Market Insights Consumer Household Appliances Major Appliances

Air Conditioners - China

China

In 2024, the revenue in the Air Conditioners market in China reached a substantial amount of US$15.98bn.
Looking ahead, the market is projected to experience a steady annual growth rate of 2.73% (CAGR 2024-2029).
Comparing globally, in China stands out as the country generating the highest revenue in this segment, accounting for the aforementioned US$15.98bn in 2024.
When considering the number of households, it is interesting to note that in 2024, each household in China contributed an average revenue of US$32.54 to the Air Conditioners market.
Looking towards the future, the volume in this segment is expected to reach 48.1m pieces units by 2029.
In 2025, a slight volume growth of 1.7% is projected.
Furthermore, by 2024, the average volume per household in the Air Conditioners market is estimated to be 0.09pieces units.
These figures highlight the significance of the Air Conditioners market in China, both in terms of revenue and volume.
With the rapid urbanization and increasing disposable income in China, the demand for energy-efficient air conditioners is skyrocketing.

Key regions: Indonesia, India, Japan, China, Worldwide

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.