Australia and New Zealand Water-Cooled Heat Pump VRF Systems Market Research Report: By Application, Capacity - Industry Analysis and Growth Forecast to 2030

Australian water-cooled heat recovery VRF market value is set to reach $31,739.6 thousand by 2030, at an 8.8% CAGR. Similarly, the New Zealand water-cooled heat recovery VRF market revenue, which was estimated at $2,590.8 thousand for 2021, will experience a CAGR of 6.8%, to reach $4,677.2 thousand by 2030. This presents lucrative opportunities for electrical appliance companies, such as Daikin Industries Ltd., LG Electronics Inc., Mitsubishi Electric Corporation, Samsung Electronics Co. Ltd., Toshiba Corporation, Panasonic Corporation, and Hitachi Ltd.

In the coming years, infrastructure development is expected to pick up rapidly in the urban areas of the country, perhaps with tight deadlines to complete projects that were delayed due to the COVID-19 pandemic. This also means that the key Australia and New Zealand water-cooled heat recovery VRF market players would promote their products even more aggressively, to make up for the massive loss of revenue due to the shutting down of industrial and commercial facilities in 2020 and during a significant portion of 2021.

Key Findings of Australia and New Zealand Water-Cooled Heat Recovery VRF Market Report

Another key reason driving the sale of such equipment in Australasia is the growing focus on green buildings. Since VRF systems act as a complete HVAC solution, they eliminate the need for different systems for heating, ventilation, and air conditioning, thus saving energy.
In this regard, a key driver for the Australia and New Zealand water-cooled heat recovery VRF market is the New Zealand Building Council’s target to construct only 100% green buildings from 2030 onwards.
Similarly, the Green Building Council of Australia has set this target for 2050, which will ultimately push up the requirement for VRF systems, especially in its major urban centers, such as Melbourne, Sydney, Adelaide, Hobart, Darwin, Perth, and Brisbane.
Hence, the rapid infrastructure development in these countries is the major driver for water-cooled heat recovery VRF system sales here. For instance, in 2021 Q2, the value of the construction done in Australia rose to $36,415.4 million (AUD 52,875.5 million).
Among all the components of such systems, outdoor units witness the highest installation rate, due to the rising integration of inverter-controlled compressors as a means to save energy.
In the coming years, the sale of indoor units is set to increase the fastest in both the countries, as multiple indoor units are connected to one outdoor unit in a building.

The healthcare category will become a major revenue contributor to the Australia and New Zealand water-cooled heat recovery VRF market in the coming years owing to the government measures to advance their healthcare infrastructure. For instance, the Government of New Zealand has announced an investment of $500.9 million (NZD 700 million) for healthcare infrastructure development and plans to renovate 24 local hospitals in the coming years.

Similarly, many new hospitals are being constructed in Southern Australia and several older ones renovated. This will lead to a high sale of water-cooled heat recovery VRF systems for newer infrastructure as well as to replace the conventional HVAC systems installed in existing spaces. The preference for VRF systems is driven by their energy-saving feature, which is due to the capturing of the waste heat from the areas being cooled and its usage in areas that need to be heated.

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
1.4.1 Volume
1.4.2 Value
1.5 Market Size Breakdown by Segment
1.5.1 Market Segmentation by Application
1.5.2 Market Segmentation by Capacity
1.5.3 Market Segmentation of Countries
1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
2.1.1 Paid
2.1.2 Unpaid
2.1.3 P&S Intelligence Database
2.2 Primary Research
2.2.1 Breakdown of Primary Research, by Country
2.2.2 Breakdown of Primary Research, by Industry Participant
2.2.3 Breakdown of Primary Research, by Designation
2.2.4 Breakdown of Primary Research, by Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive SummaryChapter 4. Voice of Industry Experts/KOLs

Chapter 5. Definition of Market Segments

5.1 By Capacity
5.1.1 0 to 50 kW
5.1.2 51 to 100 kW
5.1.3 Above 100 kW
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.2.2.1 Industries
5.2.2.2 Offices
5.2.2.3 Healthcare
5.2.2.4 Hospitality
5.2.2.5 Others

