Applied
2.8.2 Thailand
Thai chiller market size was US$ 77.6 million in 2015, unchanged compared with 2014. The scroll chiller market decreased by 22.0% to US$ 5.5 million, which offset the stable growth of the centrifugal ...
2.8.1 Indonesia
Indonesia saw real GDP growth of 4.79% in 2015, a downward trend for the fifth year running. Public investment was down, and construction of office buildings and hotels has been postponed. The ...
2.8 Southeast Asia
According to BSRIA, the total chiller market in seven countries, namely Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Myanmar, and Cambodia, recorded a 3.7% year-on-year decline to US$ 306.5 million in 2015. The bright spot was the scroll chiller market, which increased by 17.3% to US$ 22.0 million. However, all other chiller types, i.e. reciprocating, screw, centrifugal, and absorption...
2.7 Taiwan
According to BSRIA, Taiwan chiller market scale reached US$ 113.1 million in 2015, a 4.2% decrease from US$ 118.0 million in 2014. Scroll chillers serve a similar cooling capacity range as VRF systems...
2.6 Korea
According to the Bank of Korea, South Korea posted GDP growth of 2.6% in the fourth quarter of 2015, the lowest in three years. According to BSRIA, Korea’s market size for chillers was US$ 262....
2.5 India
Reported by Rakesh Kumar, Technical Editor, ISHRAE Journal Economic Environment According to World Bank data, India’s GDP growth in 2015 was 7.3%, higher than any major world economy with the e...
2.4.7 Spain
No longer to be seen as a failing economy Spain recorded growth in GDP of 3.2% in 2015. Construction output will finally become positive at a 4.3% growth in 2016 after years of recession. This is good news for the central plant market which is largely dependent on new construction. EU Directives for higher efficiency equipment will continue to boost the replacement and refurbishment sectors...
2.4.6 Turkey
In spite of the political turmoil and recent international tensions, the economic outlook still looks good with rising GDP expected for the next few years. Government plans for wide scale construction...
2.4.5 France
The current economic outlook is positive with growth in GDP at 1.1% in 2015 and 1.5% in 2016. Construction activity will also be reestablished in 2016. The total chiller market in 2015 was esti...
2.4.4 Russia
The country’s economy is under at-tack from sanctions, devaluation of the currency (by over 50% since July 2014) and the slowdown in global oil prices. Another factor has been the weakness in domestic...
