Eastern Asia: Hvac Equipment Market 2024

Hvac Equipment Market Size in Eastern Asia

In 2022, after two years of decline, there was growth in the East Asian HVAC equipment market, when its value increased by X% to $X. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Hvac Equipment Production in Eastern Asia

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% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hvac Equipment Exports

Exports in Eastern Asia

In 2022, shipments abroad of HVAC equipment decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then reduced in the following year.

In value terms, HVAC equipment exports expanded sharply to $X in 2022. Total exports indicated a moderate expansion 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 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

China was the main exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Hong Kong SAR (X units), making up a X% share of total exports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the HVAC equipment exports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (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 ($X) remains the largest HVAC equipment supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

In China, HVAC equipment exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price posted modest growth. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. Over the period under review, the export prices attained the peak figure 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 China ($X per unit), while Hong Kong SAR ($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 Eastern Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of HVAC equipment, when their volume decreased by X% to X units. Total imports indicated measured growth 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 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then fell in the following year.

In value terms, HVAC equipment imports declined to $X in 2022. The total import 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Hong Kong SAR (X units) and China (X units) represented roughly X% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X units) and Japan (X units), together mixing up a X% share of total imports. South Korea (X units) followed a long way behind the leaders.

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 Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together accounting for X% of total imports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw 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 Eastern Asia amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 South Korea ($X per unit), while Hong Kong SAR ($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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