With new construction projeCTS, constant EXpansion of industrial and comMErcial facilities and the improvement in quality of life in China, demand for central air-conditioning is increasing. Compared to China's typical air conditioning unit market, central air conditioning appears merely in the introduction phase and its steady growth signifies its huge market potential.
In recent years, the central air conditioning industry has seen rapid development in China. This is largely due to expansion in real estate development. The air conditioning industry is CLosely related with real estate, but real estate is aLSo bound by China's macroeconomic policies. With real estate investment rising, office space and commercial real estate space has increased, inevitably leading to central air conditioning product growth. China's housing industry, since 2009, has seen another large-SCale increase. This, together with the increasing demand for healthy living products in China, has increased the demand for residential central air conditioning.
Overall demand for central air conditioning is concentrated in Beijing and Shanghai as the representatives in northeast China of political and cultural centers. Big business flourishes in these cities, and businesses can therefore afford the luxury of central air conditioning.
Now, with rapid economic development, central air conditioning products in areas outside these regions in China have seen demand growing steadily. Meanwhile, the regional offices, hotels, restaurants, business centers, entertainment centers, defense centers, scientific research centers, laboratories, hospitals, special industrial factories and facilities are all turning to central air conditioning for outfitting their properties.
With the acceleration of urbanization, city size is increasing and public real estate spaces are also increasing, reserving great potential for the central air-conditioning market. It is expected that, with business warming and all kinds of new high-end residential areas arriving, central air conditioning will become a new hot market item.