3.3 CHINA

In 2021, the Chinese ATW heat pump market showed an upswing, with buoyant growth, and increased by 12.6% year on year to around 2.19 million units in 2021, according to JARN’s estimates. In the first half of 2021, thanks to the full and rapid resumption of work and production following the first wave of the pandemic, demand for ATW heat pumps in China increased substantially compared with the low demand encountered during the same period of 2020. In the second half of 2021, however, the market shrank as a whole, affected by the recurrence of infections in some regions along with real estate control policies.