Asia: Market for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems 2024

Market Size for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in Asia

The Asian market for window or wall air conditioning systems, self-contained or split-systems rose remarkably to $X in 2022, growing by 8% against the previous year. Overall, consumption saw a mild increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in Asia

In value terms, production of window or wall air conditioning systems, self-contained or split-systems rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Exports in Asia

After four years of growth, overseas shipments of window or wall air conditioning systems, self-contained or split-systems decreased by -1.5% to X units in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +70.6% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by 43% against the previous year. The volume of export peaked at X units in 2021, and then shrank modestly in the following year.

In value terms, exports of window or wall air conditioning systems, self-contained or split-systems rose remarkably to $X in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China represented the major exporting country with an export of about X units, which resulted at 64% of total exports. It was distantly followed by Thailand (X units) and Malaysia (X units), together mixing up a 31% share of total exports. South Korea (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to window, wall, or split air conditioning system exports from China stood at +3.4%. At the same time, Thailand (+11.3%) and South Korea (+4.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.3% from 2012-2022. By contrast, Malaysia (-2.0%) illustrated a downward trend over the same period. Thailand (+12 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and China saw its share reduced by -4.3% and -4.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest window, wall, or split air conditioning system supplier in Asia, comprising 61% of total exports. The second position in the ranking was taken by Thailand ($X), with a 28% share of total exports. It was followed by Malaysia, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+8.2% per year) and Malaysia (-0.9% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, surging by 8.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by 14%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 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 South Korea ($X per unit), while Malaysia ($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 (+1.1%), while the other leaders experienced a decline in the export price figures.

Imports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Imports in Asia

In 2022, purchases abroad of window or wall air conditioning systems, self-contained or split-systems decreased by -0.4% to X units, falling for the third year in a row after five years of growth. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 11%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of window or wall air conditioning systems, self-contained or split-systems dropped slightly to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 9.2%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units), Vietnam (X units), Saudi Arabia (X units), the United Arab Emirates (X units), Iraq (X units), the Philippines (X units), Malaysia (X units), Singapore (X units), Thailand (X units), India (X units), South Korea (X units) and Hong Kong SAR (X units) was the largest importer of window or wall air conditioning systems, self-contained or split-systems in Asia, generating 80% of total import. Israel (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Saudi Arabia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 37% share of total imports. The United Arab Emirates, Iraq, South Korea, Singapore, the Philippines, Israel, India, Hong Kong SAR, Thailand and Malaysia lagged somewhat behind, together comprising a further 40%.

The Philippines, with a CAGR of +13.9%, 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

The import price in Asia stood at $X per unit in 2022, remaining stable against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7.7% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Malaysia ($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 (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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