The current economic outlook is positive with growth in GDP at 1.1% in 2015 and 1.5% in 2016. Construction activity will also be reestablished in 2016.
The total chiller market in 2015 was estimated at US$ 125 million and will be relatively unchanged in 2016. In terms of numbers this corresponds to about 7,500 units in 2015 and in 2016. Sales fell in 2014/2015, even though the market should have benefited from a rise in demand for new plant following the phase out of R22. Replacement and refurbishment projects have become the principal sales route for most chillers being sold today. Also, the future possibility of a shortage of R410A created by the quota system may decide some operators to install new equipment. Chillers face keen competition from VRF systems up to 200 kW.