Redding, California, Aug. 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled ‘Southeast Asia Air Conditioners Market by Type (Split, Window, Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others), Technology (Inverter, Non-inverter), End User (Residential, Commercial, Industrial), and Geography,’ the Southeast Asia air conditioners market is projected to reach $8.66 billion by 2030, at a CAGR of 7.2% during the forecast period 2023–2030.
An air conditioner is a system that cools indoor spaces by removing heat from them and moving it outside. The benefits of air conditioners include reduced humidity, prevention of asthma and allergies, and overall better indoor air quality. The increasing installation of air conditioning units, AC manufacturers’ growing emphasis on developing portable air conditioners with advanced technologies, and the increasing use of air conditioners in the industrial sector are major factors driving the Southeast Asia air conditioners market.
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Soaring temperatures & humidity levels, consumers’ growing inclination toward convenience & comfort, and the rising demand for energy-efficient air conditioners also support the growth of this market. However, the high costs of air conditioners limit their adoption, restraining the growth of the Southeast Asia air conditioners market.
The rising adoption of air conditioners with inverter & air purification technologies and technological advancements in HVAC systems are creating growth opportunities for the players operating in this market. However, air conditioners’ high energy use is a challenge for market growth. Additionally, connected air conditioners and solar photovoltaic (PV) & solar thermal-assisted air conditioning systems are prominent trends in this market.
The Southeast Asia air conditioners market is segmented by type (split ACs, window ACs, centralized/ducted ACs, VRF (variable refrigerant flow) systems, and other air conditioner types), tonnage (up to 2 tons, 2 tons to 5 tons, 5 tons to 10 tons, and more than 10 tons), technology (inverter ACs and non-inverter ACs), rating (1 Star ACs, 2 Star ACs, 3 Star ACs, 4 Star ACs, and 5 Star ACs ), end user (residential end users, commercial end users, and industrial end users), and geography. The study also evaluates industry competitors and analyzes the market at the regional/country level.
Based on type, the Southeast Asia air conditioners market is segmented into window ACs, split ACs, VRF (Variable Refrigerant Flow) systems, centralized/ducted ACs, and other air conditioner types. In 2023, the split ACs segment is expected to account for the largest share of the Southeast Asia air conditioners market. However, the centralized/ducted ACs segment is projected to record the highest CAGR during the forecast period. The growing demand for energy-efficient and sustainable ducted air conditioning systems in developing countries in Southeast Asia is contributing to the growth of the centralized/ducted ACs segment. Centralized air conditioners heat or cool air at a central location and distribute it across numerous rooms or zones through ducts. This factor also supports the segment’s high growth.
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Based on tonnage, the Southeast Asia air conditioners market is segmented into up to 2 tons, 2 tons to 5 tons, 5 tons to 10 tons, and more than 10 tons. In 2023, the up to 2 tons segment is expected to account for the largest share of the Southeast Asia air conditioners market. However, the 2 tons to 5 tons segment is projected to register the highest CAGR during the forecast period. 2 to 5 ton air conditioning units are used to cool large rooms. The increasing demand for 2 to 5 ton AC units for cooling large rooms, the rising demand for ACs with anti-bacterial & anti-dust filters and anti-freeze thermostats, the high demand for ductable air conditioners, and the growing need for energy-efficient cooling systems also contribute to the growth of the 2 tons to 5 tons segment.
Based on technology, the Southeast Asia air conditioners market is segmented into inverter ACs and non-inverter ACs. In 2023, the inverter ACs segment is expected to account for the larger share of the Southeast Asia air conditioners market. Moreover, the segment is also projected to register the higher CAGR during the forecast period. Consumers’ growing awareness about the energy-saving benefits of inverter air conditioners and rising temperature & humidity are driving the segment's growth. In addition, the benefits of inverter air conditioners, such as cost-effectiveness, no temperature fluctuations, durability, faster cooling, lower power consumption, and being environmentally friendly, drive the growth of the inverter ACs segment.
Based on rating, the Southeast Asia air conditioners market is segmented into 1 Star ACs, 2 Star ACs, 3 Star ACs, 4 Star ACs, and 5 Star ACs. In 2023, the 3 Star ACs segment is expected to account for the largest share of the Southeast Asia air conditioners market. However, the 5 Star ACs segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by AC manufacturers’ growing focus on launching products with high energy efficiency and less power consumption.
Based on end user, the Southeast Asia air conditioners market is segmented into residential end users, commercial end users, and industrial end users. In 2023, the residential end users segment is expected to account for the largest share of the Southeast Asia air conditioners market. Moreover, the residential end users segment is also projected to register the highest CAGR during the forecast period. The rising adoption of smart home technologies and the increasing installation of air conditioners in apartments drive this segment’s growth.
The introduction of advanced residential air conditioners with features such as corrosion resistance, automated humidity control, and copper condensers is expected to create market growth opportunities.
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Based on geography, the Southeast Asia air conditioners market is segmented into Indonesia, Thailand, Malaysia, Singapore, Vietnam, and the Rest of Southeast Asia. In 2023, Indonesia is expected to account for the largest share of the Southeast Asia air conditioners market. Moreover, the country is also projected to register the highest CAGR during the forecast period. Technological advancements in air conditioners and the launch of energy-efficient air conditioners are expected to drive the growth of this country-level market.
In addition, the growing production of air conditioners in Indonesia has increased AC exports to other countries, supporting market growth. For instance, In 2021, Indonesia exported air conditioners worth USD 180 million, making the country the 28th largest exporter of air conditioners globally. Also, in the same year, air conditioners were the 177th most exported product for Indonesia.
Some of the key players operating in the Southeast Asia air conditioners market are Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Voltas Limited (India), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited (Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric Appliances Inc. (China), and Midea Group Co. Ltd (China).
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Scope of the Report:
Southeast Asia Air Conditioners Market Assessment—by Type
- Split ACs
- Window ACs
- Centralized/Ducted ACs
- VRF (Variable Refrigerant Flow) Systems
- Other Air Conditioner Types
Southeast Asia Air Conditioners Market Assessment—by Tonnage
- Up to 2 Tons
- 2 Tons to 5 Tons
- 5 Tons to 10 Tons
- More than 10 Tons
Southeast Asia Air Conditioners Market Assessment—by Technology
- Inverter ACs
- Non-inverter ACs
Southeast Asia Air Conditioners Market Assessment—by Rating
- 1 Star ACs
- 2 Star ACs
- 3 Star ACs
- 4 Star ACs
- 5 Star ACs
Southeast Asia Air Conditioners Market Assessment—by Geography
- Indonesia
- Thailand
- Malaysia
- Singapore
- Vietnam
- Rest of Southeast Asia
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Related Reports:
Air Conditioners Market - Global Opportunity Analysis and Industry Forecasts (2022-2029)
https://www.meticulousresearch.com/product/air-conditioners-market-5384
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