Indonesia Chillers Non European in Depth Air Conditioning 2013 (Sample)

Chillers
Indonesia
A multi client study
By Stan Samek
November 2013
Chillers
Indonesia
Contract: Report 57564/6A
Date: November 2013
Issued by: BSRIA Limited

Old Bracknell Lane West,
Bracknell,
Berkshire RG12 7AH UK
Telephone: +44 (0)1344 465600
Fax: +44 (0)1344 465626
E: bsria@bsria.co.uk W: www.bsria.co.uk
Compiled by: Approved by:

Name: Stan Samek Name: Saziye Dickson
All rights reserved. This document may not be reproduced, transmitted or redistributed in part or full without prior written
consent from a BSRIA Director.
© BSRIA Page 3 of 56 Report 57564/6A

CHILLERS CONTENTS
CONTENTS
1 INTRODUCTION........................................................................................................................... 7
1.1 Methodology .......................................................................................................................7
1.2 Definitions ...........................................................................................................................7
2 SUMMARY .................................................................................................................................... 8
3 MARKET SIZE, STRUCTURE AND SEGMENTATION ............................................................. 14
3.1 Market size .......................................................................................................................14
3.2 Chillers ..............................................................................................................................15
3.2.1 By size ............................................................................................................................. 16
3.2.2 By compressor type ......................................................................................................... 17
3.2.3 By heat rejection method ................................................................................................. 19
3.2.1 Amount of chillers with free cooling option ...................................................................... 20
3.2.2 By heat pump versus cooling only ................................................................................... 24
3.2.3 Chillers by inverter compressor ....................................................................................... 26
3.2.4 Process chillers ................................................................................................................ 28
3.2.5 By type of refrigerant ....................................................................................................... 29
4 MAJOR COMPANIES ................................................................................................................. 30
4.1 Overview ...........................................................................................................................30
4.2 Chillers ..............................................................................................................................30
4.2.1 Key company trends in air conditioning chillers .............................................................. 31
4.2.2 Key company trends in process chillers .......................................................................... 32
4.3 Product ranges .................................................................................................................33
5 HISTORICAL TREND AND FORECAST .................................................................................... 34
5.1 Historical trend ..................................................................................................................34
5.1.1 Overview .......................................................................................................................... 34
5.1.2 Chillers ............................................................................................................................. 34
5.2 Forecast ............................................................................................................................37
5.2.1 Assumptions .................................................................................................................... 37
5.2.2 Chillers ............................................................................................................................. 38
5.3 Construction & macroeconomic factors ............................................................................44
5.3.1 Construction and forecast ................................................................................................ 44
6 OVERSEAS TRADE ................................................................................................................... 47
6.1 Production .........................................................................................................................47
6.1.1 Trends in manufacturing .................................................................................................. 47
6.2 Imports ..............................................................................................................................48
6.3 Exports ..............................................................................................................................48
7 DISTRIBUTION ........................................................................................................................... 49
8 PRICING AND DISCOUNTS ...................................................................................................... 50
8.1 Pricing ...............................................................................................................................50
8.2 Discounts ..........................................................................................................................50
9 END USER SECTOR AND APPLICATIONS.............................................................................. 51
9.1 Specification trends ..........................................................................................................52
APPENDICES
APPENDIX: A ADDRESSES OF AIR CONDITIONING SUPPLIERS ................................................ 53
APPENDIX: B END USER/APPPLICATIONS – NEW DEFINITIONS ................................................ 56

CHILLERS CONTENTS
TABLES
Table 1 Current and future AC penetration into the residential and commercial market ...................... 13
Table 2 Volume of market for chillers (units), 2011-2013(E)................................................................. 14
Table 3 Value of market for chillers (IDR million), 2011-2013(E) .......................................................... 14
Table 4 Value of market for chillers (US$ million), 2011-2013(E) ......................................................... 14
Table 5 Chiller market by size, volume of market (units), 2011-2013(E) .............................................. 16
Table 6 Chiller market by size, value of market (IDR million), 2011-2013(E) ....................................... 16
Table 7 Chiller market by size, value of market (US$ million), 2011-2013(E) ...................................... 17
Table 8 Chiller market by compressor type, volume (units), 2011-2013(E) .......................................... 18
Table 9 Chiller market by compressor type, value (IDR million), 2011-2013(E) ................................... 18
Table 10 Chiller market by compressor type, value (US$ million), 2011-2013(E) ................................ 19
Table 11 Chiller market by heat rejection method, volume (units), 2011-2013(E) ................................ 19
Table 12 Chiller market by heat rejection method, value (IDR million), 2011-2013(E) ......................... 19
Table 13 Chiller market by heat rejection method, value (US$ million), 2011-2013(E) ........................ 19
Table 14 Cross analysis of chiller market by size, type and heat rejection, volume, 2011 ................... 21
Table 16 Cross analysis of chiller market by size, type and heat rejection, volume, 2013(E) .............. 23
Table 17 Chiller market by heat pump versus cooling only and type, volume (units), 2011-2013(E) ... 25
Table 18 Chiller market by heat pump versus cooling only and type, value (IDR million),
2011-2013(E) ......................................................................................................................................... 25
Table 19 Chiller market by heat pump versus cooling only and type, value (US$ million),
2011-2013(E) ......................................................................................................................................... 26
Table 20 Chiller market by inverter, volume (units), 2011-2013(E)....................................................... 27
Table 21 Chiller market by inverter, value (IDR million), 2011-2013(E) ................................................ 27
Table 22 Chiller market by inverter, value (US$ million), 2011-2013(E) ............................................... 28
Table 23 Process chillers by application, volume & value %, 2012 ...................................................... 28
Table 24 Process chillers by size, volume %, 2012 .............................................................................. 28
Table 25 Chiller market by refrigerant and type, % of sales by volume, 2012 ...................................... 29
Table 45 Market leaders for chillers by size, by value, 2012 ................................................................ 30
Table 46 Market leaders for chillers by type of compressor, by value, 2012/13 ................................... 30
Table 47 Local producing market leaders for chiller products, by value, 2012 ..................................... 31
Table 48 Key suppliers of process chillers, by value, 2012 .................................................................. 32
Table 54 Matrix of principal suppliers, chillers....................................................................................... 33
Table 55 Historical trend for chillers, volume (units), 2008-2012 .......................................................... 35
Table 56 Historical trend for chillers, value at current prices (IDR million), 2008-2012 ........................ 35
Table 57 Historical trend for chillers, average IDR MSP, 2008-2012 ................................................... 35
Table 58 Historical trend for chillers, value at current prices (US$ million), 2008-2012 ....................... 36
Table 59 Historical trend for chillers, average US$ MSP, 2008-2012 ................................................... 36
Table 60 Forecast assumptions ............................................................................................................ 37
Table 61 Forecast for the chiller market, volume (units), 2011-2017 .................................................... 39
Table 62 Forecast for the chiller market, value (IDR million in 2012 prices), 2011-2017 ..................... 40
Table 63 Forecast for the chiller market, average IDR MSP (in 2012 prices), 2011-2017 ................... 41
Table 64 Forecast for the chiller market, value (US$ million in 2012 prices), 2011-2017 .................... 42
Table 65 Forecast for the chiller market, average US$ MSP (in 2012 prices), 2011-2017 .................. 43
Table 71 Construction trends and forecasts, 2010-2015 ...................................................................... 45
Table 72 Macro-economic forecasts, 2011-2017 .................................................................................. 46
Table 73 Trends in consumer price index, 2010-2017 .......................................................................... 46
Table 74 Overview of key brands in the market place .......................................................................... 47
Table 75 Local manufacturers of chillers products (descending order), 2012 ...................................... 48
Table 76 Foreign trade (derived), chillers market, value (IDR million), 2012(E) ................................... 48
Table 77 Foreign trade (derived), chillers market, value (US$ million), 2012(E) .................................. 48
Table 78 Distribution of chillers equipment, of sales by value (%), 2012 .............................................. 49
Table 79 Examples of average list prices (IDR) by product type, 2012 ................................................ 50
Table 80 Examples of average list prices (US$) by product type, 2012 ............................................... 50
Table 81 End user sectors for chillers, % by value, 2012 ..................................................................... 51
Table 82 Applications for chillers, % by value, 2012 ............................................................................. 51

CHILLERS CONTENTS
FIGURES
Figure 1 Map of Indonesia ....................................................................................................................... 8
Figure 2 Overview of central plant air conditioning market, % volume and value, 2012 ...................... 13
Figure 3 Central plant air conditioning, value (US$ million), 2012 ........................................................ 15
Figure 4 Central plant air conditioning, volume (units), 2012 ................................................................ 15
Figure 5 Chiller market by size, analysis by volume (units), 2012 ........................................................ 17
Figure 6 Chiller market by heat rejection method, volume and value, 2012 ......................................... 20
Figure 7 Chillers by size and type of compressor, volume, 2012 .......................................................... 24
Figure 8 Chillers by size and type of compressor, % by volume, 2012 ................................................ 24
Figure 9 Chiller market by heat pump versus cooling only and type, volume and value, 2012 ............ 26
Figure 10 Forecast for the chiller market by type of compressor, value (US$ million), 2011-2017 ...... 44

Central plant air
conditioning
Spain
European air conditioning
By Pablo Vicario
November 2012
Central plant air
conditioning
Spain
Contract: Report 55302/6
Date: November 2012
Issued by: BSRIA Limited

Old Bracknell Lane West,
Bracknell,
Berkshire RG12 7AH UK
Telephone: +44 (0)1344 465600
Fax: +44 (0)1344 465626
E: bsria@bsria.co.uk W: www.bsria.co.uk
Compiled by: Approved by:

Name: Pablo Vicario Name: David Garwood
This report must not be reproduced except in full without the written approval of an executive director of BSRIA. It is only
intended to be used within the context described in the text.
© BSRIA Page 3 of 76 Report 55302/6

CENTRAL PLANT AIR CONDITIONING CONTENTS
CONTENTS
1 INTRODUCTION........................................................................................................................... 8
1.1 Methodology .......................................................................................................................8
1.2 Definitions ...........................................................................................................................9
2 SUMMARY .................................................................................................................................. 10
3 MARKET SIZE, STRUCTURE AND SEGMENTATION ............................................................. 12
3.1 Market size .......................................................................................................................12
3.2 Chillers ..............................................................................................................................13
3.2.1 By size ............................................................................................................................. 14
3.2.2 By compressor type ......................................................................................................... 16
3.2.3 By heat rejection method ................................................................................................. 19
3.2.4 Amount of chillers with free cooling option ...................................................................... 21
3.2.5 By heat pump versus cooling only ................................................................................... 24
3.2.6 Process chillers ................................................................................................................ 27
3.2.7 By type of refrigerant ....................................................................................................... 27
3.3 Air handling units ..............................................................................................................29
3.3.1 Overview .......................................................................................................................... 29
3.3.2 By type ............................................................................................................................. 29
3.3.3 Compact units .................................................................................................................. 30
3.3.4 By size and type .............................................................................................................. 30
3.3.5 By heat recovery option ................................................................................................... 31
3.3.6 By application .................................................................................................................. 32
3.3.7 By zone configuration ...................................................................................................... 33
3.3.8 By wall construction ......................................................................................................... 33
3.4 Fan coils ...........................................................................................................................34
3.4.1 Overview .......................................................................................................................... 34
3.4.2 By design ......................................................................................................................... 34
3.4.3 By mode and number of pipes ......................................................................................... 35
3.4.4 By type of control ............................................................................................................. 36
3.5 Other terminal units ..........................................................................................................36
4 MAJOR COMPANIES ................................................................................................................. 38
4.1 Overview ...........................................................................................................................38
4.2 Chillers ..............................................................................................................................38
4.2.1 Key company trends in air conditioning chillers .............................................................. 41
4.3 Air handling units ..............................................................................................................41
4.3.1 Key company trends ........................................................................................................ 43
4.4 Fan coil and other terminal units ......................................................................................44
4.4.1 Key company trends in other terminal unit markets ........................................................ 45
4.5 Product ranges .................................................................................................................46
5 HISTORICAL TREND AND FORECAST .................................................................................... 47
5.1 Historical trend ..................................................................................................................47
5.1.1 Chillers ............................................................................................................................. 47
5.1.2 Air handling units ............................................................................................................. 47
5.1.3 Terminal units .................................................................................................................. 47
5.2 Forecast ............................................................................................................................50
5.2.1 Assumptions .................................................................................................................... 50
5.2.2 Chillers ............................................................................................................................. 51
5.2.3 Air handling units and terminal units................................................................................ 57
5.3 Construction & macroeconomic factors ............................................................................59
6 OVERSEAS TRADE ................................................................................................................... 64
6.1 Production .........................................................................................................................64
6.1.1 Trends in manufacturing .................................................................................................. 64
6.2 Imports ..............................................................................................................................65
6.3 Exports ..............................................................................................................................65

