Asia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Asia

The Asian air conditioning machine market contracted to $X in 2022, remaining constant against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Air Conditioning Machine Production in Asia

In value terms, air conditioning machine production shrank modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Air Conditioning Machine Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of non-window or wall air conditioning machines, which increased by 11% to X units in 2022. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 48% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, air conditioning machine exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 28% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X units) represented the major exporter of non-window or wall air conditioning machines, making up 67% of total exports. It was distantly followed by Thailand (X units), creating a 23% share of total exports. Malaysia (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the non-window or wall air conditioning machines exports, with a CAGR of +11.4% from 2012 to 2022. At the same time, Thailand (+9.2%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Among the main exporting countries, China, with a CAGR of +2.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, shrinking by -13% against the previous year. In general, the export price saw a deep setback. The pace of growth appeared the most rapid in 2019 an increase of 6.6% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-4.1%), while the other leaders experienced a decline in the export price figures.

Air Conditioning Machine Imports

Imports in Asia

Air conditioning machine imports reduced to X units in 2022, with a decrease of -2.4% against the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 18%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, air conditioning machine imports shrank modestly to $X in 2022. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 9%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units), Singapore (X units), India (X units), the Philippines (X units), Indonesia (X units), Japan (X units), the United Arab Emirates (X units), Vietnam (X units), Iraq (X units), Taiwan (Chinese) (X units), Kuwait (X units) and South Korea (X units) was the largest importer of non-window or wall air conditioning machines in Asia, making up 74% of total import. Thailand (X units) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +21.4%), 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 Singapore ($X), Hong Kong SAR ($X) and India ($X), together comprising 30% of total imports. The Philippines, the United Arab Emirates, Indonesia, Vietnam, Japan, Iraq, Kuwait, South Korea, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 43%.

Among the main importing countries, the Philippines, with a CAGR of +21.4%, 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, surging by 1.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.9% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform