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VRF Systems Market Outlook (2023 to 2033)

The global VRF systems market is likely to surpass a valuation of US$ 15,602.9 million in 2023, and the demand is expected to surge at a CAGR of 6.0% from 2023 to 2033. By 2033, the market is anticipated to hit a valuation of US$ 27,942.5 million.

The increasing awareness of energy conservation, rising disposable income, along with rising energy costs are some of the factors anticipated to drive the VRF systems market growth. However, the global VRF systems market share is expected to be significantly hampered due to the lack of awareness regarding VRF systems in developing countries. On the other hand, web-based services to calculate fluorocarbon leak volumes are creating significant opportunities, boosting the sales of variable refrigerant flow systems.

The major VRF system working principle is to maintain precise temperature control, along with useful info units that can be acquired through the adoption of VRF systems to ensure a comfortable and productive work environment. Additionally, VRF manufacturers are producing systems that are user-friendly and offer control through LCD touchscreens to centrally manage air conditioning systems that combine central air conditioning and VRF system components.

The low cost of implementing heating, ventilation, and air conditioning (HVAC) systems is anticipated to boost the demand for variable refrigerant flow systems during the forecast period. Among the advantages of VRF systems, they save 40% of energy compared to VAV electric coils. Furthermore, a variable refrigerant flow system offers special benefits to small buildings compared to features in high-end building automation systems. This is owing to its ability to utilize less energy consumption.

Old buildings are well suited for variable refrigerant flow (VRF) systems as a replacement for prevailing equipment. To save overall operational costs, hotels rely on VRF systems, which are likely to increase the sales of variable refrigerant flow systems throughout 2033.

Attributes Details
VRF Systems Market Share (2022) US$ 14,678.2 million
VRF Systems Market Share (2023) US$ 15,602.9 million
VRF Systems Market Share (2033) US$ 27,942.5 million
VRF Systems Market Share (2023 to 2033) 6.0%

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What are the Key Aspects that Drive the VRF Systems Market?

The rising demand for energy-efficient resources across the globe is one of the key aspects propelling the VRF systems market growth. Moreover, the minimal norms of FDI for construction and real estate sectors, along with the rise in the construction industry, are anticipated to propel the demand for variable refrigerant flow systems.

The minimum maintenance requirement of VRF systems, as well as high energy-saving potential, are expected to increase the VRF systems market size. Furthermore, technologically advanced refrigerants for air conditioning and heat pump solutions offered to consumers owing to their growing emphasis, are anticipated to drive the sales of variable refrigerant flow systems. Also, rising awareness of the environmental impact of VRF systems, increasing urbanization, digitization, and tax credit programs surging government incentives are expected to positively affect the VRF systems market outlook.

There is minimal ablation and reduced breakdowns of the VRF systems with variable speed compressors and compatibility at partial load conditions. Therefore, in places where zoning is a requirement, VRF systems are in high demand owing to their reduced downtime.

What are the Factors that Obstruct the VRF Systems Market?

The constant maintenance due to the concentration limits of refrigerants, as a result of guidelines shared by ASHRAE, is likely to impede market growth. Moreover, the high costs associated with the installation of VRF systems are expected to further affect its demand.

VRF manufacturers are likely to face significant challenges due to design complexities. Additionally, refrigerant leaks cause concern for harmful environmental impacts, which is likely to further hamper the VRF systems market growth. As incorrect installation can affect the overall functioning of the system, the complicated, tedious, and expensive installation of VRF systems is anticipated to curb the sales of variable refrigerant flow systems.

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Nikhil Kaitwade

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What are the Revenue Generating Opportunities of the VRF Systems Market?

The growing penetration of VRF systems in commercial and residential applications is anticipated to expand the VRF systems market size. Furthermore, the increased adoption of VRF systems in the industrial sector is due to excellent services, high air-conditioning performance, and long product life under harsh conditions.

Region-wise Insights

What is the Regional Analysis of the VRF Systems Market?

Asia Pacific VRF Systems Market

Asia Pacific is the leading VRF systems market. This is owing to the high presence of key manufacturers of VRF systems, especially in Japan. The Middle East & Africa are significantly contributing to the market growth due to heavy investments in the building and construction sector.

