World VRF Market – 2021 Update – 1 OVERVIEW

Like other packaged air conditioners (PACs), the global variable refrigerant flow (VRF) market was severely hit by the COVID-19 pandemic in 2020. With the exception of China, Turkey and Australia which maintained growth, the major global VRF markets have seen unprecedented declines. Due to the suspension of eco-nomic and trade activities in many countries, demand for VRF systems for commercial purposes has suddenly cooled; however, the home office trend has promoted domestic mini-VRF markets, thus offsetting part of the decline in the VRF market as a whole.