Chinese Air Conditioner Market Projected to Grow from $33 Billion in 2020 to $42 Billion by 2025
DUBLIN, Aug. 27, 2020 /PRNewswire/ -- The "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, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Chinese 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 the demand for air conditioners in China during the forecast period.
Based on the product type, the Chinese 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 the Chinese 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 the Chinese Air Conditioner Market due to the region's higher GDP, living standards, urbanization as well as population base.
Based on the End-Use Sector, the Chinese 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 the Chinese 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
Objective of the Study
- To analyze and forecast the market size of the the Chinese Air Conditioner Market.
- To classify and forecast the Chinese Air Conditioner Market based on By Product Type, By End-Use Sector, and By Region.
- To identify drivers and challenges for the Chinese Air Conditioner Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Chinese Air Conditioner Market.
- To identify and analyze the profile of leading players involved in the Chinese Air Conditioner Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
4.1. Brand Awareness
4.2. Factors Influencing Purchase Decisions
4.3. Brand Satisfaction
4.4. Challenges Faced Post Purchase
5. Global Air Conditioner Market Overview
6. China Air Conditioner Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Product Type (Splits, VRFs, Chillers, Windows, and Others)
6.2.2. By End-Use Sector (Residential Vs Commercial/Industrial)
6.2.3. By Region (North China, East China, North East China, South Central China, North West China, South West China)
6.2.4. By Company
6.3. Market Attractiveness Index
6.3.1. By Product Type
6.3.2. By Region
7. China Split Air Conditioner Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By End Use Sector (Residential Vs Commercial/Industrial)
7.3. Product Benchmarking
8. China VRFs Air Conditioner Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By End Use Sector (Residential Vs Commercial/Industrial)
8.3. Product Benchmarking
9. China Chillers Air Conditioner Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By End Use Sector (Residential Vs Commercial/Industrial)
9.3. Product Benchmarking
10. China Windows Air Conditioner Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By End Use Sector (Residential Vs Commercial/Industrial)
11. China Others Air Conditioner Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
12. Supply Chain Analysis
13. Import-Export Analysis
14. Market Dynamics
14.1. Drivers
14.2. Challenges
15. Market Trends & Developments
16. Policy & Regulatory Landscape
17. China Economic Profile
18. Competitive Landscape
18.1. Company Profiles
18.1.1. Gree Electric Appliances Inc.
18.1.2. Daikin Air Conditioning Systems (Shanghai) Co. Ltd.
18.1.3. Midea Group Co. Ltd.
18.1.4. Haier Electronics Group Co. Ltd.
18.1.5. Shanghai Hitachi Household Appliances Co. Ltd.
18.1.6. Mitsubishi Corporation China Co. Ltd.
18.1.7. Samsung Engineering Construction (Shanghai) Co. Ltd.
18.1.8. Panasonic Corporation of China
18.1.9. LG Electronics (China) Co. Ltd.
18.1.10 Toshiba Carrier Air Conditioning (China) Co. Ltd.
18.1.11. Sharp Electronics Sales China Co. Ltd.
19. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/u3blq3
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