KUALA LUMPUR: The Aux Group, a leading top 500 enterprise in China, has made its presence in the Malaysian market as it aims to gain a foothold in the local consumer electrical segment.
This came about through a recent collaboration with its Malaysian partner Aufit Malaysia.
At the launch of its Malaysian arm, Rando Wu, Asean sales manager, Aux China said: “We are confident that amidst global complexities, we will experience local economic growth.
“This presents significant opportunities for us and we want to enter the market early. One area we will focus on is the air conditioner segment as we have witnessed that improvement in housing standards is fueling great demand for consumer air conditioners.”
Based on research, the global air conditioner market is projected to register a compounded annual growth rate (CAGR) of more than 5% from 2021-2026, with Asia-Pacific being the fastest growing and largest market.
The industry is expected to witness huge growth due to the soaring temperature and humidity levels across the world, along with the rising acceptance of air conditioners as a utility product rather than a luxury product.
The emergence of technologically advanced air conditioners, such as air conditioners with inverter and air purification technologies, is further anticipated to positively influence the air conditioner market.
Meanwhile, Aufit Malaysia managing director Alan Yap said the company has invested a total of RM10mil and have set up eight centers in Puchong, Johor Baru, Butterworth, Kuantan, Kota Bharu, Melaka, Kota Kinabalu and Kuching and will continue to equip them.
“We have an experienced team of technicians who are supported by certified third-party installers and maintenance specialists,” he said.
The Aux Group was established in 1986, and today its activities span over several industries covering home appliances, electrical equipment, medical equipment and services, real estate and investment.
Its turnover stood at 72 billion yuan (RM46.5bil) in 2021 and employs more than 30,000 people and has 11 manufacturing plants in Ningbo, Nanchang, Tianjin, Ma’Anshan, Zhengzhou in China as well as in Brazil, Poland, Indonesia and Thailand.
Its air conditioners are ranked the number three most popular brand in China and was the exclusive air conditioning supplier to the 19th Asian 2022 Hangzhou Games.
