Table of Contents 1 Report Overview 1.1 Study Scope 1.2 Key Market Segments 1.3 Players Covered: Ranking by Variable Refrigerant Flow (VRF) Systems Revenue 1.4 Market Analysis by Type 1.4.1 Global Variable Refrigerant Flow (VRF) Systems Market Size Growth Rate by Type: 2020 VS 2026 1.4.2 Heat Recovery System 1.4.3 Heat Pump System 1.5 Market by Application 1.5.1 Global Variable Refrigerant Flow (VRF) Systems Market Share by Application: 2020 VS 2026 1.5.2 Commercial 1.5.3 Residential 1.5.4 Other Applications 1.6 Study Objectives 1.7 Years Considered 2 Global Growth Trends by Regions 2.1 Variable Refrigerant Flow (VRF) Systems Market Perspective (2015-2026) 2.2 Variable Refrigerant Flow (VRF) Systems Growth Trends by Regions 2.2.1 Variable Refrigerant Flow (VRF) Systems Market Size by Regions: 2015 VS 2020 VS 2026 2.2.2 Variable Refrigerant Flow (VRF) Systems Historic Market Share by Regions (2015-2020) 2.2.3 Variable Refrigerant Flow (VRF) Systems Forecasted Market Size by Regions (2021-2026) 2.3 Industry Trends and Growth Strategy 2.3.1 Market Top Trends 2.3.2 Market Drivers 2.3.3 Market Challenges 2.3.4 Porter’s Five Forces Analysis 2.3.5 Variable Refrigerant Flow (VRF) Systems Market Growth Strategy 2.3.6 Primary Interviews with Key Variable Refrigerant Flow (VRF) Systems Players (Opinion Leaders) 3 Competition Landscape by Key Players 3.1 Global Top Variable Refrigerant Flow (VRF) Systems Players by Market Size 3.1.1 Global Top Variable Refrigerant Flow (VRF) Systems Players by Revenue (2015-2020) 3.1.2 Global Variable Refrigerant Flow (VRF) Systems Revenue Market Share by Players (2015-2020) 3.1.3 Global Variable Refrigerant Flow (VRF) Systems Market Share by Company Type (Tier 1, Tier 2 and Tier 3) 3.2 Global Variable Refrigerant Flow (VRF) Systems Market Concentration Ratio 3.2.1 Global Variable Refrigerant Flow (VRF) Systems Market Concentration Ratio (CR5 and HHI) 3.2.2 Global Top 10 and Top 5 Companies by Variable Refrigerant Flow (VRF) Systems Revenue in 2019 3.3 Variable Refrigerant Flow (VRF) Systems Key Players Head office and Area Served 3.4 Key Players Variable Refrigerant Flow (VRF) Systems Product Solution and Service 3.5 Date of Enter into Variable Refrigerant Flow (VRF) Systems Market 3.6 Mergers & Acquisitions, Expansion Plans 4 Breakdown Data by Type (2015-2026) 4.1 Global Variable Refrigerant Flow (VRF) Systems Historic Market Size by Type (2015-2020) 4.2 Global Variable Refrigerant Flow (VRF) Systems Forecasted Market Size by Type (2021-2026) 5 Variable Refrigerant Flow (VRF) Systems Breakdown Data by Application (2015-2026) 5.1 Global Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 5.2 Global Variable Refrigerant Flow (VRF) Systems Forecasted Market Size by Application (2021-2026) 6 North America 6.1 North America Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 6.2 Variable Refrigerant Flow (VRF) Systems Key Players in North America (2019-2020) 6.3 North America Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 6.4 North America Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 7 Europe 7.1 Europe Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 7.2 Variable Refrigerant Flow (VRF) Systems Key Players in Europe (2019-2020) 7.3 Europe Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 7.4 Europe Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 8 China 8.1 China Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 8.2 Variable Refrigerant Flow (VRF) Systems Key Players in China (2019-2020) 8.3 China Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 8.4 China Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 9 Japan 9.1 Japan Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 9.2 Variable Refrigerant Flow (VRF) Systems Key Players in Japan (2019-2020) 9.3 Japan Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 9.4 Japan Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 10 Southeast Asia 10.1 Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 10.2 Variable Refrigerant Flow (VRF) Systems Key Players in Southeast Asia (2019-2020) 10.3 Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 10.4 Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 11 India 11.1 India Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 11.2 Variable Refrigerant Flow (VRF) Systems Key Players in India (2019-2020) 11.3 India Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 11.4 India Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 12 Central & South America 12.1 Central & South America Variable Refrigerant Flow (VRF) Systems Market Size (2015-2020) 12.2 Variable Refrigerant Flow (VRF) Systems Key Players in Central & South America (2019-2020) 12.3 Central & South America Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) 12.4 Central & South America Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) 13 Key Players Profiles 13.1 Daikin industries 13.1.1 Daikin industries Company Details 13.1.2 Daikin industries Business Overview and Its Total Revenue 13.1.3 Daikin industries Variable Refrigerant Flow (VRF) Systems