International. Technology is changing the HVAC industry like never before. More specifically, variable refrigerant flow (VRF) is altering the way people heat and cool educational complexes, health centers, hotels, office buildings, and multifamily residences.
According to research firm MarketsandMarkets, the VRF market exceeded $11 billion in 2015, and this figure is projected to reach more than $24 billion in just five years (by 2022). That equates to a compound annual growth rate of 11.4%.
It is already known that VRF systems have been used in other countries since 1980. It is actually the most popular HVAC technology in many overseas markets, constituting 90% of the commercial systems installed in Japan, 86% in China and 81% in Europe. But it's clear that while the United States may be exposed recently to VRF technology, we're on track to have an equally high usage percentage.
When it comes to VRF use in the United States, the Northeast is currently the most popular market, with the Southwest, West Coast, and Mid-Atlantic also experiencing strong VRF interest. VRF systems are especially popular in places where comfort is of paramount importance, such as health facilities, classrooms, hotels, and office buildings.
