Applied
5.1 RUSSIA
Reported by Litvinchuk Marketing The year 2020 was challenging for the world. The pandemic seriously hit the economies of many countries. In this situation, the global central air conditioner marke...
4 PRODUCT & TECHNOLOGY TRENDS
Trends in Central Cooling and Heating Systems Amid restrictions on greenhouse gas (GHG) emissions, key current technology topics in heating, ventilation, and air conditioning (HVAC) systems are: impr...
3.10 AUSTRALIA
World Bank data show that Australia’s GDP only decreased by 0.28% in 2020 because the economic impact of the pandemic is minimal. The Australian government initiated economic incentive policies....
3.9 LATIN AMERICA - Argentina
According to data from the National Institute of Statistics and Census of Argentina, due to the pandemic, Argentina’s GDP in 2020 fell by 9.9% compared with 2019, and 2020 was the third consecutive year of decline. The mandatory quarantine measures taken to prevent and control the pandemic are the main reason for the severe economic downturn. The hotel and catering, fishery, construction, tr...
3.9 LATIN AMERICA - Brazil
According to the Brazilian Institute of Geography and Statistics (IBGE), Brazil’s GDP fell by 4.1% in 2020. This is the first decline in Brazil’s GDP after three consecutive years of growt...
3.9 LATIN AMERICA - Mexico
The National Bureau of Statistics of Mexico has indicated that Mexico’s GDP in 2020 fell 8.5% year on year, dipping to the lowest value in 88 years. Demand in the construction industry fell by 1...
3.8 MIDDLE EAST - Iran
According to the calculations of the IMF, the Iranian economy has achieved a natural growth of 1.5% even in the difficult situation related to the pandemic in 2020, and the completed nominal GDP has r...
Chiller Market Report — SPAIN
Reported by the Asociacion de Fabricantes de Equipos de Climatizacion (AFEC) Economic Situation The Spanish economy suffered the biggest downturn in 85 years due to the pandemic, resulting i...
3.9 LATIN AMERICA
The impact of the global pandemic has exacerbated the risks faced by Latin American countries that are already in an economic downturn. Before the outbreak, the Latin American economy was already faci...
3.8 MIDDLE EAST - UAE
The UAE Central Bank expected the country’s GDP to shrink by 5.2% in 2020. Many venues in the UAE were closed in March 2020, and the situation worsened in the second quarter, leading to negative...
