The global food distribution industry has been, and continues to be negatively impacted by the COVID-19 pandemic.

Since the beginning of 2020, as the pandemic has spread globally, almost all countries and regions around the world have experienced lockdowns to varying degrees or have implemented emergency measures. Due to restrictions on operations, business activities cannot be carried out normally. In various countries, supermarkets and convenience stores are protected by governments as lifelines, but investment in refrigeration equipment has slowed down, and some projects have even been suspended Due to the restriction of personnel movement, there is a shortage of construction personnel, and many construction projects have ground to a halt.

In 2020, air-to-water (ATW) heat pump manufacturers were affected to a varying extent by plant closures and supply chain disruptions due to the impact of the COVID-19 pandemic.

Heat pump manufacturing outputs quickly returned to pre-pandemic levels in China, Europe, and Japan, which are major markets and production bases. Thanks to subsidy policies for renewable energy, the major ATW heat pump markets have continued to maintain growth except in China.

In 2020, the domestic and commercial air conditioning markets of emerging countries including China, India, Southeast Asia, and Latin America have been hit by the pandemic and have fallen sharply. In the United States, Japan, Europe, and Australia, driven by working at home demand and government subsidies, demand for residential air conditioning increased slightly or remained steady. The recovery of China's commercial air conditioning market has accelerated since the second half of 2020, but the situation in the entire global commercial air conditioning market is very difficult.

In 2020, the domestic and commercial air conditioning markets of emerging countries including China, India, Southeast Asia, and Latin America have been hit by the pandemic and have fallen sharply. In the United States, Japan, Europe, and Australia, driven by working at home demand and government subsidies, demand for residential air conditioning increased slightly or remained steady. The recovery of China's commercial air conditioning market has accelerated since the second half of 2020, but the situation in the entire global commercial air conditioning market is very difficult.

The weather in 2020 was ideal for sales of air conditioners. Unfortunately, young markets such as Southeast Asia and India, which have been gradually expanding, have experienced a sharp decline due to the sudden COVID-19 pandemic. Lockdown has also caused a shortage of parts and components in some areas, and the production of air conditioners has also been affected. Due to the spread of the pandemic, many major exhibitions around the world have been postponed or suspended.

In its World Economic Situation and Prospects 2020, the United Nations forecasted that, due to trade disputes between the United States and China, and a sharp reduction in investment, the global economic growth rate was expected to drop to 2.3% in 2019, the lowest level in 10 years. The U.S. market continued to maintain good growth momentum in 2019. Markets in Japan, Europe, and Southeast Asia increased steadily. China, the largest chiller market, continued to slow down but grew slightly throughout the year.