
TABLE 32 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY SYSTEM TYPE, 2018–2025 (USD MILLION) 72
TABLE 33 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN EUROPE, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 72
TABLE 34 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN APAC, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 72
TABLE 35 VRF SYSTEM MARKET FOR OTHER APPLICATIONS IN ROW, BY SYSTEM TYPE,  2018–2025 (USD MILLION) 72
TABLE 36 VRF SYSTEM MARKET, BY REGION, 2018–2025 (USD MILLION) 75
TABLE 37 VRF SYSTEM MARKET, BY REGION, 2018–2025 (THOUSAND UNITS) 75
TABLE 38 VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 
2018–2025 (USD MILLION) 78
TABLE 39 VRF SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 
2018–2025 (THOUSAND UNITS) 78
TABLE 40 VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION, 
2018–2025 (USD MILLION) 79
TABLE 41 VRF SYSTEM MARKET IN NORTH AMERICA, BY APPLICATION,  
2018–2025 (THOUSAND UNITS) 79
TABLE 42 VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 
2018–2025 (USD MILLION) 80
TABLE 43 VRF SYSTEM MARKET IN NORTH AMERICA, BY SYSTEM TYPE,  
2018–2025 (THOUSAND UNITS) 80
TABLE 44 VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2018–2025 (USD MILLION) 82
TABLE 45 VRF SYSTEM MARKET IN EUROPE, BY COUNTRY, 2018–2025 (THOUSAND UNITS) 83
TABLE 46 VRF SYSTEM MARKET IN EUROPE, BY APPLICATION, 2018–2025 (USD MILLION) 85
TABLE 47 VRF SYSTEM MARKET IN EUROPE, BY APPLICATION, 
2018–2025 (THOUSAND UNITS) 86
TABLE 48 VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE, 2018–2025 (USD MILLION) 86
TABLE 49 VRF SYSTEM MARKET IN EUROPE, BY SYSTEM TYPE, 
2018–2025 (THOUSAND UNITS) 86
TABLE 50 VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2018–2025 (USD MILLION) 88
TABLE 51 VRF SYSTEM MARKET IN APAC, BY COUNTRY, 2018–2025 (THOUSAND UNITS) 89
TABLE 52 VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2018–2025 (USD MILLION) 91
TABLE 53 VRF SYSTEM MARKET IN APAC, BY APPLICATION, 2018–2025 (THOUSAND UNITS) 91
TABLE 54 VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2018–2025 (USD MILLION) 92
TABLE 55 VRF SYSTEM MARKET IN APAC, BY SYSTEM TYPE, 2018–2025 (THOUSAND UNITS) 92
TABLE 56 VRF SYSTEM MARKET IN ROW, BY REGION, 2018–2025 (USD MILLION) 93
TABLE 57 VRF SYSTEM MARKET IN ROW, BY REGION, 2018–2025 (THOUSAND UNITS) 93
TABLE 58 VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2018–2025 (USD MILLION) 95
TABLE 59 VRF SYSTEM MARKET IN ROW, BY APPLICATION, 2018–2025 (THOUSAND UNITS) 95

TABLE 60 VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2018–2025 (USD MILLION) 96
TABLE 61 VRF SYSTEM MARKET IN ROW, BY SYSTEM TYPE, 2018–2025 (THOUSAND UNITS) 96
TABLE 62 COLLABORATIONS, AGREEMENTS, AND PARTNERSHIPS, 2017–2019 104
TABLE 63 EXPANSIONS, PRODUCT LAUNCHES AND DEVELOPMENTS, 2017–2019 105
TABLE 64 ACQUISITIONS, 2017–2019 107