Urbanization and growing demand for high-tech devices such as wireless and connected devices in this region are expected to accelerate the global market growth. Furthermore, the growth of commercial buildings, offices, and hospitals in this region is also likely to further boost the sales of variable refrigerant flow systems.

Europe VRF Systems Market

Europe is the second leading VRF systems market with a revenue of 24%. Due to the changing temperature in the region, Europe has a large usage of variable flow (VRF) systems for commercial buildings. During the projected period, the developed regions of Europe are expected to thrive at a significant CAGR during the forecast period.

North America VRF Systems Market

North America is a growing VRF systems market with an estimated revenue of 15%. Further, the presence of leading manufacturers and availability of the products that are certified by AHRI, in this region are likely to contribute to the VRF systems market growth.

The easy installation process with minimum piping work and increasing awareness about energy efficiency are anticipated to propel the demand. Additionally, the adoption of VRF systems is getting traction due to the introduction of environment-friendly refrigerants such as HFC-32.

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Competitive Landscape

Top 6 Key Companies & Start-Ups Revolutionizing the VRF Systems Industry Space

Start-up companies in the VRF systems sector are implementing heat pumps to reduce energy consumption and maintain precise temperature control. Further, they are aiming to improve the system devices to provide fresh air to indoor rooms and to retain wasted heat.

Innovations to improve the installment of VRF systems in a growing number of homes and public places due to their excellent physical properties are likely to be fabricated by emerging start-up companies. This might include good air conditioning efficiency and long product life. Moreover, mergers and acquisitions are done to enhance their market presence and create innovations to improve the systems, which is expected to surge the demand for variable refrigerant flow systems.

Key Market Players of the VRF Systems Market

  • Daikin Industries Ltd. - With more than 100 production units globally and operations in more than 150 countries: Daikin is one of the leading players in the air-conditioning and fluorochemicals businesses.
  • Fujitsu Ltd. - AIRSTAGE VRF Systems by Fujitsu General, can be designed to create an air conditioning solution to suit most buildings’ requirements. High energy efficiency, energy saving function, more comfort, design flexibility, easy installation, etc. surge the demand.
  • Mitsubishi Electrical - Mitsubishi leads the world in air conditioning systems for residential, commercial, and industrial use. Their engineers develop amazingly sophisticated yet durable units and systems capable of constant use virtually.
  • Johnson Controls Inc. - At Johnson Controls, they aim to make buildings smarter, more comfortable, safer, and more sustainable.
  • Toshiba Corporation - VRF system business and the air-conditioning of Toshiba is operated by Toshiba Carrier Corporation; the global joint between Carrier Corporation (US) and Toshiba Corporation (Japan).
  • LG Electronics - LG Electronics comprises 4 business units such as home entertainment, mobile communication, home appliances and air solutions, and vehicle components. They acquired Zenith in 1995, and the largest shareholder of LG Display in 2020. The company has 128 operations worldwide, employing 83,000 people.

Some of the Recent Developments in the VRF Systems Industry:

  • In July 2022, Toshiba's new Variable Refrigerant Flow (VRF) system, the SHRM Advance, was introduced. It uses R-32 refrigerant, which has a reduced Global Warming Potential (GWP). R-32's lower GWP and lower refrigerant charge together allow SHRM Advance to significantly cut comparable carbon emissions by up to 80%*.
  • In June 2021, Samsung introduced a new line of WiFi-enabled compact VRF air conditioners for residential and commercial buildings in India. The brand-new DVM S Eco unit is the most compact side discharge air conditioning system available due to its small footprint of less than 0.5 square meters and dimensions of W940 x H1630 x D460 mm.
  • In October 2019, Panasonic Corporation signed a technology agreement with Welcome Air-Tech (WAT) for the development of energy-efficient and sustainable air conditioning and ventilation solutions for the commercial sector across Southeast Asia.
  • In November 2018, Daikin Industries Ltd. acquired AHT Group for US$ 747.98 million.
  • In October 2018, Fujitsu General Limited acquired 51% shares in F.G. Europe Italia S.p.A. for a value of approximately US$ 8.48 million.
  • In May 2020, Panasonic Corporation signed an agreement with Quantum Cooling for the distribution of VRF systems and mini-split equipment across Florida.

