The import value of compressors for refrigerating equipment in China stood at 2.35 billion USD in 2023, reflecting a year-on-year increase of 3.4% and a 5-year CAGR of 17.07%. From 2013 to 2023, the market underwent fluctuations, recording declines in certain years and significant growth in others, with a notable surge in 2020. Future projections indicate a continued upward trend, with imports expected to reach 2.73 billion USD by 2028, resulting in an anticipated 5-year CAGR of 2.36%.
Future trends to watch for include:
- Technological advancements in refrigerating equipment that could influence import demand
- Policy changes and environmental regulations impacting the refrigerating industry
- Global economic conditions affecting import capacities and market stability
- Emerging competitors and innovations within the domestic Chinese market
