Asia-Pacific: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Asia-Pacific

The Asia-Pacific air conditioning machine market shrank modestly to $X in 2021, falling by -4% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Air Conditioning Machine Production in Asia-Pacific

In value terms, air conditioning machine production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Air Conditioning Machine Exports

Exports in Asia-Pacific

In 2021, exports of air conditioning machines in Asia-Pacific rose markedly to X units, picking up by 11% against 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.4% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, air conditioning machine exports reached $X in 2021. The total export value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of air conditioning machines in Asia-Pacific, with the volume of exports accounting for X units, which was approx. 68% of total exports in 2021. Thailand (X units) held the second position in the ranking, distantly followed by Malaysia (X units). All these countries together took approx. 28% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to air conditioning machine exports from China stood at +5.1%. At the same time, Thailand (+9.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +9.9% from 2012-2021. By contrast, Malaysia (-2.3%) illustrated a downward trend over the same period. While the share of Thailand (+7.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest air conditioning machine supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was held by Thailand ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +2.9%. 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-Pacific stood at $X per unit in 2021, picking up by 3.1% against the previous year. Overall, the export price, however, saw a pronounced downturn. The most prominent rate of growth was recorded 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 failed to regain momentum.

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-Pacific

In 2021, imports of air conditioning machines in Asia-Pacific stood at X units, therefore, remained relatively stable against 2020 figures. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 14%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, air conditioning machine imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 10%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units), distantly followed by Vietnam (X units), Hong Kong SAR (X units), the Philippines (X units), India (X units), Malaysia (X units), Indonesia (X units), South Korea (X units), Thailand (X units) and Singapore (X units) represented the largest importers of air conditioning machines, together creating 84% of total imports. China (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machine importing markets in Asia-Pacific were Japan ($X), Vietnam ($X) and Indonesia ($X), together comprising 43% of total imports. Singapore, Hong Kong SAR, India, the Philippines, South Korea, China, Thailand and Malaysia lagged somewhat behind, together accounting for a further 40%.

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

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, rising by 6.5% against the previous year. In general, the import price, however, saw a slight curtailment. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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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