Key Players Working in the Global Market

  • Daikin Industries Ltd.
  • Fujitsu Ltd.
  • Mitsubishi Electrical
  • Johnson Controls Inc.
  • Toshiba Corporation
  • Ingersoll Rand Plc.
  • LG Electronics
  • Midea Group
  • United Technologies Corporation
  • Lennox International Inc.
  • Samsung Electronics HVAC
  • Panasonic Corporation
  • Nortek Global HVAC
  • GREE North America
  • Emerson Electric
  • Whirlpool of India
  • Hitachi Ltd.
  • Ingersoll-Rand plc
  • PETRA Engineering Industries Co.
  • Voltas
  • Reznor
  • Blue Star Ltd.
  • AHI Carrier
  • Danfoss A/S
  • Carrier HVAC
  • Others

Scope of the Report

Attributes Details
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis US$ million for Value
Key Regions Covered North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA)
Key Countries Covered The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others
Key Segments Covered Type, Compressor Units, End-user, Region
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

VRF Systems Market Segmentation

By Type:

  • Heat Recovery System
  • Heat Pump

By Compressor Units:

  • Air-cooled Unit
  • Water-cooled Unit

By End-user:

  • Hotels & Restaurants
  • Residential
  • Transport

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa (MEA)

Frequently Asked Questions

What is the Growth Outlook for VRF Systems Market?

The VRF systems market is anticipated to register a CAGR of 6.0% during the forecast period.

What is a Prominent Restraint of the VRF Systems Market?

Complicated, tedious, and expensive installation is anticipated to curb the sales of variable refrigerant flow systems.

What is the Projected Size of the VRF Systems Market?

The VRF systems market size is anticipated to attain a valuation of US$ 27,942.5 million by 2033.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033

        5.3.1. Heat Recovery System

        5.3.2. Heat Pump

    5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Compressor Value (US$ Million)s

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Compressor Value (US$ Million)s, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Compressor Value (US$ Million)s, 2023 to 2033

        6.3.1. Air-Cooled Value (US$ Million)

        6.3.2. Water-Cooled Value (US$ Million)

    6.4. Y-o-Y Growth Trend Analysis By Compressor Value (US$ Million)s, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Compressor Value (US$ Million)s, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) Analysis By End User, 2018 to 2022

    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033

        7.3.1. Hotels & Restaurants

        7.3.2. Residential

        7.3.3. Transport

    7.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022

    7.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033

8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022

    8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Western Europe

        8.3.4. Eastern Europe

        8.3.5. South Asia and Pacific

        8.3.6. East Asia

        8.3.7. Middle East and Africa

    8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. USA

            9.2.1.2. Canada

        9.2.2. By Type

        9.2.3. By Compressor Value (US$ Million)s

        9.2.4. By End User

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Type

        9.3.3. By Compressor Value (US$ Million)s

        9.3.4. By End User

    9.4. Key Takeaways

10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Brazil

            10.2.1.2. Mexico

            10.2.1.3. Rest of Latin America

        10.2.2. By Type

        10.2.3. By Compressor Value (US$ Million)s

        10.2.4. By End User

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Type

        10.3.3. By Compressor Value (US$ Million)s

        10.3.4. By End User

    10.4. Key Takeaways

11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. Germany

            11.2.1.2. UK

            11.2.1.3. France

            11.2.1.4. Spain

            11.2.1.5. Italy

            11.2.1.6. Rest of Western Europe

        11.2.2. By Type

        11.2.3. By Compressor Value (US$ Million)s

        11.2.4. By End User

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Type

        11.3.3. By Compressor Value (US$ Million)s

        11.3.4. By End User

    11.4. Key Takeaways

12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. Poland

            12.2.1.2. Russia

            12.2.1.3. Czech Republic

            12.2.1.4. Romania

            12.2.1.5. Rest of Eastern Europe

        12.2.2. By Type

        12.2.3. By Compressor Value (US$ Million)s

        12.2.4. By End User

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Type

        12.3.3. By Compressor Value (US$ Million)s

        12.3.4. By End User

    12.4. Key Takeaways

13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. India

            13.2.1.2. Bangladesh

            13.2.1.3. Australia

            13.2.1.4. New Zealand

            13.2.1.5. Rest of South Asia and Pacific

        13.2.2. By Type

        13.2.3. By Compressor Value (US$ Million)s

        13.2.4. By End User

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Type

        13.3.3. By Compressor Value (US$ Million)s

        13.3.4. By End User

    13.4. Key Takeaways

14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        14.2.1. By Country

