3.2 CHINA

In 2020, the Chinese chiller market showed a slight decline compared with 2019. According to data from the ‘White paper on the development of China’s air conditioning and refrigeration industry in 2020’, total sales of chillers and air-side equipment with capacities of more than 100 kW is estimated to have approached RMB 26.48 billion (about US$ 3.84 billion), a year-on-year decrease of about 2%. In terms of the annual trend, the Chinese chiller market was down at the beginning of 2020, since most domestic engineering projects were suspended and put on hold due to the pandemic. In the second half of the year, as resumption of work gradually accelerated, demand for chillers in engineering projects continued to recover.