In spite of the political turmoil and recent international tensions, the economic outlook still looks good with rising GDP expected for the next few years. Government plans for wide scale construction and infrastructure projects are still on course, although the timing has been set back by the two elections in 2015.
The chiller market fell by 4% in 2015 as a consequence of recent events but is forecast to start its recovery from 2017 and the outlook up to 2020 is promising. The value in 2015 was around US$ 93 million and for 2016 will be in the region of US$ 90 million. In terms of numbers, sales in 2015 were some 1,700 units and in 2016 should be around 1,600 units. Succeeding years are expected to show a steady recovery towards US$ 105 million by 2020. VRF is the main challenge in small/ medium size air conditioning systems using scroll chillers partly be-cause VRF system suppliers offer a complete design service.