            14.2.1.1. China

            14.2.1.2. Japan

            14.2.1.3. South Korea

        14.2.2. By Type

        14.2.3. By Compressor Value (US$ Million)s

        14.2.4. By End User

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Type

        14.3.3. By Compressor Value (US$ Million)s

        14.3.4. By End User

    14.4. Key Takeaways

15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        15.2.1. By Country

            15.2.1.1. GCC Countries

            15.2.1.2. South Africa

            15.2.1.3. Israel

            15.2.1.4. Rest of MEA

        15.2.2. By Type

        15.2.3. By Compressor Value (US$ Million)s

        15.2.4. By End User

    15.3. Market Attractiveness Analysis

        15.3.1. By Country

        15.3.2. By Type

        15.3.3. By Compressor Value (US$ Million)s

        15.3.4. By End User

    15.4. Key Takeaways

16. Key Countries Market Analysis

    16.1. USA

        16.1.1. Pricing Analysis

        16.1.2. Market Share Analysis, 2022

            16.1.2.1. By Type

            16.1.2.2. By Compressor Value (US$ Million)s

            16.1.2.3. By End User

    16.2. Canada

        16.2.1. Pricing Analysis

        16.2.2. Market Share Analysis, 2022

            16.2.2.1. By Type

            16.2.2.2. By Compressor Value (US$ Million)s

            16.2.2.3. By End User

    16.3. Brazil

        16.3.1. Pricing Analysis

        16.3.2. Market Share Analysis, 2022

            16.3.2.1. By Type

            16.3.2.2. By Compressor Value (US$ Million)s

            16.3.2.3. By End User

    16.4. Mexico

        16.4.1. Pricing Analysis

        16.4.2. Market Share Analysis, 2022

            16.4.2.1. By Type

            16.4.2.2. By Compressor Value (US$ Million)s

            16.4.2.3. By End User

    16.5. Germany

        16.5.1. Pricing Analysis

        16.5.2. Market Share Analysis, 2022

            16.5.2.1. By Type

            16.5.2.2. By Compressor Value (US$ Million)s

            16.5.2.3. By End User

    16.6. UK

        16.6.1. Pricing Analysis

        16.6.2. Market Share Analysis, 2022

            16.6.2.1. By Type

            16.6.2.2. By Compressor Value (US$ Million)s

            16.6.2.3. By End User

    16.7. France

        16.7.1. Pricing Analysis

        16.7.2. Market Share Analysis, 2022

            16.7.2.1. By Type

            16.7.2.2. By Compressor Value (US$ Million)s

            16.7.2.3. By End User

    16.8. Spain

        16.8.1. Pricing Analysis

        16.8.2. Market Share Analysis, 2022

            16.8.2.1. By Type

            16.8.2.2. By Compressor Value (US$ Million)s

            16.8.2.3. By End User

    16.9. Italy

        16.9.1. Pricing Analysis

        16.9.2. Market Share Analysis, 2022

            16.9.2.1. By Type

            16.9.2.2. By Compressor Value (US$ Million)s

            16.9.2.3. By End User

    16.10. Poland

        16.10.1. Pricing Analysis

        16.10.2. Market Share Analysis, 2022

            16.10.2.1. By Type

            16.10.2.2. By Compressor Value (US$ Million)s

            16.10.2.3. By End User

    16.11. Russia

        16.11.1. Pricing Analysis

        16.11.2. Market Share Analysis, 2022

            16.11.2.1. By Type

            16.11.2.2. By Compressor Value (US$ Million)s

            16.11.2.3. By End User

    16.12. Czech Republic

        16.12.1. Pricing Analysis

        16.12.2. Market Share Analysis, 2022

            16.12.2.1. By Type

            16.12.2.2. By Compressor Value (US$ Million)s

            16.12.2.3. By End User

    16.13. Romania

        16.13.1. Pricing Analysis

        16.13.2. Market Share Analysis, 2022

            16.13.2.1. By Type

            16.13.2.2. By Compressor Value (US$ Million)s

            16.13.2.3. By End User

    16.14. India

        16.14.1. Pricing Analysis

        16.14.2. Market Share Analysis, 2022

            16.14.2.1. By Type

            16.14.2.2. By Compressor Value (US$ Million)s

            16.14.2.3. By End User

    16.15. Bangladesh

