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Commercial Air Conditioning Systems (VRF) Market

Commercial Air Conditioning Systems (VRF) Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

U.S. commercial air conditioning systems market was valued at USD 7,251.7 million in 2012 and is expected to see growth at 5.2% CAGR during 2013 to 2019 period. With developments in technology and growing demand across the globe, the air conditioning systems market is predicted to experience healthy growth in the coming years. The growth of the U.S. commercial air conditioning systems market is supported by stringent government regulations and development of cost effective and energy efficient products.
 
There are several types of air-conditioning system installed in commercial buildings ranging from split systems, individual systems, water-cooled packaged systems, variable refrigerant flow (VRF) systems, and centralized chilled water systems, among others. In 2012, by product type, the U.S. commercial air conditioning systems market was dominated by split systems due to rising usage of non-ducted systems owing to their flexibility and ease of installation. Due to improved controllability and higher efficiency, VRF systems are gaining popularity in air conditioning systems market. VRF systems provide customizable temperature comfort control for private, public and industrial applications for indoor environments. Commercial air conditioning systems market is significantly affected by developments in the construction industry, with most of the income generated from HVAC (heating, ventilation and air-conditioning) installations in newly constructed buildings. 
 
Countries in Asia-Pacific namely China and Japan have highly saturated HVAC market in terms of VRF technology. U.S. VRF air conditioning market, despite its low acceptance in initial years, is expected to see steady growth. Predominant installation of ducted HVAC systems in the country had made the VRF systems transition slow, and only new constructions are preferring installation of VRF HVAC systems. However, recovery in construction and standardization of VRF technology by American bodies has eased the adoption of VRF technology by commercial sector. 
 
Driven the growth potential, HVAC manufacturers and distributors are now focusing on VRF air conditioning systems and their applications that are entering the U.S. market. Some of the key players in this industry include United Technologies Corporation – Climate, Controls and Security Unit (Carrier), Haier Inc., Samsung Electronics, Mitsubishi Electric Corporation, Daikin Industries Ltd., Fujitsu General Pty. Ltd. AB Electrolux, and LG Corporation among others. Of these, Mitsubishi Electric Corporation, Fujitsu and Carrier Corporation, are among leading players in VRF commercial air conditioning systems market in U.S.

Standardization of VRF Technology to Unlock New Revenue Streams in U.S. Commercial Air Conditioning Systems Market

Commercial air conditioning systems are key to commercial properties, and the installations are proliferating world over. Particularly in the U.S., the demand for variable refrigerant flow (VRF) systems is one of the major product types likely to gather steam. The proliferating demand for VRF systems in the U.S. for medium to large applications is a key trend in the commercial air conditioning systems. In other parts of the world, notably in Asia Pacific, the market for VRF has largely matured or will soon hit the maturation stage. Hence, manufacturers and vendors are actively looking for new revenues streams in the U.S. Various small-to-medium establishments hotels, offices, mixed-use commerce buildings, and retail spaces are seeing rapidly increasing demand for VRF, expanding the revenue potential of various players in the commercial air conditioning systems market. Several product characteristics underpin the popularity of VRF as commercial air conditioning systems. The ease of installation, that of control and maintenance, and the ease of use are key factors fueling adoption.

The COVID-19 pandemic has considerably challenged the equilibrium of several businesses across industries, including in the U.S. The health pandemic has also led to vast economic upheavals in the recent months. Consumer demands fell dramatically in some industries, shaking the bottom-line of many businesses in a span of just few months. Nevertheless, players in the regional market are keen on adopting new customer reach strategies and integrating automation in large part of operational processes. These efforts are being supported by respective regional governments. This has opened new opportunities in the U.S. commercial air conditioning systems market. Manufacturers and vendors are also to see new avenues on the back of energy-efficient systems. Focus of manufacturers and other market players on brining standardization in VRF technologies will unlock vast lucrative avenues. More prominently, the sustainability aspect will spur product innovation in the not-so-distant future in the U.S. market.

    Chapter 1 Preface
    1.1 Report description and scope
          1.1.1 Market segmentation
    1.2 Research methodology
     
    Chapter 2 Executive Summary
    2.1 U.S. commercial air conditioning systems market snapshot, 2012 & 2019
    2.2 U.S. commercial air conditioning systems market size and forecast, 2011 – 2019 (USD million and Million units)
     
    Chapter 3 U.S. Commercial Air Conditioning Systems Market Overview
    3.1 Introduction
    3.2 Market dynamics
          3.2.1 Drivers
          3.2.2 Drivers: Impact analysis
                  3.2.2.1 Changing North American landscape for VRF air conditioning systems
                  3.2.2.2 Energy efficiency and cost reduction
                  3.2.2.3 Stringent government regulations
                  3.2.2.4 Climate variations (shift from historical records)
          3.2.3 Restraints
          3.2.4 Restraints: Impact analysis
                  3.2.4.1 Low awareness and installation complexity
         3.2.5 Opportunities
                  3.2.5.1 Development of energy efficient systems with green refrigerants
                  3.2.5.2 New opportunities for VRF systems
    3.3 Trends and future outlook
    3.4 Value chain analysis
    3.5 Porter’s five forces analysis
          3.5.1 Bargaining power of suppliers
          3.5.2 Bargaining power of buyers
          3.5.3 Threat of new entrants
          3.5.4 Threat of substitutes
          3.5.5 Degree of competition
    3.6 Competitive analysis
          3.6.1 Summary
          3.6.2 Market share of key players in VRF commercial air conditioning, 2012 (Revenue – USD million and Revenue share – %)
     
