The biggest chiller market in Americas, is the US, which grew around 3%, the US market accounts around 69% of the total chiller market in the region. The second and third biggest countries are Brazil and Mexico also showed growth of 17% and 5% accordingly.
The market for chillers started to react to the US economic recovery and the speed of the recovery is expected to continue in 2014 and 2015 with the acceleration in the building of new commercial properties.
The chiller market continued its double digit growth in 2013 as a result of retrofit and infrastructure improvements in Brazil and a booming economy which has now slowed but still promises to grow considerably in the next 5 years.
In Mexico, the ch
iller market performed well during 2013. It has increased in most of its segments thanks to projects that were in the pipeline before the presidential election process started.
After three consecutive years of growth from 2010 to 2012, Venezuela was the only major market in the region to contract in 2013. The main cause was the weak economic climate and the severe electrical restrictions caused by shut offs on the national electric grid which have affected the market.
Middle East India and Africa
The region suffered in 2013 due to economic and political unrest. The total chiller market declined by 2% and has fallen below US$1.3 billion. Most of the countries in the region recorded a drop in sales; Egypt -17%, India -7%, Iran -6%, Nigeria -3% and UAE-3%. Good news came from South Africa and Saudi Arabia which grew 7% and 4% respectively.
In India privately funded projects were scarce so government funded projects were driving construct
ion industry in 2013. During 2014, government projects have reduced and privately funded projects are still subdued which has caused a major slowdown in all segments of the construction industry and resulted in slowdown in chiller sales.
In Saudi Arabia, most chillers declined by around 14% by value, however a 40% growth in the centrifugal market, accounting for 46% of the market saved the year.
South Africa also managed to grow in the midst of a mining crisis. The players refocused their business on other outlets such as food, beverage, process cooling, abattoirs, car workshops, exhaust centres and paint shops.