7 DISTRIBUTION ........................................................................................................................... 67
8 PRICING AND DISCOUNTS ...................................................................................................... 68
8.1 Pricing ...............................................................................................................................68
8.2 Discounts ..........................................................................................................................69
9 END USER SECTOR AND APPLICATIONS.............................................................................. 70
9.1 Specification trends ..........................................................................................................71
APPENDICES
APPENDIX: A ADDRESSES OF AIR CONDITIONING SUPPLIERS ................................................ 72
APPENDIX: B END USER/APPPLICATIONS – NEW DEFINITIONS ................................................ 75
APPENDIX: C COMPARISION OF PRODUCTS RECORDED IN HEAT RECOVERY AND AIR
CONDITIONING REPORTS ....................................................................................................... 76
TABLES
Table 1 Volume of market for central plant air conditioning (units), 2010-2012(E) ............................... 12
Table 2 Value of market for central plant air conditioning (Euro million), 2010-2012(E) ...................... 12
Table 3 Value of market for central plant air conditioning (US$ million), 2010-2012(E) ....................... 12
Table 4 Chiller market by size, volume of market (units), 2010-2012(E) .............................................. 15
Table 5 Chiller market by size, value of market (Euro million), 2010-2012(E) ...................................... 15
Table 6 Chiller market by size, value of market (US$ million), 2010-2012(E) ...................................... 15
Table 7 Chiller market by compressor type, volume (units), 2010-2012(E) .......................................... 19
Table 8 Chiller market by compressor type, value (Euro million), 2010-2012(E) .................................. 19
Table 9 Chiller market by compressor type, value (US$ million), 2010-2012(E) .................................. 19
Table 10 Chiller market by heat rejection method, volume (units), 2010-2012(E) ................................ 20
Table 11 Chiller market by heat rejection method, value (Euro million), 2010-2012(E) ....................... 20
Table 12 Chiller market by heat rejection method, value (US$ million), 2010-2012(E) ........................ 20
Table 15 Cross analysis of chiller market by size, type and heat rejection, volume, 2012(E) .............. 23
Table 16 Chiller market by heat pump versus cooling only and type, volume (units), 2010-2012(E) ... 25
Table 17 Chiller market by heat pump versus cooling only and type, value (Euro million),
2010-2012(E) ......................................................................................................................................... 25
Table 18 Chiller market by heat pump versus cooling only and type, value (US$ million),
2010-2012(E) ......................................................................................................................................... 26
Table 19 Process chillers by application, volume & value, 2011 .......................................................... 27
Table 20 Process chillers by size, volume, 2011 .................................................................................. 27
Table 21 Chiller market by refrigerant and type, % of sales by volume, 2011 ...................................... 29
Table 22 Air handling units by type, volume (units), 2010-2012(E) ...................................................... 30
Table 23 Air handling units by type, value (Euro million), 2010-2012(E) .............................................. 30
Table 24 Air handling units by type, value (US$ million), 2010-2012(E) ............................................... 30
Table 25 Air handling units by size, volume (units), 2010-2012(E) ....................................................... 30
Table 26 Air handling units by size, value (Euro million), 2010-2012(E) .............................................. 31
Table 27 Air handling units by size, value (US$ million), 2010-2012(E) ............................................... 31
Table 28 Air handling units by heat recovery option, volume (units), 2010-2012(E) ............................ 32
Table 29 Air handling units by heat recovery option, value (Euro million), 2010-2012(E) .................... 32
Table 30 Air handling units by heat recovery option, value (US$ million), 2010-2012(E) ..................... 32
Table 31 Air handling units by application, volume (units), 2010-2012(E) ............................................ 32
Table 32 Air handling units by application, value (Euro million), 2010-2012(E).................................... 33
Table 33 Air handling units by application, value (US$ million), 2010-2012(E) .................................... 33
Table 34 Air handling units by type of installation, volume (units), 2010-2012(E) ................................ 33
Table 35 Air handling units by wall construction (skin), volume (units), 2010-2012(E)......................... 34
Table 36 Fan coil market by value (Euro million), 2010-2012(E) .......................................................... 35

Table 37 Fan coil market by value (US$ million), 2010-2012(E)........................................................... 35

Table 38 Fan coil market by design (chilled water only), volume (units), 2010-2012(E) ...................... 35
Table 39 Fan coil market analysed by mode and number of pipes, volume (units), 2010-2012(E)...... 36
Table 40 Fan coil market by type of control, volume (units), 2010-2012(E) ......................................... 36
Table 41 Other terminal units, volume (units) of the market, 2010-2012(E) ......................................... 37
Table 42 Other terminal units, value (Euro million) of the market, 2010-2012(E) ................................. 37
Table 43 Other terminal units, value (US$ million) of the market, 2010-2012(E) ................................. 37
Table 44 Market leaders for chillers by size, by value, 2011/12 ........................................................... 40
Table 45 Market leaders for chillers by type of compressor, by value, 2011/12 ................................... 40
Table 46 Local producing market leaders for chiller products, by value, 2011/12 ................................ 40
Table 47 Key suppliers of process chillers, by value, 2011/12 ............................................................. 41
Table 48 Market leaders for air handling units analysed by major company by product type,
by value, 2011/12 .................................................................................................................................. 43
Table 49 Local producing market leaders for air handling units, by value, 2011/12 ............................. 43
Table 50 Market leaders for fan coil units analysed by product type, by value, 2011/12 ..................... 44
Table 51 Market leaders for fan coils units analysed by 2-pipe versus 4-pipe, by value, 2011/12 ....... 44
Table 52 Local producing market leaders for fan coil units, by value, 2011/12 .................................... 44
Table 53 Market leaders for other terminal units, by value, 2011/12 .................................................... 44
Table 54 Local producing market leaders for other terminal units, by value, 2011/12 ......................... 45
Table 55 Matrix of principal suppliers, central plant air conditioning ..................................................... 46
Table 56 Historical trends for central plant air conditioning, volume (units), 2007-2011 ...................... 48
Table 57 Historical trend for central plant air conditioning, value at current prices (Euro million),
2007-2011 ............................................................................................................................................. 48
Table 58 Historical trend for central plant air conditioning, average Euro MSP, 2007-2011 ................ 49
Table 59 Historical trend for central plant air conditioning, value at current prices (US$ million),
2007-2011 ............................................................................................................................................. 49
Table 60 Historical trend for central plant air conditioning, average US$ MSP, 2007-2011 ................. 50
Table 61 Forecast assumptions ............................................................................................................ 51
Table 62 Forecast for the chiller market, volume (units), 2010-2016 .................................................... 52
Table 63 Forecast for the chiller market, value (Euro million in 2011 prices), 2010-2016 .................... 53
Table 64 Forecast for the chiller market, average Euro MSP (in 2011 prices), 2010-2016 .................. 54
Table 65 Forecast for the chiller market, value (US$ million in 2011 prices), 2010-2016 .................... 55
Table 66 Forecast for the chiller market, average US$ MSP (in 2011 prices), 2010-2015 .................. 56
Table 67 Forecast for airside products and terminal units, volume (units), 2010-2016 ........................ 57
Table 68 Forecast for airside products and terminal units, value (Euro million in 2011 prices),
2010-2016 ............................................................................................................................................. 58
Table 69 Forecast for airside products and terminal units, average MSP Euro (in 2011 prices),
2010-2016 ............................................................................................................................................. 58
Table 70 Forecast for airside products and terminal units, value (US$ million in 2011 prices),
2010-2015 ............................................................................................................................................. 58
Table 71 Forecast for airside products and terminal units, average MSP US$ (in 2011 prices),
2010-2015 ............................................................................................................................................. 59
Table 72 Construction trends and forecasts, 2009-2014 ...................................................................... 61
Table 73 Macro-economic forecasts, 2010-2016 .................................................................................. 61
Table 74 Trends in consumer price index, 2009-2014 .......................................................................... 63
Table 75 Overview of key brands in the market place .......................................................................... 64
Table 76 Local manufacturers of central plant products, (descending order), 2011 ............................. 64
Table 77 Foreign trade (derived) for central plant market, value (Euro million), 2011(E) ..................... 65
Table 78 Foreign trade (derived) for central plant market, value (US$ million), 2011(E) ..................... 66
Table 79 Distribution of central plant equipment, of sales by value (%), 2011 ..................................... 67
Table 80 Examples of average list prices (Euro) by product type, 2011 ............................................... 68
Table 81 Examples of average list prices (US$) by product type, 2011 ............................................... 68
Table 82 End user sectors for central plant, % by value, 2011 ............................................................. 70
Table 83 Applications for central plant, % by value, 2011 .................................................................... 71

FIGURES
Figure 1 Map of Spain ........................................................................................................................... 10
Figure 2 Overview of central plant air conditioning market, % volume and value, 2011 ...................... 11
Figure 3 Central plant air conditioning, value (Euro million), 2011........................................................ 13
Figure 4 Central plant air conditioning, volume, 2011 ........................................................................... 13
Figure 5 Chiller market by size, analysis by volume, 2011 ................................................................... 16
Figure 6 Chiller market by heat rejection method, volume and value, 2011 ......................................... 20
Figure 7 Chillers by size and type of compressor, volume, 2011 .......................................................... 24
Figure 8 Chillers by size and type of compressor, % by volume, 2011 ................................................ 24
Figure 9 Chiller market by heat pump versus cooling only and type, volume and value, 2011 ............ 26
Figure 10 Forecast for the chiller market by type of compressor, value (Euro million), 2010-2016 ...... 57
Figure 11 Forecast for airside products and terminal units, value (Euro million), 2010-2016 ............... 59

CENTRAL PLANT AIR CONDITIONING SPAIN
1 INTRODUCTION
This report is the result of BSRIA’s 16th annual study on the key European markets for air
conditioning. The countries covered are:
 UK
 France
 Germany
 Italy
 Spain
 Poland
 Russia
In terms of product groups, these are covered in two separate volumes, as follows, for each country:
Packaged Air Conditioning Central Plant Air Conditioning

 Windows/through the wall  Chillers
 Moveables  Air handling units
 Single splits  Fan coils
 Multi splits  Other terminal units
 VRF
 US-style ducted splits
 Roof tops
 Indoor packaged
 Close control
Definitions of key product groups are available in a separate definitions report.
Data in the reports are supplied for 2010, 2011 and 2012 (estimates), with forecasts to 2016. However,
please note that due to the volume of data, the main part of the report will concentrate around 2010-
2011 data, with some key 2012 data.
1.1 METHODOLOGY
The research was based on a mixture of methodologies:
 In the UK, data was obtained through a mixture of methodologies:

- Statistical collection, based on annual HEVAC statistics, which BSRIA collects on behalf of
the UK Trade Association
- Personal and telephone interviews
 Outside the UK, statistical data submitted by individual companies in selected product areas.
 BSRIA uses a mixture of its own consultants from the Worldwide Market Intelligence section and
its subsidiaries outside of the UK, and its long-term partners.
 Data obtained outside the UK was cross-checked and formatted by BSRIA in order to provide
comparable data.
 Face to face Pan-European interviews with European Head offices were undertaken by BSRIA’s
own consultants to cross-check draft data.

At local level, research was obtained through a range of sources:
 statistical collection
 desk research
 face to face interviews
 telephone/fax interviews
The research was planned and controlled from BSRIA, which combined the advantage of using local
experts, which are long standing partners, as well as offering BSRIA expertise in the air conditioning
field and the advantage of supplying a comparable set of data across Europe.
In Spain 9 face to face and 7 telephone interviews were conducted with major local suppliers and
specifiers
1.2 DEFINITIONS
 Please note that all market size volumes in this report refer to number of units sold in a given year;
for split systems this refer to outdoor units, where not indicated otherwise.
 Values stated in this report refer to the value of the whole system, with the average prices recorded
at first point of distribution. Values of sales at manufacturers selling prices includes ancillaries,
such as controls, where applicable. The price excludes VAT or equivalent taxes outside of the UK.
 For the purpose of this study, the following exchange rates have been used:
€1 = US$1.33 (2010)
€1 = US$1.39 (2011 onwards)

2 SUMMARY
Figure 1 Map of Spain
Source: www.cia.gov
 The Spanish market for central plant air conditioning products has continue performing declines
across all its segments as a direct consequence of:
o Low commercial and industrial construction activity

o Freeze in the private and public investment.
o Reallocation and re-prioritization of available budgets by the end users (companies,
holding groups, investment groups, construction companies etc).
 In these conditions it becomes difficult to expand the market and capitalise sales
 On the chiller segment, sales have decreased compared to 2010 and a further drop is expected for
2012. We will have to wait until late 2013 to start seeing the first symptoms of recovery. But
regardless of how the market starts to recover it will take some years to bounce back to the levels
this segment used to hold a few years ago.
 Air-cooled still dominates the chiller market however water sourced equipment has felt the
advantage of its cheaper price and it has been felt a slight increase on its sales in detriment of the
air cooled type. This trend is expected to bounce back once the market starts to recover.
 Air handling units and the terminal unit segment follow the steps of the chiller segment. Both
markets have decrease compared to 2010 and again further drops are expected for the next few
years. AHU segment might behave in a different way and will recover at a faster pace but fan coil
and the other terminal unit markets will follow the performance of the chiller market.
 Regarding refrigerants, R22 continues its phase out process which is likely to bring an opportunity
to manufacturers and suppliers by retrofitting existing units running with R22 with new higher
efficient equipment.

 Heat recovery options are expected to continue their growing trend commenced a few years ago.
The prompt form the local energy agencies and the government has helped to kick off this
segment. This applies also to the VRF units which have felt the market recession in a major way
but are expected to increase its heat recovery segment consistently in the midterm.
 Number of companies operating within the AC market can be considered as extensive. Some
dominant companies tend to be involved in both vertical segments of the market: residential and
commercial/ industrial (i.e. Daikin and Toshiba-Carrier).
Figure 2 Overview of central plant air conditioning market, % volume and value, 2011
Volume Value (€ million)
Total: 85,709 units Total: € 142.3 million

Source: BSRIA

3 MARKET SIZE, STRUCTURE AND SEGMENTATION
3.1 MARKET SIZE
Table 1 Volume of market for central plant air conditioning (units), 2010-2012(E)
2010 2011 2012E
(1)
Chillers 6,167 5,131 4,259
Air handling units 9,647 8,586 7,298
Fan coils 68,516 63,035 51,679
Other terminal units 9,377 8,957 8,037
Total 93,707 85,709 71,273
Source: BSRIA
Note: 1. Only AC applications. This may include up to 5% of chillers for mixed applications.
Table 2 Value of market for central plant air conditioning (Euro million), 2010-2012(E)
2010 2011 2012E Average Average Average
€ million € million € million MSP €-2010 MSP €-2011 MSP €-
2012E
(3)
Chillers 92.7 77.0 62.1 15,032 15,011 14,590
Air handling units 41.3 39.3 34.0 4,281 4,580 4,660
Fan coils 20.3 18.6 15.6 296 295 302
Other terminal units 8.4 7.4 6.5 894 830 814
Total 162.7 142.3 118.3 1,736 1,661 1,660
Source: BSRIA
Notes: 1. Not appropriate to give a combined figure
2. All values are based on sales at first point of distribution,e.g manufacturer to distributor
3. Only AC applications. This may include up to 5% of chillers for mixed applications
Table 3 Value of market for central plant air conditioning (US$ million), 2010-2012(E)
US$ million US$ million US$ million MSP US$- MSP US$- MSP US$-
2010 2011 2012E
Chillers 123.1 107.2 86.5 19,960 20,901 20,316
Air handling units 54.8 54.7 47.4 5,685 6,377 6,489
Fan coils 27.0 25.8 21.7 393 410 420
Other terminal units 11.1 10.4 9.1 1,187 1,156 1,134
Total 216.0 198.2 164.7 2,305 2,312 2,311
Source: BSRIA
Notes: 1. Not appropriate to give a combined figure
2. All values are based on sales at first point of distribution,e.g manufacturer to distributor
3. Only AC applications. This may include up to 5% of chillers for mixed applications.
Exchange rate: €1 = US$1.33 (2010); €1 = US$1.39 (2011 onwards)

Figure 3 Central plant air conditioning, value (Euro million), 2011
Source: BSRIA
Figure 4 Central plant air conditioning, volume, 2011
Source: BSRIA
3.2 CHILLERS
The Spanish market for chillers keeps decreasing as a direct consequence of the lower public and
private investment on the construction sector. This is translated into a relatively low number of new
projects and less on the foreseeable pipeline putting things difficult for the market to recover.
Reposition and replacement have slightly increased counterattacking the drop on the new build
segments.
The market keeps competing with the VRF again. Prices for the latter one decreased during 2010 and
have been performing steady increases year on year despite its constant market drop since then. This
situation has opened a gap for chillers to compete merely by price not as for technology enabling the
chiller market to erode a tiny portion of the VRF market. This tendency is expected to continue during
the next few years until the VRF market start to catch up again.

The chiller market accounted in 2011 for an estimated volume of 5,131 units establishing a -16.7%
drop compared to 2010. The market value was estimated at €77 million representing a 16% decrease
compared to the previous year. The market has been hit considerably during 2011 as a snow ball effect
commenced in late 2009. The market has been avoiding major declines for the past years thanks to the
projects placed on the pipeline. Once the pipeline has emptied the market has contracted in a more
accentuated way than the previous year’s performance.
3.2.1 By size
Chillers <100kW
Sales for chillers with a capacity of below 100kW accounted for 3,326 units; the segment was valued
at € 19.8 million. Units sold to the residential market helped to prevent further deteriorations. Sales
conducted through this segment account for the largest share of the market representing an estimated
64% of the total chiller market.
Competition with direct expansion systems, such as VRF, is still palpable, and is likely to increase in
the short term. Nowadays, end users are known for choosing a cheaper option in the vast majority of
cases, rather than to capitalize large investments in more expensive equipment.
Scroll compressors continue to dominate this power range section. We estimate that they account for
99% of the sales.
Chillers from 100kW to 350kW
Mid power range chiller sales accounted for 1,192 units and its value was estimated at € 25.6 million
in 2011. Again scroll and screw compressors enjoyed the largest share within this sector.
Most of the chillers from this power range and above are the ones addressed towards the commercial
and the industrial applications. The segments from 50kW and above can be considered the ones which
have been impacted at a higher extent due to the lack of construction projects.
Chillers from 350kW to 700kW
This segment represented 436 units and was valued at €18.3 million in 2011, entailing a decline of
22% in terms of volume. This segment, along with the 100kW –350kW category, was also affected by
the dearth of major construction projects predicted for the next few years.
Prices along this segment have increased compared to the previous year but this is due to the large
number of sales concentrated on the higher end of the segment characterized for holding higher power
ranges and therefore higher prices.
Chillers > 700kW
The market for chillers above 700kW is characterized for holding the same number of units than the
previous year. The volume was established at 177 units and its value was estimated at 13 mill€. The
value of the market dropped slightly compared to the 2010. The reason behind this is the drop on
prices from the main suppliers in order to gain competitiveness in the market and the lower sales
concentrated on the high power range end.
The chiller market above 700kW lends itself to large industrial and commercial projects where a large
air supply is needed. These projects include major office buildings, hospitals and large commercial
buildings and leisure projects, most of them related with the hotel industry. These sectors have been in
decline over the last few years and are forecast to fall further in 2011.

Table 4 Chiller market by size, volume of market (units), 2010-2012(E)

2010 2011 2012E
Units % Units % Units %
<17.5kW 1,651 27% 1,329 26% 1,134 27%
17.6-50kW 1,513 25% 1,353 26% 1,251 29%
51-100kW 823 13% 644 13% 465 11%
101-200kW 783 13% 693 14% 426 10%
201-350kW 660 11% 499 10% 449 11%
351-500kW 335 5% 260 5% 239 6%
501-700kW 226 4% 176 3% 158 4%
701-900kW 81 1% 80 2% 62 1%
>901kW 96 2% 97 2% 75 2%
Total 6,167 100% 5,131 100% 4,259 100%
Source: BSRIA
Note: Only AC applications. This may include up to 5% of chillers for mixed applications.
Table 5 Chiller market by size, value of market (Euro million), 2010-2012(E)

2010 2011 2012E
€ million % € million % € million Units
<17.5kW 4.9 5% 6.3 8% 5.0 8%
17.6-50kW 9.1 10% 8.0 10% 7.5 12%
51-100kW 9.4 10% 5.4 7% 4.0 6%
101-200kW 14.2 15% 10.1 13% 6.6 11%
201-350kW 23.5 25% 15.6 20% 13.3 21%
351-500kW 9.0 10% 9.9 13% 8.7 14%
501-700kW 9.2 10% 8.6 11% 7.4 12%
701-900kW 5.4 6% 4.8 6% 3.7 6%
>901kW 8.2 9% 8.2 11% 6.0 10%
Total 92.7 100% 77.0 100% 62.1 100%
Source: BSRIA
Table 6 Chiller market by size, value of market (US$ million), 2010-2012(E)

2010 2011 2012E
US$ million % US$ million % US$ million %
<17.5kW 6.5 5% 8.8 8% 7.0 8%
17.6-50kW 12.1 10% 11.2 10% 10.4 12%
51-100kW 12.4 10% 7.6 7% 5.5 6%
101-200kW 18.8 15% 14.1 13% 9.2 11%
201-350kW 31.1 25% 21.7 20% 18.5 21%
351-500kW 11.9 10% 13.8 13% 12.2 14%
501-700kW 12.2 10% 12.0 11% 10.3 12%
701-900kW 7.1 6% 6.7 6% 5.1 6%
>901kW 10.8 9% 11.4 11% 8.3 10%
Total 123.1 100% 107.2 100% 86.5 100%
Source: BSRIA

Figure 5 Chiller market by size, analysis by volume, 2011
Source: BSRIA
3.2.2 By compressor type

The most popular types of compressors are the scroll and the screw. They normally cover most
applications, between them they also are characterized for covering all power ranges.
Reciprocating
This type of chiller is been representing marginal sales for the last five years. Despite the fact it has
been forecasted to disappear from the market several times it manages to account for a few units sold
every year. Most of the sales are addressed towards the reposition markets.
The main reasons for its low popularity are:
 They are not as energy efficient as other options available in the market place and therefore are
considered old fashioned and not as reliable as other options in the market.
 They normally require more complex and laborious installations than any of the other type of
chiller. This increase the labour cost and the overall installation cost.
Screw
This type of chiller is still the preferred option for mid-range installations. Its popularity relays on its
reliability and its performance. In 2011 the market was estimated at 1,135 units representing the 22%
of the market.
In Spain the most typical type by cooling mode is the cooling only accounting for the 73% of the
market. Also by type the air cooled type is the model dominating the market with an estimated share
of 90% of the market.

The features which have made this chiller become so popular include:
 A reduced number of moving parts compared to other models such the reciprocating. This
includes no rolling elements, bearings and valves.
 They are considered relatively quiet, sound emissions have been reduced drastically and the
compressors is balanced verging perfection.
 Due to the reduced levels of vibration, the risk for refrigerant leaks is reduced dramatically.
 It enables to use heat recovery options.
 High output for its reduced size.
Scroll
The market for scroll type of compressors was estimated in 2011 at 3,921 units establishing a 15%
drop compared to 2010. The most popular type by cooling mode is the heat pump model accounting
for 79% of the market. Since these chillers are much cheaper than any other type they are sold easier
in the market place as they can fit in a large different number of applications. This is also the motive
why heat pumps are so popular within this particular segment.
Normally they are used in places where a small amount of oil-free and clean compressed air is needed
(i.e. drinking water-treatment facilities, specialized factories or laboratories, etc).
They do not produce a high air flow.
Among their main feature we include:
 Extremely reduced performance noise.

 Very compact shape.
 Reduced number of parts on the inside.
 Oil free designed.
 Relatively low maintenance, hardly any.
Standard centrifugal
The market for standard centrifugal compressors has been maintaining flat during the last few years.
This units and the turbocor type are normally addressed towards the largest and more energy
efficiency driven projects and new build buildings. The Spanish market accounted in 2011 for 14
units. The market value was estimated at €2.1 million.
The main advantages to be considered for centrifugal chillers are:
 Very high efficiency

 Provides lubricant free air flow
 Can reach pressures of up to 1,200psi.
 Minimum indoor maintenance.
 Lower maintenance cost.
 Adaptability to high speed if necessary.
 High resistance
 Pumping efficiency increases with speed, they are designed to work on the basis “the faster they
work the more efficient they get”.

Turbocor centrifugal
During 2011 the Spanish market for Turbocor has been maintaining flat compared to 2010. A number
of 21 estimated units were sold accounting for €4 million.
The key specifications responsible for the success of this type of compressor include:
 Oil free compressor technology (no oil running through the valves in the compressor)
 Light-weight compared to screw compressors
 Small space for the equipment to be fitted into
 Inverter control
 Better SEER (Seasonal Energy Efficiency Ratio) over an equivalent screw compressor
 Better energy efficiency rate than any other type of chiller.
The main reasons for this market contraction are:

 Tighter budget restrictions
 “Replace a component rather than substitute the whole system” type of mentality.
 Higher prices compared to other types of chiller.
Absorption (both Robur type and large type)
Currently the market for absorption chillers with a capacity higher than 100kW is dominated by
Thermax and Broad; the latter can be considered as very strong in the market overall when referring to
large power range units and large projects.
Currently the market for absorption chillers accounts for 33 units.
The market drivers are:
1. High energy efficiency rate and therefore a very low CO2 emissions ratio, making it very
attractive for energy saving and efficiency aspects projects.
2. Popularity in the southern Mediterranean countries as they can easily combine cooling and
heating, offering the option to change / substitute existing heating equipment for a new reversible
one offering both features.
One of the main barriers to expansion is a higher price compared to any other electric unit, regardless
of compressor type, making it difficult to compete with other available chiller types.
Sales of this type of chiller increase under the following circumstances:
 When there are space issues and a different type of chiller cannot be installed
 When there are problems with the electricity supply and it is insufficient, and the whole
system cannot be upgraded

Table 7 Chiller market by compressor type, volume (units), 2010-2012(E)

2010 2011 2012E
Reciprocating 7 0% 7 0% 5 0%
Screw 1,433 23% 1,135 22% 1,005 24%
Scroll 4,656 75% 3,921 76% 3,195 75%
Centrifugal 36 1% 35 1% 27 1%
(1)
Absorption 35 1% 33 1% 27 1%
Total 6,167 100% 5,131 100% 4,259 100%
Source: BSRIA
Note: Only AC applications. This may include up to 5% of chillers for mixed applications
1. Includes small absorption chillers
Table 8 Chiller market by compressor type, value (Euro million), 2010-2012(E)

2010 2011 2012E
€ million % € million % € million %
Reciprocating 0.0 0% 0.0 0% 0.0 0%
Screw 53.7 58% 43.1 56% 36.3 58%
Scroll 31.6 34% 26.7 35% 20.6 33%
Centrifugal 6.3 7% 6.1 8% 4.7 8%
(1)
Absorption 1.1 1% 1.1 1% 0.6 1%
Total 92.7 100% 77.0 100% 62.1 100%
Source: BSRIA
Table 9 Chiller market by compressor type, value (US$ million), 2010-2012(E)

2010 2011 2012E
Reciprocating 0.1 0% 0.1 0% 0.0 0%
Screw 71.3 58% 60.0 56% 50.5 58%
Scroll 42.0 34% 37.2 35% 28.7 33%
Centrifugal 8.4 7% 8.5 8% 6.5 8%
Absorption 1.4 1% 1.5 1% 0.8 1%
Total 123.1 100% 107.2 100% 86.5 100%
Source: BSRIA
3.2.3 By heat rejection method

By type of heat rejection the market is clearly dominated by the air cooled options accounting for the
92% of the market. Water sourced equipment has seen a modest increase in the past years thanks for
the enhanced controls and the more competitive price compared to the air cooled but still this trend is
expected to bounce back once the market starts recovering in a few years from now.
Air cooled type of unit tends to require more controls, larger pipe work, and over all incurs in a higher
installation cost.
Absorption chillers accounted in 2011 for an estimated figure of 33 units representing a 5% drop
compared to 2010. This type of units are addressed towards particular applications on the industrial
sector like on the pharmaceutical, chemical, paper recycling industry, also in wineries, in the bottling
industry, homeopathic centres, and also combined with co and tri generation projects.

