ASEAN: Hvac Equipment Market 2024

Hvac Equipment Market Size in ASEAN

The ASEAN HVAC equipment market rose significantly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hvac Equipment Production in ASEAN

In value terms, HVAC equipment production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Hvac Equipment Exports

Exports in ASEAN

In 2022, overseas shipments of HVAC equipment increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, exports saw buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, HVAC equipment exports expanded rapidly to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Thailand (X units) represented the major exporter of HVAC equipment, committing X% of total exports. Malaysia (X units) ranks second in terms of the total exports with a X% share, followed by Singapore (X%), Cambodia (X%) and Vietnam (X%).

Exports from Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%), Vietnam (X%), Singapore (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Cambodia (X p.p.), Thailand (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest HVAC equipment supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the export price recorded a pronounced slump. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Hvac Equipment Imports

Imports in ASEAN

For the eleventh year in a row, ASEAN recorded growth in overseas purchases of HVAC equipment, which increased by X% to X units in 2022. In general, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, HVAC equipment imports rose remarkably to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Thailand (X units) was the largest importer of HVAC equipment, creating X% of total imports. Singapore (X units) took the second position in the ranking, followed by Malaysia (X units) and the Philippines (X units). All these countries together held approx. X% share of total imports. The following importers - Indonesia (X units) and Vietnam (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to HVAC equipment imports into Thailand stood at X%. At the same time, the Philippines (X%), Malaysia (X%), Vietnam (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Malaysia (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, the Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, with an increase of X% against the previous year. In general, the import price, however, saw a perceptible descent. The growth pace was the most rapid in 2019 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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