The Malaysian Air Conditioner Market is projected to witness a CAGR of more than 11% during 2021 – 2025, and thereby, surpass $1.3 billion by 2025.
Anticipated growth in the market is attributed to expanding population, growing disposable income, and increasingly affordable product offerings. Also, due to the increasing product offerings at the e-commerce platforms and easy financing schemes are boosting the use of air conditioners among lower middle class and middle-class income families in Malaysia.
Moreover, the rising demand from the commercial sector is also driving the country’s air conditioner market. Additionally, changing climatic conditions and construction of inbuilt air conditioner and energy-efficient buildings are the other factors expected to drive the Malaysian Air Conditioner Market during forecast period.
Based on the product type, the Malaysian Air Conditioner Market is segmented into Splits, VRFs, Chillers, Windows, and Others (Portable, Floor Standing, etc.). As of 2019, Split type air conditioner category held the largest share in the Malaysian Air Conditioner Market and this trend is expected to continue in the coming years.
Based on the region, the Malaysian Air Conditioner Market is bifurcated into Central Region, East Region, Northern Region, East Coast Region, and Southern Region. Until 2019, Central Region accounted for the largest market share in the Malaysian Air Conditioner Market due to its better living standards, urbanization and increasing population. However, other regions are expected to witness faster growth in the coming years during the forecast period.
Based on the End-Use segmentation, the Malaysian Air Conditioner Market is categorized into the Residential Sector and Commercial/Industrial Sector. Residential air conditioner segment garnered the maximum share in the Malaysian Air Conditioner Market due to rapidly growing population, household expenditure and income levels of the middle-class population. However, VRFs and chiller type air conditioner are also witnessing higher demand from the big commercial spaces such as malls, offices, and institutions due to higher energy efficiency.
18. Competitive Landscape
18.1. Company Profiles
18.1.2. Daikin Malaysia Sdn. Bhd
18.1.3. Midea Scott & English Electronics Sdn Bhd
18.1.4. Haier Electrical Appliances (M) Sdn. Bhd.
18.1.5. Hitachi Sales (Malaysia) Sdn.
18.1.6. Mitsubishi Electric Sales Malaysia Sdn. Bhd.
18.1.7. Samsung Malaysia Electronics (SME) Sdn
18.1.8 Panasonic Malaysia Sdn Bhd.
18.1.9. LG Electronics (M) Sdn. Bhd.
18.1.10 Carrier (Malaysia) Sdn. Bhd.
18.1.11. Sharp Electronics (Malaysia) Sdn. Bhd