Market Research Report
Indonesia Heating 2020
|Published by||BRG Building Solutions||Product code||979604|
|Published||Content info||110 Pages
Delivery time: 1-2 business days
|Indonesia Heating 2020|
|Published: November 30, 2020||Content info: 110 Pages||
This report provides an in-depth analysis of the Indonesian heating market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years. Indonesia's economy grew at about 5% during 2019, which was slower than the growth rate of 5.2% the country's economy achieved in the previous year. The slower growth during 2019 was due to domestic drivers and weakening exports. The Indonesian water heater market continued to experience positive developments in 2019.
The growth in volume sales of electric instantaneous water heaters was similar to that of the previous year. Electric instantaneous water heaters are not as popular as electric storage water heaters, and thus the market for them is smaller. On the other hand, electric storage water heaters experienced significant sales growth when compared to the previous year. It seems gas water heater sector has been affected by the end of gas subsidies in Indonesia. This has caused gas instantaneous water heaters to grow at a lower rate over the past couple of years. Sales of thermosyphon tanks grew during 2019, although slower than the previous year, in line with the growth in sales of solar collectors. Solar water heating systems are quite economical to operate and the best option for storing water in a tropical climate. The sales of solar thermal continued to grow in 2019, thanks to the high demand from new housing projects and the commercial sector - where large quantities of hot water are required. RAC (Room Air Conditioner) demand in Indonesia has witnessed a slight growth year-on-year and during 2019, market has grown slightly better than the previous year. While the construction of commercial projects grew during the year, VRF and other commercial AC sales also did well during 2019.