No longer to be seen as a failing economy Spain recorded growth in GDP of 3.2% in 2015. Construction output will finally become positive at a 4.3% growth in 2016 after years of recession.
This is good news for the central plant market which is largely dependent on new construction. EU Directives for higher efficiency equipment will continue to boost the replacement and refurbishment sectors.
Chiller sales in 2015 were an improvement on the preceding year rising to 5,700 units (from 4,800 in 2014), although this was not reflected in value which at US$ 84 million was 5% less than in 2014. The difference is attributed to movements in the euro/U.S. dollar exchange rates.
At the moment, small scroll units account for over three quarters of chiller sales. This is mainly because most of the demand is in replacement/refurbishment but the ratio will change as new construction starts to make an impact. Over 90% of the market is currently supplied from imports and this ratio is not likely to change in the near future particularly with the recent exit of Termoven who were significant local manufacturers. Brand leaders across the range include Carrier, Climaveneta, Trane, JCI, and, McQuay (Daikin) who control two thirds of the market.