Chapter 6. Industry Outlook

6.1 Market Dynamics
6.1.1 Trends
6.1.1.1 Rapid construction of green buildings
6.1.2 Drivers
6.1.2.1 Rising number of residential and commercial projects
6.1.2.2 Increasing demand for energy-efficient VRF systems
6.1.3 Impact Analysis of Drivers on Market Forecast
6.1.4 Restraints
6.1.4.1 High initial cost and growing popularity of alternatives
6.1.5 Impact Analysis of Restraints on Market Forecast
6.2 Impact of COVID-19
6.3 Porter’s Five Forces Analysis
6.3.1 Bargaining Power of Buyers
6.3.2 Bargaining Power of Suppliers
6.3.3 Intensity of Rivalry
6.3.4 Threat of New Entrants
6.3.5 Threat of Substitutes

Chapter 7. Australia Market Size and Forecast

7.1 Overview
7.2 Market Volume, by Capacity (2017-2030)
7.3 Market Revenue, by Capacity (2017-2030)
7.4 Market Volume, by Application (2017-2030)
7.5 Market Revenue, by Application (2017-2030)
7.5.1 Market Volume, by Commercial Application (2017-2030)
7.5.2 Market Revenue, by Commercial Application (2017-2030)

Chapter 8. New Zealand Market Size and Forecast

8.1 Overview
8.2 Market Volume, by Capacity (2017-2030)
8.3 Market Revenue, by Capacity (2017-2030)
8.4 Market Volume, by Application (2017-2030)
8.5 Market Revenue, by Application (2017-2030)
8.5.1 Market Volume, by Commercial Application (2017-2030)
8.5.2 Market Revenue, by Commercial Application (2017-2030)

Chapter 9. Competitive Landscape

9.1 List of Market Players and Their Offerings
9.2 Competitive Benchmarking of Key Players
9.3 Market Share Analysis of Key Players
9.3.1 Australia Water-Cooled Heat Pump VRF Systems Market
9.3.2 New Zealand Water-Cooled Heat Pump VRF Systems Market

Chapter 10. Company Profiles

10.1 Mitsubishi Electric Corporation
10.1.1 Business Overview
10.1.2 Product and Service Offerings
10.1.3 Key Financial Summary
10.2 Daikin Industries Ltd.
10.2.1 Business Overview
10.2.2 Product and Service Offerings
10.2.3 Key Financial Summary
10.3 Johnson Controls International plc
10.3.1 Business Overview
10.3.2 Product and Service Offerings
10.3.3 Key Financial Summary
10.4 Kirby HVAC&R Pty. Ltd.
10.4.1 Business Overview
10.4.2 Product and Service Offerings
10.5 Carrier Global Corporation Inc.
10.5.1 Business Overview
10.5.2 Product and Service Offerings
10.5.3 Key Financial Summary
10.6 LG Electronics Inc.
10.6.1 Business Overview
10.6.2 Product and Service Offerings
10.6.3 Key Financial Summary
10.7 Clivet Spa
10.7.1 Business Overview
10.7.2 Product and Service Offerings
10.8 Adelaide Geoexchange Pty. Ltd.
10.8.1 Business Overview
10.8.2 Product and Service Offerings