        16.15.1. Pricing Analysis

        16.15.2. Market Share Analysis, 2022

            16.15.2.1. By Type

            16.15.2.2. By Compressor Value (US$ Million)s

            16.15.2.3. By End User

    16.16. Australia

        16.16.1. Pricing Analysis

        16.16.2. Market Share Analysis, 2022

            16.16.2.1. By Type

            16.16.2.2. By Compressor Value (US$ Million)s

            16.16.2.3. By End User

    16.17. New Zealand

        16.17.1. Pricing Analysis

        16.17.2. Market Share Analysis, 2022

            16.17.2.1. By Type

            16.17.2.2. By Compressor Value (US$ Million)s

            16.17.2.3. By End User

    16.18. China

        16.18.1. Pricing Analysis

        16.18.2. Market Share Analysis, 2022

            16.18.2.1. By Type

            16.18.2.2. By Compressor Value (US$ Million)s

            16.18.2.3. By End User

    16.19. Japan

        16.19.1. Pricing Analysis

        16.19.2. Market Share Analysis, 2022

            16.19.2.1. By Type

            16.19.2.2. By Compressor Value (US$ Million)s

            16.19.2.3. By End User

    16.20. South Korea

        16.20.1. Pricing Analysis

        16.20.2. Market Share Analysis, 2022

            16.20.2.1. By Type

            16.20.2.2. By Compressor Value (US$ Million)s

            16.20.2.3. By End User

    16.21. GCC Countries

        16.21.1. Pricing Analysis

        16.21.2. Market Share Analysis, 2022

            16.21.2.1. By Type

            16.21.2.2. By Compressor Value (US$ Million)s

            16.21.2.3. By End User

    16.22. South Africa

        16.22.1. Pricing Analysis

        16.22.2. Market Share Analysis, 2022

            16.22.2.1. By Type

            16.22.2.2. By Compressor Value (US$ Million)s

            16.22.2.3. By End User

    16.23. Israel

        16.23.1. Pricing Analysis

        16.23.2. Market Share Analysis, 2022

            16.23.2.1. By Type

            16.23.2.2. By Compressor Value (US$ Million)s

            16.23.2.3. By End User

17. Market Structure Analysis

    17.1. Competition Dashboard

    17.2. Competition Benchmarking

    17.3. Market Share Analysis of Top Players

        17.3.1. By Regional

        17.3.2. By Type

        17.3.3. By Compressor Value (US$ Million)s

        17.3.4. By End User

18. Competition Analysis

    18.1. Competition Deep Dive

        18.1.1. Midea Group

            18.1.1.1. Overview

            18.1.1.2. Product Portfolio

            18.1.1.3. Profitability by Market Segments

            18.1.1.4. Sales Footprint

            18.1.1.5. Strategy Overview

                18.1.1.5.1. Marketing Strategy

        18.1.2. Ingersoll Rand Plc.

            18.1.2.1. Overview

            18.1.2.2. Product Portfolio

            18.1.2.3. Profitability by Market Segments

            18.1.2.4. Sales Footprint

            18.1.2.5. Strategy Overview

                18.1.2.5.1. Marketing Strategy

        18.1.3. Value (US$ Million)ed Technologies Corporation

            18.1.3.1. Overview

            18.1.3.2. Product Portfolio

            18.1.3.3. Profitability by Market Segments

            18.1.3.4. Sales Footprint

            18.1.3.5. Strategy Overview

                18.1.3.5.1. Marketing Strategy

        18.1.4. Lennox International Inc.

            18.1.4.1. Overview

            18.1.4.2. Product Portfolio

            18.1.4.3. Profitability by Market Segments

            18.1.4.4. Sales Footprint

            18.1.4.5. Strategy Overview

                18.1.4.5.1. Marketing Strategy

        18.1.5. Samsung Electronics HVAC

            18.1.5.1. Overview

            18.1.5.2. Product Portfolio

            18.1.5.3. Profitability by Market Segments

            18.1.5.4. Sales Footprint

            18.1.5.5. Strategy Overview

                18.1.5.5.1. Marketing Strategy

        18.1.6. Panasonic Corporation

            18.1.6.1. Overview

            18.1.6.2. Product Portfolio

            18.1.6.3. Profitability by Market Segments

