Research Report on Southeast Asia Air Conditioning Industry 2023-2032

Research Report on Southeast Asia Air Conditioning Industry 2023-2032

Southeast Asian countries are located in the tropics, with high temperatures throughout the year and a hot climate, which is suitable for the use of air conditioning scenarios. At the same time, economic growth in Southeast Asia is strong, and residents' disposable income has increased, raising consumption levels, and demand for air conditioning will grow rapidly. Currently, the overall penetration rate of air conditioning in the 10 Southeast Asian countries is low, with great potential for future development.

Southeast Asia has cheap labor, lower land costs and preferential policy subsidies, attracting global air conditioning manufacturers to invest in Southeast Asia to build factories. In Vietnam, for example, Japan's Daikin Industries, Ltd. invested 10 billion yen in Hanoi, Vietnam to build a factory with an annual capacity of 1 million sets of air conditioners, and South Korea's LG Electronics also built an air conditioning production plant in Hai Phong, and Chinese brands such as Haier also have air conditioning factories in Vietnam.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.

CRI expects the air conditioning industry in Southeast Asia to maintain growth from 2023-2032. On the one hand, the local market is rich in potential due to the economic development and gradually increasing penetration of air conditioning in Southeast Asia. On the other hand, global air conditioning manufacturers will shift their production capacity to Southeast Asia and export to the global market, further driving the development of Southeast Asia's air conditioning industry.

Topics covered:

• Southeast Asia Air Conditioning Industry Status and Major Sources in 2018-2022 
• What is the Impact of COVID-19 on Southeast Asia Air Conditioning Industry?
• Which Companies are the Major Players in Southeast Asia Air Conditioning Industry Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in Southeast Asia Air Conditioning Industry
• What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Air Conditioning Industry during 2023-2032?
• What is the Expected Revenue of Southeast Asia Air Conditioning Industry during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in Southeast Asia Air Conditioning Industry Market?
• Which Segment of Southeast Asia Air Conditioning Industry is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing Southeast Asia Air Conditioning Industry?