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2.7 SE ASIA -- The Philippines
2017/11/26
The Philippine chiller market reached US$ 44.6 million in 2016, recording a small decrease of 1.8%. The centrifugal segment accounted for nearly two-thirds of the total market and showed a decrease of 1.0%, dropping to US$ 28.1 million.
 
Despite the stagnant situation in 2016, the Philippine chiller market has a large potential, thanks to the booming construction in the country. According to data from Cushman & Wakefield and Jones Lang LaSalle Philippines, 25,000 condominium units will be built in Manila over the next two years, which is twice the total number of units built in the last 40 years. At least 15,741 additional hotel rooms are scheduled to be built between the last quarter of 2015 and 2020.
 
In the Philippines, large-capacity chillers are mainly water-cooled, while small-capacity chillers are air-cooled. Trane, York, and Carrier dominate the market and are especially strong in the centrifugal segment.
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