Southern Asia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Southern Asia

In 2021, after two years of growth, there was significant decline in the South Asian air conditioning machine market, when its value decreased by -6.8% to $X. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Air Conditioning Machine Production in Southern Asia

In value terms, air conditioning machine production contracted to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 +38.0% against 2014 indices. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Air Conditioning Machine Exports

Exports in Southern Asia

Air conditioning machine exports skyrocketed to X units in 2021, rising by 49% compared with 2020. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 196%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, air conditioning machine exports surged to $X in 2021. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 216%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

In 2021, India (X units) represented the largest exporter of air conditioning machines in Southern Asia, mixing up 98% of total export.

India was also the fastest-growing in terms of the air conditioning machines exports, with a CAGR of +36.9% from 2012 to 2021. While the share of India (+34 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In India, air conditioning machine exports increased at an average annual rate of +28.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, with a decrease of -13.1% against the previous year. Overall, the export price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2020 an increase of 27%. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -6.3% per year.

Air Conditioning Machine Imports

Imports in Southern Asia

In 2021, overseas purchases of air conditioning machines decreased by -23.9% to X units, falling for the third consecutive year after four years of growth. Over the period under review, imports showed a noticeable decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 28%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, air conditioning machine imports reduced to $X in 2021. Overall, imports showed a mild downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 21% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X units) was the key importer of air conditioning machines, making up 71% of total imports. Bangladesh (X units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (5.9%). The following importers - Maldives (X units), Pakistan (X units), Nepal (X units) and Afghanistan (X units) - together made up 11% of total imports.

Imports into India decreased at an average annual rate of -4.8% from 2012 to 2021. At the same time, Maldives (+20.8%), Nepal (+16.7%), Sri Lanka (+11.5%), Bangladesh (+7.7%) and Pakistan (+2.9%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +20.8% from 2012-2021. By contrast, Afghanistan (-8.3%) illustrated a downward trend over the same period. While the share of Bangladesh (+6.7 p.p.), Sri Lanka (+4.1 p.p.), Maldives (+3 p.p.) and Nepal (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-16.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported air conditioning machines in Southern Asia, comprising 65% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 14% share of total imports. It was followed by Sri Lanka, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at -3.7%. In the other countries, the average annual rates were as follows: Bangladesh (+7.8% per year) and Sri Lanka (+13.0% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, increasing by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :