China air conditioner market is projected to grow from around $ 33 billion in 2020 to $ 42 billion by 2025
NEW YORK, Aug. 24, 2020 /PRNewswire/ -- China Air Conditioner Market, By Product Type (Splits, VRFs, Chillers, Windows, and Others (Portable, Floor Standing, etc.)), By End-Use Sector (Residential Vs Commercial/Industrial), By Region (North, East, North East, South Central, North West, South West) Competition, Forecast & Opportunities, 2025
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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.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of air conditioner manufacturers operating in China.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and the presence of all major air conditioner manufacturers across the globe.
The analyst 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. The analyst 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 the analyst.
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
o Split Air Conditioners
o VRFs Air Conditioners
o Chillers Air Conditioners
o Window Air Conditioners
o Others (Portable, Floor Standing etc.)
• Market, By End-Use Sector
o Residential
o Commercial/Industrial
• Market, By Region:
o North China
o East China
o North East China
o South Central China
o North West China
o 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, we 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.
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