Asia-Pacific: Hvac Equipment Market 2024

Hvac Equipment Market Size in Asia-Pacific

The Asia-Pacific HVAC equipment market was finally on the rise to reach $X in 2022, after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Hvac Equipment Production in Asia-Pacific

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% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Hvac Equipment Exports

Exports in Asia-Pacific

In 2022, overseas shipments of HVAC equipment decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, showed a pronounced increase. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, leveling off in the following year.

In value terms, HVAC equipment exports rose markedly to $X in 2022. Total exports indicated strong 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 2012 indices. The pace of growth was the most pronounced 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 the near future.

Exports by Country

China was the largest exporting country with an export of around X units, which resulted at X% of total exports. Hong Kong SAR (X units) ranks second in terms of the total exports with a X% share, followed by Thailand (X%). Cambodia (X units) held a minor share of total exports.

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%) and Thailand (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.), Cambodia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, growing by X% against the previous year. In general, the export price recorded modest growth. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat 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 Thailand ($X per unit), while Cambodia ($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-Pacific

After two years of growth, overseas purchases of HVAC equipment decreased by X% to X units in 2022. The total import volume increased at an average annual rate of X% 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 X% against the previous year. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, HVAC equipment imports dropped to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid 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) represented the largest importer of HVAC equipment, achieving X% of total imports. It was distantly followed by China (X units), Thailand (X units), Singapore (X units) and Japan (X units), together achieving a X% share of total imports. India (X units), Malaysia (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to HVAC equipment imports into Hong Kong SAR stood at X%. At the same time, Thailand (X%), Singapore (X%), Indonesia (X%), India (X%), China (X%), Malaysia (X%) and Japan (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Thailand, China, Singapore and India increased by 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 Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Singapore, India, Thailand and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Thailand, with a CAGR of X%, recorded the highest growth rate of 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-Pacific stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum 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 Japan ($X per unit), while Hong Kong SAR ($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 mixed trends in the import price figures.

Source: IndexBox Platform