Refrigeration compressors are growing steadily, and the potential of light business is released
The epidemic accelerates the rise of China's refrigeration compressors
Industry online data shows that the overall sales of the global compressor industry in 2020 will be 520 million units (including the five categories of fully enclosed, rotor, scroll, semi-sealed and screw), and it is expected to reach 567 million units in 2021. Compressor applications are mainly concentrated in the three major areas of air conditioning, heat pumps, and refrigeration. Among them, air conditioning and heat pumps mainly use rotor, scroll and screw compressors; the refrigeration field is the largest in volume, and the five major types of compressors are involved in varying degrees. In 2020, global sales of refrigeration compressors were 278 million units, an increase of 2.9% year-on-year, accounting for 54% of overall compressor sales. In 2021, sales are expected to increase by 6.6% year-on-year.
In the refrigeration compressor market, China's refrigeration compressor sales were 228 million units, an increase of 15.5% year-on-year, and the global share reached 82%, an increase of 9% over the previous year. Although facing complicated international trade situations such as Sino-US trade frictions in recent years, the proportion of compressor sales in China has been increasing, and the epidemic has accelerated this trend. It is expected that the proportion of compressor sales in China in 2021 will remain at the same level. About 82%, on the one hand, it is the continuation of orders in 2020, on the other hand, through the early supply and cooperation, and the follow-up relying on product and cost advantages, China’s product orders are expected to continue to increase.
Household refrigeration is largely dominated by volume, and commercial refrigeration releases potential
From the application side, household refrigeration compressors occupy a dominant position with a share of 92%, mainly for refrigerators, water dispensers and other equipment. After various policy stimulus and rapid development brought about by the popularization of the industry, the domestic refrigeration market stock has continued to increase and is close to saturation. It has gradually shifted from being dominated by new additions to dominated by renewal demand. The growth has gradually slowed down in recent years. Affected by the epidemic in 2020, measures such as home isolation have stimulated the demand for food storage, driving the growth of household refrigeration equipment, which will drive the acceleration of the demand for household refrigeration compressors. In 2020, the sales of household refrigeration compressors will be 209 million units, a year-on-year increase of 16.4%. Create a new peak of household refrigeration compressors in recent years. With the control of the epidemic and the impact of a high base in 2020, it is expected that the growth rate of household refrigeration compressor sales will slow down in 2021.
In 2020, the sales of commercial refrigeration compressors were 18.75 million units, an increase of 6.9% year-on-year. The market growth rate slowed down due to the epidemic. Although short-term impact by the epidemic, the downstream demand for commercial refrigeration compressors is stable in the medium and long term, and there is room for long-term growth. On the one hand, the demand for commercial refrigeration equipment is rigid, and the demand will be delayed but will not disappear, and will not fundamentally change the upward trend of the industry; on the other hand, the commercial refrigeration equipment industry will develop in the direction of intelligence and automation, and at the same time under the influence of the epidemic , The reform of the commercial refrigeration industry may usher in a new breakthrough, catalyze the birth of new business formats, and stimulate new demands, which will bring new development opportunities to the development of compressors. The sales growth of commercial refrigeration compressors in 2021 is expected to reach nearly 20 points.
Commercial refrigeration segment product application advantages
Fully enclosed piston compressors have a wide range of applications, and the advantages below 1HP are obvious: In 2020, the sales of commercial fully enclosed piston compressors will be 18.021 million units, a year-on-year increase of 7.2%, accounting for 96% of the market share of the commercial refrigeration compressor industry. Fully enclosed piston compressors are widely used in light commercial cabinets and other light commercial equipment due to their compact structure, high reliability, and long service life. The advantageous products are concentrated below 1HP. In 2021, both large-volume refrigerators and freezers and light commercial refrigeration equipment are expected to maintain positive growth, driving the demand for commercial fully enclosed piston compressors.
The penetration of rotor compressors is accelerating, and the advantageous products are concentrated in 1-3HP: In recent years, the application of rotor compressors in the field of refrigeration and refrigeration has continued to increase, relying on energy saving and price advantages. In 2020, the sales of rotor compressors were 251,000 units, a year-on-year decline of 2.9%. This is the first time rotor compressors have fallen since they entered the field of refrigeration and refrigeration. As rotor compressors are mainly used in refrigeration display cabinets, small cold storage, catering retail and other scenes, due to the impact of the first half of the epidemic, the reduction in store openings has led to a decrease in the demand for rotor compressors. At the same time, rotor compressors are still relatively recognized in the market with cooling capacity above 3HP. Low, the market development is subject to certain restrictions. With the recovery of demand in the terminal market in 2021 and the impact of last year's low base, it is expected that the application scale of rotary compressors in the field of refrigeration and refrigeration will achieve rapid growth.
Scroll compressors have grown steadily, and the dominant products are concentrated in 3-7HP: In 2020, the sales of scroll compressors will be 294,000 units, a year-on-year increase of 7.3%. Scroll compressors are mainly used in small and medium-sized cold storage, refrigeration display cabinets and other fields. Under the 2020 epidemic, as the country continues to increase its agricultural assistance policies, the construction of small and medium-sized cold storage has increased rapidly, which has promoted the increase in the scale of scroll compressors. From the perspective of cooling capacity, 3-7HP applications account for 81%; in addition, scroll compressors continue to break through the horse number limit, and the proportion of large horse numbers continues to increase. The sales growth of scroll compressors in 2021 is expected to be the same as last year, mainly driven by the demand for small and medium-sized cold storage.
The semi-hermetic piston compressor market has declined, and the advantages of 15-40HP products are obvious: in 2020, the sales of semi-hermetic piston compressors will be 161,000 units, down 6.5% year-on-year. Semi-hermetic piston compressors are mainly used in cold storage, refrigeration display cabinets, commercial ice machines and other products. The advantages of low temperature working conditions in the full cooling section within 40HP are obvious. At present, new cold storages are mostly concentrated in medium and high temperature small cold storage and large cold storage projects. The advantages of semi-hermetic piston compressors are insufficient. Among them, those below 15HP are squeezed by scroll and rotor compressors, and those above 40HP are squeezed by screw compressors, causing the market to continue. Decline.
Screw compressors are growing rapidly, and the application range is concentrated in 40-200HP: In 2020, the sales of screw compressors will be 25,000 units, a year-on-year increase of 16%. On the one hand, with the reduction of the cost of screw compressors and the gradual maturity of technology, market acceptance has increased year by year; on the other hand, affected by the epidemic, the aspect of cold storage related to people's livelihood has received attention, and the state has increased investment in cold storage construction, especially in large and medium-sized cold storage projects. The increase in start-up has stimulated the increase in demand for screw compressors. The application of screw compressors is mainly concentrated in 40-200HP, of which the proportion of 40-100HP application is close to 60%. In 2020, with the increase of medium and large-scale cold storage projects, screw compressors above 100HP will grow rapidly. Screw compressors of 100-200HP will increase by 29.5% year-on-year, and the proportion will increase to 35.3%. Due to the cyclical nature of the construction of medium and large cold storage projects, it is expected that the sales volume of screw compressors will maintain a rapid growth trend in 2021.
At present, under the situation where price competition is the main market strategy for light commercial equipment, product quality upgrading has become an important direction for industry adjustment, which requires close cooperation and scientific decision-making in all relevant links of the industry chain. To this end, the "2021 China Light Commercial Refrigeration Equipment Industry Development and Technology Forum" will be held on August 25-26. The forum will continue to focus on We will discuss how the upstream and downstream of the industry can work together to create high-quality light business system-wide solutions under the new format, so as to promote and realize the overall upgrading and transformation of the industry.
