World Compressor Market--1 OVERVIEW
The International Monetary Fund (IMF) revised the global economic growth forecast for 2018 down-ward to 3.7%. Including the newly industrialized countries, the global air conditioning and refrigeration (AC&R) market has cooled down sharply, experiencing negative growth following five consecutive years of growth. According to JARN, the global air conditioning market in 2018 grew by only 0.6% from the previous year. The total market demand was 130.14 million units.
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