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Europe's Heat Wave Sparks AC Surge; China Exports Jump 70%, HVAC ETF Hits 52-Week High

2026-07-28 23:43:37

MIDEA GROUP2.12%

LG Electronics-4.44%

Samsung Electronics-5.22%

According to Global Times and Yahoo Finance, extreme heatwaves across Europe are driving a structural shift in cooling demand, boosting sales of air conditioning units and related infrastructure. China's Ningbo region saw AC and cooling equipment exports surge 6.5% year-over-year in January-May 2026, while ice-making equipment exports jumped 22.7%, with some firms reporting over 70% growth in European shipments. Midea Group's portable AC unit "PortaSplit" sold over 200,000 units since the beginning of the year, with German online sales climbing 37% and Spain-France exports doubling. South Korea's LG Electronics and Samsung Electronics are also benefiting, ramping up European AC production and reporting double-digit sales growth. Investment banks are taking notice: Wolfe Research upgraded HVAC leader Carrier's price target, citing accelerating air conditioning adoption globally. The AdvisorShares HVAC Equity ETF hit a 52-week high on July 22 as capital flows into cooling-related infrastructure plays.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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