Global AC Market Pressurized by Inflation Hopes for Growth in Rest of the Year — Review of Global AC Market in the First Half of 2023 — Southeast Asia

In the first half of 2023, the Southeast Asian RAC market recorded high single-digit growth compared with the same period of last year. Its PAC and VRF markets also showed upward trends. The Southeast Asian air conditioner market this year can be said to have performed relatively well compared with other regions of the world.
As inflation progressed, the demand focus in the Southeast Asian RAC market is shifting from highend to low-end models. Along with this trend, price-competitive products from Chinese manufacturers with large-scale production capacities are expanding their market shares.