3.2 CHINA

In 2021, China achieved significant market growth for chillers and airside equipment. JARN estimated that Chinese chiller market increased to US$ 2.86 billion, a year-on-year increase of about 15.0%. Chinese air-side equipment market also increased to 1.02 billion, with 15.0% increase compared with 2020. This good performance throughout the year was mainly due to a large number of construction projects that resumed after having stagnated during the pandemic, coupled with the pull of new infrastructure projects and the active performances of the biopharmaceutical, electronics, and other industries.