Since 2021, with the acceleration of global vaccination and the successive lifting of blockade measures by various countries, the recovery of the world economy has remarkably improved. But the pandemic is continuing, and people in many parts of the world are still working from home. Life, work, and study have not returned to normal.

In 2021, the weather in most parts of the world was not very hot, and there are some areas where the weather is seasonable, but due to the pandemic, excellent opportunities for air conditioner sales were missed. Stay-at-home demand continues to drive the residential market, but the growth momentum has significantly weakened compared with 2020. There are apparent differences in the increases and decreases in needs in various regions.

In 2021, the global compressor market rebounded after a significant drop caused by the pandemic. International carbon neutrality policy has accelerated the replacement of refrigerants. Refrigerant replacement in major global markets and the improvement of energy efficiency levels have promoted the technological upgrading of compressors and have brought tremendous business opportunities to the compressor industry.

Since 2021, with the acceleration of global vaccination and the successive lifting of blockade measures by various countries, the recovery of the world economy has remarkably improved. But the pandemic is continuing, and people in many parts of the world are still working from home. Life, work, and study have not returned to normal.

In 2021, the weather in most parts of the world was not very hot, and there are some areas where the weather is seasonable, but due to the pandemic, excellent opportunities for air conditioner sales were missed. Stay-at-home demand continues to drive the residential market, but the growth momentum has significantly weakened compared with 2020. There are apparent differences in the increases and decreases in needs in various regions.

The International Monetary Fund (IMF) estimates that the global economy shrank by 4.4% in 2020. Affected by the COVID-19 pandemic, countries generally implemented economic blockade policies in the second quarter. The manufacturing and service industries were shut down, unemployment rates soared, and the gross domestic product (GDP) decline in many countries hit a record. After the third quarter, the countries’ economies gradually unblocked. Still, the second wave of the pandemic triggered an economic blockade policy, and the momentum of economic recovery has been weakened. The reorganization of global industrial chains and value chains is accelerating, and some global industrial chains are forced to press the ‘pause button.’

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.