MarketsandMarkets forecasts 11.4% CAGR for VRF market
PUNE, India — The global variable refrigerant flow (VRF) systems market is forecast to reach $24.09 billion by 2022, growing at a compound annual growth rate (CAGR) of 11.4 percent between 2016 and 2022, according to a new report published by MarketsandMarkets.
Factors driving the VRF systems market include increasing demand for improved energy-efficient equipment and lower environmental impact due to use of low-GWP (global warming potential) refrigerants, growing construction activities, and increased legislation and energy management initiatives.