Market Research Report
Philippines Heating 2018
|Published by||BRG Building Solutions||Product code||342236|
|Published||Content info||93 Pages
Delivery time: 1-2 business days
|Philippines Heating 2018|
|Published: August 31, 2018||Content info: 93 Pages||
This report provides an in-depth analysis of the Filipino heating market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years.
The Philippines is one of the rapidly growing countries in south east Asia with a population exceeding 102 million in 2017. With the penetration of building products in the country being low comparatively, there is ample scope for further growth in HVAC products, especially as the rapidly rising middle class and remittances from abroad fuel the demand for these products. The launch of the ambitious $180 billion "build build build" programme by the Duterte government, emphasizing on infrastructural development bodes well for the growth in sales of heating and cooling products in the country, as demand from provincial cities is expected to increase during the forecast period.
"Being located in a tropical region, the climatic conditions in the Philippines influence an underlying need for cooling (in some form or other) in both residential and commercial buildings. In contrast with neighbouring countries, the window air conditioners remain the most popular type of room air conditioner in the country, while mini splits continue to make inroads in the Filipino market in recent times, and its growth is faster as compared to the former. The inverter model is also gaining in popularity owing to long term savings in the Philippines, where electricity prices are among the highest in the world. The rapidly growing Business Process Outsourcing (BPO) sector is the major driver of VRF sales in the country.
Electric instantaneous water heating remains dominant due to lower cost and space requirements along with ease of installation, while the market for electric storage water heater is small, owing to space constraints and higher cost. Of late, there has been renewed interest in high efficiency storage water heaters and also heat pump water heaters, especially in the commercial sector there is large requirement for hot water.
The solar thermal sector is experiencing underlying growth; the high price of electricity in the Philippines makes it an attractive option for heating water, though in the absence of governmental subsidies and incentives, its market size has been limited. Vacuum tube collectors account for the majority of solar collectors owing to their comparatively lower cost.
This report focuses on the following product categories: