I. Market Status
Industry Scale and Growth
Global Perspective: The refrigeration accessories industry is closely tied to downstream refrigeration equipment markets (air conditioners, cold storage, cold chain equipment, etc.). According to institutions like Grand View Research, the global refrigeration equipment market is expected to grow at a compound annual growth rate (CAGR) of 5%-6%, driving sustained expansion in demand for refrigeration accessories.
Chinese Market: As the world's largest producer and consumer of refrigeration equipment, China's refrigeration accessories market exceeds RMB 100 billion in scale. However, growth has slowed (due to the base effect and policy adjustments), shifting from "incremental competition" to "stock upgrading."
Core Driving Factors
Consumption Upgrading: Upgrades in energy efficiency standards for household air conditioners (e.g., China's GB 21455-2019) and demand for smart commercial cold chain equipment (e.g., smart retail, fresh food e-commerce) are driving growth in high-end accessory demand.
Environmental Policies: Global refrigerant substitution trends (e.g., transitioning from HFCs to low-GWP refrigerants like R32, R290) are催生 technical iterations in key components such as compressors and heat exchangers.
Industrial Demand: Emerging fields such as pharmaceutical cold chains, data center temperature control, and new energy storage (e.g., thermal management accessories) are expanding application scenarios.
Supply Chain Landscape
Regional Concentration: The Yangtze River Delta and Pearl River Delta in China are major global production bases, while India and Southeast Asia absorb some low-end capacity transfers.
Enterprise Competition: The industry presents a "pyramid" structure, with leading manufacturers (e.g., Sanhua Holding, DunAn Environment) dominating high-end markets and SMEs focusing on niche segments or supporting services.
Technical Barriers: High-precision machining, material performance (e.g., aluminum microchannel heat exchangers), and system integration capabilities have become core competitiveness.
Challenges and Pressures
Raw Material Price Volatility: Rising prices of copper, aluminum, steel, and other commodities are squeezing profits.
International Trade Risks: Tariff barriers and supply chain localization requirements (e.g., the U.S. IRA Act) impact export-oriented enterprises.
Carbon Neutrality Pressure: The EU's CBAM carbon tariff and China's "dual carbon" goals are accelerating the elimination of inefficient production capacity.
II. Development Trends
Technological Upgrading Directions
Efficiency and Integration: The proportion of high-efficiency accessories such as inverter compressors, electronic expansion valves, and microchannel heat exchangers is increasing, with system integration (e.g., heat pump system multi-split accessories) becoming a trend.
Intelligence and Digitalization: IoT sensors and AI predictive maintenance accessories (e.g., pressure sensors + cloud platforms) are penetrating industrial refrigeration fields.
Environmental Technology Breakthroughs: CO₂ heat pump accessories, magnetic levitation compressors, and other natural refrigerant technologies are gradually commercialized.
Market Structure Evolution
Application Field Differentiation:
Household Sector: Comfort demands are driving growth in accessories for wind-free air conditioners and quiet compressors.
Commercial Sector: Cold chain equipment is developing toward modularization and standardization (e.g., plug-and-play freezers for convenience stores).
Industrial Sector: The phase-out of HFCs is accelerating, reviving demand for ammonia refrigeration system accessories.
Regional Focus Shift: Rising air conditioner penetration rates in high-temperature regions like Africa and the Middle East are driving demand for basic accessories; Europe and North America focus on high-end accessories and system solutions.
Policy and Compliance Drivers
Global Synergy: The Kigali Amendment is accelerating refrigerant substitution, forcing compressor, valve, and other accessories to adapt to new refrigerants.
Energy Efficiency Standard Upgrades: China's Green and Efficient Refrigeration Action Plan and the EU's Ecodesign Directive are continuously raising energy efficiency thresholds for accessories.
Carbon Footprint Management: Life cycle carbon labeling (LCA) may become a new industry threshold, promoting green supply chain development.
Industrial Chain Integration and Ecosystemization
Vertical Integration: Leading manufacturers are extending into "accessories + systems + services" (e.g., DunAn Environment's "parts-components-systems" strategy).
Ecosystem Collaboration: Joint standard development with equipment manufacturers and engineering firms (e.g., Midea's collaboration with accessory suppliers to develop energy-saving components).
Service Model Innovation: Shifting from single product sales to "accessories + data services" (e.g., Danfoss's subscription model for smart valves).
III. Future Opportunities and Challenges
Opportunities:
Emerging Markets: Air conditioner penetration rates in India and Southeast Asia are below 20%, with cold chain infrastructure gaps exceeding RMB 100 billion.
Domestic Substitution: Localization rates for high-end accessories are below 30%, with breakthrough potential in certain segments (e.g., electronic expansion valves).
Cross-Industry Synergy: Innovations in thermal management for new energy vehicles and energy storage temperature control are creating new demands.
Challenges:
Technological Iteration Risks: For example, the flammability of R290 refrigerants requires material and process innovations to enhance accessory safety.
International Competition Pressure: European and Japanese enterprises still hold technical advantages in high-end accessories (e.g., inverter controllers).
Demand Fragmentation: Rising customization of accessories tests enterprises' flexible manufacturing capabilities.
IV. Conclusion and Recommendations
Short-Term Strategies: Focus on R&D of energy-efficient accessories, adapt to environmental policy windows, and deploy in emerging sectors (e.g., energy storage temperature control).
Long-Term Layout: Build digital supply chains, strengthen basic material R&D (e.g., new aluminum alloys, corrosion-resistant coatings), and explore globalization-localization balance (e.g., establishing factories in Southeast Asia to avoid trade barriers).
Ecosystem Collaboration: Collaborate with equipment manufacturers and research institutions to build innovation platforms and promote standard-setting and patent.
