India: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in India

The Indian air conditioning machine market dropped to $X in 2021, which is down by -6% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.4% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Air Conditioning Machine Production in India

In value terms, air conditioning machine production reduced slightly to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.6% against 2014 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 43%. Air conditioning machine production peaked at $X in 2020, and then shrank slightly in the following year.

Air Conditioning Machine Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of air conditioning machines, when their volume increased by 51% to X units. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 218%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 218% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X units) was the main destination for air conditioning machine exports from India, with a 32% share of total exports. Moreover, air conditioning machine exports to China exceeded the volume sent to the second major destination, Sri Lanka (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+44.1% per year) and the United Arab Emirates (+18.4% per year).

In value terms, the United Arab Emirates ($X), Sri Lanka ($X) and Nepal ($X) constituted the largest markets for air conditioning machine exported from India worldwide, with a combined 37% share of total exports.

Nepal, with a CAGR of +73.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average air conditioning machine export price stood at $X per unit in 2021, reducing by -12.5% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 27%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.5%), while the prices for the other major destinations experienced a decline.

Air Conditioning Machine Imports

Imports into India

In 2021, the amount of air conditioning machines imported into India declined significantly to X units, waning by -34.1% on 2020. In general, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 31%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, air conditioning machine imports declined notably to $X in 2021. Over the period under review, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 29% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X units) constituted the largest air conditioning machine supplier to India, with a 65% share of total imports. Moreover, air conditioning machine imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Hong Kong SAR (X units) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.5% per year) and Hong Kong SAR (+20.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of air conditioning machine to India, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports. It was followed by Malaysia, with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.4% per year) and Malaysia (-29.4% per year).

Import Prices by Country

In 2021, the average air conditioning machine import price amounted to $X per unit, surging by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+14.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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