China Air Conditioner (AC) Market (2024-2030) | Analysis, Size, Revenue, Forecast, Trends, Growth, Industry & Outlook
Market Forecast By Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others) And Competitive Landscape
| Product Code: ETC090080 | Publication Date: Jul 2024 | Updated Date: Jul 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
China Air Conditioner (AC) Market Highlights
| Report Name | China Air Conditioner (AC) Market |
| Forecast period | 2024-2030 |
| CAGR | 6.7% |
| Growing Sector | Hospitality |
Topics Covered in China Air Conditioner (AC) Market Report
China Air Conditioner (AC) Market report thoroughly covers the market by type and application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
China Air Conditioner (AC) Market Synopsis
China Air Conditioner (AC) Market is experiencing significant growth and projected to attain more growth in the coming years due to rising urbanization, increasing incomes, and advancements in technology. As China's middle class continues to expand, there is a growing demand for residential and commercial air conditioning solutions. The market is characterized by a high level of competition among both domestic and international manufacturers, striving to offer innovative and energy-efficient products to attract consumers. Environmental regulations and the push for greener alternatives are also influencing market dynamics, encouraging companies to invest in sustainable technologies.
According to 6Wresearch, China Air Conditioner (AC) Market size is expected to grow at a CAGR of 6.7% during 2024-2030. Several factors are driving the growth of China Air Conditioner (AC) Market such as rapid urbanization has led to a significant increase in housing and commercial developments, thereby creating a surge in demand for efficient climate control systems. Apart from this, rising disposable incomes among Chinese consumers are enabling more households to invest in modern air conditioning units. Additionally, the government's stringent environmental regulations and initiatives to promote energy-efficient appliances are encouraging consumers to upgrade to eco-friendly models. The growing awareness of the importance of indoor air quality is also pushing the demand for advanced air conditioning systems equipped with air purification features.
However, China Air Conditioner (AC) Market faces few restraints such as high initial cost associated with purchasing and installing energy-efficient and smart AC systems. This can be a significant barrier for lower-income households and small businesses. Additionally, the market is impacted by the volatility of raw material prices, which can lead to increased production costs and, subsequently, higher prices for consumers. Apart from this, the stringent environmental regulations, which, while promoting sustainability, also require manufacturers to invest heavily in research and development to comply with these standards, potentially leading to higher costs.
China Air Conditioner (AC) Market Leading Players
The key players include GREE Electric Appliances, Midea Group, Haier Group Corporation, Daikin Industries, Hisense Group, TCL Corporation. These organizations are known for their diverse range of air conditioning products, committed to integrating smart technologies and environmentally friendly features into its offerings.
China Air Conditioner (AC) Market Government Regulations
China Air Conditioner (AC) Market is growing and government’s regulation and policies are helping in extension of the market. One of the key initiatives is the implementation of stringent energy efficiency standards and labelling programs, which aim to encourage manufacturers to produce and consumers to buy energy-saving air conditioning units. Additionally, the government is offering subsidies and tax incentives for both manufacturers and consumers who prioritize energy-efficient and environmentally friendly AC systems. These financial incentives are designed to lower the initial costs and make green technologies more accessible. Furthermore, the Chinese government has launched several urbanization projects that include the development of eco-friendly and smart cities.
Future Insights of the Market
The future of China Air Conditioner (AC) Market looks promising due to various factors such as the increased integration of smart technologies. As the Internet of Things (IoT) and Artificial Intelligence (AI) continue to evolve, air conditioning systems will become even more sophisticated, offering features such as predictive maintenance, personalized climate control, and seamless integration with other smart home devices. Additionally, the expansion of AC technology into new territories, including rural and underserved areas. With infrastructural development and improved access to reliable electricity, these regions present untapped potential for market growth.
Market Segmentation by Type
According to Ravi Bhandari, Research Head, 6Wresearch, Ductless air conditioners are poised for significant growth in coming years due to their flexibility, ease of installation, and energy efficiency. These systems are ideal for refurbishing older buildings that do not have pre-existing ductwork.
Market Segmentation by Application
Hospitality air conditioner market is expected to grow robustly in future attributed to the expansion of the tourism and hospitality industry. Hotels, resorts, and other lodging facilities will continue to invest in high-quality air conditioning systems to ensure guest comfort and satisfaction.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- China Air Conditioner Market Outlook
- Market Size of China Air Conditioner Market, 2023
- Forecast of China Air Conditioner Market, 2030
- Historical Data and Forecast of China Air Conditioner Revenues & Volume for the Period 2020 - 2030
- China Air Conditioner Market Trend Evolution
- China Air Conditioner Market Drivers and Challenges
- China Air Conditioner Price Trends
- China Air Conditioner Porter's Five Forces
- China Air Conditioner Industry Life Cycle
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Type for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Room Air Conditioner for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Ducted Air Conditioner for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Ductless Air Conditioner for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Centralized Air Conditioner for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Application for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Residential for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Healthcare for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Commercial & Retail for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Transportation & Infrastructure for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Hospitality for the Period 2020 - 2030
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Others for the Period 2020 - 2030
- China Air Conditioner Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- China Air Conditioner Top Companies Market Share
- China Air Conditioner Competitive Benchmarking By Technical and Operational Parameters
- China Air Conditioner Company Profiles
- China Air Conditioner Key Strategic Recommendations
Market Covered
The report offers a comprehensive study of the subsequent market segments
By Type
- Room Air Conditioner (RAC)
- Ducted Air Conditioner (DAC)
- Ductless Air Conditioner
- Centralized Air Conditioner
By Application
- Residential
- Healthcare
- Commercial & Retail
- Transportation & Infrastructure
- Hospitality
- Others
China Air Conditioner (AC) Market (2024-2030): FAQs
The factors that are driving the Market growth are rapid urbanization, rising disposable incomes and promotion of energy-efficient appliances.
The challenges faced by Market are the high initial cost, the volatility of raw material prices and stringent environmental regulations.
The key players include GREE Electric Appliances, Midea Group, Haier Group Corporation, Daikin Industries, Hisense Group, TCL Corporation.
Government initiatives introduced in the market are implementation of stringent energy efficiency standards, offering subsidies and tax incentives and launched several urbanization projects.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 China Air Conditioner Market Overview |
| 3.1 China Air Conditioner Market Revenues & Volume, 2017 - 2027F |
| 3.2 China Air Conditioner Market - Industry Life Cycle |
| 3.3 China Air Conditioner Market - Porter's Five Forces |
| 3.4 China Air Conditioner Market Revenues & Volume Share, By Type, 2020 & 2027F |
| 3.5 China Air Conditioner Market Revenues & Volume Share, By Application, 2020 & 2027F |
| 4 China Air Conditioner Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 China Air Conditioner Market Trends |
| 6 China Air Conditioner Market, By Type |
| 6.1 Overview and Analysis |
| 6.2 China Air Conditioner Market Revenues & Volume, By Type, 2017 - 2027F |
| 6.3 China Air Conditioner Market Revenues & Volume, By Room Air Conditioner, 2017 - 2027F |
| 6.4 China Air Conditioner Market Revenues & Volume, By Ducted Air Conditioner, 2017 - 2027F |
| 6.5 China Air Conditioner Market Revenues & Volume, By Ductless Air Conditioner, 2017 - 2027F |
| 6.6 China Air Conditioner Market Revenues & Volume, By Centralized Air Conditioner, 2017 - 2027F |
| 7 China Air Conditioner Market, By Application |
| 7.1 Overview and Analysis |
| 7.2 China Air Conditioner Market Revenues & Volume, By Residential, 2017 - 2027F |
| 7.3 China Air Conditioner Market Revenues & Volume, By Healthcare, 2017 - 2027F |
| 7.4 China Air Conditioner Market Revenues & Volume, By Commercial & Retail, 2017 - 2027F |
| 7.5 China Air Conditioner Market Revenues & Volume, By Transportation & Infrastructure, 2017 - 2027F |
| 7.6 China Air Conditioner Market Revenues & Volume, By Hospitality, 2017 - 2027F |
| 7.7 China Air Conditioner Market Revenues & Volume, By Others, 2017 - 2027F |
| 8 China Air Conditioner Market Import-Export Trade Statistics |
| 8.1 China Air Conditioner Market Export to Major Countries |
| 8.2 China Air Conditioner Market Imports from Major Countries |
| 9 China Air Conditioner Market Key Performance Indicators |
| 10 China Air Conditioner Market - Opportunity Assessment |
| 10.1 China Air Conditioner Market Opportunity Assessment, By Type, 2020 & 2027F |
| 10.2 China Air Conditioner Market Opportunity Assessment, By Application, 2020 & 2027F |
| 11 China Air Conditioner Market - Competitive Landscape |
| 11.1 China Air Conditioner Market Revenue Share, By Companies, 2020 |
| 11.2 China Air Conditioner Market Competitive Benchmarking, By Operating and Technical Parameters |
| 12 Company Profiles |
| 13 Recommendations |
| 14 Disclaimer |
Market Forecast By Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others) And Competitive Landscape
| Product Code: ETC090080 | Publication Date: Aug 2021 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
China Air Conditioner (AC) Market | Country-Wise Share and Competition Analysis
In the year 2021, Germany was the largest exporter in terms of value, followed by the United Kingdom. It has registered a growth of 38.08% over the previous year. While the United Kingdom registered a growth of 16.37% over the previous year. While in 2017 Germany was the largest exporter followed by the United Kingdom. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, China has a Herfindahl index of 4362 in 2017 which signifies high concentration while in 2021 it registered a Herfindahl index of 4506 which signifies high concentration in the market
China Air Conditioner (AC) Market - Export Market Opportunities
Topics Covered in The China Air Conditioner (AC) Market
China Air Conditioner (AC) Market is projected to grow over the coming years. China Air Conditioner (AC) Market report is a part of our periodical regional publication Asia Pacific Air Conditioner (AC) Market Outlook report. 6W tracks the air conditioner market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Air Conditioner (AC) Market outlook report annually.
China Air Conditioner (AC) Market report comprehensively covers the market type and application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Latest (2023) Developments in the China Air Conditioner (AC) Market
China Air Conditioner (AC) Market is driven by several ongoing latest developments in the country are the rising adoption of sustainable refrigerators and the rising use of smart air conditioners. Furthermore, the rising government initiative to promote energy-efficient appliances, including air conditioners improves the environmental impact and is also beneficial for customers with low financial pressure on energy costs. This factor is accelerating the technology inverter adoption is a trend driving the market growth in the recent and during the forecast period as well. Moreover, the rising demand for smart technology enabled air conditioners that can be controlled remotely and facilitates more convenience. These ongoing trends are leading to a surge in the China Air Conditioner (AC) Market revenue in the country.
China Air Conditioner (AC) Market Synopsis
China Air Conditioner (AC) Market is anticipated to project substantial growth during the forecast period owing to the rising disposable income. The rise in per capita income has led to an increase in the standard of living, further beholds the growth of the market. Additionally, the expansion of the residential, commercial, and industrial sectors backed by rising migration is driving the need for temperature regulation further driving the growth of the market.
According to 6Wresearch, China Air Conditioner (AC) Market size is projected to grow at a CAGR of 7.6% during 2021-2027. China occupies the 20th position in terms of the market size in the APAC Air Conditioner Market. Increasing adoption of air conditioners as a necessity instead of a luxury is propelling the growth of the market. Additionally, the market is also driven by the factors such as the strengthening of the hospitality and tourism sectors. The establishment of hotels, restaurants, and malls drives the increasing growth of the Air Conditioner market in China. The outbreak of COVID-19 has hampered the growth of the market on account of the temporary shutting down of manufacturing units and retail stores. The nationwide lockdown led to a pause in regular operations further led to the disruption in the growth of the market.
Market Analysis by Type
In terms of market by type, Room Air Conditioner dominates the market and is expected to remain in a dominant position in the coming years. However, Centralized Air Conditioner is expected to have the fastest growth rate among all types.
Market Analysis by Application
In terms of application, Residential dominates the market and is expected to remain in a dominant position in the coming years. However, Transportation and Infrastructure are expected to have the fastest growth rate among all applications.
COVID-19 Impact on the China Air Conditioner (AC) Market
The COVID-19 pandemic had affected the China Air Conditioner (AC) industry. They closed all offline stores and ceased construction activities in the country to avoid the spread of the COVID-19 virus resulting in social distancing and restrictions on trade. This declined the ACs installations in the country, which further decreased the China Air Conditioner (AC) market share during the COVID-19 phase. Although, post-COVID-19 ACs demand increased for advanced air filtration systems in the country to ensure filtered & quality indoor air.
Key Players in the China Air Conditioner (AC) Market
Several Leading players in the market who have gained popularity with their strong market presence deal with and supply a comprehensive range of premium quality air conditioners, including, room air conditioners, ducted air conditioners, ductless air conditioners, and centralized air conditioners.
- Gree Electric Appliances Inc. of Zhuhai
- Midea Group Co., Ltd.
- Haier Group Corporation
- Hisense Kelon Electrical Holdings Co., Ltd.
- Chigo Air Conditioning Co., Ltd.
- TCL Corporation
- Aux Group Co., Ltd.
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Daikin Industries, Ltd.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- China Air Conditioner Market Outlook
- Market Size of China Air Conditioner Market, 2020
- Forecast of China Air Conditioner Market, 2027
- Historical Data and Forecast of China Air Conditioner Revenues & Volume for the Period 2017 - 2027
- China Air Conditioner Market Trend Evolution
- China Air Conditioner Market Drivers and Challenges
- China Air Conditioner Price Trends
- China Air Conditioner Porter's Five Forces
- China Air Conditioner Industry Life Cycle
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Type for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Room Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Ducted Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Ductless Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Centralized Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Application for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Residential for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Healthcare for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Commercial & Retail for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Transportation & Infrastructure for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Hospitality for the Period 2017 - 2027
- Historical Data and Forecast of China Air Conditioner Market Revenues & Volume By Others for the Period 2017 - 2027
- China Air Conditioner Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- China Air Conditioner Top Companies Market Share
- China Air Conditioner Competitive Benchmarking By Technical and Operational Parameters
- China Air Conditioner Company Profiles
- China Air Conditioner Key Strategic Recommendations
Market Segmentation:
The report provides a detailed analysis of the following market segments:
By Types:
- Room Air Conditioner
- Ducted Air Conditioner
- Ductless Air Conditioner
- Centralized Air Conditioner
By Application:
- Residential
- Commercial & Retail
- Healthcare
- Hospitality
- Transportation & Infrastructure
- Others
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