EUROPE

VRF growth rates vary widely in Europe depending on the region. As a whole, Europe showed solid growth in the range of 5% year on year. The effects of Brexit are gradually surfacing in the UK, and its VRF market showed 4.7% growth. The market in Turkey, the largest VRF market in Europe, was basically unchanged from the previous year. France, Italy, Spain, and other markets in Southern Europe had momentum with average growth of more than 7.5%.