South-Eastern Asia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in South-Eastern Asia

In 2021, the Southeast Asian air conditioning machine market decreased by -16.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded a strong increase. The level of consumption peaked at $X in 2020, and then reduced rapidly in the following year.

Air Conditioning Machine Production in South-Eastern Asia

In value terms, air conditioning machine production declined to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +28.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Air Conditioning Machine Exports

Exports in South-Eastern Asia

In 2021, exports of air conditioning machines in South-Eastern Asia surged to X units, with an increase of 20% against the previous year's figure. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.8% against 2017 indices. The growth pace was the most rapid in 2020 when exports increased by 33% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand was the key exporting country with an export of about X units, which reached 81% of total exports. It was distantly followed by Malaysia (X units), creating a 15% share of total exports.

Thailand was also the fastest-growing in terms of the air conditioning machines exports, with a CAGR of +9.9% from 2012 to 2021. Malaysia (-2.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand increased by +21 percentage points.

In value terms, Thailand ($X) remains the largest air conditioning machine supplier in South-Eastern Asia, comprising 82% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports.

In Thailand, air conditioning machine exports expanded at an average annual rate of +5.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, remaining stable against the previous year. Overall, the export price recorded a perceptible downturn. The growth pace was the most rapid in 2017 an increase of 25% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per unit), while Malaysia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.2%).

Air Conditioning Machine Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of air conditioning machines decreased by -0.3% to X units, falling for the second year in a row after two years of growth. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 26% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, air conditioning machine imports rose modestly to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 16%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X units) represented the largest importer of air conditioning machines, generating 31% of total imports. The Philippines (X units) ranks second in terms of the total imports with a 15% share, followed by Malaysia (14%), Indonesia (13%), Thailand (11%) and Singapore (11%). Myanmar (X units) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +12.2% from 2012 to 2021. At the same time, the Philippines (+17.7%), Thailand (+11.9%), Malaysia (+6.1%) and Myanmar (+2.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +17.7% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-4.7%) illustrated a downward trend over the same period. While the share of Vietnam (+13 p.p.), the Philippines (+9.5 p.p.) and Thailand (+4.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-9.1 p.p.) and Singapore (-17 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest air conditioning machine importing markets in South-Eastern Asia were Vietnam ($X), Indonesia ($X) and Singapore ($X), with a combined 67% share of total imports. The Philippines, Thailand, Malaysia and Myanmar lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, the Philippines, with a CAGR of +15.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, rising by 2.5% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The most prominent rate of growth was recorded in 2018 when the import price increased by 4.9% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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