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South East Asia Air Conditioners Market
South East 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 - Forecast to 2030
Report ID:MRSE - 104928 Pages: 200 Jul-2024 Formats*: PDF Category: Semiconductor and Electronics Delivery: 24 to 72 HoursThe South East Asia Air Conditioners Market is projected to reach $8.66 billion by 2030, at a CAGR of 7.2% during the forecast period 2024–2030. The growth of the South East Asia air conditioners market is driven by soaring temperatures & humidity levels, consumers’ growing inclination toward convenience & comfort, and the rising demand for energy-efficient air conditioners. However, the high costs of air conditioners restrain the growth of the South East 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 have high energy consumption, which limits their adoption. This is a major challenge for market growth. Additionally, connected air conditioners and solar photovoltaic (PV) & solar thermal-assisted air conditioning systems are prominent trends in this market.
Consumers’ Growing Inclination toward Convenience & Comfort Driving the South East Asia Air Conditioners Market
Air conditioners provide comfort and convenience and reduce fatigue by offering users control over ambient temperature and humidity. Air conditioners also help improve indoor air quality and enable users to sleep better, resulting in overall well-being. They reduce exhaustion in work settings, thereby increasing productivity. Leading market players are focused on developing new and improved products to enhance consumer experience. For instance, in April 2022, Mitsubishi Electric Corporation (Japan) developed airflow-control technology for visualizing & analyzing airflow from air-conditioning systems & temperature distribution to offer products that optimize room-wide comfort.
Also, in February 2020, Samsung Electronics Co., Ltd. (South Korea) launched a convertible inverter AC with high durability, energy efficiency, and affordability. Air conditioner manufacturers have also developed smart IoT solutions that allow users to remotely manage their air conditioners’ on & off schedules, adjust temperatures on a single platform, and save electricity without compromising comfort. The development of such products by Asian companies is expected to contribute to the growth of the South East Asia air conditioners market.
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Key Findings in the South East Asia Air Conditioners Market Study:
The Split ACs Segment to Dominate the South East Asia Air Conditioners Market in 2024
Based on type, the South East 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 2024, the split ACs segment is expected to account for the largest share of the South East Asia air conditioners market. Split AC systems are more energy efficient, use less energy, and keep indoor environments clean. The large market share of this segment is attributed to the increasing demand for energy-saving and low-noise air conditioners.
Furthermore, several companies are focused on providing quality air conditioners and launching a wide range of ACs in the market. For instance, in March 2022, Blue Star Ltd (India) launched its range of affordable split ACs with high quality, reliability, and durability. Such developments are driving the sales of split air conditioners in the market.
The Inverter ACs Segment to Account for the Largest Market Share in 2024
Based on technology, the South East Asia air conditioners market is segmented into inverter ACs and non-inverter ACs. In 2024, the inverter ACs segment is expected to account for the larger share of the South East Asia air conditioners market. The large market share of this segment is attributed to advancements in inverter technology and AC manufacturers’ strong focus on product development and enhancement of inverter-powered ACs. For instance, in March 2022, Voltas Limited. (India) launched its PureAir Inverter ACs powered by HEPA filters and PM1.0 sensors to strengthen its portfolio of cooling products and home appliances. Similarly, in February 2022, LG Electronics India Pvt. Ltd. (India) launched its AI dual inverter air conditioners to offer customers superior cooling, maximum energy efficiency, and convenience.
The Residential End Users Segment to Dominate the South East Asia Air Conditioners Market in 2024
Based on end user, the South East Asia air conditioners market is segmented into residential end users, commercial end users, and industrial end users. In 2024, the residential end users segment is expected to account for the largest share of the South East Asia air conditioners market. The large market share of this segment is mainly attributed to the growing acceptance of smart home technologies, construction companies’ increased focus on offering air-conditioned apartments, and the rising need to improve indoor air quality. Moreover, the residential end users segment is also projected to register the highest CAGR during the forecast period.
Based on geography, the South East Asia air conditioners market is segmented into Indonesia, Thailand, Malaysia, Singapore, Vietnam, and the Rest of South East Asia. In 2024, Indonesia is expected to account for the largest share of the South East Asia air conditioners market. The growing demand for air conditioners among the country’s middle-income population, independent households, the public and hospitality sectors, and the increasing production of air conditioners in Indonesia contribute to the country’s large market share. Moreover, Indonesia is also projected to register the highest CAGR during the forecast period.
Key Players:
Some of the key players operating in the South East 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).
Scope of the Report:
South East Asia Air Conditioners Market Assessment, by Type
- Split ACs
- Window ACs
- Centralized/Ducted ACs
- VRF (Variable Refrigerant Flow) Systems
- Portable ACs
South East 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
South East Asia Air Conditioners Market Assessment, by Technology
- Inverter ACs
- Non-inverter ACs
South East Asia Air Conditioners Market Assessment, by Rating
- 1 Star ACs
- 2 Star ACs
- 3 Star ACs
- 4 Star ACs
- 5 Star ACs
South East Asia Air Conditioners Market Assessment, by Geography
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Rest of South East Asia
Key Questions Answered in the Report:
The South East Asia air conditioners market is projected to reach $8.66 billion by 2030, at a CAGR of 7.2% during the forecast period.
The growth of the South East Asia air conditioners market is driven by soaring temperatures & humidity levels, consumers’ growing inclination toward convenience & comfort, and the rising demand for energy-efficient air conditioners.
Some of the key players operating in the South East 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).
The split ACs segment is expected to account for the largest share of the South East Asia air conditioners market.
The 2 tons to 5 tons segment is expected to record the highest CAGR during the forecast period.
The inverter ACs segment is expected to register the higher CAGR during the forecast period.
The 5 Star ACs segment is expected to record the fastest growth during the forecast period.
Based on end user, which segment is expected to grow at the highest CAGR during the forecast period?
The residential end users segment is expected to record the highest CAGR during the forecast period.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecasting
2.3.1. Market Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Soaring Temperature & Humidity Levels
4.2.1.2. Consumers’ Growing Inclination toward Convenience and Comfort
4.2.1.3. Rising Demand for Energy-efficient Air Conditioners
4.2.2. Restraints
4.2.2.1. High Costs of Air Conditioners
4.2.3. Opportunities
4.2.3.1. Rising Adoption of Air Conditioners with Inverter and Air Purification Technologies
4.2.3.2. Technological Advancements in HVAC Systems
4.2.4. Challenges
4.2.4.1. Air Conditioners’ High Energy Consumption
4.3. Market Trends
4.3.1. Connected Air Conditioners
4.3.2. Solar Photovoltaic (PV) & Solar Thermal-assisted Air Conditioning Systems
4.4. Case Studies
4.5. Value Chain Analysis
4.6. Consumer Buying Behavior Analysis
5. South East Asia Air Conditioners Market Assessment—by Type
5.1. Overview
5.2. Window ACs
5.3. Split ACs
5.4. VRF (Variable Refrigerant Flow) Systems
5.5. Centralized/Ducted ACs
5.6. Portable ACs
6. South East Asia Air Conditioners Market Assessment—by Tonnage
6.1. Overview
6.2. Up to 2 Tons
6.3. 2 Tons to 5 Tons
6.4. 5 Tons to 10 Tons
6.5. More than 10 Tons
7. South East Asia Air Conditioners Market Assessment—by Technology
7.1. Overview
7.2. Inverter ACs
7.3. Non-inverter ACs
8. South East Asia Air Conditioners Market Assessment—by Rating
8.1. Overview
8.2. 1 Star ACs
8.3. 2 Star ACs
8.4. 3 Star ACs
8.5. 4 Star ACs
8.6. 5 Star ACs
9. South East Asia Air Conditioners Market Assessment— by End User
9.1. Overview
9.2. Residential
9.3. Commercial
9.4. Industrial
10 South East Asia Air Conditioners Market Assessment— by Country/Region
10.1. Indonesia
10.2. Singapore
10.3. Thailand
10.4. Malaysia
10.5. Philippines
10.6. Vietnam
10.7. Rest of South East Asia
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.3.1. Industry Leaders
11.3.2. Market Differentiators
11.3.3. Vanguards
11.3.4. Emerging Companies
11.4. Vendor Market Positioning
11.5. Market Share Analysis
12. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments)
12.1. Daikin Industries, Ltd.
12.2. Mitsubishi Electric Corporation
12.3. Hitachi-Johnson Controls Air Conditioning
12.4. Carrier Global Corporation
12.5. Whirlpool Corporation
12.6. Haier Smart Home Co., Ltd.
12.7. LG Electronics
12.8. Voltas Limited
12.9. Blue Star Ltd
12.10. Toshiba Corporation
12.11. Panasonic Corporation
12.12. Robert Bosch GmbH
12.13. Fujitsu Limited
12.14. Samsung Electronics Co., Ltd.
12.15. Gree Electric Appliances Inc.
12.16. Midea Group Co. Ltd
(Note: SWOT Analyses of the Top 5 Companies Will Be Provided)
13. Appendix
13.1. Available Customization
13.2. Related Reports
List of Tables
Table 1 Currency Conversion Rates, 2019-2022
Table 2 South East Asia Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 3 South East Asia Air Conditioners Market for Split ACs, by Country/Region, 2021–2030 (USD Million)
Table 4 South East Asia Air Conditioners Market for Window ACs, by Country/Region, 2021–2030 (USD Million)
Table 5 South East Asia Air Conditioners Market for Centralized/Ducted ACs, by Country/Region, 2021–2030 (USD Million)
Table 6 South East Asia Air Conditioners Market for VRF (Variable Refrigerant Flow) Systems, by Country/Region, 2021–2030 (USD Million)
Table 7 South East Asia Air Conditioners Market for Other Air Conditioner Types, by Country/Region, 2021–2030 (USD Million)
Table 8 South East Asia Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 9 South East Asia Up to 2 Ton Air Conditioners Market, by Country/Region, 2021–2030 (USD Million)
Table 10 South East Asia 2 Ton to 5 Ton Air Conditioners Market, by Country/Region, 2021–2030 (USD Million)
Table 11 South East Asia 5 Ton to 10 Ton Air Conditioners Market, by Country/Region, 2021–2030 (USD Million)
Table 12 South East Asia More than 10 Ton Air Conditioners Market, by Country/Region, 2021–2030 (USD Million)
Table 13 South East Asia Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 14 South East Asia Air Conditioners Market for Inverter ACs, by Country/Region, 2021–2030 (USD Million)
Table 15 South East Asia Air Conditioners Market for Non-inverter ACs, by Country/Region, 2021–2030 (USD Million)
Table 16 South East Asia Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 17 South East Asia Air Conditioners Market for 1 Star ACs, by Country/Region, 2021–2030 (USD Million)
Table 18 South East Asia Air Conditioners Market for 2 Star ACs, by Country/Region, 2021–2030 (USD Million)
Table 19 South East Asia Air Conditioners Market for 3 Star ACs, by Country/Region, 2021–2030 (USD Million)
Table 20 South East Asia Air Conditioners Market for 4 Star ACs, by Country/Region, 2021–2030 (USD Million)
Table 21 South East Asia Air Conditioners Market for 5 Star ACs, by Country/Region, 2021–2030 (USD Million)
Table 22 South East Asia Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 23 South East Asia Air Conditioners Market for Residential End Users, by Country/Region, 2021–2030 (USD Million)
Table 24 South East Asia Air Conditioners Market for Commercial End Users, by Country/Region, 2021–2030 (USD Million)
Table 25 South East Asia Air Conditioners Market for Industrial End Users, by Country/Region, 2021–2030 (USD Million)
Table 26 South East Asia Air Conditioners Market, by Country/Region, 2021–2030 (USD Million)
Table 27 Indonesia: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 28 Indonesia: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 29 Indonesia: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 30 Indonesia: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 31 Indonesia: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 32 Singapore: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 33 Singapore: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 34 Singapore: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 35 Singapore: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 36 Singapore: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 37 Thailand: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 38 Thailand: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 39 Thailand: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 40 Thailand: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 41 Thailand: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 42 Malaysia: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 43 Malaysia: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 44 Malaysia: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 45 Malaysia: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 46 Malaysia: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 47 Vietnam: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 48 Vietnam: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 49 Vietnam: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 50 Vietnam: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 51 Vietnam: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 52 Rest of South East Asia: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 53 Rest of South East Asia: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 54 Rest of South East Asia: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 55 Rest of South East Asia: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 56 Rest of South East Asia: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 57 Recent Developments by Major Market Players (2020–2024)
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 Key Insights
Figure 8 South East Asia Air Conditioners Market, by Type, 2024 Vs. 2030 (USD Million)
Figure 9 South East Asia Air Conditioners Market, by Tonnage, 2024 Vs. 2030 (USD Million)
Figure 10 South East Asia Air Conditioners Market, by Technology, 2024 Vs. 2030 (USD Million)
Figure 11 South East Asia Air Conditioners Market, by Rating, 2024 Vs. 2030 (USD Million)
Figure 12 South East Asia Air Conditioners Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 13 Impact Analysis of Market Drivers, Restraints, Opportunities, and Challenges
Figure 14 Consumer Buying Behavior Analysis
Figure 15 South East Asia Air Conditioners Market, by Type, 2024 Vs. 2030 (USD Million)
Figure 16 South East Asia Air Conditioners Market, by Tonnage, 2024 Vs. 2030 (USD Million)
Figure 17 South East Asia Air Conditioners Market, by Technology, 2024 Vs. 2030 (USD Million)
Figure 18 South East Asia Air Conditioners Market, by Rating, 2024 Vs. 2030 (USD Million)
Figure 19 South East Asia Air Conditioners Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 20 South East Asia Air Conditioners Market, by Geography, 2024 Vs. 2030 (USD Million)
Figure 21 Growth Strategies Adopted by Leading Market Players (2020–2024)
Figure 22 Competitive Dashboard: Air Conditioners Market
Figure 23 Vendor Market Positioning Analysis (2020–2024)
Figure 24 Market Share Analysis: Air Conditioners Industry
Figure 25 Daikin Industries, Ltd.: Financial Overview
Figure 26 Mitsubishi Electric Corporation: Financial Overview
Figure 27 Johnson Controls International plc: Financial Overview
Figure 28 Carrier Global Corporation: Financial Overview
Figure 29 Whirlpool Corporation: Financial Overview
Figure 30 Haier Smart Home Co. Ltd.: Financial Overview
Figure 31 LG Electronics: Financial Overview
Figure 32 Voltas Limited: Financial Overview
Figure 33 Panasonic Corporation: Financial Overview
Figure 34 Robert Bosch GmbH: Financial Overview
Figure 35 Samsung Electronics Co., Ltd.: Financial Overview
Figure 36 Fujitsu Limited: Financial Overview
Figure 37 Blue Star Ltd.: Financial Overview
Figure 38 Toshiba Corporation: Financial Overview
Figure 39 Gree Electric Appliances Inc.: Financial Overview
Figure 40 Midea Group Co. Ltd: Financial Overview
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