The market demand for refrigeration units is rapidly expanding from traditional household applications to diversified and specialized scenarios. The Chinese market size is projected to reach 172.8 billion yuan in 2026, exhibiting structural growth characteristics driven by both policy and consumption upgrades.
The global refrigeration equipment market continues to expand. According to a report by the International Energy Agency (IEA), the global market size reached US$215 billion in 2023, with an average annual growth rate of approximately 5.2%.
The Chinese market is steadily rising, reaching 154.8 billion yuan in 2025 and is projected to rise to 172.8 billion yuan in 2026, representing a year-on-year increase of 12%. This surge is mainly driven by "dual-carbon" targets, cold chain logistics construction, and demand from emerging technology industries.
Upgrading of Consumer Spending: Expansion of Household and Commercial Refrigeration Capacity
Accelerated urbanization and improved living standards are driving the continuous release of demand for replacement of household air conditioners and refrigerators.
Consumer preferences are shifting towards energy-saving, intelligent, and quiet products, with inverter air conditioners now accounting for over 65% and becoming the mainstream choice.
In commercial settings, the explosive growth of chain restaurants, convenience stores, and fresh food e-commerce has driven up demand for supermarket freezers, commercial cold storage, and refrigerated display cases.
Rigid Demand for Cold Chain Logistics: From "Food Basket" to "Medicine Box" The widespread adoption of fresh food e-commerce, pre-prepared meals, and community group buying, coupled with the stringent requirements for end-to-end low-temperature cold chain logistics for vaccines and biological agents, has fueled rapid growth in cold storage, refrigerated trucks, and light commercial freezers.
The government attaches great importance to the cold chain circulation rate of agricultural products and the safety of the pharmaceutical cold chain, and investment in cold chain infrastructure continues to increase under policy support.