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2.3 S.E. ASIA
2018/01/21
According to the IMF, GDP growth rates in 2017 in major Southeast Asian countries other than the Philippines showed an increase compared with 2016. Growth in Thailand increased to 3.7% in 2017 from 3.2% in 2016, Malaysia increased to 5.4% from 4.2%, Singapore increased to 2.5% from 2.0%, Vietnam increased to 6.3% from 6.2%, and Myanmar increased to 7.2% from 6.1%, while only the Philippines slightly decreased to 6.6% from 6.9%.
 
In 2017, the total air conditioner market of seven major countries in Southeast Asia, namely Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam decreased by 9.2% to 7.9 million units, due mainly to unfavorable weather. The RAC market scale was 7.5 million units, indicating a 9.1% year-on-year decrease. The PAC market reached 356,000 units, showing a 10.4% year-on-year decrease. It is estimated that market demand for air conditioners may hit 15 million units by 2020.
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