VRF systems’ global market will be USD 22.79 billion by 2023, says Galaxy Cooling Technologies

Dubai, UAE, 23 July 2018: The VRF system market is expected to grow from USD 10.04 billion in 2016 to USD 22.79 billion by 2023, said Mohammad Badri, Director, Galaxy Cooling Technologies, owing to growing need for energy-efficient technology compared to conventional air- conditioning systems. “The complete HVAC market in UAE is said to be around USD 1.5 billion,” he said, “of which VRV only accounts for five per cent. Chilled water units, such as chillers, AHUs,  FCUs, cooling towers and pumps, account for maximum 38%, followed by decorative high wall split units at 30%, ducted split units at around 22% and package units at around 5%.”

Badri said that VRV is well placed in-between to take the market away from the chilled water units and the DX Decorative and  DX Ducted split units, “which only means that VRV will see a good future and take on a greater market share.” He added that Daikin, in partnership with Galaxy Cooling Technologies, has seen this potential and invested resources to gain greater market share in the near future.

Hannah Jo Uy is Assistant Editor at Climate Control Middle East magazine. She may be contacted at hannah@cpi-industry.com