Table 10 Chiller market by heat rejection method, volume (units), 2010-2012(E)

2010 2011 2012E
Air cooled 5,725 4,725 3,930
(1)
Water cooled 407 373 302
(2)
Absorption 35 33 27
Total 6,167 5,131 4,259
Source: BSRIA
1. Incl. condenserless
Table 11 Chiller market by heat rejection method, value (Euro million), 2010-2012(E)
2010 2011 2012E
Air cooled 78.9 63.6 52.0
(1)
Water cooled 12.7 12.4 9.6
(2)
Absorption 1.1 1.1 0.6
Total 92.7 77.0 62.1
Source: BSRIA
Table 12 Chiller market by heat rejection method, value (US$ million), 2010-2012(E)
2010 2011 2012E
Air cooled 104.8 88.5 72.3
(1)
Water cooled 16.9 17.2 13.4
(2)
Absorption 1.4 1.5 0.8
Total 123.1 107.2 86.5
Source: BSRIA
Figure 6 Chiller market by heat rejection method, volume and value, 2011
Volume (units) Value (€ million)
Source: BSRIA

3.2.4 Amount of chillers with free cooling option

Free cooling chillers are being used when the ambient conditions allow the use of such equipment.
There is gradual movement towards their use though initial capital price is normally the key driver in
the current economic conditions.
Table 13 Cross analysis of chiller market by size, type and heat rejection, volume, 2010
<17.5 17.6-50 51-100 101-200 201-350 351-500 501-700 701-900
>901 kW Total
kW kW kW kW kW kW kW kW
Reciprocating
- air cooled 2 1 1 0 0 0 0 0 0 4
(2)
- water cooled 2 1 0 0 0 0 0 0 0 3
Total reciprocating 4 2 1 0 0 0 0 0 0 7
Screw
- air cooled 0 0 0 167 539 290 197 60 71 1,324
- water cooled (2) 0 0 0 11 40 25 14 11 8 109
Total screw 0 0 0 178 579 315 211 71 79 1,433
Scroll
- air cooled 1,539 1,424 769 573 71 8 7 6 0 4,397
(2)
- water cooled 102 72 46 30 6 3 0 0 0 259
Total scroll 1,641 1,496 815 603 77 11 7 6 0 4,656
Standard
Centrifugal (1)
- air cooled 0 0 0 0 0 0 0 0 0 0
(2)
- water cooled 0 0 0 0 0 0 0 0 13 13
Turbocor
Centrifugal (4)
- air cooled 0 0 0 0 0 0 0 0 0 0
- water cooled (2) 0 0 0 0 2 7 8 4 2 23
Total centrifugal 0 0 0 0 2 7 8 4 15 36
(3)
Total Absorption 6 15 7 2 1 2 0 0 2 35
Totals
- air cooled 1,541 1,425 770 740 610 298 204 66 71 5,725
- water cooled (2) 104 73 46 41 48 35 22 15 23 407
- absorption (3) 6 15 7 2 1 2 0 0 2 35
Grand total 1,651 1,513 823 783 660 335 226 81 96 6,167
Source: BSRIA
1. Condenserless centrifugal not available
2. Includes condenserless
4. Magnetic bearing centrifugal compressor; all brands, not just the compressor developed by Danfoss Turbocor.
JCI (York) are currently manufacturing their own compressor

Table 14 Cross analysis of chiller market by size, type and heat rejection, volume, 2011
17.6-50 51-100 101-200 201-350 351-500 501-700 701-900
<17.5 kW >901 kW Total
kW kW kW kW kW kW kW
Reciprocating
- air cooled 2 1 1 0 0 0 0 0 0 4
- water cooled (2) 1 2 0 0 0 0 0 0 0 3
Screw
- air cooled 0 0 0 160 396 217 135 55 68 1,031
- water cooled (2) 0 0 0 12 35 21 16 12 8 104
Total screw 0 0 0 172 431 238 151 67 76 1,135
Scroll
- air cooled 1,235 1,280 599 498 55 7 9 7 0 3,690
(2)
- water cooled 90 68 42 21 5 5 0 0 0 231
Total scroll 1,325 1,348 641 519 60 12 9 7 0 3,921
Standard
Centrifugal (1)
- air cooled 0 0 0 0 0 0 0 0 0 0
(2)
- water cooled 0 0 0 0 0 0 0 0 14 14
Turbocor
Centrifugal (4)
- air cooled 0 0 0 0 0 0 0 0 0 0
(2)
- water cooled 0 0 0 0 3 5 8 3 2 21
(3)
Totals
- air cooled 1,237 1,281 600 658 451 224 144 62 68 4,725
- water cooled (2) 91 70 42 33 43 31 24 15 24 373
- absorption (3) 1 2 2 2 5 5 8 3 5 33
Grand total 1,329 1,353 644 693 499 260 176 80 97 5,131
Source: BSRIA
1. Condenserless centrifugal and absorption not available

Table 15 Cross analysis of chiller market by size, type and heat rejection, volume, 2012(E)
17.6-50 51-100 101-200 201-350 351-500 501-700 701-900
<17.5 kW >901 kW Total
kW kW kW kW kW kW kW
Reciprocating
- air cooled 2 1 0 0 0 0 0 0 0 3
- water cooled (2) 1 1 0 0 0 0 0 0 0 2
Screw
- air cooled 0 0 0 132 370 203 122 38 52 917
- water cooled (2) 0 0 0 9 25 19 16 11 8 88
Total screw 0 0 0 141 395 222 138 49 60 1,005
Scroll
- air cooled 1,054 1,194 432 267 45 5 7 6 0 3,010
(2)
- water cooled 76 54 32 17 3 3 0 0 0 185
Total scroll 1,130 1,248 464 284 48 8 7 6 0 3,195
Standard
Centrifugal (1)
- air cooled 0 0 0 0 0 0 0 0 0 0
(2)
- water cooled 0 0 0 0 0 0 0 0 8 8
Turbocor
Centrifugal (4)
- air cooled 0 0 0 0 0 0 0 0 0 0
(2)
- water cooled 0 0 0 0 2 4 7 3 3 19
Totals
- air cooled 1,056 1,195 432 399 415 208 129 44 52 3,930
- water cooled (2) 77 55 32 26 30 26 23 14 19 302
- absorption 1 1 1 1 4 5 6 4 4 27
Grand total 1,134 1,251 465 426 449 239 158 62 75 4,259
Source: BSRIA
1. Condenserless centrifugal and absorption not available

Figure 7 Chillers by size and type of compressor, volume, 2011
Source: BSRIA
Figure 8 Chillers by size and type of compressor, % by volume, 2011
Source: BSRIA
3.2.5 By heat pump versus cooling only

The Spanish market is dominated by the heat pumps units which account for the 67% of the market.
The reason behind this relays on the large amount of units sold across the scroll segment including
heat pump what increases the total share considerably. Most units from 75kW and below tend to
include heat pump option most of the time, bearing in mind these low power range segments
concentrate the largest amount of sales among the chillers market. Once the units start to grow on size
is not common the heat pump option is demanded on the equipment. The larger units normally are
cooling only type.
Cooling only are thought to have increased faintly their share as their price is cheaper , also due to the
budget restrictions end user is characterized by nowadays heat pumps in some cases have become the
second option for end users.

Heat pumps units are normally addressed towards residential and light commercial applications
whereas cooling only type tends to be sold along the commercial and industrial applications.
Table 16 Chiller market by heat pump versus cooling only and type, volume (units), 2010-
2012(E)
2010 2011 2012E
Reciprocating
cooling only 2 35% 2 33% 2 32%
heat pump 5 65% 5 67% 3 68%
Screw
cooling only 1,089 76% 829 73% 740 74%
heat pump 344 24% 306 27% 265 26%
Scroll
cooling only 978 21% 823 21% 681 21%
heat pump 3,678 79% 3,098 79% 2,514 79%
Centrifugal
cooling only 36 100% 35 100% 27 100%
heat pump 0 0% 0 0% 0 0%
Absorption
cooling only 30 85% 25 75% 21 77%
heat pump 5 15% 8 25% 6 23%
Total
cooling only 2,135 35% 1,714 33% 1,470 35%
heat pump 4,032 65% 3,417 67% 2,789 65%
Grand total 6,167 100% 5,131 100% 4,259 100%
Source: BSRIA
Table 17 Chiller market by heat pump versus cooling only and type, value (Euro million), 2010-
2012(E)
2010 2011 2012E
Reciprocating
cooling only 0.0 34% 0.0 31% 0.0 27%
heat pump 0.0 66% 0.0 69% 0.0 73%
Screw
cooling only 40.5 76% 30.9 72% 26.3 73%
heat pump 13.2 25% 12.1 28% 10.0 28%
Scroll
cooling only 5.7 18% 4.7 18% 3.5 17%
heat pump 25.9 82% 22.0 82% 17.0 83%
Centrifugal
cooling only 6.3 100% 6.1 100% 4.7 100%
heat pump 0.0 0% 0.0 0% 0.0 0%
Absorption
cooling only 0.8 73% 0.6 58% 0.3 58%
heat pump 0.3 27% 0.4 42% 0.2 42%
Total
cooling only 53.3 58% 42.4 55% 34.9 56%
heat pump 39.4 42% 34.6 45% 27.3 44%
Grand total 92.7 100% 77.0 100% 62.1 100%
Source: BSRIA

Table 18 Chiller market by heat pump versus cooling only and type, value (US$ million), 2010-
2012(E)
2010 2011 2012E
Reciprocating
cooling only 0.0 34% 0.0 31% 0.0 27%
heat pump 0.0 66% 0.0 69% 0.0 73%
Screw
cooling only 53.8 76% 43.0 72% 36.6 73%
heat pump 17.5 25% 16.9 28% 13.9 28%
Scroll
cooling only 7.6 18% 6.6 18% 4.9 17%
heat pump 34.4 82% 30.6 82% 23.7 83%
Centrifugal
cooling only 8.4 100% 8.5 100% 6.5 100%
heat pump 0.0 0% 0.0 0% 0.0 0%
Absorption
cooling only 1.0 73% 0.8 58% 0.5 58%
heat pump 0.4 27% 0.6 42% 0.3 42%
Total
cooling only 70.8 58% 59.0 55% 48.5 56%
heat pump 52.3 42% 48.2 45% 38.0 44%
Grand total 123.1 100% 107.2 100% 86.5 100%
Source: BSRIA
Figure 9 Chiller market by heat pump versus cooling only and type, volume and value, 2011
Volume (units) Value (€ million)
Source: BSRIA

3.2.6 Process chillers
Table 19 Process chillers by application, volume & value, 2011

Volume % Value %
A/C chillers 63% 62%
Process chillers 31% 31%
Chillers used for A/C and process 7% 8%
Total 100% 100%
Source: BSRIA
Table 20 Process chillers by size, volume, 2011

Volume %
 100 kW 62%
101 kW – 400 kW 27%
> 401 kW 11%
Total 100%
Source: BSRIA
3.2.7 By type of refrigerant

The route line created in order to meet the requirements for phasing out the R22 type of refrigerant
contains three stages. The market is currently under the third stage. The three stages are detailed as
follows:
1. 2005-2008: The refrigerant can only be used in existing equipment (not in new equipment) but
only in “new” or “recover” options.
2. From 2008: The “new” option will be banned and only the “recover” option will be allowed.
3. From January 1st 2010 to January 1st 2015, the refrigerant will be allowed in its recycled variant to
help either adapt the existing R-22 equipment to a new type of refrigerant or replace the
equipment with the new one. Also, it brings new opportunities to maintain and recharge them.
Existing and currently running equipment will need to become compatible with either R-407C or
other alternatives or otherwise be replaced. From January 1st 2015 no HCFC gas can be used even
in its recycled variant for maintenance including equipment purchased before the mentioned date.
Once the HCFC are recovered by certified stuff the entitled companies have two options to choose
between:
1. Reuse the gas in case this company has the technology and the equipment necessary for its right
cleaning process. These recycled variant can only be used within the same range of equipment
from the company it was recovered form (i.e. in any equipment of a supermarket chain) or the
company might employ it to use it under an equipment of similar characteristics but never to be
sold.
2. Return the gas to a waste management company for its destruction or for its regeneration (not
recycled variants) to be sold afterwards.
Since 2011 there is an existing Royal Decree (795/2.010) related to fluoride gas which brought to the
table a new certification scheme mandatory for all the companies and agents who use, operate,
purchase or sell any type of refrigerant destined for refrigeration and air conditioning installations.

The companies and their employees must be entitled (through certificate) to work with refrigerants;
there are two existing categories:
1. Certificate up to 3Kg of refrigerants (equivalent to the old RITE certificate).
2. Certificate to operate with any amount of refrigerant (equivalent to the old “frigorista” certificate).
In most countries basically the products orientated towards the residential and light commercial side of
the market tend to run with R-410 and in some cases with R-407. Equipment designed for large
commercial and industrial applications attend to run with R-134A and some units with a variant from
R-22. Listed below are the basic differences of the main type of refrigerant used within the Spanish
industry compared to R-22.
R-134A:
 Relatively low pressure gas
 Lower steam density
 Low heat transfer
 Lower isentropic compressor efficiency
R-407C:
 Same pressure
 Same steam density
 Same heat transfer
 Same isentropic compressor efficiency
R-410A:
 Higher pressure
 Higher steam density
 Higher Delta P heat transfer
 Enhanced isentropic compressor efficiency
Recently the EU Commission has issued a proposal for replacing the current F-Gas regulation
(842/2006). In case it’s finally approved it will be enforced by January 1st 2014. The key new points
contained within in the proposal worth to mention include:
 The focus is on phasing down HFCs and to reduce by 2030 the bulk supply of HFC’s by 21% of
the 2008-2011 levels sold in the EU.
 After 3 years following the entry force of this regulation (earliest January 2017), non-hermetically
sealed appliances on HFC have to be charged at place of installation (this applies to heat pumps,
splits and VRF for example).
 Movable AC equipment using HFC with GWP of 150 or more will be banned from 2020 and
onwards.