LIST OF FIGURES

FIGURE 1 VRF SYSTEM MARKET SEGMENTATION 17
FIGURE 2 VRF SYSTEM MARKET: RESEARCH DESIGN 21
FIGURE 3 VRF SYSTEM MARKET: BOTTOM-UP APPROACH 26
FIGURE 4 VRF SYSTEM MARKET: TOP-DOWN APPROACH 27
FIGURE 5 DATA TRIANGULATION 28
FIGURE 6 CONTROL SYSTEMS AND ACCESSORIES TO WITNESS HIGHEST CAGR IN VRF SYSTEM MARKET DURING FORECAST PERIOD 31
FIGURE 7 HEAT RECOVERY SYSTEMS TO WITNESS HIGHER CAGR IN VRF SYSTEM MARKET DURING FORECAST PERIOD 31
FIGURE 8 RESIDENTIAL APPLICATION TO REGISTER HIGHEST CAGR IN VRF SYSTEM MARKET DURING FORECAST PERIOD 32
FIGURE 9 ASIA PACIFIC TO LEAD VRF SYSTEM MARKET FROM 2020 TO 2025 33
FIGURE 10 GROWING CONSTRUCTION INDUSTRY AND HIGH ENERGY-SAVING POTENTIAL  
OF VRF SYSTEMS TO BOOST MARKET GROWTH 34
FIGURE 11 OUTDOOR UNITS TO HOLD MAJOR SHARE OF VRF SYSTEM MARKET DURING FORECAST PERIOD 34
FIGURE 12 HEAT PUMP SYSTEMS TO ACCOUNT FOR LARGER SIZE OF VRF SYSTEM  
MARKET IN 2020 35
FIGURE 13 COMMERCIAL APPLICATION TO HOLD LARGEST SIZE OF VRF SYSTEM  
MARKET IN 2025 35
FIGURE 14 ASIA PACIFIC TO HOLD LARGEST SIZE OF VRF SYSTEM MARKET 
DURING FORECAST PERIOD 36
FIGURE 15 MAJOR VALUE IS ADDED BY MANUFACTURERS, SYSTEM INTEGRATORS,  
AND CONSULTANTS OF VRF SYSTEM 43
FIGURE 16 VRF SYSTEM MARKET, BY COMPONENT 46
FIGURE 17 CONTROL SYSTEMS AND ACCESSORIES TO WITNESS HIGHEST CAGR 
IN VRF SYSTEM MARKET DURING FORECAST PERIOD 46
FIGURE 18 VRF SYSTEM MARKET, BY CAPACITY 53
FIGURE 19 VRF OUTDOOR UNITS WITH A CAPACITY OF MORE THAN 26 TONS TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 53
FIGURE 20 VRF SYSTEM MARKET, BY SYSTEM TYPE 56
FIGURE 21 HEAT RECOVERY SYSTEMS TO REGISTER HIGHER CAGR IN VRF SYSTEM MARKET DURING FORECAST PERIOD 56
FIGURE 22 VRF SYSTEM MARKET, BY APPLICATION 63
FIGURE 23 RESIDENTIAL APPLICATION TO WITNESS HIGHEST CAGR IN VRF SYSTEM MARKET DURING FORECAST PERIOD 63
FIGURE 24 GEOGRAPHIC SNAPSHOT: MEXICO TO REGISTER HIGHEST CAGR IN VRF SYSTEM MARKET FROM 2020 TO 2025 74
FIGURE 25 VRF SYSTEM MARKET IN NORTH AMERICA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 75
FIGURE 26 SNAPSHOT: VRF SYSTEM MARKET IN NORTH AMERICA 77
FIGURE 27 MEXICO TO RECORD HIGHEST CAGR IN VRF SYSTEM MARKET IN NORTH AMERICA DURING FORECAST PERIOD 77
FIGURE 28 SNAPSHOT: VRF SYSTEM MARKET IN EUROPE 81
FIGURE 29 VRF SYSTEM MARKET IN REST OF EUROPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 82
FIGURE 30 SNAPSHOT: VRF SYSTEM MARKET IN APAC 87
FIGURE 31 VIETNAM TO RECORD HIGHEST CAGR IN VRF SYSTEM MARKET IN 
APAC DURING FORECAST PERIOD 88
FIGURE 32 REST OF SOUTH AMERICA TO RECORD HIGHEST CAGR IN VRF SYSTEM MARKET 
IN ROW DURING FORECAST PERIOD 92
FIGURE 33 KEY DEVELOPMENTS IN VRF SYSTEM MARKET (2017 TO 2019) 98
FIGURE 34 RANKING OF KEY PLAYERS IN VRF SYSTEM MARKET, 2019 99
FIGURE 35 VRF SYSTEM MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019 101
FIGURE 36 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN VRF SYSTEM MARKET 102
FIGURE 37 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN VRF SYSTEM MARKET 103
FIGURE 38 DAIKIN: COMPANY SNAPSHOT 109
FIGURE 39 TOSHIBA: COMPANY SNAPSHOT 112
FIGURE 40 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT 115
FIGURE 41 MIDEA GROUP: COMPANY SNAPSHOT 118
FIGURE 42 JOHNSON CONTROLS: COMPANY SNAPSHOT 121
FIGURE 43 LG ELECTRONICS: COMPANY SNAPSHOT 124
FIGURE 44 FUJITSU: COMPANY SNAPSHOT 126
FIGURE 45 UNITED TECHNOLOGIES: COMPANY SNAPSHOT 128
FIGURE 46 INGERSOLL RAND: COMPANY SNAPSHOT 130
FIGURE 47 LENNOX: COMPANY SNAPSHOT 133
FIGURE 48 PANASONIC: COMPANY SNAPSHOT 135
FIGURE 49 SAMSUNG ELECTRONICS: COMPANY SNAPSHOT 137