Daikin Industries, a leading air conditioning manufacturer from Japan, has recently established Daikin Airconditioning (Cambodia) Co Ltd to cater to the growing air conditioning market in Cambodia. With operations set to commence in January, this move emphasizes Daikin’s commitment to expanding its reach and enhancing its presence in Southeast Asia.
Daikin has had a presence in Cambodia since 2019 through a branch of Daikin Malaysia. However, establishing a dedicated sales company in Cambodia allows the company to better serve the local market and strengthen its sales network and after-sales service system. Additionally, Daikin plans to establish a training facility to develop skilled service engineers proficient in installing and servicing air conditioners.
Asia, with its predominantly tropical climate and growing population, presents a significant growth opportunity for Daikin. Cambodia, situated strategically along the southern economic corridor of the Indochina peninsula, is poised for impressive economic growth, with an anticipated GDP growth rate of 6% in 2024. Moreover, the country boasts a young population, with an average age in the mid-twenties, creating a favorable demographic for the air conditioning market.
Enactment of a new investment law in 2021 has further enhanced Cambodia’s appeal for both domestic and foreign investments. The real estate sector, including resorts, and automobile-related industries are expected to experience significant expansion, leading to overall economic development in the country.
Notably, Cambodia’s HVAC market, particularly the commercial air conditioning segment, is already witnessing growth due to increased investments in shopping centers, hotels, and factories in the capital city, Phnom Penh. With the overall HVAC market projected to grow by 10% annually over the next five years, Cambodia presents a promising market outlook. Furthermore, as population growth continues, demand for residential air conditioning is expected to escalate, further fueling the market’s expansion.
Daikin’s establishment of a dedicated sales company in Cambodia reflects its long-term vision and strategy for the region. By leveraging its expertise and experience in providing high-quality air conditioning solutions, Daikin aims to meet the specific requirements and demands of the Cambodian market, contributing to the nation’s infrastructure development and improving the quality of life for its inhabitants.
As Daikin strengthens its presence in Cambodia, it reinforces the company’s commitment to offering innovative and energy-efficient air conditioning solutions to meet the diverse needs of the Southeast Asian market. With its new sales company, Daikin is well-positioned to capitalize on the promising opportunities and contribute to the growth and development of Cambodia’s air conditioning industry.
Source: Khmer Times