VRFs have maintained rapid growth in China over the past 10 years, but this growth has started to slow along with decelerated growth in the real estate sector. VRF is favored by design firms and real estate developers in China and has become the first choice for both government and private projects. Government purchase projects usually impose strict requirements on quality and technology that VRF systems are able to meet, leading to a high ratio of VRFs in government purchase projects.
In 2015, owing to the sluggish real estate market, the VRF market in China dropped by 7.8% year on year, down to 695,000 units, showing negative growth for the first time. On the other hand, mini-VRFs showed continuous growth, indicating 11.8% year-on-year growth.