Thailand: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Thailand

The Thai air conditioning machine market reduced to $X in 2022, which is down by -5.5% against the previous year. Overall, consumption, however, saw a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Air Conditioning Machine Production in Thailand

In value terms, air conditioning machine production expanded markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.8% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 77% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Air Conditioning Machine Exports

Exports from Thailand

In 2022, overseas shipments of non-window or wall air conditioning machines increased by 30% to X units, rising for the fourth consecutive year after three years of decline. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 112% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, air conditioning machine exports expanded to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), France (X units) and Italy (X units) were the main destinations of air conditioning machine exports from Thailand, together comprising 43% of total exports. Germany, Australia, Spain, Sweden, New Zealand, Vietnam, Finland, Taiwan (Chinese), India and Turkey lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +26.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Thailand, comprising 26% of total exports. The second position in the ranking was held by Italy ($X), with an 11% share of total exports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.0% per year) and France (+10.4% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, shrinking by -20.9% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of 80%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Australia (-8.6%), while the prices for the other major destinations experienced a decline.

Air Conditioning Machine Imports

Imports into Thailand

In 2022, purchases abroad of non-window or wall air conditioning machines decreased by -35.6% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a slight reduction. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. Imports peaked at X units in 2021, and then reduced notably in the following year.

In value terms, air conditioning machine imports rose notably to $X in 2022. Over the period under review, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 31% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of air conditioning machine to Thailand, with a 74% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. The third position in this ranking was held by the Czech Republic (X units), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.3% per year) and the Czech Republic (+108.8% per year).

In value terms, China ($X) constituted the largest supplier of non-window or wall air conditioning machines to Thailand, comprising 64% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Japan, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.0% per year) and Japan (-17.3% per year).

Import Prices by Country

In 2022, the average air conditioning machine import price amounted to $X per unit, with an increase of 74% against the previous year. Overall, the import price, however, showed a noticeable decline. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform