Product Code: ETC017029 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Philippines refrigeration and heating equipment market is projected to grow at a CAGR of 5.9% during the forecast period from 2025-2031. Factors such as rising disposable income, increasing population, rising demand for packaged food products, growth in hospitality sector due to increased number of foreign tourists etc., are driving the market growth in the country. Furthermore, various initiatives taken by government to reduce energy consumption also boost the market growth
Increasing adoption of inverter technology based air conditioners with high efficiency is one of the major trends observed in this industry. Inverter air conditioners are more efficient than normal ACs which helps in saving electricity cost and these systems come with long warranty periods which attract customers towards them. Additionally, growing popularity of smart home solutions among households is another trend gaining traction in this space as it offers convenience as well as energy efficiency benefits offered by connected devices like thermostats and HVAC systems
Rising disposable incomes owing to favorable economic conditions has led people to invest more on luxury items including air conditioners/heat pumps thereby driving the sales volumes for refrigeration & heating equipment manufacturers across Philippines regions . Growing investments from private players into commercial applications like shopping malls/hotels have further triggered installation activities thus creating positive sentiments around product sales within markets like Manila, Cebu etc.. Furthermore , technological advancements achieved over past few years such as introduction high performance compressors equipped with inverters have created new opportunity areas for businesses engaged offering special purpose equipments designed especially for cold storages or catering kitchens installed within large establishments. Additionally, technological advancements achieved over past few years such as introduction high performance compressors equipped with inverters have created new opportunity areas for businesses engaged offering special purpose equipments designed especially for cold storages or catering kitchens installed within large establishments . Further government???s focus on improving energy efficiency standards across all sectors coupled with rollout out multiple subsidies & tax incentives programs has helped create an enabling environment where manufacturers can promote their innovative products without any fear of failure while simultaneously pushing down overall operational costs due lower electricity expenditure .
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Refrigeration and Heating Equipment Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Refrigeration and Heating Equipment Market - Industry Life Cycle |
3.4 Philippines Refrigeration and Heating Equipment Market - Porter's Five Forces |
3.5 Philippines Refrigeration and Heating Equipment Market Revenues & Volume Share, By Heating equipments, 2021 & 2031F |
3.6 Philippines Refrigeration and Heating Equipment Market Revenues & Volume Share, By Cooling Equipments, 2021 & 2031F |
3.7 Philippines Refrigeration and Heating Equipment Market Revenues & Volume Share, By General Components, 2021 & 2031F |
3.8 Philippines Refrigeration and Heating Equipment Market Revenues & Volume Share, By End-User Industries, 2021 & 2031F |
4 Philippines Refrigeration and Heating Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Philippines Refrigeration and Heating Equipment Market Trends |
6 Philippines Refrigeration and Heating Equipment Market, By Types |
6.1 Philippines Refrigeration and Heating Equipment Market, By Heating equipments |
6.1.1 Overview and Analysis |
6.1.2 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Heating equipments, 2021-2031F |
6.1.3 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Heating Pumps, 2021-2031F |
6.1.4 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Furnaces, 2021-2031F |
6.1.5 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Boilers, 2021-2031F |
6.1.6 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Space heaters, 2021-2031F |
6.1.7 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Unitary heaters, 2021-2031F |
6.1.8 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.2 Philippines Refrigeration and Heating Equipment Market, By Cooling Equipments |
6.2.1 Overview and Analysis |
6.2.2 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Cooling towers, 2021-2031F |
6.2.3 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Chillers, 2021-2031F |
6.2.4 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Coolers, 2021-2031F |
6.2.5 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Air conditioners , 2021-2031F |
6.2.6 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.3 Philippines Refrigeration and Heating Equipment Market, By General Components |
6.3.1 Overview and Analysis |
6.3.2 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Condensers, 2021-2031F |
6.3.3 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Compressors, 2021-2031F |
6.3.4 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Radiators, 2021-2031F |
6.3.5 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Sensors, 2021-2031F |
6.3.6 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Transducers, 2021-2031F |
6.3.7 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.4 Philippines Refrigeration and Heating Equipment Market, By End-User Industries |
6.4.1 Overview and Analysis |
6.4.2 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Residential, 2021-2031F |
6.4.3 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Commercial, 2021-2031F |
6.4.4 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Healthcare Industry, 2021-2031F |
6.4.5 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Educational and government institutions , 2021-2031F |
6.4.6 Philippines Refrigeration and Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
7 Philippines Refrigeration and Heating Equipment Market Import-Export Trade Statistics |
7.1 Philippines Refrigeration and Heating Equipment Market Export to Major Countries |
7.2 Philippines Refrigeration and Heating Equipment Market Imports from Major Countries |
8 Philippines Refrigeration and Heating Equipment Market Key Performance Indicators |
9 Philippines Refrigeration and Heating Equipment Market - Opportunity Assessment |
9.1 Philippines Refrigeration and Heating Equipment Market Opportunity Assessment, By Heating equipments, 2021 & 2031F |
9.2 Philippines Refrigeration and Heating Equipment Market Opportunity Assessment, By Cooling Equipments, 2021 & 2031F |
9.3 Philippines Refrigeration and Heating Equipment Market Opportunity Assessment, By General Components, 2021 & 2031F |
9.4 Philippines Refrigeration and Heating Equipment Market Opportunity Assessment, By End-User Industries, 2021 & 2031F |
10 Philippines Refrigeration and Heating Equipment Market - Competitive Landscape |
10.1 Philippines Refrigeration and Heating Equipment Market Revenue Share, By Companies, 2024 |
10.2 Philippines Refrigeration and Heating Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |