Eastern Asia: Market for Air Conditioning Machines For Motor Vehicles 2024

Market Size for Air Conditioning Machines For Motor Vehicles in Eastern Asia

The East Asian market for air conditioning machines for motor vehicles totaled $X in 2022, increasing by 2.2% against the previous year. In general, consumption enjoyed strong growth. 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 Eastern Asia

In value terms, motor vehicle air conditioning machine production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 36% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Air Conditioning Machines For Motor Vehicles

Exports in Eastern Asia

In 2022, the amount of air conditioning machines for motor vehicles exported in Eastern Asia shrank dramatically to X units, dropping by -21% against 2021 figures. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 47%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, motor vehicle air conditioning machine exports fell modestly to $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

China prevails in exports structure, recording X units, which was near 90% of total exports in 2022. It was distantly followed by South Korea (X units), achieving a 7% share of total exports. Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the air conditioning machines for motor vehicles exports, with a CAGR of +11.8% from 2012 to 2022. South Korea (-6.6%) and Japan (-7.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +32 percentage points.

In value terms, China ($X) remains the largest motor vehicle air conditioning machine supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was held by South Korea ($X), with a 6.5% share of total exports.

In China, motor vehicle air conditioning machine exports increased at an average annual rate of +6.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-9.0% per year) and Japan (-7.5% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, increasing by 25% against the previous year. Over the period under review, the export price, however, showed a perceptible setback. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 Eastern Asia

In 2022, the amount of air conditioning machines for motor vehicles imported in Eastern Asia amounted to X units, rising by 6.4% compared with 2021. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +39.2% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, motor vehicle air conditioning machine imports reduced markedly to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 29%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

China dominates imports structure, amounting to X units, which was approx. 82% of total imports in 2022. South Korea (X units) ranks second in terms of the total imports with a 6.8% share, followed by Taiwan (Chinese) (5.8%) and Japan (5.8%).

From 2012 to 2022, average annual rates of growth with regard to motor vehicle air conditioning machine imports into China stood at +8.3%. At the same time, South Korea (+21.1%) and Japan (+12.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +21.1% from 2012-2022. By contrast, Taiwan (Chinese) (-1.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, China and Japan increased by +4.7, +4 and +1.9 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported air conditioning machines for motor vehicles in Eastern Asia, comprising 80% of total imports. The second position in the ranking was taken by South Korea ($X), with an 8.9% share of total imports. It was followed by Japan, with a 7.6% share.

In China, motor vehicle air conditioning machine imports expanded at an average annual rate of +5.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+24.8% per year) and Japan (+12.8% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, dropping by -29.6% against the previous year. Over the period under review, the import price recorded a mild downturn. The pace of growth appeared the most rapid in 2018 an increase of 7.7% against the previous year. The level of import peaked at $X per unit in 2021, and then reduced remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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