Table 21 Chiller market by refrigerant and type, % of sales by volume, 2011

Reciprocating Screw Scroll Centrifugal
R22 0% 0% 0% 0%
R407C 5% 5% 25% 0%
R134A 15% 85% 0% 100%
R410A 80% 10% 75% 0%
Other 0% 0% 0% 0%
Total 100% 100% 100% 100%
Source: BSRIA
3.3 AIR HANDLING UNITS
3.3.1 Overview
In 2011 the AHU market was estimated to account for 8,586 units and valued at €39.3 million. The
market performance reflects a11% and 4.8% declines respectively.
The Spanish market is still dominated by the heating and cooling option as most applications tend to
require both features to cover the full year demands. This option holds a share of 84% in the market.
Heating only, cooling only and ventilation units are normally addressed towards more specialized end
user segments such as pharmaceutical, food processing, and chemical, all these options grouped
account for the remaining 16% of the market.
Currently the market can be considered as highly driven by the price. Due to the economic situation
the country has been facing for the last few years, end users for this product tend not to have major
budgets to push for higher quality products or components. A reflection of this could be the extended
use of flat plate type of heat recovery option instead of more efficient options as the thermal wheel.
Since the market is controlled by local manufacturers the drop on the value of the market has not been
as accentuated as in other segments. These players are able to maintain prices on the market without
decreasing their quality levels enabling them to adapt the prices but in any case drop them drastically
to capitalize sales.
There is an increasing trend in the market towards plug and play units easing the installer role up. By
this the units arrive from factory ready to be installed, plug and play, so that the installer, in the case
they are not knowledgeable about the product, can fit the equipment and leave it running with
incurring in major issues. These plug and play units also allow the end user to be less dependent form
the installer.
3.3.2 By type
The market is characterized by the high demand on bespoke units accounting for the 98% of the
market. Standard units account for the remaining 2% and are addressed for applications not requiring
high levels of air quality, not including heat recovery options and in most cases to be placed in single
wall type of installations.
The customized or bespoke type of unit is characterized for offering high flexibility when designing
them. Also they can be re-assembled on site for greater flexibility on space restricted sites. Among the
features and options available for the end user we include:
 Integral desiccant wheels.

 Run-around heat recovery coils.
 Heat pipe coils.
 Air-to-air heat exchangers.

Table 22 Air handling units by type, volume (units), 2010-2012(E)

2010 2011 2012E
Standard 212 2% 197 2% 175 2%
Bespoke 9,435 98% 8,389 98% 7,123 98%
Total 9,647 100% 8,586 100% 7,298 100%
Source: BSRIA
Table 23 Air handling units by type, value (Euro million), 2010-2012(E)

2010 2011 2012E
Standard 0.4 1% 0.4 1% 0.3 1%
Bespoke 40.9 99% 38.9 99% 33.7 99%
Total 41.3 100% 39.3 100% 34.0 100%
Source: BSRIA
Table 24 Air handling units by type, value (US$ million), 2010-2012(E)

2010 2011 2012E
Standard 0.5 1% 0.5 1% 0.5 1%
Bespoke 54.3 99% 54.2 99% 46.9 99%
Total 54.8 100% 54.7 100% 47.4 100%
Source: BSRIA
3.3.3 Compact units

There is an existing trend on the market for the plug and play units which in most cases include the
lower volume units (small units). The share of these units in the market is difficult to determine but in
any case refers to a big number. The size of these units is in any case no larger than 1.53 m³/s.
3.3.4 By size and type

The most popular size for air handling units within the Spanish market falls into the 2.37 to 4.25 m³/s
representing the 39% of the total market sales. The higher segments ranged from 6.62 m³/s and above
account for only 10% of the market. These large units tend to go addressed for particular and complex
applications.
This segment hold a big chunk of the value as the units being more complex incur in much higher
prices than the smaller units.
Table 25 Air handling units by size, volume (units), 2010-2012(E)

2010 2011 2012E % of total 2011
<0.83 m³/s 0 0 0 0%
0.84 - 1.53 m³/s 1,042 1,065 898 12%
1.54 - 2.36 m³/s 1,988 1,777 1,525 21%
2.37 - 4.25 m³/s 3,782 3,349 2,854 39%
4.26 - 6.61m³/s 1,640 1,468 1,263 17%
6.62 - 9.44 m³/s 598 446 365 5%
9.45 – 18.90 m³/s 376 301 248 4%
>18.90 m³/s 221 180 146 2%
Total 9,647 8,586 7,298 100%
Source: BSRIA

Table 26 Air handling units by size, value (Euro million), 2010-2012(E)

2010 2011 2012E % of total 2011
<0.83 m³/s 0.0 0.0 0.0 0%
0.84 - 1.53 m³/s 1.6 1.9 1.7 5%
1.54 - 2.36 m³/s 5.1 4.7 4.3 12%
2.37 - 4.25 m³/s 13.5 13.0 11.2 33%
4.26 - 6.61m³/s 8.8 9.2 8.0 23%
6.62 - 9.44 m³/s 4.4 3.7 3.1 9%
9.45 – 18.90 m³/s 4.7 4.2 3.6 11%
>18.90 m³/s 3.3 2.8 2.2 7%
Total 41.3 39.3 34.0 100%
Source: BSRIA
Table 27 Air handling units by size, value (US$ million), 2010-2012(E)

2010 2011 2012E % of total 2011
<0.83 m³/s 0.0 0.0 0.0 0%
0.84 - 1.53 m³/s 2.1 2.6 2.4 5%
1.54 - 2.36 m³/s 6.7 6.6 5.9 12%
2.37 - 4.25 m³/s 17.9 18.1 15.5 33%
4.26 - 6.61m³/s 11.7 12.8 11.1 23%
6.62 - 9.44 m³/s 5.8 5.1 4.3 9%
9.45 – 18.90 m³/s 6.2 5.8 5.0 11%
>18.90 m³/s 4.4 3.8 3.1 7%
Total 54.8 54.7 47.4 100%
Source: BSRIA
3.3.5 By heat recovery option

This option has been increasing year on year overall motivated by the prompts and support from the
local energy agencies. In 2011 the heat recovery market for air handling units accounted for an
estimated 57% of the market. There has been a significant increase and is expected a major one to take
place as soon as the market starts to absorb the level of projects it used to do a few years ago.
Among the different options available in the market place, plate heat exchangers are the most popular
by far. The reason behind this is their lower price compared to the rest of existing options. Currently
its share accounts for the 68% of the market followed by the thermal wheel which represents the 18%
of the market.
The key features of the Plate heat exchanger include:
 Description: Air-to-air plate heat exchanger. Modulation control is achieved by means of a

bypass. This is the most popular type of heat recovery option in the Spanish market.
 Heat recovery efficiency: 50%-80%
 Typical face velocity/m*s-1: 1-5
 Cross leakage: 0%-5%
 Typical pressure drop/ Pa: 25-370.

Table 28 Air handling units by heat recovery option, volume (units), 2010-2012(E)
2010 2011 2012E
Without heat recovery 5,788 60% 3,692 43% 2,846 39%
Total with heat recovery 3,859 40% 4,894 57% 4,452 61%
With heat recovery
- plate heat exchangers 2,508 65% 3,328 68% 3,094 70%
- thermal wheel 772 20% 881 18% 757 17%
- run-around coil 579 15% 685 14% 601 14%
- other * 0 0% 0 0% 0 0%
Total AHU 9,647 100% 8,586 100% 7,298 100%
Source: BSRIA
Note: * includes regenerator and heat pipe
Table 29 Air handling units by heat recovery option, value (Euro million), 2010-2012(E)
2010 2011 2012E
Without heat recovery 21.3 52% 13.8 35% 10.6 31%
With heat recovery 20.0 49% 25.6 65% 23.4 69%
Total 41.3 100% 39.3 100% 34.0 100%
Source: BSRIA
Table 30 Air handling units by heat recovery option, value (US$ million), 2010-2012(E)
2010 2011 2012E
Without heat recovery 28.2 52% 19.2 35% 14.8 31%
With heat recovery 26.6 49% 35.6 65% 32.5 69%
Total 54.8 100% 54.7 100% 47.4 100%
Source: BSRIA
3.3.6 By application
Table 31 Air handling units by application, volume (units), 2010-2012(E)

2010 2011 2012E
Cooling only 907 764 635
Heating and cooling 8,094 7,238 6,152
Heating only (no cooling coil) 222 206 182
Ventilation only 424 378 328
Total 9,647 8,586 7,298
Source: BSRIA

Table 32 Air handling units by application, value (Euro million), 2010-2012(E)

2010 2011 2012E
Cooling only 2.8 2.7 2.1
Heating and cooling 36.1 34.2 29.8
Heating only (no cooling coil) 0.9 0.9 0.8
Ventilation only 1.6 1.6 1.4
Total 41.3 39.3 34.0
Source: BSRIA
Table 33 Air handling units by application, value (US$ million), 2010-2012(E)

2010 2011 2012E
Cooling only 3.7 3.7 3.0
Heating and cooling 47.9 47.6 41.4
Heating only (no cooling coil) 1.2 1.2 1.1
Ventilation only 2.1 2.2 1.9
Total 54.8 54.7 47.4
Source: BSRIA
3.3.7 By zone configuration

By zone configuration the Spanish market is clearly dominated by the single zone, representing the
95% of the market sales. The reason for its popularity relays on the fact that are cheaper than the rest
of the options. Multi zone and twin ducted tend to be more expensive and they increase the labour
boosting the installation cost.
Multi zone type is normally installed in applications which require a higher demand of air flow and a
higher overall air supply quality; is normally addressed towards hospitals and industrial applications
(chemical and pharmaceutical). However the amount of energy needed to run is considered to be high
as for the two batteries it needs, one for cooling and one for heating. Twin ducted on the other hand is
becoming less and less attractive for the end user as for the high energy loss rate compared to other
options.
Table 34 Air handling units by type of installation, volume (units), 2010-2012(E)

2010 2011 2012E % share 2011
Single zone 9,068 8,114 6,926 95%
Multi zone 386 326 263 4%
Twin duct 193 146 109 2%
Total 9,647 8,586 7,298 100%
Source: BSRIA
3.3.8 By wall construction

Single and double wall types are often used in commercial stores and shopping centres, generally in
places where a considerably high noise reduction is needed. Their share in the market is estimated at
79%, where 6% goes to the single wall segments and 73% goes to the double type, by far the most
popular within the Spanish industry.
Triple wall type is the most complex which tend to be fitted with custom units; they afford a high level
of comfort and noise reduction, which is important in certain sectors, such as medical centres,
hospitals, police stations etc.

Table 35 Air handling units by wall construction (skin), volume (units), 2010-2012(E)
2010 2011 2012E % share 2011
Single wall 675 498 365 6%
Double wall 7,013 6,268 5,401 73%
Triple wall 1,958 1,820 1,533 21%
Total 9,647 8,586 7,298 100%
Source: BSRIA
3.4 FAN COILS
3.4.1 Overview
The lack of construction projects has blocked the fan coil market for further expansion. This market is
highly conditioned by how the chiller market performs resulting in steady declines for the last few
years. This situation has not changed during 2011 where the market was estimated at 63,035 units
establishing a -8% growth compared to 2010.
This situation plus the competition experienced from the direct expansion systems has forced the
market to reduce tis number of sales.
With regards to the ASP fan coils have been maintaining basically flat for the last years adjusting to
the tough current moment in order to maintain their competitiveness.
3.4.2 By design
Concealed type is still the most popular model accounting for the 60% of the market whereas cased
type account for the remaining 40%. Concealed type extends its market share thanks to the units
allocated towards the hotel sector, which tends to demand a substantial amount of units for its use.
These units are branded featuring a higher noise reduction when running the system, a reduced size
models and a better and enhanced designs becoming extremely attractive for the end user.
On the other hand, cased type of fan coils maintains its competition levels towards the concealed type.
One of this segments edge is potential of the chilled water cassettes the only model capable of
compete against direct expansion systems.
Low power range fan coils are normally addressed towards the residential light commercial side of the
market including bars, small cafeterias, retail stores etc… Mid and high power range fan coils tend
normally to be fit in hotels, hospitals, offices, banks etc… and are known by comprising power ranges
from 5kW up to 9kW.
Water chilled cassette type still accounts for the largest share within the cased segment accounting for
the 38% of this segment.

Table 36 Fan coil market by value (Euro million), 2010-2012(E)

2010 2011 2012E
By design
- Concealed 10.9 10.8 9.2
- Cased 9.4 7.7 6.4
By mode
- Two pipe 6.3 5.8 4.9
- Four pipe 14.0 12.8 10.7
Total 20.3 18.6 15.6
Source: BSRIA
Table 37 Fan coil market by value (US$ million), 2010-2012(E)

2010 2011 2012E
By design
- Concealed 14.5 15.1 12.8
- Cased 12.5 10.8 8.9
By mode
- Two pipe 8.4 8.0 6.8
- Four pipe 18.6 17.8 14.9
Total 27.0 25.8 21.7
Source: BSRIA
Table 38 Fan coil market by design (chilled water only), volume (units), 2010-2012(E)
2010 2011 2012E
CONCEALED chassis
- horizontal/ceiling 37,528 37,259 31,581
- vertical/floor or wall 1,321 1,192 977
Total concealed 38,849 38,451 32,558
CASED minisplit indoor unit type (chilled water only)
Traditional:
- horizontal wall (hi-wall) 1,810 1,623 1,205
- horizontal floor (console type) 7,714 6,269 4,838
- horizontal ceiling 1,305 910 669
- chilled water cassettes 11,185 9,391 7,362
- vertical floor or wall 7,654 6,392 5,048
Total cased minisplit indoor unit type 29,667 24,584 19,121
Grand total 68,516 63,035 51,679
Source: BSRIA
3.4.3 By mode and number of pipes

The most popular type of fan coil by mode is the cooling and heating model holding the vast majority
of the sale, a 97% estimated ratio compared to the other alternatives available in the market place. End
user sees more efficient to install one single unit suitable for all seasons providing heating in winter
time and cooling in summer time.
By the number of pipes, 4 pipe type still dominates the market. This is because of its high performance
capable of delivering a higher comfort level than the rest of the models. The only barrier blocking this
model for flooding the market is the higher price compared to the 2 pipe type, the first one has the
double of components and parts than the 2 pipe type hence the higher price on the unit and on the
installation.

