Headline News Volume 712
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eJARN.com Headline News
Date: Jan 24, 2024, Volume 712
( http://www.ejarn.com )
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< January Special edition>
1. World Air Conditioner Market – 2023 OVERVIEW
According to JARN, the global room air conditioner (RAC) market in 2023 grew by 2.9% compared with 2022, reaching 132.72 million units. Markets in emerging regions such as China, India, and Southeast Asia have grown tremendously. Latin American, Middle Eastern, and African markets have also grown strongly. However, the market in North America has declined significantly; the markets in Europe, Oceania, and Japan have also dropped slightly.
Jan Special page 1
https://www.ejarn.com/detail.php?id=81911&l_id=
2. United States
JARN estimates that the window unit market fell by 21.0% to 6.01 million units. VRFs recorded a low single-digit increase, while mini-VRFs experienced a double-digit decline. According to shipment data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI), from January to October 2023, the total shipment volume of cooling type and heat-pump type integrated air conditioners decreased from 9.07 million units in the same period of 2022 to 7.77 million units, a decrease of 14.4%.
Jan Special page 8
https://www.ejarn.com/detail.php?id=81912&l_id=
3. China
According to data from China Market Monitor, during the period spanning January to October 2023, retail sales of RACs reached about 51.1 million units, showing a year-on-year increase of 25.2%. Regarding exports, during the period spanning January to October 2023, China’s RAC exports, including window units, portable units, and single-split units, reached about 58 million units, indicating a year- on-year increase of about 5.5%, according to data from China Customs. For the year 2023 as a whole, China’s RAC exports are estimated to have reached about 70 million units, showing a 6.0% year-on-year increase.
Jan Special page 16
https://www.ejarn.com/detail.php?id=81913&l_id=
4. India
For the RAC industry, especially the residential segment, the January to March 2023 quarter saw unprecedented demand and growth. However, the rest of the year saw very moderate growth. The overall growth was around 9% over 2022 and the Indian RAC market is expected to end the year with an all-time high of approximately 7.6 million units.
Jan Special page 24
https://www.ejarn.com/detail.php?id=81915&l_id=
5. Midea RACs Achieve Fruitful Results in 2023
Affected by inflation and unfavorable weather in 2023, consumption in major markets such as Europe and the United States was sluggish. However, Midea’s residential air conditioner (RAC) business continued to maintain a high-speed growth trend. JARN interviewed Vincent Chou, vice president of Midea RAC Division and general manager of Midea RAC Overseas Sales, to unveil the secrets of this success.
Jan Special page 49
https://www.ejarn.com/detail.php?id=81928&l_id=
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