Introduction 13.1.4 Daikin industries Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020)) 13.1.5 Daikin industries Recent Development 13.2 Mitsubishi Electrical 13.2.1 Mitsubishi Electrical Company Details 13.2.2 Mitsubishi Electrical Business Overview and Its Total Revenue 13.2.3 Mitsubishi Electrical Variable Refrigerant Flow (VRF) Systems Introduction 13.2.4 Mitsubishi Electrical Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.2.5 Mitsubishi Electrical Recent Development 13.3 Toshiba Corporation 13.3.1 Toshiba Corporation Company Details 13.3.2 Toshiba Corporation Business Overview and Its Total Revenue 13.3.3 Toshiba Corporation Variable Refrigerant Flow (VRF) Systems Introduction 13.3.4 Toshiba Corporation Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.3.5 Toshiba Corporation Recent Development 13.4 Ingersoll Rand 13.4.1 Ingersoll Rand Company Details 13.4.2 Ingersoll Rand Business Overview and Its Total Revenue 13.4.3 Ingersoll Rand Variable Refrigerant Flow (VRF) Systems Introduction 13.4.4 Ingersoll Rand Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.4.5 Ingersoll Rand Recent Development 13.5 LG Electronics 13.5.1 LG Electronics Company Details 13.5.2 LG Electronics Business Overview and Its Total Revenue 13.5.3 LG Electronics Variable Refrigerant Flow (VRF) Systems Introduction 13.5.4 LG Electronics Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.5.5 LG Electronics Recent Development 13.6 United Technologies Corporation 13.6.1 United Technologies Corporation Company Details 13.6.2 United Technologies Corporation Business Overview and Its Total Revenue 13.6.3 United Technologies Corporation Variable Refrigerant Flow (VRF) Systems Introduction 13.6.4 United Technologies Corporation Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.6.5 United Technologies Corporation Recent Development 13.7 Lennox International 13.7.1 Lennox International Company Details 13.7.2 Lennox International Business Overview and Its Total Revenue 13.7.3 Lennox International Variable Refrigerant Flow (VRF) Systems Introduction 13.7.4 Lennox International Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.7.5 Lennox International Recent Development 13.8 Johnson Controls 13.8.1 Johnson Controls Company Details 13.8.2 Johnson Controls Business Overview and Its Total Revenue 13.8.3 Johnson Controls Variable Refrigerant Flow (VRF) Systems Introduction 13.8.4 Johnson Controls Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.8.5 Johnson Controls Recent Development 13.9 Fujitsu 13.9.1 Fujitsu Company Details 13.9.2 Fujitsu Business Overview and Its Total Revenue 13.9.3 Fujitsu Variable Refrigerant Flow (VRF) Systems Introduction 13.9.4 Fujitsu Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.9.5 Fujitsu Recent Development 13.10 Midea Group 13.10.1 Midea Group Company Details 13.10.2 Midea Group Business Overview and Its Total Revenue 13.10.3 Midea Group Variable Refrigerant Flow (VRF) Systems Introduction 13.10.4 Midea Group Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) 13.10.5 Midea Group Recent Development 14 Analyst's Viewpoints/Conclusions 15 Appendix 15.1 Research Methodology 15.1.1 Methodology/Research Approach 15.1.2 Data Source 15.2 Disclaimer 15.3 Author Details

List of Tables Table 1. Variable Refrigerant Flow (VRF) Systems Key Market Segments Table 2. Key Players Covered: Ranking by Variable Refrigerant Flow (VRF) Systems Revenue Table 3. Ranking of Global Top Variable Refrigerant Flow (VRF) Systems Manufacturers by Revenue (US$ Million) in 2019 Table 4. Global Variable Refrigerant Flow (VRF) Systems Market Size Growth Rate by Type (US$ Million): 2020 VS 2026 Table 5. Key Players of Heat Recovery System Table 6. Key Players of Heat Pump System Table 7. Global Variable Refrigerant Flow (VRF) Systems Market Size Growth by Application (US$ Million): 2020 VS 2026 Table 8. Global Variable Refrigerant Flow (VRF) Systems Market Size by Regions (US$ Million): 2020 VS 2026 Table 9. Global Variable Refrigerant Flow (VRF) Systems Market Size by Regions (2015-2020) (US$ Million) Table 10. Global Variable Refrigerant Flow (VRF) Systems Market Share by Regions (2015-2020) Table 11. Global Variable Refrigerant Flow (VRF) Systems Forecasted Market Size by Regions (2021-2026) (US$ Million) Table 12. Global Variable Refrigerant Flow (VRF) Systems Market Share by Regions (2021-2026) Table 13. Market Top Trends Table 14. Key Drivers: Impact Analysis Table 15. Key Challenges Table 16. Variable Refrigerant Flow (VRF) Systems Market Growth Strategy Table 17. Main Points Interviewed from Key Variable Refrigerant Flow (VRF) Systems Players Table 18. Global Variable Refrigerant Flow (VRF) Systems Revenue by Players (2015-2020) (Million US$) Table 19. Global Variable Refrigerant Flow (VRF) Systems Market Share by Players (2015-2020) Table 20. Global Top Variable Refrigerant Flow (VRF) Systems Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Variable Refrigerant Flow (VRF) Systems as of 2019) Table 21. Global Variable Refrigerant Flow (VRF) Systems by Players Market