Table 39 Fan coil market analysed by mode and number of pipes, volume (units), 2010-2012(E)
2010 2011 2012E
Cooling Cooling Cooling
Cooling Heating Cooling Heating Cooling Heating
(1) and Total and Total and Total
only only only only only only
heating heating heating
2-pipe 1,918 19,047 0 20,965 1,891 17,487 0 19,378 1,550 14,537 0 16,088
2-pipe
with
electric 0 999 0 999 0 856 0 856 0 702 0 702
heating
coil
4-pipe 0 46,552 0 46,552 0 42,801 0 42,801 0 34,890 0 34,890
Total 1,918 66,598 0 68,516 1,891 61,144 0 63,035 1,550 50,129 0 51,679
Source: BSRIA
Note: 1. Excludes fan convectors that cannot be configured to cooling
3.4.4 By type of control

The Spanish market is highly driven by the factory fitted type of controls. This easies up the installer
labour and also reduces the installation cost. However when space restriction occur these controls are
likely to be fitted by the installer on site in order to avoid further problems. Water type of controls
continue to be popular than the air type accounting for the 91% and the 9% of the market respectively.
All the units sold in the market are regarded to be unit mounted where sales for remote type of
controls remain negligible.
Table 40 Fan coil market by type of control, volume (units), 2010-2012(E)

2010 2011 2012E
Remote Unit Total Remote Unit Total Remote Unit Total

mounted mounted mounted
Waterside control-
0 17,403 17,403 0 15,633 15,633 0 12,558 12,558
installer-fitted
Waterside control-
0 45,084 45,084 0 41,855 41,855 0 34,522 34,522
factory-fitted
Airside control 0 6,029 6,029 0 5,547 5,547 0 4,599 4,599
Total 0 68,516 68,516 0 63,035 63,035 0 51,679 51,679
Source: BSRIA
3.5 OTHER TERMINAL UNITS

In 2011 the Spanish market for VAV was estimated at 2,440 units and was valued at €3.1 million. The
market suffered a further contraction, establish at 3.8% and 8.8% respectively. The drop on the prices
is the result of higher discounts and tougher competition among the players involved in the market.
The market for other terminal units accounted in 2011 for 6,519 units establishing a -4.6% growth rate
compared to the previous year. Water sourced consoles is a product directly related to the water
sourced chillers, their performance reflects a decline which is expected to continue until the chiller
market starts recovering.

Table 41 Other terminal units, volume (units) of the market, 2010-2012(E)

2010 2011 2012E
VAV 2,158 2,079 1,855
Fan assisted VAV 381 361 317
Total VAV 2,539 2,440 2,172
Other non VAV:
- Constant volume 3,788 3,623 3,273
- Induction 0 0 0
(1)
- Water sourced large packaged 0 0 0
(1)
- Water sourced consoles 3,050 2,894 2,592
Total other non VAV 6,838 6,517 5,865
Source: BSRIA
Note: 1. Water based terminal units with built in compressor – see room based heat pump in BSRIA
publication “An Illustrated Guide to Building Services”.
Table 42 Other terminal units, value (Euro million) of the market, 2010-2012(E)
MSP € MSP € MSP €
€ million € million € million
2010 2011 2012E
VAV 2.8 2.5 2.2 1,283 1,205 1,176
Fan assisted VAV 0.6 0.6 0.5 1,650 1,574 1,551
Total VAV 3.4 3.1 2.7 1,338 1,259 1,231
Other non VAV: 0 0 0
- Constant volume 1.7 1.5 1.3 448 413 407
- Induction 0.0 0.0 0.0 0 0 0
(1)
- Water sourced large packaged 0.0 0.0 0.0 0 0 0
(1)
- Water sourced consoles 3.3 2.9 2.5 1,077 991 980
Total other non VAV 5.0 4.4 3.9 729 670 660
Source: BSRIA
Note: 1. Water based terminal units with built in compressor
Table 43 Other terminal units, value (US$ million) of the market, 2010-2012(E)
US$ US$ US$ MSP US$- MSP US$- MSP US$-
million million million 2010 2011 2012E
VAV 3.7 3.5 3.0 1,703 1,677 1,638
Fan assisted VAV 0.8 0.8 0.7 2,191 2,192 2,160
Total VAV 4.5 4.3 3.7 1,777 1,754 1,714
Other non VAV: 0 0 0
- Constant volume 2.3 2.1 1.9 596 575 567
- Induction 0.0 0.0 0.0 0 0 0
(1)
- Water sourced large packaged 0.0 0.0 0.0 0 0 0
(1)
- Water sourced consoles 4.4 4.0 3.5 1,430 1,380 1,364
Total other non VAV 6.6 6.1 5.4 968 933 919
Source: BSRIA
Note: 1. Water based terminal units with built in compressor

4 MAJOR COMPANIES
4.1 OVERVIEW
The Spanish market for central plant products is composed by a large group of companies. The
involvement level from local companies is much greater in this segment than in the residential one.
Some of these companies hold a large product portfolio enabling to be present in more segments
across the market like Carrier and Trane.
Some other companies are extremely focused in particular segments of the market. This is the case of
Trox, Broad, Thermax, Tecnivel, System Air, Sevoclima or Schako among others.
The AHU is the most fragmented including among it the larger number of local manufacturers.
The market still holds high competition levels due to the stiff market conditions. When tendering for a
particular project most players adapt aggressive strategies in order to capitalize the sale, this as a result
brings large discounts on the equipment and installations, special deals for maintenance etc… In the
vast majority of the cases the profit of a certain operation might not be as high as it used to be a few
years ago but at least keeps the business running.
The air handling unit market keeps being dominated by local companies like Termoven or Tecnivel
which are able to compete against prime companies as for the relatively low operational cost they hold
within their structure enabling them to offer more competitive prices, also end user perceives them as
highly reliable for maintenance and post selling service as they operate across the whole national
territory.
4.2 CHILLERS
Scroll and screw segments are the most populated due to its larger market size compared to other
segments. These segments include companies which are also involved in the residential segments as
well. The most relevant companies involved in this market include Toshiba – Carrier, Trane, JCI
(Clima Roca York), Climaventea. Local players include Termoven and Ciatesa. McQuay who was
holding lower positions in the market has finally started to grow within the scroll and screw markets
overall.
The segment for centrifugal type of chillers includes as its key suppliers: Climaveneta, Toshiba-
Carrier, Trane and JCI.
With regards to the absorption segment, the group of brands represented in Spain by Thermax
(Yakazi, Robur and Thermax itself) sustain the larger share of the market. After reaching a European
agreement Thermax is currently dealing with Trane absorption projects, after this latter one left behind
this segment.
Thermax predominant position in the market is based on the fact that the company is able to offer any
type of absorption chiller through any of the brands it represents Robur (direct type) and Yakazi (hot
water in-direct fired type).Thermax itself holding a high expertise in the in-direct hot water and
exhaust gas types. Thermax tends to supply customized ad-hoc units in the vast majority of the cases
adapting the needs of each installation to a specific unit.

Trane
Avda Andalucia
Km 10300,
28021 - Madrid
Tel: +34 914 28 82 22
Fax : +34 914 28 82 02
 Trane is second behind Carrier in the screw chiller market/ particularly chillers over 350kW,
where Trane’s technical expertise can be best capitalised. They have a strong after sales service.
 Category: International-Generalist supplier
 The company is starting to focus and expand its maintenance and servicing structure.
 The company is also involved in other different residential and commercial segment such VRF,
roof tops and indoor packaged.
 Trane imports most of the chillers from Italy, France and the USA.
 Staff: 109.
Toshiba-Carrier
P.E.La Finca, PºClub Deportivo,1, bloque-16, 2ª.
28223 Pozuelo de Alarcón-Madrid (España).
Tel: +34 915209300
 Toshiba-Carrier (Carrier España SL) is one of the leaders in the Spanish chiller market.
Categorized as International-Generalist supplier.
 It imports most of its chillers from Italy and France.
 Carrier Corporation merged its activities with Chinese manufacturer Midea in a joint venture in
China. Foshan Midea Carrier will build split systems exclusively for Carrier for the global market.
Midea will hold 60% stake in the new company and will manufacture small ductless split air
conditioners.
 Carrier holds a dominant position across all ranges except for the centrifugal market.
 Has a good global back-up and image.
 High expertise in the service and maintenance areas.
 Extensive product portfolio, its latest releases include AQUASNAP inverter chiller and heat
pumps.
 Brand visibility present in all the markets and across all sectors
o Large base of technical staff
o 25% of their business is maintenance.

Table 44 Market leaders for chillers by size, by value, 2011/12

All chillers <100 kW 101-350 kW >351 kW
Market leaders Trane Trane Trane Climaveneta
(descending order) Climaveneta Climaveneta Climaveneta Trane
Carrier Carrier Carrier Carrier
JCI JCI JCI JCI
Termoven Termoven Termoven Termoven
Their share 60% 65% 60% 65%
Other significant Ciatesa Ciatesa Ciatesa Ciatesa
companies Clivet Hitecsa Airwell Airwell
(descending order) Airwell Clivet McQuay McQuay
McQuay Thermax Clivet Clivet
Hitecsa Broad Hitecsa Thermax
Thermax Yakazi Thermax Broad
Broad Climasveneta Broad Yakazi
Yakazi Lennox Yakazi Hitecsa
Robur Robur Robur Robur
Climasveneta Airwell
Lennox Hitsa Topair
Hitsa Topair
Source: BSRIA
Table 45 Market leaders for chillers by type of compressor, by value, 2011/12

(1)
Reciprocating Screw Scroll Standard Turbocor Absorption
Centrifugal Centrifugal
Market Ciatesa Trane Trane Trane Climaveneta Thermax
leaders Climasveneta Climaveneta Climaveneta McQuay McQuay Broad
(descending Lennox Carrier Carrier Carrier
order) Airwell JCI JCI Yakazi
Hitsa Topair Termoven Termoven Robur
Their share 85% 60% 65% 75% 75% 95%
Other Airwell Ciatesa Others Others Others
significant Ciatesa Hitecsa
companies McQuay Clivet
(descending Clivet
order)
Source: BSRIA
Note: 1. Includes small absorption chillers
Table 46 Local producing market leaders for chiller products, by value, 2011/12
All chillers < 350 kW >351kW
JCI (Clima Roca York) JCI (Clima Roca York) JCI (Clima Roca York)
Ciatesa Ciatesa Ciatesa
Market leaders Hitecsa Hitecsa Hitsa
(descending order) Hitsa Hitsa Topair
Topair Topair
Source: BSRIA

4.2.1 Key company trends in air conditioning chillers

Most companies involved in the chiller market are companies well established for many years now in
the local industry. The threat for new entrants is relatively low as competition levels are high.
It is expected that McQuay, helped by the Daikin well established reputation in the market, will
increase its share and will place itself in a more competitive position than the one held nowadays. One
of its key of success relays on the fact that despite the product quality level hold by the brands they are
backed up for a large installer network provided by Daikin which enables them to provide a fairly
consistent and solid post selling service. The most competitive segments for the brand are the screw
and the scroll ones.
Most of the companies involved in this market continue to focus in developing and strengthening their
service and maintenance areas, which are considered nowadays the more profitable within the total
business areas. This trend is expected to continue in the short and mid run linked with energy
efficiency, facility management, and Esco’s companies.
Table 47 Key suppliers of process chillers, by value, 2011/12

Process chillers
Market leaders Ramon Vizcaino
(descending order) Toshiba-Carrier
JCI (Clima Roca York)
Trane
GEA
Their share 70%
Other significant Ciatesa
companies Axima
(descending order) Lennox Refac
Others
Source: BSRIA
4.3 AIR HANDLING UNITS

The number of players involved in this market can be considered as medium; it is important to notice
that the main AHU group is formed by local manufacturers, holding the vast majority of the sales
under this group we include Tecnivel, Termoven, and System Air, as most of their production is
locally manufactured. System Air also manufactures in Madrid the bulk of its larger units for Southern
Europe, Africa and Middle East.
There is a secondary group of foreign companies with high expertise within the AHU like System Air,
Gea, Trox and Wolf and another smaller group, formed by AC suppliers/ manufacturers involved in
different markets apart from the AHU (chiller, splits, roof tops, etc.- Carrier, Trane or Ciatesa (Ciat)).
The market is clearly dominated by local manufactures, which in most cases have been for many years
involved in the market holding all of them a high reputation towards the end users and providing them
an edge when competing with foreign companies. The reasons behind this include:
 Lower manufacturing cost compared to other European countries like Germany or France.
 In case of failure or emergency, local companies are likely to have a better installer network which
enables them a faster response and shorter time.
 Foreign companies shall incur in higher transportation cost forcing them to incur in higher prices
to cover costs positioning them in much less competitive position than local companies.

 Better service and maintenance from the local companies, quicker after sales service and support.
As the factories are located throughout the country, a failure can be executed through
knowledgeable installer with hours/ days, when a foreign company is likely to incur in further
delays if i.e. the part or component needed to repair the equipment is not in stock and it has to be
ordered from aboard.
 Local companies have a larger client portfolio based on longer presence in the market positioning
them in a much better position than foreign companies.
The list of top and key local companies operating in the country includes Termoven, Tecnivel and
Servoclima among others.
The group of foreign companies include as the main ones Trox, Swegon, Trane, Toshiba-Carrier, Wolf
and GEA. The market share of this latter group is considered to be small compared to the one hold by
the local players. These companies are estimated to sell units outside the scope of the national clients,
which are supplied in most cases by local manufacturers. So if for instance a German pharmaceutical
company which is operating in Spain purchases in a regular basis equipment of this nature is likely to
obtain it through the supplier whom the HQ normally works with instead of utilizing a new supplier
which is not familiar with the particular specifications or requests the company could demand. This is
applicable only to a very specific ends of the market.
Tecnivel
C/ Leo, 5
28007 - Madrid
Tel : +34 914 09 54 54
Fax : +34 914 09 65 94
 Madrid based air handling unit manufacturer Tecnivel, is the leader across the air handling unit
market.
 Category: Specialist-National manufacturer.
 Tecnivel belongs to the Tecnigrupo group of companies, which focuses on air diffusion and
ventilation markets.
 Tecnigrupo group comprises Tecnivel, Tecnivel industrial, BTU, Airsum and Tecnifan.
 Tecnivel produces standard and custom AHUs as well as fan coils.
 Tecnivel has 30 years’ experience as an air handling unit manufacturer and enjoys a strong
reputation within the installer base.
 Tecnivel has its production facility in Fuenlabrada (Madrid).
 Tecnivel Industrial with 10 years in operation is Tecnivel’s exporting operation.
 The company includes under its product portfolio fan coils and air diffusors.

