Commercial Air Conditioning Systems (VRF) Market: U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, New York (PRWEB) August 27, 2014
The global commercial air conditioning systems (VRF) market is growing gradually after the global economic meltdown of 2008. During and after few years of the global economic crisis this market displayed a decline in the growth. However, the major boost for this market comes from the increasing construction activities around the world, especially in the emerging economies of the world such as China and India.
Resurgence of the commercial air conditioning systems industry is majorly attributed to the increasing construction activities and the growing demand of consumers for energy-efficient products. However, there are many other elements that tend to influence the dynamics of the commercial air conditioning systems (VRF) U.S. Market.
Some of the market drivers are the changing North American landscape for variable refrigerant flow (VRF) air conditioning systems and increasing demand for cost-effective systems. Also, climate variations and stringent government policies help the market to grow. On the other hand, factors such as low awareness about VRF commercial air conditioning systems and complex installation procedure tend to hamper the growth of this market.
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The commercial air conditioning systems market in U.S. according to market analysts, will witness a substantial growth due to the development of energy-efficient systems which incorporate the green technology. Innovative technologies will help to produce more eco-friendly air conditioning systems which can be used for commercial purposes in a more sustainable manner.
Product Proliferation of Commercial Air Conditioning Systems in U.S.
Product-wise the U.S. commercial air conditioning systems market is segmented into split systems, single-packaged systems, portable systems, window systems, and others. The split system is further divided into ducted and non-ducted systems. These systems find their applications in the private, public, and industrial sector. During 2012, split systems dominated the U.S. commercial air conditioning systems market due to their flexibility and ease of installation.
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According to the refrigeration technology, the market is divided into VRF and others. Variable refrigerant flow is divided further into its application types and components type. HVAC manufacturers and distributors are shifting their attention towards the U.S. market of VRF air conditioning systems. The leading key players in this industry are United Technologies Corporation – Climate, Controls, and Security Unit, Samsung Electronics, Haier Inc., Daikin Industries Ltd., Mitsubishi Electric Corporation, Fujitsu General Pty. Ltd., LG Corp., AB Electrolux, and others.
Commercial Air Conditioning Systems - U.S. and Global Market Insights
A market intelligence firm stated that, the commercial air conditioning systems market in U.S. was estimated at $7,251.7 million in 2012 and a growth of CAGR 5.2% will be witnessed for the period of 2013 to 2019. Development in technology and increasing demand will contribute the growth of the global commercial air conditioning systems market for the next few years.
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Countries in the Asia-Pacific region such as Japan and China are highly saturated HVAC market related to VRF technology. On the other hand VRF air conditioning market, in spite of its low response for this technology in the initial years is projected to see steady growth. In U.S., ducted HVAC systems predominant installation has slackened VRF systems transition. Hence, only new constructions prefer to install these systems. However, standardization of VRF technology by the government bodies and revival of construction activities has eased the adoption of VRF technology in the commercial sector.
According to the American Society of Heating, Refrigerating, and Air-Condi¬tioning Engineers Inc., around 50 percent of medium-sized commercial building and one-third of total large commercial buildings use VRF systems. This association also mentions that even though vigorous marketing of VRF systems in United States started only 2 - 3 years back, several thousand systems will likely be sold in the U.S. this year, which will account to tens of thousands of tons capacity.
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