Chinese Air‑Conditioner Makers See Surge in European Demand Amid Heatwave

Record‑breaking heatwaves across Europe in late June and early July pushed indoor temperatures well above comfort levels. With only about 20 % of European households equipped with air‑conditioning, many consumers turned to portable units. Chinese manufacturers – chiefly Midea Group, Haier Smart Home and Gree Electric Appliances – reported a sharp rise in sales. Analysts expect year‑on‑year export growth of more than 20 % for Midea in the second quarter and double‑digit growth for Haier’s European segment, while Gree’s overseas revenue accounts for roughly 15 % of total sales. Companies stocked inventories two to three times higher than the previous year, and Midea has already shipped around 200 000 portable split units to Europe. The surge is providing a notable earnings boost for the firms in the second and third quarters, although analysts warn it will not fully offset weaker demand in China. The episode also highlights Europe’s reliance on Chinese cooling products, which now represent about 40 % of global air‑conditioner exports, and has sparked discussion about trade imbalances and the need for EU policy responses.