China air conditioner market is projected to grow from
around $ 33 billion in 2020 to $ 42 billion by 2025 owing to increasing
population, rising disposable income, affordable product offerings, technological
advancements and growing commercial space across the country. Also, increasing
product availability at the e-commerce platforms and easy financing schemes are
expected to further expand the air conditioner usage among the lower middle
class and middle-class income families in the coming years. Additionally,
changing climatic conditions and construction of inbuilt air conditioner and
energy-efficient buildings are the other factors expected to propel demand for air
conditioners in China during the forecast period.
Based
on the product type, China air
conditioner market is segmented into Splits, VRFs, Chillers, Windows, and
Others (Portable, Floor Standing, etc.). In 2019, Split type air conditioners held
the largest share in China air conditioner market due to a wider range offered
by the companies with latest technologies in comparison to window type air
conditioners. In addition, companies are increasingly manufacturing energy-efficient
and affordable air conditioners for the residential segment. Furthermore, VRFs
and chiller type air conditioner are the other emerging market segments due to
increasing workspaces and rising industrialisation,
which will further propel the growth of air conditioner market in the country’s
commercial/industrial sector.
Based on the region, the market is
segmented into North China, East China, North East China, South Central China,
North West China, and South West China. Until 2019, North China held the
largest market share in China air conditioner market due to the region’s higher
GDP, living standards, urbanization as well as population base.
Based on the End Use Sector, China air conditioner
market is segmented into residential sector and commercial/industrial sector. Residential
air conditioner segment holds the largest share in China air conditioner market
due to rapidly increasing population and real estate construction for
residential purpose. However, VRFs and chiller type air conditioner are being highly
opted at large commercial spaces such as factories, offices, and institutions
due to the cost efficiency for the large-scale electricity consumption.
Some of the leading companies in China
air conditioner market include Gree Electric Appliances Inc, Daikin Air Conditioning
Systems (Shanghai) Co., Ltd, Midea Group Co Ltd, Haier Electronics Group Co.,
Ltd, Shanghai Hitachi Household Appliances Co., Ltd., Mitsubishi Corporation
China Co., Ltd, Samsung Engineering Construction (Shanghai) Co., Ltd, Panasonic
Corporation of China, LG Electronics (China) Co. Ltd., Toshiba Carrier Air
Conditioning (China) Co., Ltd, Sharp Electronics Sales China Co Ltd. among
others. Manufacturers are increasing their focus on R&D activities in order
to meet the growing demand for energy efficient air conditioners in China.
Years
considered for this report:
Historical Years: 2015 - 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 - 2025
The objective of the Study:
- To analyze and forecast the market size of the China Air
Conditioner Market.
- To classify and forecast China Air Conditioner Market based on
By Product Type, By End-Use Sector, and By Region.
- To identify drivers and challenges for China Air Conditioner Market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in China Air Conditioner Market.
- To identify and analyze the profile of leading players involved in
the China Air Conditioner Market.
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TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of air conditioner manufacturers operating in China.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the manufacturers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the service offerings,
distribution channels and the presence of all major air conditioner manufacturers
across the globe.
TechSci
Research calculated the market size of the China air conditioner market using a
bottom-up approach, wherein data for various applications across various
end-user segments were recorded and forecast for the future years. TechSci
Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of
these product types and applications for getting an appropriate, overall market
size. Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target
Audience:
- Air Conditioner sellers,
distributors and other stakeholders
- Organizations, forums and
alliances related to air conditioner market
- Government bodies such as regulating
authorities and policy makers
- Market research and
consulting firms
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers
and partners, end-users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
Report Scope:
In this report, China air conditioner
market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- Market, By Product Type
- Split Air Conditioners
- VRFs Air Conditioners
- Chillers Air Conditioners
- Window Air Conditioners
- Others (Portable, Floor
Standing etc.)
- Market, By
End-Use Sector
- Residential
- Commercial/Industrial
- Market,
By Region:
- North
China
- East
China
- North
East China
- South
Central China
- North
West China
- South
West China
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in China air conditioner market.
Available
Customizations
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis
in case of the direct and indirect sales channel.