MarketsandMarkets recently released a report stating that the VRF market will see significant growth through 2022. At the moment, sales are expected to reach $24.09 billion by 2022. The global market for VRF (variable refrigerant flow) was valued at $11.08 billion in 2015. That means a compound annual growth rate (CAGR) of 11.4% will be seen in the next 6 years. As a result, manufacturers expect shipments to maintain exponential growth for years to come. Why such a spike in sales? VRF systems are some of the most energy efficient systems on the HVAC market. Furthermore, they are incredibly simple to install, and just as easy to maintain. But that’s not the only reason for their growing popularity.
VRF Market Will See Significant Growth Through 2022
Advanced Control Integration
One reason for the spike in popularity over the last three years is the systems’ advanced control integration. Controls range from simple remote controls to full-fledged automated systems, providing excellent flexibility for consumers. As a result, the technology is compatible with management systems that are easy to use and also highly effective.
Another major factor contributing to VRF popularity is energy efficiency. Because it is so effective, the technology is expected to help improve green ratings across the country, including LEED and Green Seal certifications. In addition, more efficient technology has resulted in less life-cycle costs and fewer repairs, which saves consumers thousands of dollars in the long-run.
VRF technology is not necessarily the ideal HVAC solution for certain functions. Applications that require careful temperature and humidity control, for example, may be handled more effectively by other HVAC systems. These include food processing and large-scale pharmaceutical production. In addition, two-part HVAC systems are also becoming more and more common. For example, VRF systems are often used with chilled water systems for buildings such as hospitals, classrooms, and administrative buildings.
Playing Catch Up
VRF technology has been available and used worldwide since the 1980s. In Europe and China, VRF technology makes up 81-86% of the HVAC market, and even more so in Japan. With the growing efficiency and simple use of these products, there it is doubtful the US remains far behind for very long with this technology. It seems, in fact, that the only obstacles preventing widespread use is the political scene in Washington. Nevertheless, VRF is sure to be seen much more frequently over the next 10 years than ever before in the domestic HVAC industry.