US VRF System Market Revenue to cross US$ 4.90 Billion by 2031

Pressing Need for Energy Efficiency and Conservation Boosts US VRF System Market Size

According to our latest market study on "US VRF System Market Analysis and Forecast to 2031 – by Type, Component, and Application," the US VRF system market was valued at US$ 2.08 billion in 2023 and is anticipated to reach US$ 4.90 billion by 2031; it is estimated to record a CAGR of 11.3% from 2023 to 2031. The report includes growth prospects in light of current US VRF system market trends and driving factors influencing the market growth.

Growth of the US population and economy, combined with rising urbanization, is projected to cause a significant increase in energy demand in the country in the future. According to Worldometers, the US population has been constantly growing from 2021 to the present—82.4% of the population resides in urban areas as of September 2024. Meeting rapidly increasing energy demand while lowering detrimental greenhouse gas emissions presents a significant challenge for the energy system and government of the US. Thus, the need for devices and practices promoting energy efficiency and energy saving is on the rise in the country. VRF systems reuse waste/excess heat instead of discharging it into the environment; it is directed to other parts of the building that require heating, which saves energy and contributes to further waste reduction. A VRF system network is intended to provide an appropriate amount of refrigerant to the corresponding interior units. Operations without ducts improve the energy efficiency of these systems, as the loss of cool air through ducts accounts for more than 30% of total energy usage. The minimum energy consumption benefit of VRF systems can also be attributed to the fact that indoor units cool rooms according to current room circumstances, and the compressor's ability can be boosted or lowered to reduce energy utilization. Thus, VRF HVAC systems run less frequently and at a lower power. Further, these systems are made from a network of zones that heat and cool only those areas that are in use; this results in refrigerant flow and volume to the minimum required for each system and structure. The equipment quickly responds to changing loads and can be modified to meet specific requirements, which avoids the need to enlarge each terminal equipment item to accommodate each zone's peak load. 

VRF systems can be used in offices, hotels, hospitals, schools, and dormitories for specific zoning requirements. Companies are launching various VRF products to cater to the demand generated from different applications in the US. In June 2023, Mitsubishi Electric Trane HVAC US LLC (METUS)—a leading supplier of all-climate ductless and ducted mini-split and VRF heat pumps, and air-conditioning systems—introduced a hybrid VRF system, a cutting-edge two-pipe VRF zoning system designed to use water instead of refrigerant in indoor spaces. In the US, building owners, architects, and engineers focus on adapting energy-efficient technologies to ensure adherence to regulations for building energy-efficient infrastructure. Thus, an urge for energy efficiency and conservation bolsters the US VRF system market growth.

The scope of the US VRF system market report focuses on the following segments: component (indoor units, outdoor units, and control systems and accessories), system type (heat pump, heat recovery, and cooling only), and application (commercial, industrial, and residential). In terms of component, the outdoor units segment held the largest US VRF system market share in 2023. A unit located outside the building has a compressor, condenser, and expansion valve. It is accountable for the release of heat to the external environment. An outdoor unit contains one or more compressors that move refrigerants to the connected indoor units, wherein these substances flow through a series of coils or heat exchangers to distribute heating or cooling currents to the spaces served. The speed of compressors is controlled to deliver the amount of refrigerant that is needed to meet the cumulative demands of indoor units. This results in an enhanced part load energy efficiency of the system with respect to a conventional on-off compressor system. In addition, the outdoor units operate quietly with minimal noise. 

Based on system type, 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 a 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 wherein different areas typically require uniform temperature settings. Energy efficiency of heat pump systems can be ascribed to the use of variable-speed compressors that adjust the refrigerant flow based on demand. Moreover, they are simple to install and maintain compared to other complex VRF systems, propelling the US VRF system market growth. 

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 Plc, and Robert Bosch GmbH are among the key players profiled in the US VRF system market report. Several other major players were also studied and analyzed in the report to get a holistic view of the market and its ecosystem. The market analysis provides detailed market insights to help stakeholders strategize their growth.

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