India: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in India

The Indian air conditioning machine market stood at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Air Conditioning Machine Production in India

In value terms, air conditioning machine production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Air Conditioning Machine Exports

Exports from India

Air conditioning machine exports from India soared to X units in 2022, increasing by 27% against 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 341% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, air conditioning machine exports soared to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 354%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X units) was the main destination for air conditioning machine exports from India, with a 30% share of total exports. Moreover, air conditioning machine exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was held by Bangladesh (X units), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +71.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+60.2% per year) and Bangladesh (+37.2% per year).

In value terms, the United States ($X), Bangladesh ($X) and Singapore ($X) appeared to be the largest markets for air conditioning machine exported from India worldwide, with a combined 49% share of total exports.

Among the main countries of destination, Singapore, with a CAGR of +103.5%, recorded the highest rates of growth with regard to the value of exports, 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 air conditioning machine export price amounted to $X per unit, increasing by 1.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 18% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into India

In 2022, supplies from abroad of non-window or wall air conditioning machines increased by 24% to X units, rising for the second year in a row after four years of decline. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 153%. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports expanded rapidly to $X in 2022. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 83%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of air conditioning machine to India, accounting for a 55% share of total imports. Moreover, air conditioning machine imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +33.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.9% per year) and the UK (+57.6% per year).

In value terms, Thailand ($X), China ($X) and the UK ($X) were the largest air conditioning machine suppliers to India, with a combined 82% share of total imports. Singapore, Malaysia, South Korea, the United States and Germany lagged somewhat behind, together accounting for a further 12%.

Singapore, with a CAGR of +54.1%, saw the highest rates of growth with regard to the value of imports, in terms of 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 air conditioning machine import price stood at $X per unit in 2022, falling by -13.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2017 an increase of 61%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform