Top 5 Market Leaders in the VRF Systems Market: Supply Market Research and Procurement Insights
Variable Refrigerant Flow (VRF) is known for its superior energy efficiency and ability to offer a quick return on investment in many applications. VRF system is an HVAC technology that was invented in the year 1982 by Daikin Industries. Refrigerants are used as a cooling and heating medium in a VRF System. VRF technology helps deliver a state-of-the-art HVAC solutions for the customers. Some of the key advantages of a modern VRF system includes individual temperature control, zoning, and minimized ductwork. The specific design of a VRF system varies based on the application. The VRF system can either be a heat pump system or a heat recovery system, which provides simultaneous heating and cooling functionalities. The rapid growth of industrial development in developing economies is one of the main factors driving growth in this market. (Source: Global VRF System Market Procurement Intelligence Report).
Top VRF system suppliers
Daikin, a pioneer of VRF system technology, was founded in the year 1924 and headquartered in Osaka, Japan. The company is also a major innovator in the split system air conditioning market. Daikin ventured into the North American air conditioning market in the year 2004. They are operational in over 150 countries around the world and employ approximately 67,000 people.
Mitsubishi Electric is a Japanese multinational electronics and electrical equipment manufacturing company. The company offers a wide range of innovative high-quality products such as Air Conditioners, Power Devices, Visual Information Systems, Power Systems, Photovoltaic (solar) Solutions, Transportation Systems and industrial automation machinery.
Hitachi is a Japan-based company that was founded in the year 1910. They operate in 38 different countries and has a workforce of over 3,00,000 people. Hitachi VRF system has catered to every residential and commercial need of industry since 1984. The company offers a wide variety of outdoor units, covering residential and commercial use. They also provide several indoor units that operate silently and are easy to install.
The Chinese electrical appliance manufacturer Midea was founded in 1968. They have a vast product portfolio including air-treatment products, air-coolers, kettles and rice cookers. In its initial period, the company was engaged in the manufacture of bottle lids and car parts. They focused on manufacturing fully finished goods, specifically electric fans during the early 1980s. After five years, the company produced its first air conditioner, a product which remains the core component of Midea’s business today. They currently have established their presence in over 200 companies.
United technologies rank among the world’s most respected and innovative companies. The company engages in the manufacture of a variety of products including HVAC, aerospace systems, aircraft engines, elevators and escalators, fire and security, building systems, and industrial products. United Technologies is headquartered in Connecticut, US and has established their presence in over 80 countries.
SpendEdge’s procurement report offers strategic insights on top VRF system suppliers and helps category managers to gain information on the pricing models, supply market, procurement trends, and key sourcing procurement challenges affecting the global VRF system market.