With the ongoing deployment of COVID-19 vaccines worldwide, countries have adopted active fiscal and monetary policies and other measures, and the global economy began to recover in 2021. However, the decarbonization targets ahead are daunting. It has become a consensus that heat pump technology is essential to achieve this goal. In particular, European countries have formulated and promulgated clean energy policies. Many countries have provided generous subsidies for heat pumps, dramatically promoting air-to-water (ATW) heat pump markets. The global ATW heat pump market achieved an excellent V-shaped recovery in 2021, following the relatively low growth rate experienced in 2020.

VRFs can be used in the residential, light commercial, commercial, and industrial fields. Even during the pandemic, VRF technology continues to gain widespread recognition in the global market, and the number of applications continues to increase.

In 2021, the global compressor market rebounded after a significant drop caused by the pandemic. International carbon neutrality policy has accelerated the replacement of refrigerants. Refrigerant replacement in major global markets and the improvement of energy efficiency levels have promoted the technological upgrading of compressors and have brought tremendous business opportunities to the compressor industry.