Headline News Volume 480
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eJARN.com Headline News
Date: May 24, 2019, Volume 480
( http://www.ejarn.com )
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<May VRF Special edition>
1. World VRF Market 2018 - OVERVIEW
Despite the unfavorable global economic situation and weather conditions in 2018, the variable refrigerant flow (VRF) market still achieved a relatively good performance compared with the air conditioning market as a whole. According to JARN statistics, based on outdoor units, the global VRF market has reached 1.77 million units, an increase of 5.7% over the previous year.
May Special page 1
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2. China
Affected by the economic situation, China’s VRF market, including residential and commercial sectors, grew by 4.7% in 2018 compared with the previous year, with total sales of 1.04 million units. Among them, the sales growth of mini-VRFs for the home improvement retail market has slowed down drastically. There are fewer big real estate projects due to changes in real estate policy, and price competition is very intense.
May Special page 12
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3. Europe
Economic conditions in major European Union (EU) countries have entered a phase of steady recovery. Newly built apartments in Europe maintained stable growth, and the number of building retrofit projects is increasing, which has boosted growth of the VRF market. The VRF market including mini-VRFs has seen growth of about 3.5% on the basis of outdoor units in 2018, which amounted to 172,300 units, showing a year-on-year decrease in terms of growth rate.
May Special page 14
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4. Southeast Asia
The Southeast Asian market is one of the most attractive VRF markets. Despite unsatisfactory weather and economic conditions, the VRF market maintained strong growth. Seven major countries in Southeast Asia, comprising Vietnam, Thailand, Singapore, the Philippines, Indonesia, Malaysia, and Myanmar, have cumulatively seen total demand up to 61,800 units in 2018, indicating 6.6% growth year on year.
May Special page 26
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5. North America
In 2018, the U.S. VRF market grew by 17.8% to reach 62,800 units. The efforts of Japanese manufacturers have greatly increased awareness of VRF technology in North America, and the U.S. market growth is expected to accelerate. Many manufacturers are optimistic about the potential market of the United States and are actively exploring merger and acquisition (M&A) opportunities. AHR Expo attracts lots of Asian VRF manufacturers and is a good example. The demand for mini-VRF systems used in high-end apartments and town houses in New York and other places has increased dramatically. The growth rate of single-phase mini-VRFs is higher than that of commercial VRFs.
May Special page 32
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6. India
In India, gross domestic product (GDP) growth has reached 7.3%. The market scale of VRF systems in 2018 reached 46,300 units and 14.7% year-on-year growth. VRF is the fastest growing segment in the Indian heating, ventilation, and air conditioning (HVAC) market. Almost 98% of VRFs sold in India are air-cooled.
The major VRF system brands in the Indian market include Daikin, Toshiba and Carrier, LG, Blue Star, Mitsubishi Electric, Hitachi, Samsung, and Voltas, and the leader is Daikin.
May Special page 34
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