Concentration Ratio (CR5 and HHI) Table 22. Key Players Headquarters and Area Served Table 23. Key Players Variable Refrigerant Flow (VRF) Systems Product Solution and Service Table 24. Date of Enter into Variable Refrigerant Flow (VRF) Systems Market Table 25. Mergers & Acquisitions, Expansion Plans Table 26. Global Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 27. Global Variable Refrigerant Flow (VRF) Systems Market Size Share by Type (2015-2020) Table 28. Global Variable Refrigerant Flow (VRF) Systems Revenue Market Share by Type (2021-2026) Table 29. Global Variable Refrigerant Flow (VRF) Systems Market Size Share by Application (2015-2020) Table 30. Global Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 31. Global Variable Refrigerant Flow (VRF) Systems Market Size Share by Application (2021-2026) Table 32. North America Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 33. North America Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 34. North America Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 35. North America Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 36. North America Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 37. North America Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 38. Europe Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 39. Europe Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 40. Europe Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 41. Europe Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 42. Europe Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 43. Europe Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 44. China Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 45. China Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 46. China Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 47. China Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 48. China Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 49. China Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 50. Japan Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 51. Japan Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 52. Japan Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 53. Japan Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 54. Japan Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 55. Japan Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 56. Southeast Asia Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 57. Southeast Asia Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 58. Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 59. Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 60. Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 61. Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 62. India Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 63. India Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 64. India Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 65. India Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 66. India Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 67. India Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 68. Central & South America Key Players Variable Refrigerant Flow (VRF) Systems Revenue (2019-2020) (Million US$) Table 69. Central & South America Key Players Variable Refrigerant Flow (VRF) Systems Market Share (2019-2020) Table 70. Central & South America Variable Refrigerant Flow (VRF) Systems Market Size by Type (2015-2020) (Million US$) Table 71. Central & South America Variable Refrigerant Flow (VRF) Systems Market Share by Type (2015-2020) Table 72. Central & South America Variable Refrigerant Flow (VRF) Systems Market Size by Application (2015-2020) (Million US$) Table 73. Central & South America Variable Refrigerant Flow (VRF) Systems Market Share by Application (2015-2020) Table 74. Daikin industries Company Details Table 75. Daikin industries Business Overview Table 76. Daikin industries Product Table 77. Daikin industries Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 78. Daikin industries Recent Development Table 79. Mitsubishi Electrical Company Details Table 80. Mitsubishi Electrical Business Overview Table 81. Mitsubishi Electrical Product Table 82. Mitsubishi Electrical Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 83. Mitsubishi Electrical Recent Development Table 84. Toshiba Corporation Company Details Table 85. Toshiba Corporation Business Overview Table 86. Toshiba Corporation Product Table 87. Toshiba Corporation Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 88. Toshiba Corporation Recent Development Table 89. Ingersoll Rand Company Details Table 90. Ingersoll Rand Business Overview Table 91. Ingersoll Rand Product Table 92. Ingersoll Rand Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 93. Ingersoll Rand Recent Development Table 94. LG Electronics Company Details Table 95. LG Electronics Business Overview Table 96. LG Electronics Product Table 97. LG Electronics Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 98. LG Electronics Recent