Air conditioning is used to manage the air in a given space. VRF is a Variable refrigerant flow (VRF) it is an HVAC technology invented by Daikin Industries, Ltd. in 1982. This may mean heating, dehumidifying, or cooling air. Commercial air conditioning is a system that is used in any commercial property. Commercial air conditioning can be used in any commercial property, big or small, including offices, shops, or restaurants. By adding an air conditioning system in commercial premises, businesses can ensure customers and employees keep cool in the summer and warm in the winter months. There are several different types of systems and different manufacturers. Each system has different capabilities and power so it’s important to ensure to have the correct system for the commercial space to maximize performance.
Commercial air conditioning and air conditioning in the home have different requirements due to the size of these spaces. Therefore, the amount of power needed and how often the system will be used all matter when it comes to selecting the right air conditioning system for customers. VRFs use refringent as the primary cooling and heating medium and are usually less complex than conventional chiller-based systems. This refrigerant is conditioned by one or more condensing units and is circulated within the building to multiple indoor units. VRF systems allow for varying degrees of cooling in more specific areas.
There are dedicated gateways that connect VRFs with home automation and building management systems controllers for centralized control and monitoring. In addition, such gateway solutions are capable of providing remote control operation of all HVAC indoor units over the internet incorporating a simple and friendly user interface.
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Global Commercial Air Conditioning Systems (VRF) Market – Competitive Landscape
On May 27, 2022, Mitsubishi invested USD 113 million to boost production in Turkey. On February 9, 2021, Carrier China signed a USD 17 million contract with China Eastern Airlines investment to provide XCT7 VRF air conditioning systems for commercial offices.
Some of the Key Players in the Global Commercial Air Conditioning Systems (VRF) Market Include –
- Hitachi Air Conditioning
- LG Electronics
- Mitsubishi Electric
- Panasonic Corporation
- Samsung India Electronics Ltd.
- Voltas Limited
- Daikin
- Toshiba
- United Technologies
Global Commercial Air Conditioning Systems (VRF) Market – Growth Drivers
Variable refrigerant flow systems are known for their energy efficiency, allowing precise control over the amount of refrigerant flow to each indoor unit. This can result in a significant amount of energy savings compared to HVAC systems. VRF systems would save around 15-42% and 18-33% for HVAC site and source energy uses. VRF systems enable zoning, meaning different areas or rooms can have individual temperature controls. This zoning capability increases comfort for occupants and allows for better energy management. VRF systems offer flexibility in design and installation. They can be easily adapted to different building layouts and requirements, making them suitable for a variety of commercial spaces. VRF systems often incorporate heat recovery technology. Allowing simultaneous heating and cooling in different areas of a building. This features overall system efficiency and reduces energy consumption. VRF integrates with smart building technologies, allowing for centralized control and monitoring. This enhances overall system management and can lead to better energy optimization. Despite potentially higher upfront costs, VRF systems can offer long-term cost savings through energy efficiency, reduced maintenance, and extended equipment life. In some regions, government incentives and regulations promoting energy-efficient HVAC solutions, including VRF systems, can increase the adoption in the commercial sector.
Global Commercial Air Conditioning Systems (VRF) Market – Restraints
The upfront cost of VRF systems can be higher compared to traditional HVAC systems, which may pose a financial barrier for some businesses, especially smaller ones. Installing VRF systems can be more complex than traditional systems, requiring specialized knowledge and skills. Installation cost of VRF commercial air conditioning system ranges from USD 3000 to USD 5000 This complexity can lead to longer installation times and potential challenges during the construction phase. Regular maintenance of VRF systems may require specialized expertise. The availability of skilled technicians for maintenance and repair could be a loss factor in some regions, potentially leading to downtime if issues arise. The refrigerant used in VRF systems, although often more environmentally friendly, may still pose concerns regarding global warming potential and regulatory changes. Adherence to evolving environmental standards can be a challenge. Some stakeholders may perceive VRF systems as less proven or reliable compared to traditional HVAC systems, leading to hesitancy in adopting this technology. In regions with extreme temperatures, VRF systems may face challenges in maintaining efficient operation, especially in very cold or very hot climates. In certain regions, the VRF market may still be developing and a lack of awareness or understanding among potential users could hinder widespread adoption.
Global Commercial Air Conditioning Systems (VRF) Market- Opportunities
Growing emphasis on sustainability and green building practices presents an opportunity for VRF systems, known for their energy efficiency and environment-friendly refrigerant. The escalating energy costs globally make energy-efficient solutions like VRF systems more attractive to businesses seeking long-term operational cost-savings. The ongoing trend of urbanization and infrastructure development, especially in emerging markets, provides a significant growth opportunity for VRF systems as new commercial buildings are constructed. The growing emphasis on indoor air quality in commercial spaces presents an opportunity for VRF systems, which can provide precise control over temperature and ventilation in different zones.
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Global Commercial Air Conditioning Systems (VRF) Market – Geographical Insight
The market for global commercial air conditioning (VRF) is segmented into regions such as North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa. Asia-Pacific is the largest market for global commercial air conditioning systems due to rapid urbanization, substantial infrastructure development, and surge in commercial construction activities and growing awareness of energy also contribute. The North American market experienced steady growth, attributed to a strong emphasis on energy efficiency, smart building technologies, and the replacement of older HVAC systems with more advanced VRF solutions. In European countries due to stringent energy efficiency regulation and a focus on sustainable building practices. The market for VRF air conditioning is characterized by technological advancements.
Global Commercial Air Conditioning Systems (VRF) Market – Key Development
- On August 9, 2023, Johnson Control-Hitachi Air Conditioning announced the launch of air365 Max, a new top-flow variable refrigerant flow (VRF) air conditioning system in Malaysia.
- On July 13, 2022, Midea’s industry-first technologies and innovations redefine the VRF industry with the launched energy-efficient V8 VRF series.