Asia-Pacific: Market for Air Conditioning Machines For Motor Vehicles 2024

Market Size for Air Conditioning Machines For Motor Vehicles in Asia-Pacific

The Asia-Pacific market for air conditioning machines for motor vehicles totaled $X in 2022, growing by 1.8% against the previous year. Over the period under review, consumption showed a resilient expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Air Conditioning Machines For Motor Vehicles in Asia-Pacific

In value terms, motor vehicle air conditioning machine production expanded modestly to $X in 2022 estimated in export price. In general, production enjoyed a strong expansion. The growth pace was the most rapid in 2014 with an increase of 37%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Air Conditioning Machines For Motor Vehicles

Exports in Asia-Pacific

In 2022, motor vehicle air conditioning machine exports in Asia-Pacific reduced sharply to X units, which is down by -18.7% compared with 2021 figures. Over the period under review, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 44%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, motor vehicle air conditioning machine exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 47% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

China prevails in exports structure, accounting for X units, which was approx. 81% of total exports in 2022. It was distantly followed by South Korea (X units), creating a 6.3% share of total exports. The following exporters - Thailand (X units), India (X units) and Japan (X units) - together made up 9.2% of total exports.

Exports from China increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, India (+45.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +45.5% from 2012-2022. By contrast, South Korea (-6.6%), Thailand (-6.8%) and Japan (-7.5%) illustrated a downward trend over the same period. While the share of China (+34 p.p.) and India (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-5.7 p.p.), Thailand (-11.1 p.p.) and South Korea (-15.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest motor vehicle air conditioning machine supplier in Asia-Pacific, comprising 79% of total exports. The second position in the ranking was held by South Korea ($X), with a 5.8% share of total exports. It was followed by Thailand, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +6.8%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-9.0% per year) and Thailand (-11.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, growing by 21% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the export price increased by 22%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Air Conditioning Machines For Motor Vehicles

Imports in Asia-Pacific

In 2022, overseas purchases of air conditioning machines for motor vehicles increased by 5.3% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, motor vehicle air conditioning machine imports contracted sharply to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, China (X units) represented the main importer of air conditioning machines for motor vehicles, comprising 57% of total imports. Australia (X units) held the second position in the ranking, followed by Thailand (X units) and South Korea (X units). All these countries together took near 22% share of total imports. Malaysia (X units), Taiwan (Chinese) (X units), Japan (X units), Vietnam (X units) and India (X units) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +8.3% from 2012 to 2022. At the same time, South Korea (+21.1%), Japan (+12.3%), Malaysia (+4.2%) and Vietnam (+3.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +21.1% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.8%), Thailand (-2.5%) and India (-11.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, South Korea and Japan increased by +21, +3.8 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported air conditioning machines for motor vehicles in Asia-Pacific, comprising 53% of total imports. The second position in the ranking was taken by Australia ($X), with a 14% share of total imports. It was followed by Thailand, with a 6.4% share.

In China, motor vehicle air conditioning machine imports expanded at an average annual rate of +5.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+4.6% per year) and Thailand (-4.1% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, declining by -20.5% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per unit in 2021, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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