Reference News Network, September 11 report. According to the Bloomberg News website on September 8, the rapidly warming weather in Europe has provided a new growth market for Chinese air conditioner manufacturers, helping to offset losses from sales to the United States during trade disputes.
Data shows that in the first half of this year, China's exports of air conditioners to the EU and the UK increased by about 20% year-on-year. Local media reports indicate that the sales of Chinese manufacturers such as Gree and Haier have surged in Europe.
This summer, Europe has experienced consecutive heatwaves. The UK Met Office said that this summer "is almost certainly" the hottest on record in the UK. Previously, air conditioners were seen as "American luxuries" in many parts of Europe or simply essential in the Mediterranean region. Now, facing a new climate reality, these areas have begun to accept the idea of cooling on demand for homes and businesses.
Goldman Sachs Global Investment Research estimates that only about 20% of households in the EU currently have air conditioners, and this proportion may rise to around 25% by 2030.
"The surge in demand for Chinese air conditioners is mainly driven by countries such as Serbia, Italy, and Spain," said Long Fei, an analyst at the Beijing-based research institution Yicai, "Europe will still be a market with great potential in the coming years."
European home appliance brands that produce in China, such as Midea, also see the potential of the European market. Martin Guo (音), head of international affairs at Midea, said: "Europe offers a huge market with strong purchasing power, and the demand for small appliances is more predictable and enduring, especially for portable, plug-and-play air conditioners."
He said: "We believe that in the medium to long term, Europe has the potential to offset the instability of the US market." (Translated by Wenyi)
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