AC Retail Sales in China Decreased by 8.7% YoY

After undergoing raw material price increases, Double Controls on energy efficiency, repeated outbreaks during the COVID-19 pandemic, rain during the hot season, and disturbances in the overall market thanks to newly emerging residential products, the air conditioner market in China presented a low base, weak recovery and falling numbers both in sales volume and sales value in 2021. According to statistics from AVC, 2021 saw total retail sales of RMB 152.7 billion (about US$ 24.00 billion), falling by 1.2% year on year; total retail sales amounted to 46.89 million units, falling by 8.7% year on year.