OVERVIEW

1:World VRF Market – 2021 Update – 1 OVERVIEW

World VRF Market – 2021 Update – 1 OVERVIEW

Like other packaged air conditioners (PACs), the global variable refrigerant flow (VRF) market was severely hit by the COVID-19 pandemic in 2020. With the exception of China, Turkey and Australia which maintained growth, the major global VRF markets have seen unprecedented declines. Due to the suspension of eco-nomic and trade activities in many countries, demand for VRF systems for commerc

OVERVIEW

1:World VRF Market – 2021 Update – 1 OVERVIEW

Like other packaged air conditioners (PACs), the global variable refrigerant flow (VRF) market was severely hit by the COVID-19 pandemic in 2020. With the exception of China, Turkey and Australia whic...

2.1:2 REGIONAL - 2.1 NORTH AMERICA

Due to the spread of the pandemic, the United States, which has the world’s largest cumulative number of infected people and deaths, recorded a gross domestic product (GDP) with negative year-on...

2.2:2.2 EUROPE

Looking at the European VRF market in 2020, the VRF market in almost all European countries has declined to various degrees. The pandemic has caused lock-downs in many countries, and the economic s...

2.3:2.3 SE ASIA

Tourism is the pillar industry of Southeast Asia’s economy, so the region has been hit hard by the pandemic. VRF projects now tend to be delayed or suspended. Spending on government projects has...

2.4:2.4 INDIA

Reported by Rakesh Kumar, managing editor, ISHRAE Journal   Economic Scenario The Indian economy was adversely impacted due to the nation-wide lockdown imposed towards the end of March 2020 af...

2.5:2.5 AUSTRALIA

According to the Australian Bureau of Statistics, the real GDP from October to December 2020 increased by 3.1% over the previous quarter. Personal consumption is driving GDP growth. In terms of privat...

2.6:2.6 MIDDLE EAST

Since March, the Middle East has taken measures against the pandemic, such as closing schools and commercial facilities, prohibiting gatherings and going out, and locking down cities, to a varying deg...

2.7:2.7 LATIN AMERICA

According to International Monetary Fund (IMF) estimates, the GDP of Central and South America decreased by 8.1% in 2020. International trade has decreased, international prices in the resource market...

2.8:2.8 AFRICA

The current pandemic and political instability have hit the fragile African economy hard. VRF projects have dropped significantly or have been postponed. It is estimated that the VRF market in Africa ...

2.9:2.9 SOUTH KOREA

The Bank of Korea estimates that South Korea’s GDP decreased by 1.0% year on year in 2020. The failure of the government’s housing policy has led to an ongoing rise in housing prices. J...

2.10:2.10 CHINA

In 2020, China’s VRF market including residential and commercial systems grew by 2.2% year on year, with a total sales volume of 1.10 million units. Within this market, the mini-VRF segment grew...

2.11:2.11 JAPAN

In 2020, not only the EHP market was severely hit by the pandemic, but the special demand for GHP in schools also ceased. Along with the stagnation of economic activity, demand for VRF systems dropped...

3.1:3.1 BRAZIL

Reported by ABRAVA, Brazil As in many countries, mini-variable refrigerant flow (VRF) systems in Brazil are mainly used in the residential market. Despite the impact of COVID-19, the Brazilian resi...

3.2:3.2 SPAIN

Reported by AFEC, Spain   Economic Situation Despite the unexpected pandemic and the consequent 11% reduction in gross domestic product (GDP), the Spanish heating, ventilation, and air conditi...

3.3:3.3 RUSSIA

Reported by APIC and Litvinchuk Marketing, Russia After a recorded peak in 2013, sales of variable refrigerant flow (VRF) systems in Russia declined, but had been gradually recovering since 2015. H...

3.4:3.4 ITALY

Reported by Jacques Gandini managing director of Studio Gandini, and Dr. Stefano Portolani of ANDEC Association   According to primary and secondary market intelligence research analysis conduc...

TECHNICAL TRENDS

4:4 TECHNICAL TRENDS

Trends in VRF Refrigerants Currently, refrigerants such as R32, R454B, and R466A are considered as promising alternatives to R410A. However, for variable refrigerant flow (VRF) systems that use a larg...

GHP

5:5 GHP

As affected by the pandemic as EHP, the global demand for GHP decreased by 3.7% to 36,900 units. Gas is an indispensable energy source providing a means of rational and balanced energy utilization....

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