India: Market for Air conditioning Machines without Refrigeration Unit 2024

Market Size for Air conditioning Machines without Refrigeration Unit in India

The Indian market for air conditioning machines without refrigeration unit amounted to $X in 2022, increasing by 2.8% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.5% against 2020 indices. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Air conditioning Machines without Refrigeration Unit in India

In value terms, production of air conditioning machines without refrigeration unit rose slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from India

Exports of air conditioning machines without refrigeration unit from India surged to X units in 2022, rising by 61% compared with 2021. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 418%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, exports of air conditioning machines without refrigeration unit skyrocketed to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 386% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Singapore (X units), Bangladesh (X units) and the Philippines (X units) were the main destinations of exports of air conditioning machines without refrigeration unit from India, with a combined 47% share of total exports. The Netherlands, Indonesia, the United States, Malaysia, South Korea, Australia, Nepal, Thailand and the United Arab Emirates lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +95.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for air conditioning machins without refrigeration unit exported from India were Singapore ($X), Bangladesh ($X) and the Philippines ($X), with a combined 47% share of total exports. The Netherlands, Indonesia, the United States, Malaysia, South Korea, Australia, Nepal, Thailand and the United Arab Emirates lagged somewhat behind, together accounting for a further 43%.

South Korea, with a CAGR of +84.0%, saw the highest growth rate of the value of exports, among 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

In 2022, the average export price for air conditioning machines without refrigeration unit amounted to $X per unit, flattening at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per unit) and Australia ($X per unit), while the average price for exports to Singapore ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.9%), while the prices for the other major destinations experienced a decline.

Imports of Air conditioning Machines without Refrigeration Unit

Imports into India

Imports of air conditioning machines without refrigeration unit into India reduced to X units in 2022, with a decrease of -10.1% on 2021 figures. Over the period under review, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2016 when imports increased by 89%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of air conditioning machines without refrigeration unit contracted to $X in 2022. Overall, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 68% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and South Korea (X units) were the main suppliers of imports of air conditioning machines without refrigeration unit to India, together accounting for 89% of total imports. Turkey, Japan, France, the United States and Malaysia lagged somewhat behind, together accounting for a further 6.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +93.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machins without refrigeration unit suppliers to India were Thailand ($X), China ($X) and South Korea ($X), with a combined 89% share of total imports. Turkey, Japan, France, the United States and Malaysia lagged somewhat behind, together accounting for a further 6.7%.

Turkey, with a CAGR of +91.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for air conditioning machines without refrigeration unit stood at $X per unit in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 13%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and China ($X per unit), while the price for France ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform