Global Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size

The global air conditioning machine market reduced to $X in 2022, approximately reflecting the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the global market remained at a lower figure.

Air Conditioning Machine Production

In value terms, air conditioning machine production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, global production growth remained at a lower figure.

Air Conditioning Machine Exports

Exports

For the third consecutive year, the global market recorded growth in overseas shipments of non-window or wall air conditioning machines, which increased by 8.6% to X units in 2022. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.4% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, air conditioning machine exports expanded modestly to $X in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

China represented the main exporter of non-window or wall air conditioning machines in the world, with the volume of exports amounting to X units, which was near 39% of total exports in 2022. Mexico (X units) ranks second in terms of the total exports with a 16% share, followed by Thailand (13%) and Italy (5.1%). The United States (X units), Canada (X units), Germany (X units), the Netherlands (X units) and Spain (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +11.4% from 2012 to 2022. At the same time, Mexico (+14.8%), Canada (+10.4%), Thailand (+9.2%), the Netherlands (+7.0%) and Spain (+3.8%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.8% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Germany (-3.2%) and the United States (-5.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Mexico and Thailand increased by +15, +8.6 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), China ($X) and the United States ($X) were the countries with the highest levels of exports in 2022, together accounting for 44% of global exports.

Mexico, with a CAGR of +13.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global 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 -6.3% against the previous year. Over the period under review, the export price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 5.5% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per unit), while China ($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 United States (+6.5%), while the other global leaders experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports

Global air conditioning machine imports skyrocketed to X units in 2022, growing by 25% against the previous year's figure. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 14%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The United States dominates imports structure, resulting at X units, which was near 51% of total imports in 2022. It was distantly followed by Canada (X units), creating a 5.6% share of total imports. The following importers - France (X units), Germany (X units), the UK (X units), the Netherlands (X units), Hong Kong SAR (X units), Russia (X units), Singapore (X units) and Italy (X units) - together made up 17% of total imports.

The United States was also the fastest-growing in terms of the non-window or wall air conditioning machines imports, with a CAGR of +21.1% from 2012 to 2022. At the same time, the Netherlands (+7.9%), Canada (+6.0%), the UK (+4.5%), France (+4.0%), Germany (+4.0%), Italy (+1.9%), Singapore (+1.4%) and Hong Kong SAR (+1.1%) displayed positive paces of growth. Russia experienced a relatively flat trend pattern. The United States (+36 p.p.) significantly strengthened its position in terms of the global imports, while Russia saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported non-window or wall air conditioning machines worldwide, comprising 24% of global imports. The second position in the ranking was taken by Canada ($X), with a 7.5% share of global imports. It was followed by Germany, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +9.0%. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+5.6% per year) and Germany (+3.6% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2022, waning by -13.7% against the previous year. Overall, the import price saw a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 6.8% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 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 Italy ($X per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform