China’s VRF Market Grows Explosively in 2021

China’s variable refrigerant flow (VRF) market in 2021 exhibited a strong performance, showing robust recovery from 2020 when the market was negatively impacted by the pandemic and a cooling down of the real estate sector. According to the statistics from aircon.com, China’s VRF market in the first half of 2021 reached about RMB 30 billion (about US$ 4.7 billion), an increase of more than 45% year on year, and more than 30% even compared with the first half of 2019 before the pandemic. For the whole year of 2021, JARN estimates that China’s VRF and mini-VRF market increased by 20% and 30% year on year respectively, based on interviews with China’s major air conditioner and compressor manufacturers.