All News
1.6 Southeast Asia
Southeast Asia has seen rapid economic growth in recent years with higher per capita income and an expanding middle class. Emerging markets in Southeast Asia serve as strong momentum for growth in the...
1.5 South Korea
South Korea has four seasons, with the warmest weather between July and August. Due to increased urban development and rising average temperatures, air conditioners have become increasingly indispensable in urban areas. Air conditioner utilization has been increasing in recent years with higher temperatures and higher humidity, which is expected to push up demand for energy-saving air conditioner ...
1.4 Japan
In 2013, the Japanese economy continued its moderate recovery, aided by a weaker yen and a rise in the stock market following monetary easing by the Bank of Japan. Nonetheless, the government’s foreca...
1.3.8 Russia
Economic growth in Russia was reduced following the 2008 financial upheaval and GDP growth in 2013 was 1.8%. The government plans to reduce financial support for large construction projects but invest...
1.3.7 Poland
The country has largely escaped theeconomic storms of the Eurozone and although growth fell from a high of 4.3% in 2011 to 1.2% in 2013, it is expected to start rising again from 2014. Construction industry value in 2013 was below the 2012 level but should stabilize in 2014 before regaining growth in 2015. Penetration of air conditioning is 33% in commercial buildings and 2% in residences. ...
1.3.6 United Kingdom
The first signs of growth in the UK’s economy since 2007 appeared in 2013 when GDP rose to 1.4% and is forecast to rise still further to 2.4% in 2014. Experts are divided on whether this is going to be sustainable. New construction is expected to show an overall growth of 3% in the period of 2014-2018. As in Germany air conditioning is centered mainly on the commercial sector: penetration here was...
1.3.5 Germany
Germany remains Europe’s largest economy and the fourth world-wide after the United States, China and Japan. Construction output in general is increasing. Proposed changes in energy legislation aim at a reduction in subsidies for land-based wind turbines which should reduce electricity prices to consumers. Penetration of air conditioning is highest in the commercial sector at 60% whereas fo...
1.3.4 France
The long recession seems to over in France with the first signs of a recovery visible in 2013. But it will be fragile with not much more than a 1% annual growth likely in 2015 and 2016. Government inc...
1.3.3 Turkey
In Turkey all the economic indicators are positive with GDP growing by 3.6% in 2013. Investment in the construction industries is increasing rapidly - one of the major projects attracting global interest is to renew millions of buildings in the country’s earthquake zone which are now seen to be unsafe. The country still aims to become a member of the European Union (EU) and has brought most of its...
1.3.2 Spain
Cautious optimism is expressed for a slow recovery in Spain’s economy with a tentative growth of 0.8% in GDP for 2014 and a possible 1.2% in 2015. Nevertheless construction industry activity continues to decline and its fight-back is not expected until late 2015. This is not good news for most sectors of the air conditioning industry who must continue to rely to a large extent on refurbishment. Cu...
