Headline News Volume 729
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eJARN.com Headline News
Date: May 29, 2024, Volume 729
( http://www.ejarn.com )
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< May Special edition>
1. World VRF Market in 2023 - OVERVIEW
Data from JARN’s database indicate that the global variable refrigerant flow (VRF) system market in 2023 saw a 5.5% increase in annual sales, reaching 2.08 million units, as measured by outdoor unit sales. This uptick in the market is mainly due to the robust performance of the Indian market and a resurgence in China, which propelled the VRF sector towards consistent growth in 2023.
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2. UNITED STATES
The U.S. total VRF market saw modest 3.9% year-on-year growth, with sales reaching 79,000 units, calculated on an outdoor unit basis. The mini-VRF shipments reached 37,000 units, indicating a year-on-year increase of 5.4%. The commercial VRF sector continued to exhibit consistent growth.
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3. India
India’s VRF market grew by 20%, reaching 70,000 units and valued at Indian rupee (INR) 23 billion (about US$ 276 million). The northern part of the country led sales with a 35% share, of which air-cooled systems represented the vast majority up to 98%. Residential demand boosted side-discharge VRF system sales to 35%, while top-discharge systems reached 65%
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4. China
In 2023, China’s demand for VRF systems saw a 6.7% increase compared with the previous year, with sales reaching 1.14 million units. The mini-VRF sector experienced single-digit growth. From May 2023 onwards, the growth rate of shipments from leading brands significantly decelerated, and both engineering projects and the home improvement retail sector have displayed sluggish growth.
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5. Samsung Improves Real-life VRF Efficiency Using AI Technologies
JARN interviewed Hyeongjoon Seo, Ph.D., head of Air Solution Technology Lab, R&D Team, Samsung, to hear about the company’s variable refrigerant flow (VRF) product business.
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