Termoven
C/ Bronce, 5-7.
Campo Real 28510 Madrid
Tel: 34- 91 876 52 13
 Category: National specialist/ manufacturer

 It can be considered as the most important player within the AHU market after Tecnivel and
System Air.
 Termoven manufactures in Navalcarnero (Madrid). Has expanded its factory facilities a few years
ago and includes in its product portfolio: chillers, air handling units, fan coils, indoor packaged
and terminal units.
 One of the latest product releases from the company is the Gama FCSA of chilled water cassettes.
 The company has recently achieved the Eurovent certification for its fan coils units, being the first
Spanish manufacturer holding such certificate.
 Termoven has 9 sales offices nationwide.
Table 48 Market leaders for air handling units analysed by major company by product type, by
value, 2011/12
Standard Bespoke
Major companies Tecnivel Tecnivel
(descending order) KoolKlima (System Air) KoolKlima (System Air)
Termoven Termoven
Trane Trane
Carrier Carrier
Their share 55% 55%
Other significant companies Others others
(descending order)
Source: BSRIA
Table 49 Local producing market leaders for air handling units, by value, 2011/12
Air handling units
Market leaders Tecnivel
(descending order) Termoven
Source: BSRIA
4.3.1 Key company trends

There are no changes expected to take place in this market. Threat of entrants of new players is
considered low, competition levels might arise if the project pipeline keeps narrowing as it has been
doing in the last few years. Most manufacturers involved in the market are targeting to tender for the
largest projects which could financially assure the full year.
There is an existent growing segment, the heat recovery options, but the market will have to wait for a
better scenario in order to start boosting its sales. End user needs to hold larger budgets, products
needs to be subsidised or have some sort of aid in order to start flooding the market with them.

4.4 FAN COIL AND OTHER TERMINAL UNITS

The fan coil market is fragmented between the companies mostly operating and focused within this
segment, may be on one or two others, this group includes players like Wesper, Galleti and Schacko
and the companies which are in the market as a complement of the rest of their respective product
portfolio this is the case of Carrier, Climaveneta and Trane among others.
Table 50 Market leaders for fan coil units analysed by product type, by value, 2011/12
Cased Concealed
Chilled water cassettes Other cased Chassis type
Major companies Termoven Termoven Termoven
(descending order) Tecnivel Tecnivel Tecnivel
Trane Trane Trane
Climaveneta Climaveneta Climaveneta
JCI JCI JCI
Their share 55% 55% 55%
Other significant companies Carrier Carrier Carrier
(descending order) KoolKlima (System Air) KoolKlima (System Air) KoolKlima (System Air)
Source: BSRIA
Table 51 Market leaders for fan coils units analysed by 2-pipe versus 4-pipe, by value, 2011/12
2-pipe 4-pipe
Major companies Termoven Termoven
(descending order) Tecnivel Tecnivel
Trane Trane
Climaveneta Climaveneta
JCI JCI
Their share 55% 55%
Other significant companies Carrier Carrier
(descending order) KoolKlima (System Air) KoolKlima (System Air)
Source: BSRIA
Table 52 Local producing market leaders for fan coil units, by value, 2011/12
Fan coils
Termoven
Market leaders Tecnivel
(descending order) Otedisa
Ciatesa
Source: BSRIA
Table 53 Market leaders for other terminal units, by value, 2011/12

VAV Other
Major companies Trox Trox
(descending order) Koolair Koolair
Schako Schako
Their share 75% 75%
Other significant companies Stoc Stoc
(descending order) Airvent Airvent
Koolclima – System Air
Source: BSRIA

Table 54 Local producing market leaders for other terminal units, by value, 2011/12
VAV Other
Market leaders System Air n/a
(descending order)
Source: BSRIA
4.4.1 Key company trends in other terminal unit markets

VAV
The market for VAV boxes is dominated by a small group of companies. The most relevant ones
include Trox and local manufacturer System air, Koolair Schacko and Stoc are the other relevant
companies operating in the country. There are no other significant companies special to mention.
Other terminal units
The other terminal unit market is driven by the same group of companies as reported above.

4.5 PRODUCT RANGES
Table 55 Matrix of principal suppliers, central plant air conditioning

Company Chillers AHU Fan VAV Other Country of Country of Origin of company
Ab Ce Scw Rec Scl coils manufacture sourcing if known
Airlan (Airmec) I I M M Italy Italy Italy

France, France,
Airwell (Iber Elco) ID ID ID France
worldwide worldwide
Spain, Europe, Spain, Europe,
Toshiba-Carrier I I I I I M I I I US, Japan
US, Far East US, Far East
Ciatesa I I I M M M M Spain, France Spain, France Spain, France
Spain, France, Spain, France,
JCI (Clima Roca York) I I I M I US, Spain
worldwide Worldwide
Climaveneta (Top Clima) I I I I Italy Italy Italy
Clivet I I I I I Italy Italy Italy
CTA Iberica I I I France France France
Daikin (McQuay ID ID ID ID Belgium, Japan Belgium, Japan Japan
Ferroli España, SA I I I Italy Italy Italy
GEA Grenco Iberica M Spain
Hitachi (Frigicoll) I I I I Japan Japan Japan
Hitecsa M Spain Spain Spain
Hitsa Topair M M Spain Spain Spain
Hiross I I Italy Italy Italy
Lennox Refac I I I I M M Spain, Europe Spain, Europe US
MTA (Novair) I I I Italy Italy Italy
Petra ID ID ID ID ID ID Jordan Jordan Jordan
Rhoss I I Italy Italy Italy
Robur I Italy Italy Italy
Saunier Duval Clima, SL M Spain Spain Germany
Servoclima M Spain Spain
Stoc M M Spain Spain Spain
System Air (Koolclima) M M I Spain, Italy Spain, Italy Italy
Swegon ID Sweden Sweden, Finland Sweden
Tecnivel M M Spain Spain Spain
Termoven M M Spain Spain Spain
France, US,
Trane I I I I I I I France, US US
China
Trox M M/I M/I Spain-Europe Spain-Europe Germany
Wolf Iberica MID Spain, Europe Spain, Europe Germany
Yakazi (Absorbsitem) ID Europe Europe, Japan Japan
Source: BSRIA
Key: M = manufacturer, I = importer, D = distributor
Ab = absorption, Ce = centrifugal, Scw = screw, Rec = reciprocating, Scl = scroll
Note: The companies listed in this table are those with a significant share of the market and others who
provided BSRIA with information about their sales.

5 HISTORICAL TREND AND FORECAST
5.1 HISTORICAL TREND
5.1.1 Chillers
The market for chillers has been impacted by many different fronts in the last years. First it had to
compete with the VRF when this first hit the market and started to erode some share on certain
projects to the chillers and a few years later it has to deal with the worst construction crunch ever
experienced in the country with in the midterm has ended up bringing one of the most deepest and
sharp economic recession never witnessed before. This has led a small gap for this product to expand
in the last few years or at least maintain the figures it used to hold let’s say 5 years ago.
Nonetheless an opportunity exists in the retrofit / replacement sector since some existing plant might
need an update or repair to certain compressors or parts. Similarly a substitution of systems still using
R22 refrigerant represents an immense potential in the short to mid-term.
5.1.2 Air handling units

Due to the nature of this product and the applications it is addressed towards, the AHU market has not
been impacted in such an accentuated way than it has impacted the chiller or the fan coil market not to
speak about the commercial orientated products such the VRF and large splits.
Heat recovery options have been expanding in the market after being more and more demanded by the
end user, however the market conditions have blocked this product for further expansions due to the
budgeting reductions the end user has been characterized in the last few years.
5.1.3 Terminal units

Fan coils, VAV boxes and similar products have been very dependent on the chiller market and its
performance. It is also dependant on private investment more than on public meaning it will have to
wait a few years for the market to start recovering, in the meantime reposition and refurbishments will
sustain certain level of demand assuring the flow of units.

Table 56 Historical trends for central plant air conditioning, volume (units), 2007-2011
CAGR %
2007 2008 2009 2010 2011
2007-2011
Chillers:
Reciprocating, screw, scroll 10,322 10,867 6,265 6,096 5,063 -16.3%
Standard centrifugal 29 49 16 13 14 -16.4%
Turbocor centrifugal 12 26 27 23 21 14.3%
(2)
Absorption 111 114 60 35 33 -26.2%
Air cooled 9,765 10,286 5,886 5,725 4,725 -16.6%
(1)
Water cooled 708 769 482 442 406 -13.0%
<100kW 6,744 7,118 4,099 3,987 3,326 -16.2%
101-350kW 2,267 2,350 1,458 1,442 1,192 -14.8%
351-700kW 923 997 599 561 436 -17.1%
>701kW 540 590 212 177 177 -24.3%
Air handling units 15,653 16,481 10,286 9,647 8,586 -13.9%
Fan coils 127,789 137,523 76,298 68,516 63,035 -16.2%
VAV units 4,409 4,253 3,097 2,539 2,440 -13.7%
Other terminal units 10,702 10,248 8,298 6,838 6,517 -11.7%
Total 169,027 179,561 104,347 93,707 85,709 -15.6%
Source: BSRIA
Note: 1. Includes condenserless
Table 57 Historical trend for central plant air conditioning, value at current prices (Euro
million), 2007-2011
CAGR %
2007 2008 2009 2010 2011
2007-2011
Chillers:
Reciprocating, screw, scroll 133.8 140.1 85.1 85.3 69.8 -15.0%
Standard centrifugal 2.6 3.7 2.6 1.9 2.1 -5.0%
Turbocor centrifugal 4.2 6.3 4.6 4.4 4.0 -1.1%
(2)
Absorption 2.6 2.9 1.6 1.1 1.1 -20.2%
Air cooled 125.6 130.9 80.5 78.9 63.6 -15.6%
(1)
Water cooled 17.6 22.0 13.4 13.8 13.4 -6.5%
<100kW 39.4 37.5 22.8 23.4 19.8 -15.8%
101-350kW 50.2 54.0 37.1 37.6 25.7 -15.4%
351-700kW 30.2 35.0 18.7 18.2 18.6 -11.5%
>701kW 23.4 26.5 15.3 13.5 13.0 -13.7%
Air handling units 62.8 66.4 43.2 41.3 39.3 -11.0%
Fan coils 35.0 36.4 21.2 20.3 18.6 -14.7%
VAV units 4.2 4.2 3.2 3.4 3.1 -7.5%
Other terminal units 5.5 5.3 4.7 5.0 4.4 -5.6%
Total 250.7 265.2 166.2 162.7 142.3 -13.2%
Source: BSRIA

Table 58 Historical trend for central plant air conditioning, average Euro MSP, 2007-2011
CAGR %
2007 2008 2009 2010 2011
2007-2011
Chillers:
Reciprocating, screw, scroll 12,963 12,888 13,576 13,998 13,793 1.6%
Standard centrifugal 90,035 75,431 162,688 150,086 150,185 13.6%
Turbocor centrifugal 342,764 238,524 169,861 188,569 191,781 -13.5%
(2)
Absorption 23,423 25,483 26,504 30,459 32,000 8.1%
Air cooled 12,862 12,724 13,671 13,784 13,459 1.1%
(1)
Water cooled 24,788 28,614 27,733 31,191 33,071 7.5%
<100kW 5,842 5,263 5,563 5,859 5,958 0.5%
101-350kW 22,144 22,967 25,428 26,095 21,549 -0.7%
351-700kW 32,719 35,111 31,151 32,390 42,538 6.8%
>701kW 43,333 44,813 72,106 76,551 73,162 14.0%
Air handling units 4,012 4,029 4,196 4,281 4,580 3.4%
Fan coils 274 265 278 296 295 1.8%
VAV units 953 988 1,045 1,338 1,259 7.2%
Other terminal units 514 517 572 729 670 6.8%
Total 1,483 1,477 1,592 1,736 1,661 2.9%
Source: BSRIA
Table 59 Historical trend for central plant air conditioning, value at current prices (US$ million),
2007-2011
CAGR %
2007 2008 2009 2010 2011
2007-2011
Chillers:
Reciprocating, screw, scroll 183.4 206.1 118.6 113.3 97.2 -14.7%
Standard centrifugal 3.5 5.4 3.6 2.5 2.9 -4.6%
Turbocor centrifugal 5.8 9.2 6.4 5.9 5.6 -0.7%
(2)
Absorption 3.6 4.3 2.2 1.4 1.5 -19.9%
Air cooled 172.1 192.6 112.2 104.8 88.5 -15.3%
(1)
Water cooled 24.1 32.4 18.6 18.3 18.7 -6.1%
<100kW 54.0 55.1 31.8 31.0 27.6 -15.5%
101-350kW 68.8 79.4 51.7 50.0 35.8 -15.1%
351-700kW 41.4 51.5 26.0 24.1 25.8 -11.1%
>701kW 32.1 38.9 21.3 18.0 18.1 -13.4%
Air handling units 86.1 97.7 60.2 54.8 54.7 -10.7%
Fan coils 48.0 53.6 29.5 27.0 25.8 -14.3%
VAV units 5.8 6.2 4.5 4.5 4.3 -7.1%
Other terminal units 7.5 7.8 6.6 6.6 6.1 -5.2%
Total 343.6 390.2 231.7 216.0 198.2 -12.8%
Source: BSRIA

Table 60 Historical trend for central plant air conditioning, average US$ MSP, 2007-2011
CAGR %
2007 2008 2009 2010 2011
2007-2011
Chillers:
Reciprocating, screw, scroll 17,764 18,963 18,934 18,587 19,206 2.0%
Standard centrifugal 123,384 110,984 226,889 199,297 209,118 14.1%
Turbocor centrifugal 469,724 350,950 236,893 250,399 267,036 -13.2%
(2)
Absorption 32,099 37,495 36,963 40,446 44,557 8.5%
Air cooled 17,626 18,721 19,066 18,304 18,740 1.5%
(1)
Water cooled 33,970 42,100 38,677 41,418 46,048 7.9%
<100kW 8,006 7,743 7,758 7,780 8,295 0.9%
101-350kW 30,346 33,792 35,462 34,652 30,005 -0.3%
351-700kW 44,839 51,660 43,444 43,010 59,230 7.2%
>701kW 59,384 65,935 100,561 101,651 101,870 14.4%
Air handling units 5,498 5,928 5,851 5,685 6,377 3.8%
Fan coils 375 389 387 393 410 2.2%
VAV units 1,305 1,453 1,457 1,777 1,754 7.7%
Other terminal units 704 761 798 968 933 7.3%
Total 2,033 2,173 2,221 2,305 2,312 3.3%
Source: BSRIA
5.2 FORECAST
5.2.1 Assumptions
Normative/ Legislation
With regards to the normative all the AHU’s have to stick to the EUROVENT certification as in norm
EN 1886. Also they follow the R.I.T.E (Reglamento de Instalaciones Termicas en Edificios) on its ITE
02.4.6 normative which regulates the technical nature of all the equipment to be installed under any
type of building within Spain
Heat recovery equipment keeps increasing its share in the market, nowadays they are estimated to
account for 80% of the market. The reason for this growing trend is the prompt from the R.I.T.E. and
the push from all the agents (manufacturers, associations, installers and administration) involved in the
market towards energy efficiency and saving issues.
The R.I.T.E.in particularly, in its Article 12 “Eficiencia Energetica” (Energy Efficiency) prompts the
use of equipment which is capable of reducing the general energy consume in thermal installations.
1. Energy Performance: all the equipment destined to produce cooling or heating is meant to perform
at its highest COP.
2. Heat and cooling distribution: Both equipment and installation’s ducted pipework has to be
thermally isolated in order to guarantee the fluid’s temperature remains the same along the whole
system.
3. Regulation and control: The installation has to include the required controls systems in order to
maintain the design conditions set for a space utilizing HVAC systems, adjusting at the same time
the energy consume in line with the thermal demand required.

