Applied
3.7 SOUTHEAST ASIA
2022 saw a rebound in demand for applied products, with a significant recovery in Southeast Asia compared with 2021; this is partially due to the impact of exchange rates. Most countries in Southeast ...
3.6 SOUTH KOREA
The Bank of Korea (central bank) projected that the economic growth rate for 2022 and 2023 would reach 2.7 and 2.4%, respectively. But due to the negative effects of the external environment, such as ...
3.5 INDIA
Reported by Rakesh Kumar, consulting editor, ISHRAE Journal Market Performance The Indian market scale of chillers in 2022-2023 is estimated to be around 6,030 chillers (1,451,000 tons), rec...
3.4 EUROPE
Reported by Eurovent Market Intelligence In 2022, the European market for chillers with capacities above 50 kW maintained stable year-on-year growth of 11%, reaching more than €1.65 bill...
3.3 JAPAN
According to the Economic and Social Research Institute, Cabinet Office, Government of Japan, the real GDP growth in FY 2022 was 1.4%. Plans are underway to hold major events even after the end of ...
3.2 CHINA
Chinese chiller and air-side markets faced a difficult situation in 2022. JARN estimates that the Chinese chiller market has recorded US$ 2.80 billion in 2022, showing a 2.3% year-on-year decrease. Th...
3 REGIONAL -3.1 NORTH AMERICA
United States The U.S. gross domestic product (GDP) growth rate for 2022 was 2.1%, demonstrating the robustness of the economy, according to estimates by the International Monetary Fund (IMF). Mean...
2 MARKET TRENDS
Applied systems consist of a heat-source chiller and air-side equipment such as AHUs and FCUs, as well as pumps that transport chilled and cooling water, water pipes, cooling towers that release heat ...
World Chiller and Air-side Equipment Market – 2023 Update –
The world economy shrank in 2022, inflation worsened, and energy prices skyrocketed. Applied equipment, which is used for commercial purposes, showed a dull market performance. The market outlook for ...
Midea Presents Latest MCube Thermal Management Products at R
From September 12 to 14, Midea Building Technologies (MBT) presented its latest MCube thermal management products at RE+ 2023 in Las Vegas. MBT is focused on bringing stable, reliable, and energy-effi...
