According to the World Economic Situation and Prospects for 2018 from the United Nations (UN), the world economy in 2017 showed steady 3% growth compared with 2016, which was the highest growth rate since global economic crisis occurred in 2011.

The year 2017 was a year of great achievement thanks to double-digit growth in China, the largest air conditioner market in the world. The global air conditioner market saw 9.3% year-on-year growth, increasing to 129 million units.

Chillers are the main product in central air conditioning systems. They are adopted mainly in factories for process cooling and are also used for air conditioning in large commercial complexes. The largest systems are used for district heating and cooling.

JARN estimates that the global refrigeration market value in 2016 reached US$ 92 billion including services such as installation and maintenance, showing an increase of about 2.2% compared with 2015. Of the total, commercial applications recorded US$ 58.1 billion, industrial applications amounted to US$ 28.7 billion, and transportation amounted to US$ 5.2 billion.

Air-to-water (ATW) heat pump systems collect atmospheric heat from the air which is used as a heat source to heat water for space heating and hot water supply.

Originating in Japan, variable refrigerant flow (VRF) technology has been obtaining greater recognition in the global air conditioning market and now has 30 years of development history.