With exports of non-inverter air conditioners on a decline trend over the past year, Thailand has the opportunity to benefit
from the increased demand for general inverter air conditioners in emerging countries. However going forward, in addition to its original competitor China, Thailand
may face competition from new competitors like Vietnam, as Japanese
air conditioner manufacturers that formerly
use Thailand as their main production base in the region have
invested in Vietnam since mid-2018, and have opened production lines for general inverter air conditioners. At the first phase, these production lines focus on
domestic market in Vietnam which emphasize on energy
saving, and will expand capacity for exports after the recovery of global
economy.
The start-up of the production
lines in Vietnam will inevitably affect Thai air
conditioner exports, which
should only affect Thai air conditioner exports to Vietnam in less than 2 years. KResearch predicts that the production
capacity of general inverter
air conditioner in Vietnam will
increase from 500,000 units today to about 5 million
units in 2025, which will put further pressure on the export volume of general inverter air
conditioners from Thailand.
To
leave the competitors behind, Thailand needs to adapt by attracting investment in
the production of Internet-connected smart IoT (Internet of Thing) inverter air
conditioners, which require higher-end production technology and are in
continuous demand in developed countries, to compensate for the declining
demand for non-inverter air conditioners. In the long term, this will cater to
the transition to the era of IoT, and will enhance Thailand's position as still
the world’s leading producer of air conditioners in the future.
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