The global food distribution industry has maintained development. JARN estimates that the global refrigeration market value in 2019 reached US$ 104.8 billion including services such as installation and maintenance, an increase of about 4.2% compared with 2018.

Thanks to subsidy policies for renewable energy, the global air-to-water (ATW) heat pump market has continued to maintain rapid growth. In 2019, the global ATW heat pump demand, including China, reached 3.42 million units, rising by 25.8% year on year. The major markets are concentrated in China, Europe, and Japan, accounting for 62.8%, 18.1%, and 14.9% of the global market respectively.

According to JARN’s database, based on outdoor units, the global variable refrigerant flow (VRF) system market has reached 1.86 million units. The growth rate of VRFs was only 4.9% because of a persistently sluggish economy, but mini-VRFs for homes and small offices continued to maintain a high growth rate, with an increase rate of 8.6%. Compared with other types of air conditioning, VRF is still popular for its unique features.