2.11 JAPAN

In 2020, not only the EHP market was severely hit by the pandemic, but the special demand for GHP in schools also ceased. Along with the stagnation of economic activity, demand for VRF systems dropped rapidly and drastically. The VRF market in Japan in 2020 decreased by 10.8% compared with 2019, reaching 142,300 units. Japan is the birthplace of VRF systems and has the second-largest market scale in the world after China. The Japanese market is very mature with slight growth year on year. The market has been dominated by several giants.