            18.1.6.4. Sales Footprint

            18.1.6.5. Strategy Overview

                18.1.6.5.1. Marketing Strategy

        18.1.7. Nortek Global HVAC

            18.1.7.1. Overview

            18.1.7.2. Product Portfolio

            18.1.7.3. Profitability by Market Segments

            18.1.7.4. Sales Footprint

            18.1.7.5. Strategy Overview

                18.1.7.5.1. Marketing Strategy

        18.1.8. GREE North America

            18.1.8.1. Overview

            18.1.8.2. Product Portfolio

            18.1.8.3. Profitability by Market Segments

            18.1.8.4. Sales Footprint

            18.1.8.5. Strategy Overview

                18.1.8.5.1. Marketing Strategy

        18.1.9. Emerson Electric

            18.1.9.1. Overview

            18.1.9.2. Product Portfolio

            18.1.9.3. Profitability by Market Segments

            18.1.9.4. Sales Footprint

            18.1.9.5. Strategy Overview

                18.1.9.5.1. Marketing Strategy

        18.1.10. Whirlpool of India

            18.1.10.1. Overview

            18.1.10.2. Product Portfolio

            18.1.10.3. Profitability by Market Segments

            18.1.10.4. Sales Footprint

            18.1.10.5. Strategy Overview

                18.1.10.5.1. Marketing Strategy

        18.1.11. Hitachi Ltd.

            18.1.11.1. Overview

            18.1.11.2. Product Portfolio

            18.1.11.3. Profitability by Market Segments

            18.1.11.4. Sales Footprint

            18.1.11.5. Strategy Overview

                18.1.11.5.1. Marketing Strategy

        18.1.12. Ingersoll-Rand plc

            18.1.12.1. Overview

            18.1.12.2. Product Portfolio

            18.1.12.3. Profitability by Market Segments

            18.1.12.4. Sales Footprint

            18.1.12.5. Strategy Overview

                18.1.12.5.1. Marketing Strategy

        18.1.13. PETRA Engineering Industries Co.

            18.1.13.1. Overview

            18.1.13.2. Product Portfolio

            18.1.13.3. Profitability by Market Segments

            18.1.13.4. Sales Footprint

            18.1.13.5. Strategy Overview

                18.1.13.5.1. Marketing Strategy

        18.1.14. Voltas

            18.1.14.1. Overview

            18.1.14.2. Product Portfolio

            18.1.14.3. Profitability by Market Segments

            18.1.14.4. Sales Footprint

            18.1.14.5. Strategy Overview

                18.1.14.5.1. Marketing Strategy

        18.1.15. Reznor

            18.1.15.1. Overview

            18.1.15.2. Product Portfolio

            18.1.15.3. Profitability by Market Segments

            18.1.15.4. Sales Footprint

            18.1.15.5. Strategy Overview

                18.1.15.5.1. Marketing Strategy

        18.1.16. Blue Star Ltd.

            18.1.16.1. Overview

            18.1.16.2. Product Portfolio

            18.1.16.3. Profitability by Market Segments

            18.1.16.4. Sales Footprint

            18.1.16.5. Strategy Overview

                18.1.16.5.1. Marketing Strategy

        18.1.17. AHI Carrier

            18.1.17.1. Overview

            18.1.17.2. Product Portfolio

            18.1.17.3. Profitability by Market Segments

            18.1.17.4. Sales Footprint

            18.1.17.5. Strategy Overview

                18.1.17.5.1. Marketing Strategy

        18.1.18. Danfoss A/S

            18.1.18.1. Overview

            18.1.18.2. Product Portfolio

            18.1.18.3. Profitability by Market Segments

            18.1.18.4. Sales Footprint

            18.1.18.5. Strategy Overview

                18.1.18.5.1. Marketing Strategy

        18.1.19. Carrier HVAC

            18.1.19.1. Overview

            18.1.19.2. Product Portfolio

            18.1.19.3. Profitability by Market Segments

            18.1.19.4. Sales Footprint

            18.1.19.5. Strategy Overview

                18.1.19.5.1. Marketing Strategy

19. Assumptions & Acronyms Used

20. Research Methodology

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