2.2 EUROPE

Beginning in the spring of 2022, renowned brands have experienced shortages of certain models due to the tight supply of semiconductorrelated products that has affected the production of VRFs. Due to these shortages, the VRF market was very sluggish in the first half of the year. Early in the winter, the supply of semiconductors eased, and mini-VRF and multi-split models rebounded, but VRF sales still did not return to the previous year’s level. As a result, total demand for VRFs in 2022 in Europe increased by 4.2%, reached 181,000 units.