Electronics giants Mitsubishi Electric Corp. and Panasonic Corp. are ramping up sales for greater slices of the pie in the Thai air conditioner market, aiming to cash in on growing demand for energy saving products equipped with an inverter function.

The Mitsubishi unit, commanding a market share of over 30 percent in Thailand last year, will leverage reduced sales by enhancing midrange inverter-controlled products this year, while Panasonic continues to promote high-end inverter models to boost its share to 23 percent in 2018, up 2 percentage points from the previous year, according to their local arms.

Praphon Potivorakun, deputy managing director of Mitsubishi Electric Kang Yong Watana Co., said the air conditioner market "dropped by 10 percent" in 2017.