World Chiller and Air-side Equipment Market – 2022 Update - 1 OVERVIEW

After experiencing the negative consequences of the COVID-19 pandemic in 2020, with vaccination now deployed on a global scale, the reopening of countries, the resumption of tourism, and ongoing economic recovery, the chiller market has shown good recovery momentum. Even in Southeast Asia, the worst hit market in 2020, largescale construction projects that had been frozen for nearly a year resumed. Demand for air conditioning equipment such as chillers has begun to rebound. However, differences among the pandemic prevention policies of various countries have caused significant differences in economic development, resulting in very different growth rates in the main chiller markets in 2021. There are still many countries where the pandemic continues, there are labor shortages, and many largescale projects still cannot be delivered on time.