Home Appliance Market in Thailand Sees Intense Competition
Thailand: The home appliance market in Thailand, valued between THB 220 billion and THB 240 billion (USD 6.1 billion to USD 6.7 billion), is experiencing strong competition, particularly in the air-conditioner segment. Brands are accelerating sales efforts despite cooler weather, driven by factors such as the government's Easy E-Receipt 2.0 programme, which encourages purchases through tax deductions, and concerns over PM2.5 air pollution. TCL has secured the leading position in Thailand’s air-conditioner market, achieving sales of THB 8 billion (USD 222 million) in 2024 and targeting THB 10 billion (USD 277 million) for the year. The company has increased its marketing budget by 40% and aims to sell 500,000 air-conditioning units. Haier is also expanding its market presence, targeting sales of THB 14 billion (USD 388 million) in 2025, up from THB 11 billion (USD 305 million) in 2024. The company is investing THB 10 billion (USD 277 million) in a new manufacturing facility in Chonburi, expected to begin operations in October, with an initial production capacity of 3 million air-conditioners per year, mainly for export.
Toshiba has outlined plans to expand its home appliance business in Thailand, increasing its marketing budget to 14% of revenue and targeting 25% sales growth. The company is investing THB 5 billion (USD 138 million) in a new air-conditioner factory in Chonburi, aiming to strengthen its market position. Mitsubishi Electric expects stable sales growth despite economic challenges, maintaining a 30% share in the residential air-conditioner market. The company anticipates the air-conditioner market to grow by 5% in 2024, supported by demand from tourism, hotels, and data centres, and has allocated a THB 1.2 billion (USD 33 million) marketing budget focused on digital channels. The overall home appliance market in Thailand is valued at THB 83 billion (USD 2.3 billion), with major appliances accounting for THB 65 billion (USD 1.8 billion) and small appliances THB 18 billion (USD 500 million). The market is projected to expand further, with brands adopting competitive pricing and marketing strategies to capture market share.
Source: Nation Thailand