VRF AC (Variable Refrigerant Flow Air conditioning) system market was valued at $19.5 billion in 2024 and is projected to grow to $53.2 billion with a CAGR of 9.6% during the forecast period (2025–2035). The key factors that are increasing the growth of the VRF AC market such as increasing demand for energy-efficient heating, ventilation, and air conditioning (HVAC), and the growth of various industries, including construction and manufacturing.
Browse the full report description of “VRF AC System Market Size, Share & Trends Analysis Report by Type (Heat Pump System and Heat Recovery System), By Components (Indoor Units, Outdoor Units), and by Application (Commercial, Residential, Industrial, Healthcare, and Education), Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/vrf-ac-system-market
Revolutionary HVAC Technology Transforming Building Climate Control.
Several major players lead the VRF AC System industry, including Carrier Global Corp., Daikin Industries, Ltd., Fujitsu General Limited, Mitsubishi Electric Corp., and LG Electronics. These companies are at the forefront of innovation, continually developing new technologies to meet the industry's evolving needs. For instance, in April 2025, Daikin launched a new VRV range with R-744 refrigerant (CO2) in the UK and European markets. This reflects Daikin’s drive to be at the forefront of developing solutions to lower the carbon footprint of its systems, anticipating and supporting legislation.
Also in May 2024, Lennox Samsung announced an agreement forming a joint venture to sell ductless AC and heat pump (mini-split, multi-split, VRF) products in the United States and Canada. The newly established joint venture will be called Samsung Lennox HVAC North America.
Furthermore, in February 2022, Carrier Global Corporation acquired Toshiba Corporation. The planned acquisition will strengthen Carrier’s position in one of the fastest-growing HVAC segments, as well as scale its global VRF product platform with leading and differentiated technology and the addition of a renowned brand to its portfolio.
Market Coverage
• The market numbers available for – 2024-2035
• Base year- 2024
• Forecast period- 2025-2035
• Segment Covered-
o By Type
o By Components
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape - Carrier Global Corp., Daikin Industries, Ltd., Fujitsu General Limited, Mitsubishi Electric Corp., LG Electronics, and others.
Key questions addressed by the report.
Global VRF AC System Market Report Segment
By Type
By Components
By Application
Global VRF AC System Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia and New Zealand
• ASEAN Economies
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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