    Chapter 4 U.S. Commercial Air Conditioning Systems Market Analysis, by Product
    4.1 U.S. commercial air conditioning systems market overview, by product, 2012 & 2019 (%)
    4.2 Split systems market size and forecast, 2011 – 2019 (USD million and Million units)
          4.2.1 Ducted split systems market size and forecast, 2011 – 2019 (USD million and   Million units)
          4.2.2 Non-ducted split systems market size and forecast, 2011 – 2019 (USD million and Million units)
    4.3 Single packaged systems market size and forecast, 2011 – 2019 (USD million and Million units)
    4.4 Window systems market size and forecast, 2011 – 2019 (USD million and Million units)
    4.5 Portable systems market size and forecast, 2011 – 2019 (USD million and Million units)
    4.6 Other systems market size and forecast, 2011 – 2019 (USD million and Million units)
     
    Chapter 5 U.S. Commercial Air Conditioning Systems Market Analysis, by Refrigeration Technology
    5.1 U.S. commercial air conditioning systems market overview, by refrigeration technology, 2012 and 2019 (%)
    5.2 U.S. VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (USD million and Million units)
    5.3 U.S. other commercial air conditioning systems market size and forecast, 2011 – 2019 (USD million and Million units)
     
    Chapter 6 U.S. Commercial Air Conditioning Systems Market Analysis, by Application
    6.1 U.S. commercial air conditioning systems market overview, by application, 2012 & 2019 (%)
    6.2 U.S. private commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
    6.3 U.S. public commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
    6.4 U.S. industrial commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
     
    Chapter 7 U.S. VRF Commercial Air Conditioning Systems Market Analysis, by Application
    7.1 U.S. VRF commercial air conditioning systems market overview, by application, 2012 & 2019 (%)
    7.2 U.S. private VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
    7.3 U.S. public VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
    7.4 U.S. industrial VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
     
    Chapter 8 U.S. VRF Commercial Air Conditioning Systems Market Analysis, by Components
    8.1 U.S. VRF commercial air conditioning systems market overview, by components, 2012 & 2019 (%)
    8.2 U.S. VRF indoor units commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
    8.3 U.S. VRF outdoor units commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)
     
    Chapter 9 Competitive Landscape
    9.1 Competitive strategies by key players
    9.2 Market share of key air conditioning systems vendors, 2013 (Revenue – USD billion and Revenue share – %)
     
    Chapter 10 Company Profiles
    10.1 Diakin Industries Ltd.
           10.1.1 Company overview
           10.1.2 Financial overview
           10.1.3 Business strategy
           10.1.4 SWOT Analysis.
           10.1.5 Recent developments
    10.2 Fujitsu General Limited.
           10.2.1 Company overview
           10.2.2 Financial overview
           10.2.3 Business strategy
           10.2.4 SWOT Analysis.
           10.2.5 Recent developments
    10.3 Mitsubishi Electric Corporation
           10.3.1 Company overview
           10.3.2 Financial overview
           10.3.3 Business strategy
           10.3.4 SWOT Analysis
           10.3.5 Recent developments
    10.4 Toshiba Corporation
           10.4.1 Company overview
           10.4.2 Financial overview
           10.4.3 Business strategy
           10.4.4 SWOT analysis
           10.4.5 Recent developments
    10.5 United Technologies Corp. (Carrier Corporation)
           10.5.1 Company overview
           10.5.2 Financial overview
           10.5.3 Business strategy
           10.5.4 SWOT Analysis.
           10.5.5 Recent developments
    10.6 Samsung Electronics Co., Ltd.
           10.6.1 Company overview
           10.6.2 Financial overview
           10.6.3 Business strategy
           10.6.4 SWOT analysis
           10.6.5 Recent Developments
    10.7 Haier Electronics Group Co. Ltd.
           10.7.1 Company overview
           10.7.2 Financial overview
           10.7.3 Business strategy
           10.7.4 SWOT analysis
           10.7.5 Recent developments
    10.8 Lennox International Inc.
           10.8.1 Company overview
           10.8.2 Financial overview
           10.8.3 Business strategy
           10.8.4 SWOT analysis
           10.8.5 Recent developments
    10.9 LG Electronics
           10.9.1 Company overview
           10.9.2 Financial overview
           10.9.3 Business strategy
           10.9.4 SWOT analysis
           10.9.5 Recent developments
    10.10 AB Electrolux
           10.10.1 Company overview
           10.10.2 Financial overview
           10.10.3 Business strategy
           10.10.4 SWOT analysis
           10.10.5 Recent developments
    10.11 Panasonic Corporation
           10.11.1 Company overview
           10.11.2 Financial overview
           10.11.3 Business strategy
           10.11.4 SWOT analysis
           10.11.5 Recent developments
    10.12 Ingersoll-Rand Plc.
           10.12.1 Company overview
           10.12.2 Financial overview
           10.12.3 Business strategy
           10.12.4 SWOT analysis
           10.12.5 Recent developments
    10.13 Hitachi Ltd.
           10.13.1 Company overview
           10.13.2 Financial overview
           10.13.3 Business strategy
           10.13.4 SWOT analysis
           10.13.5 Recent developments
    List of Tables
     
