Chan Ye Xin Xi Wang·2025-07-07 01:12Industry Overview - The central air conditioning system, also known as a centralized air conditioning system, is designed to purify, cool (or heat), humidify (or dehumidify) air in a centralized or semi-centralized manner within a building or group of buildings [1][2] - The industry has seen significant growth, with the market size in China projected to increase from 87 billion yuan in 2020 to approximately 120 billion yuan by 2024 [1][6] Market Dynamics - The demand for central air conditioning is driven by rapid urbanization, growth in real estate, construction, biomedicine, electronics, and aviation equipment industries, as well as improvements in living standards [6][10] - The domestic market has faced challenges such as fierce price competition and shrinking sales due to sluggish demand and investment slowdown, while the export market has maintained double-digit growth, driven by demand from emerging markets [6][12] Regional Market Distribution - The East China region remains the primary market for central air conditioning products, with its market share expanding due to strong economic development and infrastructure progress [8] - North China follows with an 18.4% market share, while South China and Central China hold 16.1% and 11.8% market shares, respectively, indicating stable performance across these regions [8] Application Segments - The commercial real estate sector accounts for over 20% of central air conditioning applications, followed by residential and villa applications at 14.2% [10][12] Competitive Landscape - Domestic brands such as Midea, Gree, Haier, and Hisense have captured over 50.9% of the market share, significantly outperforming foreign brands [12][16] - Gree Electric Appliances leads the domestic market with over 15% market share, marking its 13th consecutive year at the top [16] Development Trends - There is a growing emphasis on energy efficiency and environmental sustainability, with companies focusing on high-efficiency products and solutions to meet market demands [18] - The integration of smart technologies such as IoT, big data, and AI is enhancing the intelligence of central air conditioning products, enabling features like remote control and fault prediction [19] - Customization and high-end demand are on the rise, with companies needing to offer personalized products and services to meet diverse consumer needs [21]