Malaysia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Malaysia

In 2021, the Malaysian air conditioning machine market increased by 19% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Air Conditioning Machine Production in Malaysia

In value terms, air conditioning machine production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 13%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Air Conditioning Machine Exports

Exports from Malaysia

In 2021, the amount of air conditioning machines exported from Malaysia amounted to X units, increasing by 5% compared with 2020 figures. Over the period under review, exports, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 20% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, air conditioning machine exports amounted to $X in 2021. Overall, exports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 16% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X units) was the main destination for air conditioning machine exports from Malaysia, with a 34% share of total exports. Moreover, air conditioning machine exports to Vietnam exceeded the volume sent to the second major destination, Indonesia (X units), threefold. Germany (X units) ranked third in terms of total exports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam stood at +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+1.7% per year) and Germany (+8.1% per year).

In value terms, the largest markets for air conditioning machine exported from Malaysia were Vietnam ($X), Germany ($X) and France ($X), together accounting for 41% of total exports. These countries were followed by Australia, Indonesia, Italy, Singapore, Hong Kong SAR, Thailand, Japan, the Philippines, Spain and the United States, which together accounted for a further 45%.

Japan, with a CAGR of +22.2%, recorded 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 2021, the average air conditioning machine export price amounted to $X per unit, dropping by -2.3% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to Indonesia ($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 Japan (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Malaysia

For the fourth year in a row, Malaysia recorded growth in overseas purchases of air conditioning machines, which increased by 7.6% to X units in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.9% against 2017 indices. The growth pace was the most rapid in 2019 when imports increased by 25%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, air conditioning machine imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest air conditioning machine supplier to Malaysia, with a 81% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +14.5%.

In value terms, China ($X) constituted the largest supplier of air conditioning machine to Malaysia, comprising 68% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +9.2%.

Import Prices by Country

In 2021, the average air conditioning machine import price amounted to $X per unit, increasing by 8.6% against the previous year. In general, the import price, however, showed a pronounced descent. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.0%).

Source: IndexBox Platform

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