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Reported by Asociacion de Fabricantes de Equipos de Climatizacion (AFEC) Market Situation in 2016 During 2016, the Spanish heating, ventilation, and air conditioning (HVAC) market maintained a growing trend. When analyzing the various data, we can state that, although the results for 2016 haven...
Australia’s economy is largely affected by the Chinese economy and market prices of raw materials. Its GDP in 2016 recorded a 2.52% increase, up from 2.41% in 2015. According to BSRIA, Australia’s chiller market size has been contracting for two consecutive years starting in 2015. The centrifugal.../images/up/News/201711261343749737.jpg
2.9 LATIN AMERICA -- Mexico
In the context of the job-saving American policy advocated by the U.S. President Donald Trump, several manufacturers including Carrier have abandoned their plans to shift their U.S. production bases to Mexico. Along with a slow-down in the automotive factory construction boom, the Mexican peso wa.../images/up/News/2017112613375512118.jpg
2.9 LATIN AMERICA -- Brazil
According to ABRAVA, in 2016, the Brazilian HVACR market reported sales of 26.5 billion real (US$ 7.9 billion), of which 18.9 billion real (US$ 5.6 billion) was in the industrial segment, 4 billion real (US$ 1.2 billion) in the services segment, and 3.6 billion real (US$ 1.1 billion) in the commerci.../images/up/News/2017112613302534372.jpg
According to BSRIA, Mexico is the largest chiller market in Latin America followed by Brazil. The combined market scale of Mexico and Brazil in 2016 recorded US$ 154.2 million, an 11% year-on-year decrease. When large roof surfaces are available, rooftop units provide greater flexibility in terms...
2.8 MIDDLE EAST -- Iran
Iran’s GDP came to 6.54%, by far the highest growth seen in the Middle East in 2016. Economic sanctions were lifted on January 20, 2016, but trade sanctions remain in place, which is dampening business activity. Iran is the second-largest chiller market in the Middle East. Its market scale reache...
2.8 MIDDLE EAST -- Saudi Arabia
According to the IMF, Saudi Arabia’s GDP was 1.74% in 2016, far lower than the 4.11% recorded in 2015. The projection of 0.13% GDP growth in 2017 is also very challenging. The Saudi Arabian economy is highly dependent on oil, which accounts for approximately 90% of its exports and 80% of governme...
The large scale of the Middle Eastern chiller market remained unchanged in 2016, but its rate of growth slowed. The two largest markets in the region are Saudi Arabia and Iran, and both recorded double-digit market contractions. Nevertheless, Dubai in the UAE will be hosting the World Expo 2020, whi.../images/up/News/2017112613213272071.jpg
2.7 SE ASIA -- Singapore
Singapore is calling for diversification of energy applications and uses liquid natural gas (LNG) for electricity generation. The country 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 loc.../images/up/News/2017112613153796982.jpg
2.7 SE ASIA -- The Philippines
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 chill.../images/up/News/201711261334364298.jpg
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