Thailand's import of parts for air conditioners has shown a consistent growth trend from 2013 to 2023. During this period, the value increased steadily from $207.26 million in 2013 to $322.83 million in 2023. Noteworthy annual variations were observed, such as a significant increase in 2016 (12.08%) and a more moderate growth in 2020 (-1.03%). The past five years averaged an annual growth rate (CAGR) of 3.67%, indicating a steady rise in the import volume.
The forecast for the next five years (2024-2028) suggests a continued upward trend with a forecasted CAGR of 2.56%, projecting the import value to reach $379.96 million by 2028, marking a 13.48% growth over this period. This forecasted growth indicates sustained demand for air conditioner parts in Thailand.
Future trends to watch for:
- Improvement in air conditioning technology potentially increasing the demand for advanced parts.
- Trade policies and their impact on import tariffs and the overall cost of air conditioner parts.
- Evolving consumer preferences towards energy-efficient and eco-friendly air conditioning solutions.
- Economic factors, including currency fluctuations and inflation, affecting the import volumes and values.