Asia-Pacific: Hvac Equipment Market 2024

Hvac Equipment Market Size in Asia-Pacific

The Asia-Pacific HVAC equipment market expanded modestly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hvac Equipment Production in Asia-Pacific

In value terms, HVAC equipment production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Hvac Equipment Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was decline in overseas shipments of HVAC equipment, when their volume decreased by X% to X units. Over the period under review, exports, however, showed moderate growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021, and then dropped slightly in the following year.

In value terms, HVAC equipment exports amounted to $X in 2022. Total exports indicated a buoyant 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 was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, China (X units) represented the largest exporter of HVAC equipment, making up X% of total exports. It was distantly followed by Hong Kong SAR (X units), achieving a X% share of total exports. Thailand (X units) and Taiwan (Chinese) (X units) took a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest HVAC equipment supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with an X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price enjoyed slight growth. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 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 Thailand ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Hvac Equipment Imports

Imports in Asia-Pacific

In 2022, after two years of growth, there was decline in purchases abroad of HVAC equipment, when their volume decreased by X% to X units. Total imports indicated a tangible expansion from 2012 to 2022: its volume 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 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X units in 2021, and then shrank in the following year.

In value terms, HVAC equipment imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Hong Kong SAR (X units) and China (X units) represented roughly X% of total imports in 2022. Thailand (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%) and Japan (X%). The following importers - Singapore (X units) and India (X units) - each recorded an X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest HVAC equipment importing markets in Asia-Pacific were Japan ($X), China ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. Singapore, India, Taiwan (Chinese) and Thailand lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 Asia-Pacific amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 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 Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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