    TABLE 1 Commercial air conditioning market segmentation
    TABLE 2 U.S. commercial air conditioning market snapshot, 2012 & 2019
    TABLE 3 Impact analysis of drivers
    TABLE 4 Impact analysis of restraints
    TABLE 5 U.S. VRF indoor units commercial air conditioning systems market size and forecast, by application, 2011 – 2019 (volume – Million units) 
    TABLE 6 U.S. VRF indoor units commercial air conditioning systems market size and forecast, by application, 2011 – 2019 (revenue – USD million) 
    TABLE 7 U.S. VRF indoor units commercial air conditioning systems market size and forecast, by application, 2011 – 2019 (volume – Million units) 
    TABLE 8 U.S. VRF indoor units commercial air conditioning systems market size and forecast, by application, 2011 – 2019 (revenue – USD million) 

    List of Figures

     

    FIG. 1 U.S. commercial air conditioning market size and forecast, 2011 – 2019 (USD million and Million units)

    FIG. 2 Value chain analysis

    FIG. 3 Porter’s five forces analysis

    FIG. 4 Market share of key players in VRF commercial air conditioning, 2012 (Revenue – USD million and Revenue share – %)

    FIG. 5 U.S. commercial air conditioning systems market overview, by product, 2012 & 2019 (volume – %)

    FIG. 6 U.S. commercial air conditioning systems market overview, by product, 2012 & 2019 (revenue – %)

    FIG. 7 Split systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 8 Ducted split systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 9 Non-ducted split systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 10 Single packaged systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 11 Window systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 12 Portable systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 13 Other systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 14 U.S. commercial air conditioning systems market overview, by refrigeration technology, 2012 & 2019 (volume – %)

    FIG. 15 U.S. commercial air conditioning systems market overview, by refrigeration technology, 2012 & 2019 (revenue – %)

    FIG. 16 U.S. VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 17 U.S. others commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 18 U.S. commercial air conditioning systems market overview, by application, 2012 & 2019 (volume %)

    FIG. 19 U.S. commercial air conditioning systems market overview, by application, 2012 & 2019 (revenue %)

    FIG. 20 U.S. private commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 21 U.S. public commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 22 U.S. industrial commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 23 U.S. VRF commercial air conditioning systems market overview, by application, 2012 & 2019 (volume %)

    FIG. 24 U.S. VRF commercial air conditioning systems market overview, by application, 2012 & 2019 (revenue %)

    FIG. 25 U.S. private VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 26 U.S. public VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 27 U.S. industrial VRF commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 28 U.S. VRF Commercial air conditioning systems market overview, by components, 2012 & 2019 (volume %)

    FIG. 29 U.S. VRF commercial air conditioning systems market overview, by components, 2012 & 2019 (revenue %)

    FIG. 30 U.S. VRF indoor units commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 31 U.S. VRF outdoor units commercial air conditioning systems market size and forecast, 2011 – 2019 (revenue – USD million and volume – Million units)

    FIG. 32 Market share of key air conditioning systems vendors, 2013 (Revenue – USD billion and Revenue share – %)

    FIG. 33 Daikin Industries Ltd. annual revenues, 2010 – 2012, (USD million)

    FIG. 34 Fujitsu General Limited annual revenues, 2010 – 2012, (USD million)

    FIG. 35 Mitsubishi Electric Corporation annual revenues, 2010 – 2012, (USD million)

    FIG. 36 Toshiba Corporation annual revenues, 2010 – 2012, (USD billion)

    FIG. 37 United Technologies Corp. annual revenues, 2010 – 2012, (USD billion)

    FIG. 38 Samsung Electronics Co., Ltd., annual revenues, 2010 – 2012, (USD billion)

    FIG. 39 Haier Electronics Group Co. Ltd., annual revenues, 2010 – 2012, (USD million)

    FIG. 40 Lennox International Inc., annual revenues, 2010 – 2012, (USD million)

    FIG. 41 LG Electronics, annual revenues, 2010 – 2012, (USD billion)

    FIG. 42 AB Electrolux, annual revenues, 2010 – 2012, (USD million)

    FIG. 43 Panasonic Corporation, annual revenues, 2010 – 2012, (USD million)

    FIG. 44 Ingersoll-Rand Plc. annual revenues 2010 – 2012 (USD million)

    FIG. 45 Hitachi Ltd. annual revenues 2010 – 2012 (USD million)

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Commercial Air Conditioning Systems (VRF) Market

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