World Compressor Market – Update 2021 - 1 OVERVIEW

In 2020, the domestic and commercial air conditioning markets of emerging countries including China, India, Southeast Asia, and Latin America have been hit by the pandemic and have fallen sharply. In the United States, Japan, Europe, and Australia, driven by working at home demand and government subsidies, demand for residential air conditioning increased slightly or remained steady. The recovery of China's commercial air conditioning market has accelerated since the second half of 2020, but the situation in the entire global commercial air conditioning market is very difficult.