Refrigeration in China has been a very dynamic market from early 2010 until today, with “expansions, expansions, expansions,” said Wong Lee Meng, managing director of Cannon Far East. All the top domestic fridge makers, Haier, Hisense, Meiling and Midea, for example, have been growing rapidly, Wong added.
Picking out Haier Group, Wong said “they are everywhere,” – investing in Shenyang, in the south in Foshan, in the west in Chongqing, in Hefei. “And every facility is two-million capacity,” he said.
But he feels there may now be over capacity, with some consolidation ahead.
Wong also noted that the “refrigeration boom is partially because of the subsidy programme,” as is the huge automotive growth.
Wong put the fridge market in China in 2010 at about 67 million, some 20 percent of which, or 18 million, are for export, with a freezer market of something like 17…