Eastern 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 Eastern Asia

In 2022, the East Asian market for window or wall air conditioning systems, self-contained or split-systems was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a slight decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

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

In value terms, production of window or wall air conditioning systems, self-contained or split-systems reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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

Exports in Eastern Asia

After five years of growth, overseas shipments of window or wall air conditioning systems, self-contained or split-systems decreased by -6.4% to X units in 2022. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 57% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2021, and then contracted in the following year.

In value terms, exports of window or wall air conditioning systems, self-contained or split-systems expanded markedly to $X in 2022. The total export value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 12% 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 dominates split-systems structure, recording X units, which was near 96% of total exports in 2022. South Korea (X units) held a little share of total exports.

Exports from China increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, South Korea (+4.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest window, wall, or split air conditioning system supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 4.6% share of total exports.

In China, exports of window or wall air conditioning systems, self-contained or split-systems increased at an average annual rate of +3.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, growing by 13% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 24%. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.0%).

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

Imports in Eastern Asia

In 2022, imports of window or wall air conditioning systems, self-contained or split-systems in Eastern Asia reduced notably to X units, with a decrease of -16.9% against the year before. In general, imports showed a slight decrease. The growth pace was the most rapid in 2013 when imports increased by 12%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of window or wall air conditioning systems, self-contained or split-systems dropped to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Japan was the key importing country with an import of about X units, which amounted to 65% of total imports. South Korea (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (12%) and Taiwan (Chinese) (7.1%).

From 2012 to 2022, average annual rates of growth with regard to window, wall, or split air conditioning system imports into Japan stood at -1.9%. At the same time, South Korea (+9.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.4% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-4.1%) illustrated a downward trend over the same period. South Korea (+9.1 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Japan saw its share reduced by -4.4% and -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported window or wall air conditioning systems, self-contained or split-systems in Eastern Asia, comprising 63% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at -2.5%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+8.2% per year) and Hong Kong SAR (-0.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, increasing by 5.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 10%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per unit) and South Korea ($X per unit), while Hong Kong SAR ($X per unit) and Japan ($X per unit) were 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 mixed trends in the import price figures.

Source: IndexBox Platform

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