Midea PortaSplit sells out as Europe heatwave drives 108% sales surge

Europe's worst recorded heatwave has triggered a panic-buying of air conditioners, with Midea's PortaSplit selling out in multiple countries and second-hand prices reaching 2-3 times the original cost.

Europe's record-breaking heatwave is driving a structural shift in cooling demand, with Asian air conditioner makers seeing sales surge as the continent's 20% AC penetration rate proves dangerously inadequate for a climate that no longer exists.

"A heatwave in the final two weeks of May significantly boosted sales, particularly for the PortaSplit air conditioner, which sold out in some channels," Midea said in a statement.

Midea's Germany e-commerce sales rose 37% year-over-year in May, while shipments to Spain and France jumped 108%. Samsung Electronics reported double-digit growth across Italy, Spain and France in the first half, and LG Electronics said its South Korean AC production lines have run at full capacity since April. Mitsubishi Electric also reported strong demand in France, Spain, the UK and Germany.

The demand surge has lifted cooling-related stocks across Europe. Milan-listed Ariston rose 2.3% on June 25, French building materials giant Saint-Gobain gained 2.2%, and Swedish heat pump maker NIBE added 0.7%, extending multi-session rallies as investors price in a structural repricing of European cooling demand.

PortaSplit's Regulatory Hack

Midea's PortaSplit has become the breakout product of Europe's cooling crisis not because it is the cheapest option — the single-cool version retails for €900 and the heat-pump variant for €1,200 — but because it solves a regulatory puzzle that has kept air conditioning out of millions of European homes.

Traditional split-system ACs require drilling through exterior walls for the outdoor compressor unit. In Paris and other historic districts, facade regulations prohibit such modifications. Installation costs routinely exceed €1,000, and in some countries the permitting process requires approval from a building's entire ownership. Midea's PortaSplit sidesteps these barriers: the outdoor unit sits on a window bracket requiring no drilling, which classifies it as an "internal appliance" under French building codes.

The product's specifications read like a compliance checklist. Its refrigerant charge of 1.99kg sits just under France's 2kg regulatory threshold. The 35-decibel noise level in quiet mode matches Germany's strict nighttime limit. Its seasonal energy efficiency ratio of 6.1 meets the Swiss A++ standard at the minimum threshold. The heat-pump version also functions as a heating system in winter, effectively making it a do-it-yourself heat pump for homes that lack central heating.

A Market Catching Up With Climate Reality

Europe's AC penetration of about 20% compares with nearly 90% in the US, according to the International Energy Agency. Southern European countries like Italy at 50% and Spain at 40% have higher adoption, but northern and western Europe — where the most extreme temperature anomalies are now occurring — remains largely uncooled. Germany's AC ownership grew 6 percentage points between 2023 and 2024 alone.

The World Meteorological Organization says Europe is warming at twice the global average. Eight of the 10 countries with the largest projected increase in cooling degree days are in northwestern Europe, including Switzerland, the UK and Norway, according to research from Oxford and Bristol universities.

China exported $27.2 billion worth of air conditioners in 2025, accounting for nearly 40% of global exports, according to OEC data. Midea's factory in Shunde is now working around the clock, shipping units to Europe via China-Europe freight trains. Rivals Gree and TCL have also ramped up production of similar portable split systems.

On social media, the PortaSplit has developed a following. A German user built a website to track stock availability across EU retailers. One buyer reported driving 200 kilometers to purchase the last available unit at a price already marked up by €100. The product was named to Time magazine's "Best Inventions" list in 2025.

For investors, the question is whether this demand spike represents a one-time catch-up or the beginning of a multi-year structural shift. Europe's building stock — much of it designed for a climate that has already shifted — will take decades to retrofit. The UK's Climate Change Committee has recommended that all hospitals achieve safe temperature control by 2035, all care homes by 2040, and all schools and prisons by 2050. Those targets imply years of sustained demand for cooling equipment, installation services and building insulation — a tailwind for the entire HVAC supply chain.

This article is for informational purposes only and does not constitute investment advice.