Thailand air conditioners
market is expected to reach USD1381.12 million in 2021, growing at a CAGR of
5.23% during the forecast period. The Thailand air conditioner market is mainly
driven by rising disposable income, demand from residential sectors, and
growing product innovations.
Air conditioners are
electrical appliances used to control a
particular area's humidity, ventilation, and temperature. The key reasons
propelling the growth of air conditioning in the country also include rising
per capita income, growing construction sector investments, and increasing
tourism demand.
The COVID-19 pandemic
adversely affected the shipping, logistics, and transportation sectors as well
as the supply chains, which led to a sharp decline in trading activity
throughout the lockdown period. A smaller workforce, congestion at specific
ports, cost-related concerns, and increased fees for some services were
additional problems the logistics sector faced. Due to lack of resources (staff
and facilities), many businesses could not finish their shipments.
COVID-19 pandemic
negatively impacted Thailand's air conditioner market sales. Major businesses
were forced to cease operations, which decreased sales across the country.
However, market participants concentrated on delivering greater comfort and
convenience through several initiatives to adapt to the situation. For example,
Voltas provided comprehensive extended warranty plans for air conditioners.
Along with this, businesses started offering simple financing options through
different NBFCs, and cash-back offers through different credit and debit cards.
Rising Technological
Innovations Fueling the Market Growth
Manufacturers are
working on product innovation to fulfill the need for energy and cost-saving.
For instance, in 2019, Daikin launched a split room air conditioner for
less than USD230 to meet the growing demand from the middle-class population.
Moreover, due to the highly competitive market scenario, manufacturers are
working towards providing features like seamless connectivity with Wi-Fi,
inverter-based air conditioners, which are further likely to steer growth in
the Thailand air conditioners market in the coming years.
Increasing Online
Presence is Fueling the Market Growth
Due to low operating
expenses, the online retail sector offers an attractive option for air
conditioner companies. Moreover, the introduction of online channels has
enabled consumers to effortlessly check out and compare a diverse selection of
products on a single platform without spending a significant amount of time in
stores. Additionally, rising internet usage, online search, and expanding
e-commerce have digitized the customer purchasing experience.
Growing Production
Capacities within the Country is Boosting the Market Growth
Almost 7 to 10% of the
air conditioners manufactured worldwide come from Thailand. The country is the
second-largest producer of air conditioners after China. Around 15 million air
conditioners are produced annually from a production facility in Thailand by
the two biggest air conditioner manufacturers, which include the Japanese companies
Daikin Industries and Mitsubishi Electric. Companies like Panasonic and
Mitsubishi opened their plants in Thailand to capture the largest market share.
This growth is intended to help them respond more quickly and adapt to the
growing market demands for residential and commercial air
conditioners, particularly in Asia.
Increasing Preference
for Inverter Technology is Fueling the Market Growth
The overall market for
inverter air conditioners has experienced significant growth, which is
anticipated to continue throughout the forecast period. Additionally,
inverter-based air conditioners are more energy-efficient and can drive the
compressor at various rates to match the desired productivity. Manufacturers
are introducing air conditioners that use inverter technology to increase
market shares. For instance, LG wants to increase its market share in Thailand
for inverter air conditioners to 15% by the end of 2021.
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Market Segmentation
Thailand air conditioner
market is segmented on product type, end-user sector, region, and competitional
landscape. Based on product type, the market is categorized by Split, VRF,
Window, Chiller, and others, including Cassette, Ductable Splits, etc. Based on
end users, the market is segmented into residential and commercial/industrial.
The market analysis also studies the regional segmentation.
Company Profiles
Daikin Industries
(Thailand) Co., Ltd. Toshiba Carrier
(Thailand) Co., Ltd, Thai Samsung Electronics Co., Ltd., Mitsubishi Electric
Consumers Product (Thailand) Co., Ltd., LG Electronics (Thailand) Co., Ltd., Panasonic
Solutions (Thailand) Co., Ltd., Arcelik Hitachi Home Appliances Sales
(Thailand) Ltd., Haier Electrical Appliances (Thailand) Co., Ltd., Sharp Thai
Co., Ltd., MD Consumer Appliances (Thailand) Co., Ltd. and others are among the
major market players in the air conditioner industry that led the market growth
of the Thailand air conditioner market.
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Attribute
|
Details
|
|
Market
Size Value in 2021
|
USD1381.12 Million
|
|
Revenue
Forecast in 2027F
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USD1874.64 Million
|
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Growth
Rate
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5.23%
|
|
Base
Year
|
2021
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|
Historical
Years
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2015 –
2020
|
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Estimated
Year
|
2022E
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Forecast
Period
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2023F–
2027F
|
|
Quantitative
Units
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Revenue in
USD Million, and CAGR for 2017-2021 and 2022-2027F
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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·
Product Type
·
End User Sector
·
Region
·
Company
|
|
Regional
Scope
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Central Region, North East Region, Northern Region,
Southern Region
|
|
Key
Companies Profiled
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Daikin
Industries (Thailand) Co., Ltd. Toshiba Carrier (Thailand) Co., Ltd, Thai
Samsung Electronics Co., Ltd., Mitsubishi Electric Consumers Product
(Thailand) Co., Ltd., LG Electronics (Thailand) Co., Ltd., Panasonic
Solutions (Thailand) Co., Ltd., Arcelik Hitachi Home Appliances Sales
(Thailand) Ltd., Haier Electrical Appliances (Thailand) Co., Ltd., Sharp Thai
Co., Ltd., MD Consumer Appliances (Thailand) Co., Ltd.,
etc.
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|
Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
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Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request)
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Report Scope:
In this report, Thailand air conditioner
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Thailand
Air Conditioner Market, By Product Type:
- Split
- VRF
- Window
- Chiller
- Other
- Thailand Air Conditioner
Market,
By End User Sector:
- Residential
- Commercial/Industrial
- Thailand Air
Conditioner Market,
By Region:
- Central Region
- North East Region
- Northern Region
- Southern Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Thailand air conditioners market.
Available Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).