Eastern Asia: Hvac Equipment Market 2024

Hvac Equipment Market Size in Eastern Asia

After three years of decline, the East Asian HVAC equipment market increased by X% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Hvac Equipment Production in Eastern Asia

In value terms, HVAC equipment production reached $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Hvac Equipment Exports

Exports in Eastern Asia

In 2022, after four years of growth, there was significant decline in overseas shipments of HVAC equipment, when their volume decreased by X% to X units. In general, exports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, HVAC equipment exports expanded markedly to $X in 2022. Total exports indicated a temperate expansion 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 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

China represented the main exporter of HVAC equipment in Eastern Asia, with the volume of exports reaching X units, which was near X% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), committing a X% share of total exports.

China was also the fastest-growing in terms of the HVAC equipment exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. China (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 ($X) remains the largest HVAC equipment supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

In China, HVAC equipment exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price showed pronounced growth. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices reached the maximum 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 China ($X per unit), while Hong Kong SAR stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Hvac Equipment Imports

Imports in Eastern Asia

After two years of growth, purchases abroad of HVAC equipment decreased by X% to X units in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then declined dramatically in the following year.

In value terms, HVAC equipment imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Hong Kong SAR represented the main importing country with an import of around X units, which resulted at X% of total imports. China (X units) ranks second in terms of the total imports with a X% share, followed by Japan (X%). South Korea (X units) followed a long way behind the leaders.

Imports into Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in Eastern Asia amounted to $X per unit, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices attained 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