PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463797
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463797
Southeast Asia HVAC Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The Southeast Asia HVAC market was valued at USD 20.8 billion in 2023, and will rise to USD 33.0 billion, powering at more than 6.5% compound annual growth rate, by 2030.
The flourishing hospitality sector is a major factor boosting the growth of this regional industry. Because of the existence of heritage places and beaches, this region is among the top spots for tourists.
It is chosen as it is cheaper compared to various other destinations, particularly those in North America and Europe.
Various nations are withdrawing the travel limitations employed during the COVID-19 pandemic and encouraging tourism.
Thailand's government planned to revise immigration guidelines to make it suitable for long-term tourists to stay in the nation, as part of a tactic to increase funding and tourism profits.
A major trend being observed in this industry is the acceptance of energy-efficient as well as smart HVAC systems. They are becoming increasingly prevalent as they utilize less power than traditional systems, which decreases the greenhouse gas releases from fossil-fuel-based power plants.
Energy Star-qualified HVAC systems also reduce power expenses.
To decrease power consumption and enhance system effectiveness, many customers are selecting smart HVAC systems. These systems provide greater Internet of Things (IoT)-incorporated controls, enhanced real-time performance monitoring, and building automation.
Market Analysis
The cooling type is likely to advance at the highest compound annual growth rate, of 7.4%, in the years to come, and hold the largest industry share. This can be because of the regional climate conditions, which are characterized by hot & humid summers.
Such weather situations generate robust demand for room ACs, split units, ducted splits, and VRF systems, thus boosting the growth of this category.
With the increasing salary, affordability will rise and result in a significant surge in the requirement for ACs.
The commercial end-user was the largest contributor to the industry in 2023, with approximately 50% share. This is primarily because of the increasing count of commercial offices and buildings and the flourishing hospitality industry.
Tourism activities in this region are on the rise, which results in high funding for associated infrastructure like hotels, entertainment centers, and airports.
The residential end user is likely to propel at the highest compound annual growth rate, of 7.5%, in the years to come. This is primarily because of the rise in the count of residential building projects in this region.
Indonesia accounted for the largest share of the industry in 2023, of approximately 30%. The largest share of the nation can be ascribed to the increasing count of commercial buildings along with its power-saving rule, which is making individuals change their traditional HVAC appliances with power-efficient ones.
The Southeast Asia HVAC industry is fragmented in nature, with the existence of a mix of local, regional, and global HVAC systems providers. The region caters to a range of income levels, with a requirement for both budget-friendly and high-end technology solutions.
Players in this industry are involving themselves in product introductions as well as acquisitions to enhance their presence in the market.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by end user
- 1.4.3. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Indonesia Market
- 6.1. Overview
- 6.2. Market Revenue, by Type (2017-2030)
- 6.2.1. Heating market revenue, by type (2017-2030)
- 6.2.2. Ventilation market revenue, by type (2017-2030)
- 6.2.3. Cooling market revenue, by type (2017-2030)
- 6.3. Market Revenue, by End User (2017-2030)
- 6.3.1. Commercial market revenue, by type (2017-2030)
- 6.3.2. Industrial market revenue, by type (2017-2030)
Chapter 7. Thailand Market
- 7.1. Overview
- 7.2. Market Revenue, by Type (2017-2030)
- 7.2.1. Heating market revenue, by type (2017-2030)
- 7.2.2. Ventilation market revenue, by type (2017-2030)
- 7.2.3. Cooling market revenue, by type (2017-2030)
