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2. 4 SE ASIA
2017/05/28
The Southeast Asian VRF market of seven countries, namely Vietnam, Singapore, Indonesia, Thailand, Malaysia, the Philippines, and Myanmar, recorded sales of 52,400 units in 2016, a 16.8% increase compared with 2015. Demand from commercial buildings, villas, and hotels has been rising sharply in the region, and is the main driver of market growth. Thanks to a decrease in the cost of heat pumps, almost all of the current VRFs have a heat pump function. Now, cooling-only VRF is rarely seen in the region.
 
The market characteristics of each country in Southeast Asia vary widely. In Singapore, VRF technology has been used for about two decades and has achieved high recognition. Other markets have only ten years’ experience with VRFs. However, the Vietnamese market is rapidly expanding and is in the top position in Southeast Asia.
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