Development Table 99. United Technologies Corporation Company Details Table 100. United Technologies Corporation Business Overview Table 101. United Technologies Corporation Product Table 102. United Technologies Corporation Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 103. United Technologies Corporation Recent Development Table 104. Lennox International Company Details Table 105. Lennox International Business Overview Table 106. Lennox International Product Table 107. Lennox International Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 108. Lennox International Recent Development Table 109. Johnson Controls Business Overview Table 110. Johnson Controls Product Table 111. Johnson Controls Company Details Table 112. Johnson Controls Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 113. Johnson Controls Recent Development Table 114. Fujitsu Company Details Table 115. Fujitsu Business Overview Table 116. Fujitsu Product Table 117. Fujitsu Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 118. Fujitsu Recent Development Table 119. Midea Group Company Details Table 120. Midea Group Business Overview Table 121. Midea Group Product Table 122. Midea Group Revenue in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) (Million US$) Table 123. Midea Group Recent Development Table 124. Research Programs/Design for This Report Table 125. Key Data Information from Secondary Sources Table 126. Key Data Information from Primary Sources List of Figures Figure 1. Global Variable Refrigerant Flow (VRF) Systems Market Share by Type: 2020 VS 2026 Figure 2. Heat Recovery System Features Figure 3. Heat Pump System Features Figure 4. Global Variable Refrigerant Flow (VRF) Systems Market Share by Application: 2020 VS 2026 Figure 5. Commercial Case Studies Figure 6. Residential Case Studies Figure 7. Other Applications Case Studies Figure 8. Variable Refrigerant Flow (VRF) Systems Report Years Considered Figure 9. Global Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth 2015-2026 (US$ Million) Figure 10. Global Variable Refrigerant Flow (VRF) Systems Market Share by Regions: 2020 VS 2026 Figure 11. Global Variable Refrigerant Flow (VRF) Systems Market Share by Regions (2021-2026) Figure 12. Porter's Five Forces Analysis Figure 13. Global Variable Refrigerant Flow (VRF) Systems Market Share by Players in 2019 Figure 14. Global Top Variable Refrigerant Flow (VRF) Systems Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Variable Refrigerant Flow (VRF) Systems as of 2019 Figure 15. The Top 10 and 5 Players Market Share by Variable Refrigerant Flow (VRF) Systems Revenue in 2019 Figure 16. North America Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 17. Europe Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 18. China Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 19. Japan Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 20. Southeast Asia Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 21. India Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 22. Central & South America Variable Refrigerant Flow (VRF) Systems Market Size YoY Growth (2015-2020) (Million US$) Figure 23. Daikin industries Total Revenue (US$ Million): 2019 Compared with 2018 Figure 24. Daikin industries Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 25. Mitsubishi Electrical Total Revenue (US$ Million): 2019 Compared with 2018 Figure 26. Mitsubishi Electrical Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 27. Toshiba Corporation Total Revenue (US$ Million): 2019 Compared with 2018 Figure 28. Toshiba Corporation Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 29. Ingersoll Rand Total Revenue (US$ Million): 2019 Compared with 2018 Figure 30. Ingersoll Rand Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 31. LG Electronics Total Revenue (US$ Million): 2019 Compared with 2018 Figure 32. LG Electronics Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 33. United Technologies Corporation Total Revenue (US$ Million): 2019 Compared with 2018 Figure 34. United Technologies Corporation Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 35. Lennox International Total Revenue (US$ Million): 2019 Compared with 2018 Figure 36. Lennox International Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 37. Johnson Controls Total Revenue (US$ Million): 2019 Compared with 2018 Figure 38. Johnson Controls Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 39. Fujitsu Total Revenue (US$ Million): 2019 Compared with 2018 Figure 40. Fujitsu Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 41. Midea Group Total Revenue (US$ Million): 2019 Compared with 2018 Figure 42. Midea Group Revenue Growth Rate in Variable Refrigerant Flow (VRF) Systems Business (2015-2020) Figure 43. Bottom-up and Top-down Approaches for This Report Figure 44. Data Triangulation Figure 45. Key Executives Interviewed

Daikin industries Mitsubishi Electrical Toshiba Corporation Ingersoll Rand LG Electronics United Technologies Corporation Lennox International Johnson Controls Fujitsu Midea Group