Headline News Volume 630
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eJARN.com Headline News
Date: May 27, 2022, Volume 630
( http://www.ejarn.com )
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< May Special edition>
1. World VRF Market – 2021
Global demand for variable refrigerant flow (VRF) systems in 2021 rebounded after having hit the bottom in 2020, and almost all major markets have shown a recovery trend, although they still do not seem to have recovered to the level prior to the pandemic in 2019. According to JARN’s database, the global VRF market increased by 15.5% compared with 2020, reaching 2.08 million units based on outdoor units.
March Special page 1
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2. United States
In 2021 and the beginning of 2022, the mini-VRF market in the United States rose sharply. The total VRF market increased by 12.0% in 2021, reaching 72,000 units. All major U.S. and foreign brands began to deploy their products in the United States, where VRF products are being used increasingly.
March Special page 12
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3. Europe
VRF demand (173,000 units) in Europe in 2021 was 7.2% higher than in 2020 but still had not recovered to the pre-pandemic level. The shop and hotel markets are slowly recovering, but demand for offices continues to decline. Affected by the pandemic, some countries are faced with a severe shortage of installers, and this factor has hit demand to a certain extent. Based on current market conditions, it will be challenging to return to 2019 levels even by 2023.
March Special page 14
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4. India
In 2021, the estimated VRF market scale in India was 43,000 outdoor units (508,000 hp) with a total equipment value of 12.9 billion Indian rupee (INR) (about US$ 180.6 million), clocking growth of 26% over 2020. This includes side discharge systems up to 12 hp and top-discharge systems larger than 12 hp.
March Special page 32
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5. China
The Chinese VRF market in 2021 increased by about 20.7% year on year to more than 1.33 million units, which accounted for more than 50% of the Chinese CAC market. In the first half of 2021, the VRF market achieved substantial growth compared with the sluggish demand in the same period of 2020, in addition to the consumption recovery and the concentrated release of backlog projects along with the control of the pandemic in China. In the second half of the year, however, the VRF market cooled down rapidly, due to the stricter regulatory policy governing the real estate industry.
March Special page 42
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