Singapore is calling for diversification of energy applications and uses liquid natural gas (LNG) for electricity generation. Singapore encourages green buildings as a way to reduce carbon emissions. As a talent and logistics hub in Asia, Singapore is also where many multinational corporations locate their headquarters. Many Japanese companies are setting up Asian regional headquarters in Singapore to strengthen their Asian operations as the region becomes a larger part of their overall business.
There is high demand for screw and scroll chillers in the market, with low demand for centrifugal chillers. Water-cooled chillers are the main type.
Trane, York, and Carrier lead the market. Climaveneta is also active in the market.