- 7.3. Market Revenue, by End User (2017-2030)
- 7.3.1. Commercial market revenue, by type (2017-2030)
- 7.3.2. Industrial market revenue, by type (2017-2030)
Chapter 8. Vietnam Market
- 8.1. Overview
- 8.2. Market Revenue, by Type (2017-2030)
- 8.2.1. Heating market revenue, by type (2017-2030)
- 8.2.2. Ventilation market revenue, by type (2017-2030)
- 8.2.3. Cooling market revenue, by type (2017-2030)
- 8.3. Market Revenue, by End User (2017-2030)
- 8.3.1. Commercial market revenue, by type (2017-2030)
- 8.3.2. Industrial market revenue, by type (2017-2030)
Chapter 9. Malaysia Market
- 9.1. Overview
- 9.2. Market Revenue, by Type (2017-2030)
- 9.2.1. Heating market revenue, by type (2017-2030)
- 9.2.2. Ventilation market revenue, by type (2017-2030)
- 9.2.3. Cooling market revenue, by type (2017-2030)
- 9.3. Market Revenue, by End User (2017-2030)
- 9.3.1. Commercial market revenue, by type (2017-2030)
- 9.3.2. Industrial market revenue, by type (2017-2030)
Chapter 10. Singapore Market
- 10.1. Overview
- 10.2. Market Revenue, by Type (2017-2030)
- 10.2.1. Heating market revenue, by type (2017-2030)
- 10.2.2. Ventilation market revenue, by type (2017-2030)
- 10.2.3. Cooling market revenue, by type (2017-2030)
- 10.3. Market Revenue, by End User (2017-2030)
- 10.3.1. Commercial market revenue, by type (2017-2030)
- 10.3.2. Industrial market revenue, by type (2017-2030)
Chapter 11. Philippines Market
- 11.1. Overview
- 11.2. Market Revenue, by Type (2017-2030)
- 11.2.1. Heating market revenue, by type (2017-2030)
- 11.2.2. Ventilation market revenue, by type (2017-2030)
- 11.2.3. Cooling market revenue, by type (2017-2030)
- 11.3. Market Revenue, by End User (2017-2030)
- 11.3.1. Commercial market revenue, by type (2017-2030)
- 11.3.2. Industrial market revenue, by type (2017-2030)
Chapter 12. South Korea Market
- 12.1. Overview
- 12.2. Market Revenue, by Type (2017-2030)
- 12.2.1. Heating market revenue, by type (2017-2030)
- 12.2.2. Ventilation market revenue, by type (2017-2030)
- 12.2.3. Cooling market revenue, by type (2017-2030)
- 12.3. Market Revenue, by End User (2017-2030)
- 12.3.1. Commercial market revenue, by type (2017-2030)
- 12.3.2. Industrial market revenue, by type (2017-2030)
Chapter 13. Cambodia Market
- 13.1. Overview
- 13.2. Market Revenue, by Type (2017-2030)
- 13.2.1. Heating market revenue, by type (2017-2030)
- 13.2.2. Ventilation market revenue, by type (2017-2030)
- 13.2.3. Cooling market revenue, by type (2017-2030)
- 13.3. Market Revenue, by End User (2017-2030)
- 13.3.1. Commercial market revenue, by type (2017-2030)
- 13.3.2. Industrial market revenue, by type (2017-2030)
Chapter 14. Myanmar Market
- 14.1. Overview
- 14.2. Market Revenue, by Type (2017-2030)
- 14.2.1. Heating market revenue, by type (2017-2030)
- 14.2.2. Ventilation market revenue, by type (2017-2030)
- 14.2.3. Cooling market revenue, by type (2017-2030)
- 14.3. Market Revenue, by End User (2017-2030)
- 14.3.1. Commercial market revenue, by type (2017-2030)
- 14.3.2. Industrial market revenue, by type (2017-2030)
Chapter 15. Competitive Landscape
- 15.1. List of Market Players and their Offerings
- 15.2. Competitive Benchmarking of Key Players
- 15.3. Product Benchmarking of Key Players
- 15.4. Recent Strategic Developments
Chapter 16. Company Profiles
- 16.1. Daikin Industries Ltd.
- 16.1.1. Business overview
- 16.1.2. Product and service offerings
- 16.1.3. Key financial summary
- 16.2. Panasonic Corporation
- 16.2.1. Business overview
- 16.2.2. Product and service offerings
- 16.2.3. Key financial summary
- 16.3. Midea Group Co. Ltd.
- 16.3.1. Business overview
- 16.3.2. Product and service offerings
- 16.3.3. Key financial summary
- 16.4. Carrier Global Corporation
- 16.4.1. Business overview
- 16.4.2. Product and service offerings
- 16.4.3. Key financial summary
- 16.5. Johnsons Controls International PLC
- 16.5.1. Business overview
- 16.5.2. Product and service offerings
- 16.5.3. Key financial summary
- 16.6. Samsung Electronics Co. Ltd.
- 16.6.1. Business overview
- 16.6.2. Product and service offerings
- 16.6.3. Key financial summary
Chapter 17. Appendix
- 17.1. Abbreviations
- 17.2. Sources and References
- 17.3. Related Reports
