Thai AC Market Booming Again

Sales of room air conditioners (RACs) and packaged air conditioners (PACs) in Thailand reached about 1.3 million units in 2019. However, in 2022, sales fell to 1 million units due to factors such as the decline in purchasing power caused by the recent pandemic. Then, in 2023, the RAC segment recovered, recording double-digit year-on-year growth, driven by real estate demand and a hot summer. This year, the RAC market in Thailand is reported to have gotten off to a good start too, thanks to extreme heat. Such a good market performance is expected to continue in the future, and the RAC and PAC market scale will possibly recover to 1.3 million units within a few years.