Thailand Air Conditioner Market, By Product Type, By Region, Competition, Forecast & Opportunities, 2015-2027

Thailand Air Conditioners Market is Expected to Reach USD 1381.12 Million in 2021, Growing at a CAGR of 5.23% During the Forecast Period.

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.

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.

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, the publisher offers customizations according to a company’s specific needs.