ALPHARETTA, Ga. — The variable-refrigerant flow (VRF) slice of the U.S. HVAC market was worth approximately $382.9 million in 2012, up a mere 23 percent from $311.7 in 2011, according to LG Electronics executives at a company press event held in October 2013. In relative terms, many HVAC executives would be quite happy with a 23 percent growth during what is commonly being tagged a slow-growth U.S. economy. However, Kevin McNamara, vice president, commercial a/c and energy solutions division, LG, led off the company event with the almost sheepish admission that the U.S. market greatly lags behind world market demands for VRF products.
McNamara shared observations of general growth in single and multifamily dwellings that have raised all ships during 2012, and his expectations for 2013. He particularly pointed to the multifamily market as a place where LG has found significant opportunities to showcase its VRF technologies. “Growth in single-family construction was 29 percent in 2012 and was expected to settle in at 27 percent in 2013. Multifamily growth in 2012 was up 33 percent, and we expect that to be somewhat less, but strong at 23 percent in 2013.”