SHANGHAI, Mar 23 (SMM) – China’s market for air conditioners is likely to maintain its upward momentum given potential demand, stable exports and leadership in manufacturing, said He Jinming, vice Chief Manager at ChinaIOL and chief manager at the Appliance Department.
The market for air conditioner has seen robust growth in the last few years. Sales in China exceeded 80 million units in 2017, with a compound annual growth rate (CAGR) of 10.5% from 2013-2017.
He believed that the sustainable growth in per capita income as well as the growing property market will bolster demand. Expansion overseas, especially in Asia and the Middle East will also drive demand. Demand will also grow as consumers look to replace their current air conditioners.
The industry is expected to consume about 730,000 mt of copper pipes in 2018, He added.
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