IBISWorld Platform
Answer any industry question in minutes with our entire database at your fingertips.
Air-Conditioner Manufacturing in China Industry Data and Analysis
Revenue for the Air-Conditioner Manufacturing industry in China is expected to increase at a CAGR of 1.1% over the five years through 2024 from a high base year, to total $105.3 billion. This trend includes an expected increase of 4.1% in the current year. Approximately 174 enterprises are expected to operate in the industry over the period, employing over 263,000 people with a payroll of $4.9 billion. Increasingly intensified market competition has led to decreasing industry profitability, which being at an estimated 8.3% in 2024.In recent years, the market demand for air-conditioners has undergone significant changes, shifting from newly-added demand to replacement demand. With growing air-conditioner penetration rate, demand for residents’ replacement demand for air-conditioners has gradually become the main driving force of the market, especially under the promotion of the "Old-for-New" policy. As of 2023, the number of air-conditioners per 100 households in China had reached 145.9 units, which means the replacement demand has become the main body of current and future market consumption demand. The residential central air-conditioner manufacturing segment requires relatively high technical equipment and enterprise numbers in this segment are much smaller. Humidifiers and air purifiers are mainly exported, and enterprises in these two segments are small and low in number.While export growth has fluctuated over the past five years, the industry's export market has expanded over the period, especially in Europe and the United States. In 2024, exports are expected to account for an estimated 18.5% of industry revenue. Competing imports are low in the industry, accounting for an estimated 1.0% of domestic demand in 2024, with a value of $847.6 million.Industry revenue is forecast to increase at a CAGR of 3.5% over the five years through 2029, to total $125.0 billion. The industry is anticipated to continue developing into foreign markets like the Middle East, Central and South America, expanding exports of dehumidifiers, humidifiers and air purifiers. In addition, domestic enterprises are expected to continue increasing R&D input, introducing advanced technology and equipment and promoting product upgrades and replacements in order to meet the diverse needs of the international market.
Access this data your way
The Air-Conditioner Manufacturing in China Industry analysis is available in multiple formats to fit seamlessly into your workflow.
API Data Delivery
Feed trusted, human-driven industry intelligence straight into your platform.
Integrations
Streamline your workflow with IBISWorld’s intelligence built into your toolkit.
What's included in this industry analysis
IBISWorld's research coverage on the Air-Conditioner Manufacturing industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Air-Conditioner Manufacturing industry in China operates under the industry code 3952. The Air-Conditioner Manufacturing industry in China manufactures residential room air-conditioners (RACs), residential central air-conditioning systems, dehumidifiers, humidifiers and air purifiers. These products are used to adjust the indoor temperature, moisture, airflow and air cleanliness. Related terms covered in the Air-Conditioner Manufacturing industry in China include dehumidifier, severe acute respiratory syndrome (sars) and sterilization.
What's included in this industry?
Products and services covered in Air-Conditioner Manufacturing industry in China include Room air-conditioners (RAC), Residential central air-conditioning systems and Dehumidifiers, humidifiers and air purifiers.
What companies are included in this industry?
Companies covered in the Air-Conditioner Manufacturing industry in China include Midea Group Co., Ltd., Gree Electric Appliances, Inc. and Haier Smart Home Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Air-Conditioner Manufacturing industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Air-Conditioner Manufacturing industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Air-Conditioner Manufacturing industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Air-Conditioner Manufacturing industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Air-Conditioner Manufacturing industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Air-Conditioner Manufacturing industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Air-Conditioner Manufacturing industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Air-Conditioner Manufacturing industry in China.
Trusted by industry professionals
More than 6,000 businesses use IBISWorld to shape local and global economies
We were able to supplement our reports with IBISWorld’s information from both a qualitative and quantitative standpoint. All of our reporting now features some level of IBISWorld integration.
IBISWorld delivers the crisp business knowledge we need to drive our business. Whether it be serving up our major clients, winning new business or educating on industry issues, IBISWorld brings real value.
IBISWorld has revolutionised business information — which has proved commercially invaluable to exporters, investors and public policy professionals in Australia and overseas.
When you’re able to speak to clients and be knowledgeable about what they do and the state that they operate in, they’re going to trust you a lot more.
Frequently Asked Questions
What is the market size of the Air-Conditioner Manufacturing industry in China in 2026?
The market size of the Air-Conditioner Manufacturing industry in China is $105.3bn in 2026.
How many businesses are there in the Air-Conditioner Manufacturing industry in China in 2025?
There are 174 businesses in the Air-Conditioner Manufacturing industry in China, which has declined at a CAGR of 3.1 % between 2020 and 2025.
How may import tariffs affect the Air-Conditioner Manufacturing industry in China?
The Air-Conditioner Manufacturing industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Air-Conditioner Manufacturing industry in China?
The Air-Conditioner Manufacturing industry in China is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Air-Conditioner Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Air-Conditioner Manufacturing industry in China has been growing at a CAGR of 1.1 % between 2020 and 2025.
What is the forecast growth of the Air-Conditioner Manufacturing industry in China over the next 5 years?
Over the next five years, the Air-Conditioner Manufacturing industry in China is expected to grow.
What are the biggest companies in the Air-Conditioner Manufacturing industry in China?
The biggest companies operating in the Air-Conditioner Manufacturing industry in China are Midea Group Co., Ltd., Gree Electric Appliances, Inc. and Haier Smart Home Co., Ltd.
What does the Air-Conditioner Manufacturing industry in China include?
Room air-conditioners (RAC) and Residential central air-conditioning systems are part of the Air-Conditioner Manufacturing industry in China.
Which companies have the highest market share in the Air-Conditioner Manufacturing industry in China?
The company holding the most market share in the Air-Conditioner Manufacturing industry in China is Midea Group Co., Ltd..
How competitive is the Air-Conditioner Manufacturing industry in China?
The level of competition is high and increasing in the Air-Conditioner Manufacturing industry in China.
Cut through the noise with intelligence you can trust
