Chinese air conditioning motor industry ushered in the resumptive growth of DC motor as the main growth force

Motor is a kind of electromagnetic device that realizes electric energy conversion or transmission according to the law of electromagnetic induction. It is widely used in industry, agriculture, national defense, transportation and household appliances and other fields. It plays an important role in the development of national economy and society.

Motor is the core component of air conditioning, which has important influence on the performance of air conditioning. Air conditioning motor can be divided into air conditioning DC motor and air conditioning AC motor according to the type of power supply; According to the material can be divided into plastic sealing motor and iron motor.

资料来源：观研天下整理

I. Current situation of market development

Since 2016, the sales of air conditioning motors in China have been in an overall upward trend. However, since 2017, affected by factors such as the total quantity of air conditioners in China reaching a new high and the downturn in the real estate market, the growth rate of motor sales began to slow down and fell to the bottom in 2020 due to the impact of the epidemic. Then in 2021, as the epidemic was effectively controlled and the market rebounded, motor sales also saw a recovery growth. According to the "China Air conditioning Motor Industry Development Trend Analysis and Future Investment Research Report (2022-2029)" released by Guanyanzhi.com, China's air conditioning motor sales volume in 2021 has reached 392,293,000 units, a year-on-year increase of 9.96%, a record high. In the first four months of 2022, the sales volume of air conditioning motors in China reached 137,588 million units, down 8.7 percent year on year.

数据来源：观研天下整理

From the comparison of domestic and foreign markets, the domestic market still occupies most of the market. According to statistics, China's air conditioning motor industry sales volume in 2020 is 288 million, accounting for 80.8% of the total sales volume.

数据来源：观研天下整理

From the point of view of product segmentation, the replacement rate of DC motor continues to rise, and the market shows an upward trend year by year. Data show that in 2020, the sales volume of air conditioning DC motors increased by 136 million from 19 million in 2010, with an annual compound growth rate of 21.8%. The market share increased from 8.9% in 2010 to 38.1%, and the market share increased by 29.2%. By the end of 2021, DC motors will account for more than 44 percent of the market and ship more than 172 million units. Overall, the annual growth rate of DC motor is 26.8%, becoming the main driving force for the industry growth in 2021.

However, AC motor is still the main domestic market. According to the data, the sales volume of AC motor for air conditioning in 2021 fell to 208 million units, a year-on-year decline of 5.5%, while the market share decreased from 91.1% in 2010 to less than 56%.