Vietnam: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Vietnam

In 2022, the Vietnamese air conditioning machine market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -22.2% against 2019 indices. Air conditioning machine consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Air Conditioning Machine Exports

Exports from Vietnam

In 2022, air conditioning machine exports from Vietnam skyrocketed to X units, growing by 301% on 2021. In general, exports showed strong growth. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports surged to $X in 2022. Overall, exports posted a pronounced expansion. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X units), Cambodia (X units) and Italy (X units) were the main destinations of air conditioning machine exports from Vietnam, with a combined 90% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +46.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for air conditioning machine exported from Vietnam were Cambodia ($X), the Philippines ($X) and China ($X), with a combined 84% share of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +54.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average air conditioning machine export price stood at $X per unit in 2022, falling by -8.7% against the previous year. Over the period under review, the export price recorded a perceptible decline. The growth pace was the most rapid in 2018 an increase of 23%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to Italy ($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 Italy (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Vietnam

In 2022, imports of non-window or wall air conditioning machines into Vietnam soared to X units, rising by 31% compared with the previous year. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.0% against 2020 indices. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports surged to $X in 2022. Over the period under review, imports, however, saw a mild curtailment. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units) constituted the largest air conditioning machine supplier to Vietnam, accounting for a 52% share of total imports. Moreover, air conditioning machine imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Malaysia (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.8% per year) and Malaysia (+2.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of non-window or wall air conditioning machines to Vietnam, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Malaysia, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.4% per year) and Malaysia (-3.0% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2022, rising by 4% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 19%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform