Growing disposable income, affordable product availability and increasing technological advancements to drive Malaysia air conditioner market during forecast period
According to TechSci Research report, “Malaysia Air Conditioner Market By Product Type (Splits, VRFs, Chillers, Windows, and Others (Portable, Floor Standing, etc.)), By End Use Sector (Residential Vs Commercial/Industrial), By Region, Competition, Forecast & Opportunities, 2026”, Malaysia air conditioners market was valued USD 728.52 Million in 2020 and is projected to reach USD 942.76 Million by 2026. Tourism and hospitality is one of the crucial sector contributing to the GDP of the country. Increase in number of hotels and resorts in line with booming tourism industry are positively impacting the demand of split and VRF and therefore, driving the Malaysis air conditioner market. Increasing disposable income, wide variety of product offerings by leading companies are some of the key factors responsible for the growth of air conditioner market in Malaysia., and innovations of the latest technologies. Additionally, improving living standards and changing temperature levels are augmenting demand for air conditioners in the residential sector, which will further drive the air conditioner market in Malaysia during the forecast period.
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Malaysia air conditioners market is segmented based on product type, end-use and region. Based on product type, air conditioners market in Malaysia is segmented into Splits, VRFs, Chillers, Windows, and Others ((Portable, Floor Standing, etc.). As of 2020, Split type air conditioner category held the largest share in Malaysia air conditioners market and the trend is expected to continue over the next five years. Besides, due to expanding commercial space, there is an increasing demand for VRFs and chiller type air conditioners. In 2020, residential air conditioner end-use segment held the largest market share in Malaysia air conditioners market due to increasing population and rising household expenditure of middle-income families.
Based on the region, Malaysia air conditioner market is segmented into Central Region, East Region, Northern Region, East Coast Region, and Southern Region. Until 2020, Central region accounted for the largest market share in Malaysia air conditioners market, followed by East and Northern regions.
Daikin Malaysia Sdn. Bhd, Midea Scott & English Electronics Sdn Bhd, Haier Electrical Appliances (M) Sdn. Bhd., Hitachi Sales (Malaysia) Sdn., Mitsubishi Electric Sales Malaysia Sdn. Bhd., Samsung Malaysia Electronics (SME) Sdn, Panasonic Malaysia Sdn Bhd., LG Electronics (M) Sdn. Bhd., Carrier (Malaysia) Sdn. Bhd., Sharp Electronics (Malaysia) Sdn. Bhd. are among the leading air conditioner players operating in Malaysia. Many companies have increased their presence on online channels on the back of rising sales from e-commerce platforms. Websites such as Iprice, Lazada, Shopee, etc., offer a wide variety of air conditioners online, which is further driving and setting up a new trend in Malaysia air conditioners market.
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“Malaysia air conditioner market is witnessing growth due to increasing product affordability, latest technologies attracting consumers and companies also spending more on research & development than before. For instance, on account of growing concerns over increasing air pollution, air conditioner majors like Sharp, Panasonic have introduced air conditioners with air purification functionality. Besides, consumers are increasingly looking for a better product, especially energy-efficient air conditioners. Consumers are willing to spend more for getting their hands on the best technologies available in the market. Also, increasing industrialization and rising demand for air conditioner at commercial spaces will further drive the country’s air conditioner market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Malaysia Air Conditioner Market By Product Type (Splits, VRFs, Chillers, Windows, and Others (Portable, Floor Standing, etc.)), By End Use Sector (Residential Vs Commercial/Industrial), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of Malaysia air conditioners market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges, and opportunities in the Malaysia air conditioners market.
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