Southern Asia: Market for Air Conditioning Machines For Motor Vehicles 2024

Market Size for Air Conditioning Machines For Motor Vehicles in Southern Asia

The South Asian market for air conditioning machines for motor vehicles totaled $X in 2022, increasing by 2.4% against the previous year. In general, consumption continues to indicate a resilient expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Air Conditioning Machines For Motor Vehicles in Southern Asia

In value terms, motor vehicle air conditioning machine production rose modestly to $X in 2022 estimated in export price. Over the period under review, production posted prominent growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 28%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Air Conditioning Machines For Motor Vehicles

Exports in Southern Asia

In 2022, overseas shipments of air conditioning machines for motor vehicles increased by 76% to X units, rising for the second year in a row after two years of decline. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 346%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, motor vehicle air conditioning machine exports surged to $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 473%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X units), together reaching 99.9% of total export.

India was also the fastest-growing in terms of the air conditioning machines for motor vehicles exports, with a CAGR of +45.5% from 2012 to 2022. India (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest motor vehicle air conditioning machine supplier in Southern Asia.

In India, motor vehicle air conditioning machine exports expanded at an average annual rate of +44.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, with a decrease of -29.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 29%. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.4% per year.

Imports of Air Conditioning Machines For Motor Vehicles

Imports in Southern Asia

After two years of growth, overseas purchases of air conditioning machines for motor vehicles decreased by -31.7% to X units in 2022. Overall, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 35% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, motor vehicle air conditioning machine imports fell markedly to $X in 2022. Over the period under review, imports saw a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 26%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

India was the largest importer of air conditioning machines for motor vehicles in Southern Asia, with the volume of imports resulting at X units, which was near 77% of total imports in 2022. It was distantly followed by Bangladesh (X units), achieving a 19% share of total imports.

Imports into India decreased at an average annual rate of -11.0% from 2012 to 2022. At the same time, Bangladesh (+28.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +28.8% from 2012-2022. Bangladesh (+18 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -20.7% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported air conditioning machines for motor vehicles in Southern Asia, comprising 87% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 9.3% share of total imports.

In India, motor vehicle air conditioning machine imports plunged by an average annual rate of -9.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, reducing by -3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 18% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while Bangladesh stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.4%).

Source: IndexBox Platform

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