The import of air conditioning equipment and machinery to the Philippines saw a value of 533.69 million USD in 2024, with forecasted increases to 555.91 million USD in 2025, 577.69 million USD in 2026, 599.03 million USD in 2027, and 619.95 million USD in 2028. Comparing the year-on-year variations, the import values are increasing steadily:
- 2024 to 2025: 4.17%
- 2025 to 2026: 3.93%
- 2026 to 2027: 3.70%
- 2027 to 2028: 3.50%
Over the last two years leading up to the forecasted period, the import value has grown, showing a robust and consistent upward trend. The Compound Annual Growth Rate (CAGR) over the five years from 2023 to 2028 stands at 3.82%. This reflects a healthy growth trajectory, indicating increasing demand for air conditioning equipment and machinery in the Philippines.
Future trends to watch for include potential impacts of technological advancements in air conditioning efficiency, fluctuations in energy prices, and changes in environmental regulations. Additionally, economic factors such as GDP growth and household income levels will influence the import dynamics of this sector.