Chapter 11. Appendix

11.1 Abbreviations
11.2 Sources and References
11.3 Related Reports

LIST OF TABLES

Table 1 ANALYSIS PERIOD OF THE STUDY
Table 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
Table 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
Table 4 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2017-2021)
Table 5 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2022-2026)
Table 6 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2027-2030)
Table 7 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2017-2021)
Table 8 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2022-2026)
Table 9 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2027-2030)
Table 10 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2017-2021)
Table 11 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2022-2026)
Table 12 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2027-2030)
Table 13 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2017-2021)
Table 14 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2022-2026)
Table 15 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2027-2030)
Table 16 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2017-2021)
Table 17 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2022-2026)
Table 18 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2027-2030)
Table 19 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2017-2021)
Table 20 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2022-2026)
Table 21 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2027-2030)
Table 22 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2017-2021)
Table 23 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2022-2026)
Table 24 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2027-2030)
Table 25 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2017-2021)
Table 26 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2022-2026)
Table 27 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2027-2030)
Table 28 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2017-2021)
Table 29 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2022-2026)
Table 30 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2027-2030)
Table 31 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2017-2021)
Table 32 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2022-2026)
Table 33 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2027-2030)
Table 34 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2017-2021)
Table 35 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2022-2026)
Table 36 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2027-2030)
Table 37 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2017-2021)
Table 38 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2022-2026)
Table 39 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2027-2030)
Table 40 LIST OF MARKET PLAYERS AND THEIR OFFERINGS
Table 41 COMPETITIVE BENCHMARKING OF KEY PLAYERS
Table 42 MITSUBISHI ELECTRIC CORPORATION - AT A GLANCE
Table 43 MITSUBISHI ELECTRIC CORPORATION - KEY FINANCIAL SUMMARY
Table 44 DAIKIN INDUSTRIES LTD. - AT A GLANCE
Table 45 DAIKIN INDUSTRIES LTD. - KEY FINANCIAL SUMMARY
Table 46 JOHNSON CONTROLS INTERNATIONAL PLC - AT A GLANCE
Table 47 JOHNSON CONTROLS INTERNATIONAL PLC - KEY FINANCIAL SUMMARY
Table 48 KIRBY HVAC&R PTY. LTD. - AT A GLANCE
Table 49 CARRIER GLOBAL CORPORATION INC. - AT A GLANCE
Table 50 CARRIER GLOBAL CORPORATION INC. - KEY FINANCIAL SUMMARY
Table 51 LG ELECTRONICS INC. - AT A GLANCE
Table 52 LG ELECTRONICS INC. - KEY FINANCIAL SUMMARY
Table 53 CLIVET SPA - AT A GLANCE
Table 54 ADELAIDE GEOEXCHANGE PTY. LTD. - AT A GLANCE

List of Figures

Figure 1 MARKET SIZE BREAKDOWN BY SEGMENT
Figure 2 RESEARCH METHODOLOGY
Figure 3 BREAKDOWN OF PRIMARY RESEARCH, BY COUNTRY
Figure 4 BREAKDOWN OF PRIMARY RESEARCH, BY INDUSTRY PARTICIPANT
Figure 5 BREAKDOWN OF PRIMARY RESEARCH, BY DESIGNATION
Figure 6 BREAKDOWN OF PRIMARY RESEARCH, BY COMPANY TYPE
Figure 7 DATA TRIANGULATION APPROACH
Figure 8 CURRENCY CONVERSION RATES FOR USD (2021)
Figure 9 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET SUMMARY
Figure 10 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET SUMMARY
Figure 11 VOICE OF INDUSTRY EXPERTS/KOLS
Figure 12 BARGAINING POWER OF BUYERS
Figure 13 BARGAINING POWER OF SUPPLIERS
Figure 14 INTENSITY OF RIVALRY
Figure 15 THREAT OF NEW ENTRANTS
Figure 16 THREAT OF SUBSTITUTES
Figure 17 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2017-2030)
Figure 18 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2017-2030)
Figure 19 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2017-2030)
Figure 20 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2017-2030)
Figure 21 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2017-2030)
Figure 22 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2017-2030)
Figure 23 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, UNITS (2017-2030)
Figure 24 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY CAPACITY, $’000 (2017-2030)
Figure 25 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, UNITS (2017-2030)
Figure 26 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY APPLICATION, $’000 (2017-2030)
Figure 27 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, UNITS (2017-2030)
Figure 28 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET, BY COMMERCIAL APPLICATION, $’000 (2017-2030)
Figure 29 AUSTRALIA WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET SHARE OF KEY PLAYERS BY REVENUE (2021)
Figure 30 NEW ZEALAND WATER-COOLED HEAT PUMP VRF SYSTEMS MARKET SHARE OF KEY PLAYERS BY REVENUE (2021)
Figure 31 MITSUBISHI ELECTRIC CORPORATION - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2021)
Figure 32 DAIKIN INDUSTRIES LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 33 JOHNSON CONTROLS INTERNATIONAL PLC - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2021)
Figure 34 CARRIER GLOBAL CORPORATION INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)
Figure 35 LG ELECTRONICS INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)