Increasing disposable income, affordable product availability, commercial space expansion and latest technologies to drive Thailand air conditioner market
According to TechSci Research report, “Thailand Air Conditioners Market By Product Type, By End User, By Region, By Company, Competition, Forecast & Opportunities 2025”, Thailand air conditioners market is forecast to cross $ 3 billion by 2025 on account of expanding population and rising disposable income of consumers. Moreover, advancements in product technology and availability of various well-known brands have been positively influencing the market. Besides, consumer shift towards better quality, performance and features will further drive demand for air conditioners in Thailand during the forecast period. Furthermore, hot weather and increasing product affordability of middle-income customers and growing popularity towards energy-efficient air conditioner will propel the market in the coming years. With air conditioners becoming one of the necessary products in Thai households coupled with spread of COVID-19, the trend of buying air conditioners online is gaining strength in the country.
Based on the product type, Thailand air conditioner market is segmented into (Splits, VRFs, Chillers, Windows, and Others ((Portable, floor etc.). As of 2019, Split type air conditioner category held the largest share in the Thailand air conditioners market. In addition, companies are also increasingly manufacturing energy-efficient and affordable air conditioners to fulfil the demand for the residential segment. Furthermore, Chiller type air conditioner segment holds the second largest market share in value terms in Thailand air conditioners market due to increasing commercial space.
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Thailand air conditioners market is further segmented based on end use sector. In 2019, the residential air conditioner end user segment held the largest market share in Thailand air conditioners market due to growing population and increasing residential real estate construction. In addition, availability of easy financing options is boosting the growth of air conditioners market in the country. Furthermore, small offices and shops are also opting for the residential air conditioner as the installation of a commercial air conditioner involves a lot higher investment, which not everyone can afford. However, VRFs and chiller type air conditioners are highly opted and suitable for big commercial spaces such as factories, offices, and institutions due to their higher cost-efficiency.
Based on the region, Thailand air conditioner market is segmented into Northern Thailand, Eastern Thailand, North East Thailand, Southern Thailand, Western Thailand, Central Thailand. Until 2019, North Thailand held the largest market share and this trend is expected to continue through the forecast period. Some of the leading players in Thailand air conditioner market include Daikin Industries (Thailand) Limited, Mitsubishi Electric Consumer Products (Thailand) Co.,Ltd, Panasonic (Thailand) Co.,Ltd., Midea Refrigeration Equipment (Thailand) Co., Ltd., Thai Samsung Electronics Co., Ltd, LG Electronics (Thailand) Co.,Ltd., Sharp Thai Co., Ltd, Hitachi Sales (Thailand), Ltd, Haier Electrical Appliances (Thailand) Co., Ltd., Carrier (Thailand) Co., Ltd., Toshiba Carrier (Thailand) Co., Ltd. among others.
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“Air conditioners market is growing in Thailand due to rising demand from both residential and commercial sectors. Consequently. leading brands are also rapidly trying to capture the customer base from both the sectors. Market players are increasing their focus on providing the latest technologies and features for attracting the costumers in addition to offering smooth after-sale services.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Thailand Air Conditioners Market By Product Type, By End User, By Region, By Company, Competition, Forecast & Opportunities 2025 ” has evaluated the future growth potential of Thailand Air Conditioners market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Thailand air conditioners market.