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Thailand - Air Conditioning Machines - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Thailand - Air Conditioning Machines - Market Analysis, Forecast, Size, Trends and Insights

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Nov 6, 2024

Thailand Sees Slight Decline in Air Conditioning Machine Exports, Falling to $5.5B in 2023

Thailand Air Conditioning Machine Exports

After five years of growth, shipments abroad of air conditioning machines decreased by -11.4% to 22M units in 2023. Over the period under review, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. The exports peaked at 24M units in 2022, and then reduced in the following year.

In value terms, air conditioning machine exports declined to $5.5B (IndexBox estimates) in 2023. Overall, total exports indicated a tangible expansion from 2013 to 2023: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. The exports peaked at $6.2B in 2022, and then contracted in the following year.Thailand Air Conditioning Machine Exports By Country (Million USD)

COUNTRYExport Value of Air Conditioning Machine in Thailand (million USD)
20132014201520162017201820192020202120222023
United States2213002392452222603215379601,2551,045
Australia373367404435543497446581657662580
Vietnam231286371513478521513541467456451
India206256245275258313279218272279281
France89.610290.0120113149179191229230248
Italy150121112155130153166146191218225
Singapore227228247223188206170133200223225
Taiwan (Chinese)144163184166191236210267285313219
Indonesia323248195237188248236179209195216
Japan260212180163170228265236202198165
Others1,6901,7791,8051,7941,7211,8311,7341,6031,9652,1491,840
Total3,9124,0624,0744,3264,2024,6434,5204,6315,6396,1775,496

Exports by Country

Vietnam (4M units), the United States (3.3M units) and Australia (1.6M units) were the main destinations of air conditioning machine exports from Thailand, together comprising 41% of total exports.

From 2013 to 2023, the biggest increases were recorded for the United States (with a CAGR of +25.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($1B), Australia ($580M) and Vietnam ($451M) appeared to be the largest markets for air conditioning machine exported from Thailand worldwide, with a combined 38% share of total exports.

the United States, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of exports, among 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 (17M units) was the largest type of air conditioning machines exported from Thailand, with a 79% 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 (2.7M units), sixfold. The third position in this ranking was taken by air conditioning machines for motor vehicles (1.8M units), with an 8.2% share.

From 2013 to 2023, the average annual growth rate of the volume of window or wall air conditioning systems, self-contained or split-systems exports totaled +8.5%. With regard to the other exported products, the following average annual rates of growth were recorded: air conditioning machines with refrigeration unit (+35.4% per year) and air conditioning machines for motor vehicles (+0.3% per year).

In value terms, window or wall air conditioning systems, self-contained or split-systems ($4.2B) remains the largest type of air conditioning machines exported from Thailand, comprising 77% of total exports. The second position in the ranking was held by air conditioning machines with refrigeration unit ($1.2B), with a 23% share of total exports. It was followed by air conditioning machines for motor vehicles, with a 0.4% share.

From 2013 to 2023, the average annual rate of growth in terms of the value of window or wall air conditioning systems, self-contained or split-systems exports totaled +5.7%. With regard to the other exported products, the following average annual rates of growth were recorded: air conditioning machines with refrigeration unit (+5.1% per year) and air conditioning machines for motor vehicles (-7.7% per year).

Export Prices by Country

In 2023, the air conditioning machine price amounted to $254 per unit (FOB, Thailand), almost unchanged from the previous year. Over the period under review, the export price, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 9% against the previous year. As a result, the export price reached the peak level of $441 per unit. From 2015 to 2023, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was France ($396 per unit), while the average price for exports to Malaysia ($93 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+0.3%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the air conditioning machine market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28251220 - Window or wall air conditioning systems, self-contained or split-systems
  • Prodcom 28251240 - Air conditioning machines of a kind used in motor vehicles
  • Prodcom 28251250 - Air conditioning machines with refrigeration unit (excluding those used in motor vehicles, self-contained or split-systems machines)
  • Prodcom 28251270 - Air conditioning machines not containing a refrigeration unit, c entral station air handling units, vav boxes and terminals, c onstant volume units and fan coil units

Country coverage:

  • Thailand

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Thailand
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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