China Air Conditioning Market Size, Industry Trends, Leading Players By 2025Posted by shibaomrglobal on February 28th, 2020 China air conditioning market is estimated to grow at a CAGR of 4.7% during the forecast period. The country holds a dominant position in the production and export of the AC globally. It produces more than 50% of the global AC every year. The major factor augmenting the market includes the hot climate of the country. Global warming will also be a motivating factor for the market. Moreover, the rapid urbanization and rising disposable income in the country is another factor that is contributing to the growth of the AC market. Request a Free Sample of our Report on China Air Conditioning Market: https://www.omrglobal.com/request-sample/china-air-conditioning-market Chinese significant investment in solar energy is also a motivating factor for the market as it would reduce energy consumption and makes the electric system more cost-effective. Cohesive government regulations in order to curb air pollution can restrict the usage of several ozone-depleting refrigerants during the forecast period. As per studies in May 2019, it was found that the factories in the country are emitting 7,000 tonnes CFC-11, a banned substance per year. The Chinese air conditioning market is segmented on the basis of application, type, and refrigerant type. The country is the largest market of the automobile globally. A significant market share of the automotive HVAC system will be witnessed during the forecast period. The residential segment is expected to show significant market growth during the forecast period. By type, split AC is expected to show significant market growth during the forecast period. The companies which are contributing to the growth of the market include Daikin Industries Ltd., Gree Electric Appliances Inc., Guangdong Chigo Air Conditioning Co., Ltd., Haier Electronics Group Co. Ltd., Midea Group, United Technologies Corp., Xiaomi Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. A Full Report of China Air Conditioning Market is Available at https://www.omrglobal.com/industry-reports/china-air-conditioning-market China Air Conditioning Market Segmentation By Application
By Refrigerant Type
Company Profiles
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