Global VRF systems market to reach $35.4 bn by 2026

The global variable refrigerant flow (VRF) systems market size is expected to reach $35.4 billion by 2026, rising at a market growth of 17.2 percent CAGR during the forecast period, a research report said.

“VRF air-conditioning systems are now being installed by a growing number of property owners and managers. With a long product life under harsh conditions, good air conditioning efficiency and excellent service, VRF systems are becoming the chosen option for apartments and collective housing,” the ResearchAndMarkets.com report said. According to the report, the key factors driving the growth of the VRF systems industry are the rising demand for energy-efficient heating, ventilation and air conditioning (HVAC) solutions and growing construction industry, along with government initiatives to ease FDI standards in the real estate sector. VRF systems refer to two main components of air conditioning systems: outdoor units and indoor units. Such systems use built-in heat exchangers for heating and refrigerating applications