Hisense

OVERVIEW

1:World VRF Market: 1 OVERVIEW

World VRF Market: 1 OVERVIEW

The World Economic Outlook from the International Monetary Fund (IMF) reported that the global economic upswing that began around mid-2016 has become broader and stronger. The global economic growth rate reached 3.6% in 2017.   Stimulated by the rising economy, the global variable refrigerant flow (VRF) system market continues to grow steadily and reached 1.7 million units in 2017 based on

OVERVIEW

1:World VRF Market: 1 OVERVIEW

The World Economic Outlook from the International Monetary Fund (IMF) reported that the global economic upswing that began around mid-2016 has become broader and stronger. The global economic growth r...

2.1:CHINA

When VRFs entered China in the1990s, they were classified as central air conditioners together with unitary air conditioners and chillers. Since then, the VRF market has grown, and accounted for 52% o...

2.2:EUROPE

VRF growth rates vary widely in Europe depending on the region. As a whole, Europe showed solid growth in the range of 5% year on year. The effects of Brexit are gradually surfacing in the UK, and its...

2.2.1:United Kingdom

The UK’s VRF market recorded only 4.7% growth as the effects of Brexit have begun to emerge. VRF sales in the United Kingdom was 19,900 units in 2017. More than half of the UK’s VRF market...

2.2.2:France

Capital investment did not grow in France, but fair weather in 2017 did help HVAC demand. The VRF market in France increased to 21,000 units in 2017.   France is actively promoting green buildings that use highly heat-insulated walls. The rooms in green buildings are quite warm in winter due to good airtightness provided by double-glazed windows that also offer a shading function. The indoo...

2.2.3:Italy

VRF market scale in Italy increased to 19,000 units in 2017.   Like other European markets, the Italian VRF market is a replacement market. Stores have been increasing their investments, and re...

2.2.4:Spain

Spain saw economic recovery, boosting growth of VRF sales. The VRF market showed double-digit growth, reaching 9,600 units in 2017.   The top two brands in the market are Daikin and Mitsubishi ...

2.2.5:Germany

The German VRF market increased to 12,300 units in 2017, growth of around 7.5%.   Daikin is the leading brand in Germany, followed closely by Mitsubishi Electric and MHI.   Partnering wi...

2.2.6:Turkey

Political stability has helped usher in a greater number of government-led projects. The summer of 2017 also saw heat waves, and VRF demand even in the residential sector is posting steady recovery. ...

2.2.7:Russia

According to the IMF, Russia’s GDP growth rate came to 1.7% in 2017. This is the first positive growth recorded since 2014. The economy was fairly stable in 2017, and investment related to the 2018 FIFA World Cup helped add to VRF demand. Russia’s VRF market increased to 7,000 units in 2017. As long as Russian politics stay stable, substantial growth is expected in 2018.   Daiki...

2.2.8:Others

The VRF market in Eastern Europe is marking steady growth. In addition to Japanese and South Korean players, Chinese companies are also emerging on the scene. Chinese manufacturers position Eastern Europe as a priority market for their VRF products and are increasing their product exports. The entire Eastern European VRF market excluding Russia rose by 20% in 2017 compared with 2016.   Pola...

2.3:JAPAN

Japan is the birthplace of VRF and has the second-largest market scale in the world after China. According to JRAIA, VRF shipments in Japan reached 134,800 units in 2017, a 3.7% increase compared with...

2.4:SE ASIA

The Southeast Asian VRF market of seven countries, namely Vietnam, Singapore, Indonesia, Thailand, Malaysia, the Philippines, and Myanmar, recorded sales of 58,000 units in 2017, an 10.8% increase com...

2.4.1:Vietnam

As Vietnam has undergone sharp economic growth, the number of projects installing VRF has risen. Demand is centered in Ho Chi Minh, where there are many midrise office buildings whose size is suited t...

2.4.2:Singapore

The VRF market in Singapore is dominated by commercial applications such as office buildings. The Singapore government purchases multi-splits instead of mini-VRFs for its public housing projects, than...

2.4.3:Indonesia

The Indonesian VRF market in 2017 increased to 7,400 units. Because of an economic depression, the commercial VRF market is declining as large projects such as office buildings are less numerous. Howe...

2.4.4:Thailand

The Thai VRF market increased to 10,000 units in 2017. With several hotel and condominium projects ordering hundreds of units, the market grew by 25.0% over 2016. Although the market is still relative...

2.4.5:Malaysia

Investment slowed in 2017, including for government-led projects. Malaysian VRF market scale increased slightly to 7,000 units in 2017, showing only 2.9% growth from 2016.   In Malaysia, VRFs a...

2.4.6:The Philippines

The VRF market in the Philippines increased to 6,800 units in 2017. Mini-VRF demand is increasing in the capital of Manila.   Rising electricity costs have strengthened consumer awareness of en...

Toshiba HEPA GMCC JCI Climaveneta ACRA

PHOTO REPORT

Daikin Factory in Vietnam Opening Ceremony

Subscription to Weekly JARN Newsletter (free of charge)

We publish Weekly JARN Newsletter (English/German/Spanish/Chinese/Russian/Japanese) and send it by e-mail. If you would like to receive it, click here.

Hisense