2.10 CHINA

In 2020, China’s VRF market including residential and commercial systems grew by 2.2% year on year, with a total sales volume of 1.10 million units. Within this market, the mini-VRF segment grew by about 5%. VRFs account for almost half of the entire commercial air conditioning market in China. Affected by the pandemic in the first half of 2020, many projects were suspended, and sales of VRFs suffered a double-digit decrease year on year. With the gradual recovery of the market in the second half of the year, VRF sales increased substantially.