Malaysia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Malaysia

In 2022, after two years of decline, there was significant growth in the Malaysian air conditioning machine market, when its value increased by 18% to $X. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -24.9% against 2019 indices. Air conditioning machine consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Air Conditioning Machine Production in Malaysia

In value terms, air conditioning machine production fell modestly to $X in 2022 estimated in export price. In general, production, however, showed a slight descent. The most prominent rate of growth was recorded in 2013 with an increase of 13%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Air Conditioning Machine Exports

Exports from Malaysia

After two years of growth, overseas shipments of non-window or wall air conditioning machines decreased by -18.4% to X units in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year. As a result, the exports attained the peak of X units, and then dropped sharply in the following year.

In value terms, air conditioning machine exports reduced rapidly to $X in 2022. Overall, exports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 68% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for air conditioning machine exports from Malaysia, with a 38% share of total exports. Moreover, air conditioning machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X units), fourfold. Australia (X units) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+48.5% per year) and Australia (+3.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Malaysia, comprising 18% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 9% share of total exports. It was followed by Australia, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.2% per year) and Australia (+2.4% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, declining by -2.2% against the previous year. In general, the export price saw a pronounced decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 18% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United Arab Emirates ($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 India (-0.1%), while the prices for the other major destinations experienced a decline.

Air Conditioning Machine Imports

Imports into Malaysia

Air conditioning machine imports into Malaysia declined dramatically to X units in 2022, with a decrease of -28.5% on the previous year. Overall, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2014 when imports increased by 134% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, air conditioning machine imports dropped rapidly to $X in 2022. In general, imports continue to indicate a pronounced slump. The growth pace was the most rapid in 2014 when imports increased by 82%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest air conditioning machine supplier to Malaysia, accounting for a 68% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X units), ninefold. The third position in this ranking was held by the United States (X units), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+21.2% per year) and the United States (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of non-window or wall air conditioning machines to Malaysia, comprising 60% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by South Korea, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.5% per year) and South Korea (-0.0% per year).

Import Prices by Country

In 2022, the average air conditioning machine import price amounted to $X per unit, picking up by 13% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 31%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform