June 23, 2008: China Is Largest Market for Air Conditioning
June 23, 2008
BERKSHIRE, England - China has become the world’s largest market for air conditioning, according to BSRIA, a consultancy, test, and research organization. China and the United States were almost equal in market value in 2007, but in 2008 the Chinese market is expected to grow further and widen the gap between the two countries.
In 2007, the world market for air conditioning was valued at $62 billion compared to $55 billion in 2006, reported BSRIA. By region, Asia Pacific is the largest market with total sales amounting to $28 billion in 2007. The Chinese market alone was valued at $12 billion in 2007. Sales of air conditioners in the Americas region were valued at $15 billion, followed closely by Europe with a $13 billion market size in 2007. The Middle East, Africa, and India market was valued at $5 billion.
According to BSRIA, a growing awareness of green technologies and energy efficiency will continue to have a significant impact on air conditioning applications in saturated markets and will support a trend for more advanced products such as inverters, heat recovery, and variable refrigerant flow (VRF) systems.
Publication date: 06/23/2008