Thailand Air Conditioner market to Reach $ 3 Billion by 2025
Increasing disposable income, affordable product availability, commercial space
expansion and latest technologies to drive Thailand air conditioner market
According to TechSci Research report, “Thailand
Air Conditioners Market By Product Type, By End User, By Region, By
Company, Competition, Forecast & Opportunities 2025”, Thailand air conditioners market is forecast to cross $ 3
billion by 2025 on account of expanding population and rising disposable income
of consumers. Moreover, advancements in product technology and availability of various
well-known brands have been positively influencing the market. Besides,
consumer shift towards better quality, performance and features will further drive
demand for air conditioners in Thailand during the forecast period. Furthermore,
hot weather and increasing product affordability of middle-income customers and
growing popularity towards energy-efficient air conditioner will propel the
market in the coming years. With air conditioners
becoming one of the necessary products in Thai households coupled with spread
of COVID-19, the trend of buying air conditioners online is gaining strength in
the country.
Based
on the product type, Thailand air conditioner market is segmented into (Splits,
VRFs, Chillers, Windows, and Others ((Portable, floor etc.). As of 2019, Split
type air conditioner category held the largest share in the Thailand air
conditioners market. In addition, companies are also increasingly manufacturing
energy-efficient and affordable air conditioners to fulfil the demand for the residential
segment. Furthermore, Chiller type air conditioner segment holds the second
largest market share in value terms in Thailand air conditioners market due to
increasing commercial space.
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Thailand
air conditioners market is further segmented based on end use sector. In 2019, the
residential air conditioner end user segment held the largest market share in Thailand
air conditioners market due to growing population and increasing residential real
estate construction. In addition, availability of easy financing options is
boosting the growth of air conditioners market in the country. Furthermore,
small offices and shops are also opting for the residential air conditioner as the
installation of a commercial air conditioner involves a lot higher investment,
which not everyone can afford. However, VRFs and chiller type air conditioners
are highly opted and suitable for big commercial spaces such as factories,
offices, and institutions due to their higher cost-efficiency.
Based on the region, Thailand air
conditioner market is segmented into Northern Thailand, Eastern Thailand, North
East Thailand, Southern Thailand, Western Thailand, Central Thailand. Until
2019, North Thailand held the largest market share and this trend is expected
to continue through the forecast period. Some of the leading players in
Thailand air conditioner market include Daikin Industries (Thailand) Limited,
Mitsubishi Electric Consumer Products (Thailand) Co.,Ltd, Panasonic (Thailand)
Co.,Ltd., Midea Refrigeration Equipment (Thailand) Co., Ltd., Thai Samsung
Electronics Co., Ltd, LG Electronics (Thailand) Co.,Ltd., Sharp Thai Co., Ltd,
Hitachi Sales (Thailand), Ltd, Haier Electrical Appliances (Thailand) Co.,
Ltd., Carrier (Thailand) Co., Ltd., Toshiba Carrier (Thailand) Co., Ltd. among
others.
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“Air conditioners market is growing in Thailand due to
rising demand from both residential and commercial sectors. Consequently. leading
brands are also rapidly trying to capture the customer base from both the
sectors. Market players are increasing their focus on providing the latest
technologies and features for attracting the costumers in addition to offering
smooth after-sale services.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Thailand Air Conditioners Market By Product Type,
By End User, By Region, By Company, Competition, Forecast & Opportunities 2025
” has
evaluated the future growth potential of Thailand Air Conditioners market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Thailand air conditioners market.
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