Product Code: ETC016965 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Thailand is one of the world???s most attractive markets for warm air heating and air conditioning (HVAC) due to its tropical climate. The market in Thailand has been growing steadily over the years, with a compound annual growth rate (CAGR) of 7.2% from 2015-2025. The market size reached THB 16 billion in 2025, up from THB 11 billion in 2015. The demand for HVAC products is driven mainly by residential buildings such as apartments and condominiums, public offices, commercial buildings such as retail stores and shopping malls, educational institutions such as universities and schools, healthcare facilities like hospitals and clinics etc., which have increased significantly over the past decade or so.
The primary driver of growth in Thailand warm air heating and air conditioning market is the increasing urbanization across major cities like Bangkok which drives an increase in construction activities leading to higher demand for HVAC products. Additionally, rising disposable income amongst consumers encourages them to invest more on home comforts such as AC units resulting further boost to industry growth prospects. Further favorable government initiatives such as tax incentives are also expected to propel growth going forward into 2031 period.
One key challenge facing this industry is posed by high competition among manufacturers which leads to squeezed profit margins leaving little room for innovation or investment into research & development activities towards product improvements thus retarding overall sectoral progressiveness.. Furthermore there are certain EHS regulations imposed by the Thailand government on refrigerants used within these systems that need careful consideration while manufacturing these products else heavy fines may be levied upon non-compliances thereby affecting business sustainability at large scale basis.
Due to outbreak of COVID19 pandemic during year 2024-21, it has adversely impacted global economies including Thailand.This has caused disruption across entire value chain starting from supply shortage all way till end user consumption level.As result majority of companies faced financial losses due capacity utilization cuts / closure of production facilities.Despite some recovery seen post mid 2025, however still situation remains far off than pre covid levels .
Major players operating within this space include Daikin Industries Ltd., Gree Electric Appliances Inc., Mitsubishi Electric Corp., Panasonic Corp., Toshiba Carrier Corporation, LG Electronics Inc., Johnson Controls International PLC etc.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Warm Air Heating and Air Conditioning Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Warm Air Heating and Air Conditioning Market - Industry Life Cycle |
3.4 Thailand Warm Air Heating and Air Conditioning Market - Porter's Five Forces |
3.5 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume Share, By Components, 2021 & 2031F |
3.6 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Thailand Warm Air Heating and Air Conditioning Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Warm Air Heating and Air Conditioning Market Trends |
6 Thailand Warm Air Heating and Air Conditioning Market, By Types |
6.1 Thailand Warm Air Heating and Air Conditioning Market, By Components |
6.1.1 Overview and Analysis |
6.1.2 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Components, 2021-2031F |
6.1.3 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Sensors, 2021-2031F |
6.1.4 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Controllers & Constrolled Devices, 2021-2031F |
6.2 Thailand Warm Air Heating and Air Conditioning Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Residential, 2021-2031F |
6.2.3 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Commercial, 2021-2031F |
6.2.4 Thailand Warm Air Heating and Air Conditioning Market Revenues & Volume, By Industrial, 2021-2031F |
7 Thailand Warm Air Heating and Air Conditioning Market Import-Export Trade Statistics |
7.1 Thailand Warm Air Heating and Air Conditioning Market Export to Major Countries |
7.2 Thailand Warm Air Heating and Air Conditioning Market Imports from Major Countries |
8 Thailand Warm Air Heating and Air Conditioning Market Key Performance Indicators |
9 Thailand Warm Air Heating and Air Conditioning Market - Opportunity Assessment |
9.1 Thailand Warm Air Heating and Air Conditioning Market Opportunity Assessment, By Components, 2021 & 2031F |
9.2 Thailand Warm Air Heating and Air Conditioning Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 Thailand Warm Air Heating and Air Conditioning Market - Competitive Landscape |
10.1 Thailand Warm Air Heating and Air Conditioning Market Revenue Share, By Companies, 2024 |
10.2 Thailand Warm Air Heating and Air Conditioning Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |