Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "US VRF System Market Size and Forecast, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, System Type, and Application" report has been added to ResearchAndMarkets.com's offering.
The US VRF System Market size was valued at US$ 2.08 million in 2023 and is expected to reach US$ 4.90 billion by 2031. The US VRF System Market is estimated to record a CAGR of 11.3% from 2023 to 2031. 
The rapid urbanization and development of commercial, industrial, and residential projects drives the VRF systems market growth in the US. Compact size and flexibility are among the prominent advantages of these systems, owing to which they don't need large maintenance rooms or service shafts. Since VRF systems do not require ducts and use relatively small air handlers, they provide more flexibility for handler locations. Moreover, they don't need distribution fans and large pipes for the circulation of fluids and water pumps.
These systems have compact air handlers, which are quieter and smaller than those associated with large central units and extensive ductwork. Thus, residential and commercial buildings will not experience loud AC noise disrupting business. These advantages propel the demand for VRF systems in commercial, residential, and industrial buildings across the US.
The US government provides incentives to encourage the use of renewable resources and promote practices contributing to energy efficiency. The government emphasizes on monitoring HVAC system performance at regular intervals in response to rising concerns about global warming. Standardizing production procedures of HVAC systems and their components, such as VRF systems, i.e., the supply side, has significantly mitigated environmental risks and reduced the burden posed by efficiency criteria on the demand side. According to the US Energy Information Administration's report, projected changes in cooling degree days in the US are expected to drive a 71% increase in household cooling demand by 2050.
Commercial buildings are projected to see a 30% increase in cooling demand over the same period. In March 2023, the US finalized new energy efficiency standards for room air conditioners. These standards will go into effect in 2026 and are expected to result in reduced home electricity bills and carbon pollution. The VRF systems are widely used in such cases. Thus, global warming and the resulting harsh climatic conditions, the continuously growing real estate sector, and the desire for energy-efficient equipment contribute to the US VRF system market growth.
Based on system type, the market is categorized into heat pump, heat recovery, and cooling only. The heat pump segment held the largest US VRF System Market share in 2023. Heat pump VRF systems are the most common type and can either heat or cool a building, but they can't perform both of these functions simultaneously. In the heating mode, the system extracts heat from the outdoor air and transfers it indoors via the refrigerant. In cooling mode, it reverses the process, removing heat from the indoor air and releasing it outside. These systems are ideal for environments where heating or cooling is needed one at a time throughout the building.
For instance, these are used in office buildings, retail spaces, and residential buildings where different areas typically require uniform temperature settings. Heat pump systems are energy-efficient due to the use of a variable-speed compressor that adjusts the refrigerant flow based on demand. Moreover, they are simple to install and maintain compared to more complex VRF systems.
Fujitsu General, Daikin Industries, Carrier Global Corp., LG Electronics, Panasonic Holdings, Samsung Electronics, Mitsubishi Electric, Lennox International, Trane Technologies and Robert Bosch are among the prominent players profiled in the US VRF System Market report. Several other major players were also studied and analyzed in the US VRF System Market report to get a holistic view of the market and its ecosystem.
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the US VRF system market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the US VRF system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value (USD) in 2023 | $2.08 Billion |
| Forecasted Market Value (USD) by 2031 | $4.9 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | United States |
Key Topics Covered:
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
3. Research Methodology
4. US VRF System Market Landscape
4.1 Overview
4.2 PEST Analysis
5. US VRF System Market - Key Market Dynamics
5.1 US VRF System Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Pressing Need for Energy Efficiency and Conservation
5.2.2 Diversifying Applications Across Various Industries
5.3 Market Restraints
5.3.1 Elevated Upfront Costs
5.4 Market Opportunities
5.4.1 Pipeline of High-End Construction Projects
5.4.2 Explicit Regulatory Standards
5.5 Market Trends
5.5.1 Pairing Building Automation and VRF Systems
5.6 Impact of Drivers and Restraints
6. US VRF System Market Analysis
6.1 US VRF System Market Revenue (US$ Million), 2021-2031
6.2 US VRF System Market Forecast and Analysis
7. US VRF System Market Analysis - by Component
7.1 Indoor Units
7.2 Outdoor Units
7.3 Control Systems and Accessories
8. US VRF System Market Analysis - by System Type
8.1 Heat Pump
8.2 Heat Recovery
8.3 Cooling Only
9. US VRF System Market Analysis - by Applications
9.1 Commercial
9.2 Industrial
9.3 Residential
10. Competitive Landscape
10.1 Company Positioning & Concentration
10.2 Heat Map Analysis By Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
- FUJITSU GENERAL
- Daikin Industries Ltd
- Carrier Global Corp.
- LG Electronics Inc
- Panasonic Holdings Corp.
- Samsung Electronics Co Ltd.
- Mitsubishi Electric Corp.
- Lennox International Inc.
- Trane Technologies
- Robert Bosch
For more information about this report visit https://www.researchandmarkets.com/r/h4gk3i
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