Asia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Asia

In 2021, after two years of growth, there was decline in the Asian air conditioning machine market, when its value decreased by -4.1% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Air Conditioning Machine Production in Asia

In value terms, air conditioning machine production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Air Conditioning Machine Exports

Exports in Asia

Air conditioning machine exports expanded sharply to X units in 2021, with an increase of 11% compared with the previous year's figure. Total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 35% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, air conditioning machine exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the major exporter of air conditioning machines, constituting 67% of total exports. It was distantly followed by Thailand (X units), creating a 24% share of total exports. Malaysia (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +5.1% from 2012 to 2021. At the same time, Thailand (+9.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +9.9% from 2012-2021. By contrast, Malaysia (-2.3%) illustrated a downward trend over the same period. Thailand (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest air conditioning machine supplier in Asia, comprising 61% of total exports. The second position in the ranking was held by Thailand ($X), with a 27% share of total exports.

In China, air conditioning machine exports increased at an average annual rate of +2.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+5.3% per year) and Malaysia (-2.1% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, with an increase of 3.2% against the previous year. Overall, the export price, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2017 when the export price increased by 13% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.2%), while the other leaders experienced a decline in the export price figures.

Air Conditioning Machine Imports

Imports in Asia

In 2021, supplies from abroad of air conditioning machines decreased by -3.9% to X units, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 10%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, air conditioning machine imports totaled $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 4.5% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X units), Saudi Arabia (X units), Vietnam (X units), the United Arab Emirates (X units), Iraq (X units), Hong Kong SAR (X units), the Philippines (X units), India (X units), Malaysia (X units), Indonesia (X units), South Korea (X units) and Thailand (X units) represented roughly 77% of total imports in 2021. Singapore (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +17.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machine importing markets in Asia were Japan ($X), Saudi Arabia ($X) and Vietnam ($X), with a combined 34% share of total imports. The United Arab Emirates, Iraq, Indonesia, Singapore, Hong Kong SAR, India, the Philippines, South Korea, Thailand and Malaysia lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, the Philippines, with a CAGR of +15.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, with an increase of 7.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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