Air Conditioning Machine Export in China Declines to $1.7B in April 2023

China Air Conditioning Machine Exports

In April 2023, exports of air conditioning machines from China reduced to 8.2M units, shrinking by -7.4% on the previous month's figure. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 with an increase of 66% against the previous month. Over the period under review, the exports reached the peak figure at 8.9M units in March 2023, and then dropped in the following month.

In value terms, air conditioning machine exports dropped slightly to $1.7B (IndexBox estimates) in April 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 when exports increased by 54% against the previous month. Over the period under review, the exports attained the peak figure at 1.7B units in March 2023, and then contracted slightly in the following month.

Exports by Country

The United States (1.3M units), Japan (700K units) and Iraq (525K units) were the main destinations of air conditioning machine exports from China, with a combined 30% share of total exports. Mexico, Saudi Arabia, the United Arab Emirates, Italy, Russia, Thailand, Argentina, Spain, Brazil and Libya lagged somewhat behind, together accounting for a further 35%.

From April 2022 to April 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Libya (with a CAGR of +12.4%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($177M), the United States ($160M) and Iraq ($157M) were the largest markets for air conditioning machine exported from China worldwide, together comprising 29% of total exports. These countries were followed by Saudi Arabia, the United Arab Emirates, Mexico, Italy, Russia, Spain, Thailand, Argentina, Brazil and Libya, which together accounted for a further 35%.

Libya, with a CAGR of +10.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Window or wall air conditioning systems, self-contained or split-systems (6.9M units) was the largest type of air conditioning machine exported from China, with a 84% share of total exports. Moreover, window or wall air conditioning systems, self-contained or split-systems exceeded the volume of the second product type, air conditioning machines with refrigeration unit (990K units), sevenfold. The third position in this ranking was taken by air conditioning machines without refrigeration unit (201K units), with a 2.4% share.

From April 2022 to April 2023, the average monthly growth rate of the volume of export of window or wall air conditioning systems, self-contained or split-systems was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: air conditioning machines with refrigeration unit (-0.0% per month) and air conditioning machines without refrigeration unit (-1.7% per month).

In value terms, window or wall air conditioning systems, self-contained or split-systems ($1.4B) remains the largest type of air conditioning machine exported from China, comprising 84% of total exports. The second position in the ranking was taken by air conditioning machines with refrigeration unit ($220M), with a 13% share of total exports. It was followed by air conditioning machines for motor vehicles, with a 1.7% share.

From April 2022 to April 2023, the average monthly rate of growth in terms of the export volume of window or wall air conditioning systems, self-contained or split-systems was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: air conditioning machines with refrigeration unit (+0.5% per month) and air conditioning machines for motor vehicles (-0.4% per month).

Export Prices by Country

In April 2023, the air conditioning machine price amounted to $205 per unit (FOB, China), with an increase of 7.1% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in May 2022 an increase of 8.3% against the previous month. The export price peaked at $242 per unit in August 2022; however, from September 2022 to April 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Saudi Arabia ($301 per unit), while the average price for exports to the United States ($127 per unit) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform