Midea Building Technology Chongqing Water Machine Factory is listed in the latest list of "Lighthouse Factories" released by the World Economic Forum. As the first full-process AI-enabled lighthouse factory in the global central air-conditioning chiller industry, the base has successfully shortened the product design cycle by 45% and reduced the after-sales maintenance rate by 31% while the number of customized orders increased by 180%.

1 New market structure, rising global demand
According to industry research data, the global chiller market is experiencing significant growth, with a stable annual compound growth rate of about 5%. This growth is mainly due to the expansion of global industrial production, the increase in commercial buildings, and the accelerated advancement of the intelligent transformation of the manufacturing industry.

According to industry research data, the global chiller market is experiencing significant growth, with a stable annual compound growth rate of about 5%. This growth is mainly due to the expansion of global industrial production, the increase in commercial buildings, and the accelerated advancement of the intelligent transformation of the manufacturing industry.

As an important sub-segment, the growth of water chillers is particularly prominent. With the widespread application of technologies such as laser cutting, welding, and cladding, the global market size of industrial water chillers for lasers continues to expand. According to LP Information, this market will reach a new height by 20253.

The regional distribution shows a trend of diversification:

Asian market: Especially China, Japan and South Korea, with the rapid economic development and accelerated industrialization process, the market size of water chillers has grown rapidly3.

European and American markets: Due to the strong industrial foundation in North America and Europe, the demand for high-quality water chillers continues to grow steadily3.

Emerging markets: Latin America and Africa and other places show strong growth potential3.

China has become the world's largest producer and consumer of water chillers. Data shows that in 2022, the market share of domestic water chillers has exceeded 60%, gradually replacing some imported products.