GCC VRF System Market

Variable refrigerant flow (VRF) is an HVAC technology-based system, which has one outdoor condensing unit and multiple indoor units. The term ‘variable refrigerant flow’ refers to the ability of the system to control the amount of refrigerant flowing to the multiple evaporators that are indoor units and connected to a single condensing unit. VRF systems can either be a heat pump system or a heat recovery system, which provides simultaneous heating and cooling to different zones or rooms within a building at the same time. The use of multiple indoor units of the different capacities and configurations provides the ability to create zones that can be individually controlled.

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The significant factors driving the growth of the GCC VRF system market include energy-saving potential of VRF system, zoning, individual temperature control, and minimized ductwork. In addition to this, the growing construction sector in GCC countries, including UAE, Saudi Arabia, Oman, and Kuwait, and the strong demand for advanced air conditioning and heat pump solution among customers will further boost the demand of the GCC VRF system market. Additionally, the variable refrigerant flow (VRF) system serves as an enhanced version of the multi-split system with heat recovery capabilities and provides simultaneous heating and cooling. VRF system helps in improving the efficiency and power saving capacity of the HVAC system, thereby encouraging the end-users to opt for these systems over the forecast period.

Increasing applications of VRF systems in various commercial buildings, including hotels, restaurants, corporate offices, and educational institutes, among others, will further propel the market growth over the forecast period. Moreover, higher flexibility, modular designs, simple installation feature, the ability of the VRF systems to produce less noise during operation, and easy to use smart controls of room temperature are some of the major driving factors fuelling the consumer interest in buying VRF systems over the forecast period. These systems are witnessing increased applications in hospitals and other healthcare infrastructures owing to the fact that they provide sterile air, very close temperature, and humidity control. Moreover, major healthcare projects including Sultan Qaboos Medical City Complex in Barka, King Faisal Medical City in Asir, King Abdullah Medical City in Bahrain and others are expected to propel the growth of the market in the region. On the other hand, the increasing incidences of refrigerant leak, high installation cost, and the lack of awareness regarding benefits of the VRF system will hamper the growth of the GCC VRF system market.

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Based on the type, the VRF System Market is segmented into heat pump system and heat recovery system. The heat pump system segment is expected to grow at a faster CAGR during the forecast period. The major factors driving the adoption of the heat pump system includes relatively low cost, less maintenance requirement, and growing awareness regarding energy efficiency. Additionally, the heat pump system is increasingly adopted in residential buildings, retail stores, cellular offices, restaurants, lobby areas, clubhouses, religious facilities where either cooling or heating is required during the same operational periods.

Based on the component, the market is segmented into outdoor units, indoor units, control systems, and accessories. The indoor units segment is expected to grow at a higher CAGR during the forecast period owing to its easy installation into ceilings, ideal for smaller rooms, and the ability to create zones that can be individually controlled. On the other hand, the outdoor unit segment is projected to dominate the market over the forecast period. The major driving factors such as the ability of outdoor units to connect multiple indoor units, growing adoption of inverter-driven compressor, light weight, and small footprints, are boosting the demand for the outdoor units segment in the GCC VRF system market.

Based on capacity, the market has been segmented into small capacity and large capacity. The small capacity segment is anticipated to grow at a higher CAGR during the forecast period. This is attributed to the growing demand for up to 10 Tons of VRF systems in residential building applications, small-sized office buildings, and low-rise hotels. The less amount of noise creation, energy-saving, comfortable airflow, and centralized control for small-sized buildings, are some other factors contributing to the growth of the 11 to 18 tons small capacity VRF system market in GCC.

Based on application, the market is segmented into commercial, residential, and others. Among these, the commercial segment is expected to grow at a prominent CAGR over the coming years. Simultaneous heating and cooling, precise zonal control, desired temperature control in an easy way, versatility in function, flexibility in design, and higher energy efficiency are some of the major factors contributing to the strong demand for VRF systems in the commercial sector. Additionally, there has been an upsurge in demand of the VRF system in commercial buildings such as shopping malls, small shops, cafes, large office buildings, and public spaces, which is further supporting the market growth in the commercial sector.

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Based on the countries, the GCC VRF System market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the rest of GCC. The growing public-private partnerships for the development of the construction industry, residential and commercial sector are the major factors that are surging the growth of the market in Saudi Arabia and UAE. Furthermore, major projects including the NEOM city, InterContinental Hotel Project, DoubleTree Hilton Hotel Project, Orchid Villas Project, Al Faisaliah City, New Jeddah Downtown, Al Noor City, Government Housing Plans, and Kuwait’s Silk City, among others are expected to increase the demand of VRF systems in the region. Various notable players operating in the GCC VRF system market, include, Daikin industries, Ltd., Fujitsu Limited, Mitsubishi Electric Corporation, Johnson Controls International Plc, Toshiba Corporation, LG Electronics Inc., Midea Group Co., Ltd., Raytheon Technologies Corporation, Samsung Electronics Co., Ltd., and Panasonic Corporation, among others, are further increasing the growth of the market in these countries.

The GCC VRF system market has been segmented on the basis of type, component, capacity, application, and countries. Based on type, the market is segmented into heat pump systems and heat recovery systems. Based on component, the market is segmented into outdoor units, indoor units, control systems and accessories. Based on capacity, the market is segmented into small capacity and large capacity. Based on application, the market is segmented into commercial, residential, and others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.

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Key questions answered in this research report:

• • At what pace is GCC VRF System Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in GCC VRF System Market? What will be the impact of drivers and restraints in the future?
  • Which type generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various applications of GCC VRF System Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

GCC VRF System Market by Type

• • Heat Pump Systems
  • Heat Recovery Systems

GCC VRF System Market by Component

• • Outdoor Units
  • Compressors
  • Inverters
  • Others
  • Indoor Units
  • Control Systems and Accessories

GCC VRF System Market by Capacity

• • Small Capacity
  • Large Capacity

GCC VRF System Market by Application

• • Commercial
  • Residential
  • Others

    GCC VRF System Market by Countries

• • UAE VRF System Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia VRF System Market All-Up (Option 2: Free 25% Customization)
  • Oman VRF System Market All-Up (Option 3: Free 25% Customization)
  • Kuwait VRF System Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC VRF System Market All-Up (Option 5: Free 25% Customization)

GCC VRF System Leading Market Players (Option 6: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice) 

• • Daikin industries, Ltd.
  • Fujitsu Limited
  • Mitsubishi Electric Corporation
  • Johnson Controls International Plc
  • Toshiba Corporation
  • LG Electronics Inc.
  • Midea Group Co., Ltd.
  • Raytheon Technologies Corporation
  • Samsung Electronics Co., Ltd.
  • Panasonic Corporation