Headline News Volume 644
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eJARN.com Headline News
Date: Sep 2nd, 2022, Volume 644
( http://www.ejarn.com )
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< Aug Regular edition>
1. Review of the Global AC Market in the First Half of 2022
The global room air conditioner (RAC) market in the first half of 2022 is estimated to have decreased by 4.7% compared with the same period in 2021. The decline in the Chinese RAC market, which has the world’s largest scale, exerted a major impact. Moreover, during the lockdowns that were implemented as a countermeasure against the pandemic in 2021, RAC demand increased because people were spending more time at home and wanted to improve their home indoor environments, but it seems that demand has settled down this year.
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2. India
India has achieved a relatively quick recovery from the pandemic and has revived economic activities. Many manufacturers in the air conditioner industry raised their product prices during the period spanning April to May of this year, and there was a rush of demand in the RAC and PAC markets, which are sensitive to price increases. In addition, RAC sales remained strong due to the heat waves that have hit the country since April, and increased significantly compared with 2021. In the first half of 2022, the Indian RAC market is estimated to have increased by 32.7% over the same period of 2021. In the first half of 2022, the PAC and VRF markets also grew significantly year on year.
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3. The United State
In the first half of 2022, the window-type RAC market is estimated to have decreased slightly, while the
mini-split air conditioner market is estimated to have increased by 4.3% year on year. Shipments of unitary systems in the first half of 2022 increased by 4.0% to 5,542,560 units, up from 5,330,426 units shipped during the same period in 2021, according to shipment data from AHRI. This year, commercial projects in the United States have recovered to 2019 levels, centering on warehouses and hotels. The VRF market in the first half of 2022 is estimated to have increased with higher single-digit growth compared with the same period of 2021. Mini-VRFs are thought to benefit from greater demand for light commercial applications such as small-and medium-sized buildings than for replacement demand of unitary systems for residential use.
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4. Europe
In the first half of 2022, the European RAC market is estimated to have increased by 4.7% compared with the same period of 2021. This growth rate is significantly lower than the 10.1% growth registered in the first half of 2021. The reasons for the decrease are thought to be that last year’s demand during stay at-home periods settled down, and also low overall temperatures and a lot of rain were experienced until May. Hot and very hot weather experienced since mid-June is expected to boost RAC sales in the second half of the year. The European PAC market in the first half of 2022 is estimated to have increased by 4.3% compared with the same period of 2021. In Europe, along with the easing of activity restrictions during the pandemic, many stores, which had refrained from capital investments for the past year or two, started to install PACs to prepare the store environment before the summer vacation, when the number of customers increases in certain areas.
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5. Midea Building Technologies Aims to Be Global Building Technology Leader
JARN interviewed Henry Cheng, general manager of Midea Building Technologies (MBT) Division, Overseas Sales Company (OSC), to hear about its global business strategies to become the leading global building technology company.
Aug Regular page 44
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