Asia: Hvac Equipment Market 2024

Hvac Equipment Market Size in Asia

In 2022, the Asian HVAC equipment market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Hvac Equipment Production in Asia

In value terms, HVAC equipment production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Hvac Equipment Exports

Exports in Asia

For the sixth consecutive year, Asia recorded growth in overseas shipments of HVAC equipment, which increased by X% to X units in 2022. Overall, exports enjoyed a measured increase. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, HVAC equipment exports expanded remarkably to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China was the major exporter of HVAC equipment in Asia, with the volume of exports reaching X units, which was near X% of total exports in 2022. Hong Kong SAR (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%). Cambodia (X units) and Kyrgyzstan (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to HVAC equipment exports from China stood at X%. At the same time, Cambodia (X%), Kyrgyzstan (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of Cambodia (X p.p.), Thailand (X p.p.), China (X p.p.) and Kyrgyzstan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest HVAC equipment supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

In China, HVAC equipment exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, increasing by X% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, HVAC equipment export price decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2016 an increase of X%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Hvac Equipment Imports

Imports in Asia

After two years of growth, purchases abroad of HVAC equipment decreased by X% to X units in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, HVAC equipment imports declined slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Hong Kong SAR (X units) was the largest importer of HVAC equipment, creating X% of total imports. China (X units) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), Turkey (X%) and Singapore (X%). Japan (X units), India (X units), Malaysia (X units), Indonesia (X units), South Korea (X units) and Vietnam (X units) took a relatively small share of total imports.

Imports into Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), Vietnam (X%), Singapore (X%), Indonesia (X%), India (X%), Turkey (X%), China (X%), South Korea (X%), Malaysia (X%) and Japan (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Thailand, China, Turkey, Singapore and India increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded 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

In 2022, the import price in Asia amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform