VRF System Quadrant Report

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VRF System Market (Global) Company Evaluation Quadrant
Published on
Apr'2020
Pages
66
Code
360-SE 4444
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A VRF system is an air-conditioning system that consists of an outdoor unit (composing one or multiple compressors), multiple indoor units, and control systems and accessories. Variable refrigerant flow refers to the ability of the system to control the amount of refrigerant flowing to multiple evaporators (indoor units), enabling the use of many evaporators with different capacities and configurations connected to a single condensing unit.

The global VRF system market is expected to reach USD 32 billion by 2025. Increasing growth in the construction industry leading to easing of FDI norms for the construction and real estate sectors, high energy-saving potential and minimum maintenance requirements of VRF systems, and availability of technologically advanced refrigerants for air conditioning and heat pump solutions are the key factors driving the growth of this market.

This report identifies and benchmarks the key market players in the VRF System market such as Daikin (Japan), Toshiba (Japan), Mitsubishi Electric (Japan), Midea Group (China), and Johnson Controls (US), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the VRF System market ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant,’ and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies.

The report includes market-specific company profiles of Top 17 companies in the VRF System market. It assesses the recent developments that shape the competitive landscape of this highly fragmented market.


List of Top 17 companies in the VRF System market evaluated and profiled in the report:

  • DAIKIN
  • ELECTROLUX
  • EMERSON
  • FUJITSU
  • GREE
  • INGERSOLL RAND
  • JOHNSON CONTROLS
  • LENNOX
  • LG ELECTRONICS
  • MIDEA GROUP
  • MITSUBISHI ELECTRIC
  • NORTEK
  • PANASONIC
  • SAMSUNG ELECTRONICS
  • TOSHIBA
  • UNITED TECHNOLOGIES
  • WHIRLPOOL

Table of Contents

1 Introduction
   1.1 Market Definition
         1.1.1 Inclusions and Exclusions

2 Market Overview
   2.1 Introduction
   2.2 Market Dynamics
         2.2.1 VRF System Market Drivers and Their Impact
                   2.2.1.1 Growing Construction Industry and Easing of Norms of FDI for Construction and Real Estate Sectors
                   2.2.1.2 High Energy-Saving Potential as Well as Easy and Minimum Maintenance Requirements of VRF Systems
                   2.2.1.3 Focus of Major Players on Providing Technologically Advanced Refrigerants for Air Conditioning and Heat Pump Solutions
                   2.2.1.4 Government Incentives Through Tax Credit Programs
                   2.2.1.5 Regulations and Policies of EU Government Pertaining to Construction Products
         2.2.2 VRF System Market Restraints and Their Impact
                   2.2.2.1 High Installation Cost
         2.2.3 VRF System Market Opportunities and Their Impact
                   2.2.3.1 Significant Opportunities in Developing Countries
                   2.2.3.2 Increasing Penetration of VRF Systems in Residential and Commercial Applications
         2.2.4 VRF System Market Challenges and Their Impact
                   2.2.4.1 Harmful Environmental Impacts of Refrigerant Leaks
                   2.2.4.2 Lack of Awareness Regarding VRF Systems in Developing Countries
   2.3 Impact of Covid-19 on VRF System Market
   2.4 Value Chain Analysis
          Figure 1 Major Value is Added By Manufacturers, System Integrators, and Consultants of VRF System

3 Company Evaluation Quadrant
   3.1 Visionary Leaders
   3.2 Innovators
   3.3 Dynamic Differentiators
   3.4 Emerging Companies
          Figure 2 VRF System Market (Global) Company Evaluation Quadrant
   3.5 Strength of Product Portfolio (For 25 Companies)
          Figure 3 Product Portfolio Analysis of Top Players in VRF System Market
   3.6 Business Strategy Excellence (For 25 Companies)
          Figure 4 Business Strategy Excellence of Top Players in VRF System Market

4 Competitive Landscape
   4.1 Overview
          Figure 5 Key Developments in VRF System Market (2017 to 2019)
   4.2 Market Ranking Analysis: VRF System Market
          Figure 6 Ranking of Key Players in VRF System Market, 2019
   4.3 Right to Win
   4.4 Competitive Situations and Trends
         4.4.1 Collaborations, Agreements, and Partnerships
                   Table 1 Collaborations, Agreements, and Partnerships, 2017–2019
         4.4.2 Expansions, Product Launches, and Developments
                   Table 2 Expansions, Product Launches and Developments, 2017–2019
         4.4.3 Acquisitions
                   Table 3 Acquisitions, 2017–2019

5 Company Profiles
   5.1 Key Players
         5.1.1 Daikin
                   5.1.1.1 Business Overview*
                                Figure 7 Daikin: Company Snapshot
                   5.1.1.2 Products Offered*
                   5.1.1.3 Recent Developments*
                   5.1.1.4 SWOT Analysis*
                   5.1.1.5 MnM View*
                   (*Above sections are present for all of below companies)
         5.1.2 Toshiba
                   Figure 8 Toshiba: Company Snapshot
         5.1.3 Mitsubishi Electric
                   Figure 9 Mitsubishi Electric: Company Snapshot
         5.1.4 Midea Group
                   Figure 10 Midea Group: Company Snapshot
         5.1.5 Johnson Controls
                   Figure 11 Johnson Controls: Company Snapshot
         5.1.6 LG Electronics
                   Figure 12 LG Electronics: Company Snapshot
         5.1.7 Fujitsu
                   Figure 13 Fujitsu: Company Snapshot
         5.1.8 United Technologies
                   Figure 14 United Technologies: Company Snapshot
         5.1.9 Ingersoll Rand
                   Figure 15 Ingersoll Rand: Company Snapshot
         5.1.10 Lennox
                     Figure 16 Lennox: Company Snapshot
         5.1.11 Panasonic
                     Figure 17 Panasonic: Company Snapshot
         5.1.12 Samsung Electronics
                     Figure 18 Samsung Electronics: Company Snapshot

6 Appendix
   6.1 Other Significant Players
         6.1.1 Nortek
         6.1.2 Gree
         6.1.3 Emerson
         6.1.4 Electrolux
         6.1.5 Whirlpool
   6.2 Methodology

This report identifies and benchmarks the VRF System market leaders such as Daikin (Japan), Toshiba (Japan), Mitsubishi Electric (Japan), Midea Group (China), and Johnson Controls (US) and evaluates them on the basis of business strategy excellence and strength of product portfolio within the VRF System market ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant,’ and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies.

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