Philippines: Market for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems 2024

Market Size for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in the Philippines

In 2022, the Philippine market for window or wall air conditioning systems, self-contained or split-systems was finally on the rise to reach $X after two years of decline. In general, consumption enjoyed prominent growth. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Exports from the Philippines

In 2022, the amount of window or wall air conditioning systems, self-contained or split-systems exported from the Philippines declined rapidly to X units, with a decrease of -21.1% compared with 2021 figures. In general, exports recorded a pronounced contraction. The pace of growth was the most pronounced in 2015 with an increase of 108%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of window or wall air conditioning systems, self-contained or split-systems surged to $X in 2022. Over the period under review, exports, however, posted perceptible growth. The pace of growth appeared the most rapid in 2015 with an increase of 186%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Hong Kong SAR (X units) was the main destination for exports of window or wall air conditioning systems, self-contained or split-systems from the Philippines, accounting for a 86% share of total exports. Moreover, exports of window or wall air conditioning systems, self-contained or split-systems to Hong Kong SAR exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+4.7% per year) and Singapore (-51.1% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for window or wall air conditioning systems, self-contained or split-systems exports from the Philippines, comprising 88% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+13.1% per year) and Singapore (-44.0% per year).

Export Prices by Country

The average export price for window or wall air conditioning systems, self-contained or split-systems stood at $X per unit in 2022, jumping by 62% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for window or wall air conditioning systems, self-contained or split-systems increased by +94.8% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Singapore (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Imports into the Philippines

In 2022, imports of window or wall air conditioning systems, self-contained or split-systems into the Philippines skyrocketed to X units, picking up by 51% compared with the previous year. In general, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 86%. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, imports of window or wall air conditioning systems, self-contained or split-systems skyrocketed to $X in 2022. Over the period under review, imports showed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 81% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of window, wall, or split air conditioning system to the Philippines, with a 70% share of total imports. Moreover, imports of window or wall air conditioning systems, self-contained or split-systems from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. The third position in this ranking was held by Malaysia (X units), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+17.4% per year) and Malaysia (+35.3% per year).

In value terms, China ($X), Thailand ($X) and Malaysia ($X) appeared to be the largest window, wall, or split air conditioning system suppliers to the Philippines, together comprising 96% of total imports.

Malaysia, with a CAGR of +36.6%, recorded the highest growth rate of 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 window or wall air conditioning systems, self-contained or split-systems stood at $X per unit in 2022, which is down by -1.8% against the previous year. Over the period under review, the import price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a 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 Vietnam ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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