Need for Energy-Efficient HVAC Systems Driving Variable Refrigerant Flow Systems(VRF) Market Growth

In 2017, the global variable refrigerant flow (VRF) systems market generated a revenue of $11,400.7 million and is predicted to advance at a 13.4% CAGR during the forecast period (2018-2023).

The market is growing because of the rising demand for energy-efficient heating, ventilation, and air conditioning (HVAC) systems and inclination toward state-of-the-art technology and modern controls.

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On the basis of system type, the VRF systems market is bifurcated into heat recovery systems and heat pump systems. The market was dominated by heat pump systems during the historical period (2013-2017), which are further expected to account for the major share of the market during the forecast period, in terms of value.

The reason for this is the disadvantages of heat recovery systems, even though they are capable of heating and cooling simultaneously. Moreover, heat pump VRF systems have a lower cost of acquisition, negligible design constraints, and lesser manufacturer limitations.

When application area is taken into consideration, the VRF systems market is categorized into residential, commercial, and others (which include airports, metro stations, and railway stations).

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Among these, the commercial category held the largest share of the market during the historical period, in terms of value, and is predicted to retain its position during the forecast period. This is due to the increasing construction activities and strict building regulations regarding energy efficiency.

A major driving factor of the VRF systems market is the growing demand for energy-efficient HVAC systems. Due to smart variable-speed compressor which runs only at a required capacity at a given temperature, VRF HVAC systems are energy-efficient in nature.

These systems allow simultaneous cooling and heating for different zones, because of which they run less frequently and at a lower capacity. In addition, VRF HVAC systems are designed to capture heat while it is cooling and reuse it in different areas that need heating.

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The VRF systems market is also witnessing growth due to the rising inclination toward state-of-the-art technology and modern controls. VRF HVAC are able to control temperatures of various zones as instead of one large unit for pumping air out, they have different air handlers which can be controlled individually as per the heating and cooling requirements.

Furthermore, the small-sized air handlers do not need as much wall and ceiling space for as the traditional systems. These features make VRF systems suitable for different settings, including office spaces, luxury apartments, restaurants, and retail stores.

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