Global VRF System Market Insights, Size and Growth Forecast To 2027
Global VRF system market anticipated driving due to the rise in demand for energy-efficient resources and the growing construction industry. Global VRF system market valued size was over USD 16.36 billion in 2019, and expected to generate USD 43.08 billion by 2027, growing at a CAGR of 11.83 % from 2020 - 2027. The primary factors are a good pace of growth in the construction industry and the easy installation of VRF systems. The rapid economic development and increased standard of living have led to the new wave of building construction in the country. These factors are expected to propel the demand for the VRF system over the coming years. Further, the upsurge in demand for VRF systems for its highly energy-efficient and applications in residential and commercial buildings in saving 40% energy compared with traditional air conditioning equipment is positively impacting the market growth. Expansion of housing markets, rising population, growing industrial base...