4. Consume monitoring: All thermal installations must include consume monitoring controls so that
the end user is capable of noticing the installation consume.
5. Energy Recovery: All thermal installations shall include subsystems enabling the saving, the
recovery and the further use of the residual energies.
6. Use of renewable energy: The thermal installation will take advantage of the available renewable
energies in order to cover certain energy demand level a building shall require.
This above applies only for AHUs with flow ranges larger than 1,800m3/h only. The units below this
segment are characterized for including neither energy efficiency nor heat recovery options among the
units.
Table 61 Forecast assumptions

Forecast assumptions
 Economic performance will continue to be weak. Minimal GDP growth, and
Economic/GDP
rising unemployment are forecast until 2014.
 Construction output will stabilise but minimal progress is not expected
Construction
before 2014-2015.
 The market is expected to perform further declines during 2013 but not as
accentuated as expected for 2012. The main market driver, the construction
Market views
sector, highly conditions the performance of the AC market and until it does
start to fully neither will the AC market.
 Stocks are expected to have decreased during 2012 and are forecast to
remain decreasing as suppliers are sceptic for placing large orders and not
Weather/stocks
being able to sell fast forcing them to stock, situation which tends to be
avoided with the current market conditions.

st
New labelling scheme to take place in January 1 2013 affecting non-
Legislative trends
inverter units and low energy efficiency products.
Source: BSRIA
5.2.2 Chillers
The future for chillers is uncertain; they are highly dependent on how the construction performs in
order to start recovering the levels from the past. The market will maintain the activity thanks to the
replacement and refurbishments segments which will increase in the short term. This latter becomes an
attractive option taking into account the increase substitution of old chillers running with R-22 type of
refrigerant for new and more efficient ones, this represents a big opportunity for the suppliers and
installers fighting in the market place.
Air source type of chillers will continue dominate the market however the water source segment is
expected to increase faintly in the next few years due to the price difference between one and other.
The market will still suffer from the weak position the end user currently is. With budget restrictions
becoming more and more usual in most cases end use tends to push for the repair of the system
substituting the broken component instead of changing the system,
On the very high end turbocor type of chillers will still dominate the segment with a few absorption
units. In any case it is expected to increase in the short and mid-term due to the success it has along the
engineer and consultant for certain type of projects.

Table 62 Forecast for the chiller market, volume (units), 2010-2016

CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Reciprocating:
- air cooled 4 4 3 2 2 1 0 -100.0%
(1)
- water cooled 3 3 2 2 1 1 1 -19.7%
Total reciprocating 7 7 5 4 3 2 1 -32.2%
Screw: 0.0%
- air cooled 1,324 1,031 917 854 808 832 886 -3.0%
(1)
- water cooled 109 104 88 81 75 76 80 -5.1%
Total screw 1,433 1,135 1,005 935 883 908 966 -3.2%
Scroll: 0.0%
- air cooled 4,397 3,690 3,010 2,811 2,671 2,753 2,877 -4.9%
(1)
- water cooled 259 231 185 160 152 154 161 -7.0%
Total scroll 4,656 3,921 3,195 2,971 2,823 2,907 3,038 -5.0%
Standard centrifugal: 0.0%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 13 14 8 9 8 8 9 -8.5%
Turbocor centrifugal: 0.0%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 23 21 19 16 17 20 22 0.9%
Total centrifugal 36 35 27 25 25 28 31 -2.4%
Absorption <350kW 31 12 9 20 20 20 20 12.0%
Absorption >350kW 4 21 18 4 3 3 4 -30.0%
Total absorption 35 33 27 24 23 23 24 -6.2%
Total air cooled 5,725 4,725 3,930 3,667 3,480 3,586 3,763 -4.5%
(1)
Total water cooled 442 406 329 292 277 282 297 -6.0%
Total by cooling 6,167 5,131 4,259 3,959 3,757 3,868 4,060 -4.6%
Total: 0.0%
- reciprocating, screw,
6,096 5,063 4,205 3,910 3,709 3,817 4,005 -4.6%
scroll
- centrifugal 36 35 27 25 25 28 31 -2.4%
(2)
- absorption 35 33 27 24 23 23 24 -6.2%
Total by compressor 6,167 5,131 4,259 3,959 3,757 3,868 4,060 -4.6%
<100kW 3,987 3,326 2,850 2,573 2,435 2,518 2,651 -4.4%
101-350kW 1,442 1,192 876 930 879 921 950 -4.4%
351-700kW 561 436 397 337 338 333 337 -5.0%
>701kW 177 177 137 119 105 97 122 -7.2%
Total by size 6,167 5,131 4,259 3,959 3,757 3,868 4,060 -4.6%
Total cooling only 2,135 1,714 1,470 1,306 1,202 1,238 1,259 -6.0%
Total heat pump 4,032 3,417 2,789 2,653 2,555 2,630 2,801 -3.9%
Total by heat/cooling 6,167 5,131 4,259 3,959 3,757 3,868 4,060 -4.6%
Source: BSRIA

Table 63 Forecast for the chiller market, value (Euro million in 2011 prices), 2010-2016
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Reciprocating:
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -100.0%
(1)
- water cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -20.6%
Total reciprocating 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -33.3%
Screw: 0.0%
- air cooled 49.5 38.8 32.9 30.2 28.1 29.2 31.4 -4.1%
(1)
- water cooled 4.2 4.2 3.4 3.1 2.8 3.0 3.1 -5.7%
Total screw 53.7 43.1 36.3 33.3 30.9 32.2 34.6 -4.3%
Scroll: 0.0%
- air cooled 29.4 24.7 19.0 17.6 16.5 17.3 18.3 -5.8%
(1)
- water cooled 2.2 2.0 1.5 1.3 1.2 1.3 1.4 -7.2%
Total scroll 31.6 26.7 20.6 18.9 17.7 18.6 19.7 -5.9%
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0%
(1)
- water cooled 1.9 2.1 1.1 1.2 0.8 0.8 0.9 -15.4%
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0%
(1)
- water cooled 4.4 4.0 3.6 3.2 3.3 3.9 4.3 1.4%
Total centrifugal 6.3 6.1 4.7 4.3 4.1 4.7 5.2 -3.2%
Absorption <350kW 0.9 0.3 0.2 0.4 0.4 0.4 0.4 4.3%
Absorption >350kW 0.1 0.7 0.4 0.1 0.1 0.1 0.1 -33.1%
Total absorption 1.1 1.1 0.6 0.5 0.5 0.5 0.5 -13.0%
Total air cooled 78.9 63.6 52.0 47.8 44.6 46.5 49.8 -4.8%
(1)
Total water cooled 13.8 13.4 10.2 9.3 8.6 9.4 10.3 -5.2%
Total by cooling 92.7 77.0 62.1 57.1 53.2 55.9 60.0 -4.9%
Total: 0.0%
85.3 69.8 56.9 52.2 48.7 50.8 54.3 -4.9%
scroll
- centrifugal 6.3 6.1 4.7 4.3 4.1 4.7 5.2 -3.2%
(2)
- absorption 1.1 1.1 0.6 0.5 0.5 0.5 0.5 -13.0%
Total by compressor 92.7 77.0 62.1 57.1 53.2 55.9 60.0 -4.9%
<100kW 23.4 19.8 16.5 14.9 13.3 15.0 16.2 -3.9%
101-350kW 37.6 25.7 19.9 20.4 19.1 20.1 20.8 -4.1%
351-700kW 18.2 18.6 16.1 13.5 13.6 13.8 14.1 -5.3%
>701kW 13.5 13.0 9.7 8.3 7.3 6.9 8.9 -7.3%
Total by size 92.7 77.0 62.1 57.1 53.2 55.9 60.0 -4.9%
Total cooling only 53.3 42.4 34.9 27.4 24.5 25.2 25.8 -9.4%
Total heat pump 39.4 34.6 27.3 29.7 28.8 30.8 34.2 -0.2%
Total by heat/cooling 92.7 77.0 62.1 57.1 53.2 55.9 60.0 -4.9%
Source: BSRIA

Table 64 Forecast for the chiller market, average Euro MSP (in 2011 prices), 2010-2016
CAGR
%
2010 2011 2012 2013 2014 2015 2016
2011-
2016
Reciprocating:
- air cooled 5,800 5,409 4,002 3,902 3,495 3,508 0 -100.0%
(1)
- water cooled 5,600 5,222 4,347 4,238 3,812 3,993 4,929 -1.1%
Total reciprocating 5,714 5,329 4,140 4,037 3,606 3,678 4,929 -1.5%
Screw: 0.0%
- air cooled 37,381 37,670 35,874 35,338 34,800 35,119 35,486 -1.2%
(1)
- water cooled 38,413 40,574 38,331 38,025 37,503 38,802 39,249 -0.7%
Total screw 37,460 37,936 36,090 35,572 35,030 35,428 35,798 -1.2%
Scroll: 0.0%
- air cooled 6,686 6,703 6,327 6,268 6,175 6,283 6,372 -1.0%
(1)
- water cooled 8,543 8,682 8,347 8,265 8,017 8,449 8,582 -0.2%
Total scroll 6,789 6,820 6,444 6,376 6,274 6,397 6,489 -1.0%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 150,086 150,185 138,349 129,593 102,594 101,396 101,525 -7.5%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 188,569 191,781 187,537 197,089 193,118 192,535 195,799 0.4%
Total centrifugal 175,100 175,143 172,963 172,790 164,151 166,496 168,429 -0.8%
Absorption <350kW 30,287 30,171 20,486 21,364 20,705 21,034 21,109 -6.9%
Absorption >350kW 31,843 32,985 22,495 24,796 23,880 24,413 26,258 -4.5%
Total absorption 30,459 32,000 21,852 21,879 21,118 21,541 21,882 -7.3%
Total air cooled 13,784 13,459 13,220 13,035 12,818 12,970 13,226 -0.3%
(1)
Total water cooled 31,191 33,071 30,961 31,708 31,207 33,404 34,591 0.9%
Total by cooling 15,032 15,011 14,590 14,414 14,172 14,460 14,790 -0.3%
Total: 0.0%
13,998 13,793 13,527 13,355 13,118 13,302 13,558 -0.3%
scroll
- centrifugal 175,100 175,143 172,963 172,790 164,151 166,496 168,429 -0.8%
(2)
- absorption 30,459 32,000 21,852 21,879 21,118 21,541 21,882 -7.3%
<100kW 5,859 5,958 5,776 5,788 5,467 5,975 6,115 0.5%
101-350kW 26,095 21,549 22,736 21,896 21,682 21,872 21,932 0.4%
351-700kW 32,390 42,538 40,602 40,188 40,153 41,530 41,874 -0.3%
>701kW 76,551 73,162 70,729 69,666 69,340 71,721 72,962 -0.1%
Total by size 15,032 15,011 14,590 14,414 14,172 14,460 14,790 -0.3%
Total heat pump 9,769 10,132 9,782 11,187 11,254 11,695 12,217 3.8%
Source: BSRIA

Table 65 Forecast for the chiller market, value (US$ million in 2011 prices), 2010-2016
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Reciprocating:
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -100.0%
(1)
- water cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -20.6%
Total reciprocating 0.1 0.1 0.0 0.0 0.0 0.0 0.0 -33.3%
Screw: 0.0%
- air cooled 65.7 54.1 45.8 42.0 39.1 40.7 43.8 -4.1%
(1)
- water cooled 5.6 5.9 4.7 4.3 3.9 4.1 4.4 -5.7%
Total screw 71.3 60.0 50.5 46.3 43.1 44.8 48.2 -4.3%
Scroll: 0.0%
- air cooled 39.0 34.4 26.5 24.5 23.0 24.1 25.5 -5.8%
(1)
- water cooled 2.9 2.8 2.2 1.8 1.7 1.8 1.9 -7.2%
Total scroll 42.0 37.2 28.7 26.4 24.7 25.9 27.4 -5.9%
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0%
(1)
- water cooled 2.5 2.9 1.5 1.6 1.1 1.1 1.3 -15.4%
- air cooled 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0%
(1)
- water cooled 5.9 5.6 5.0 4.4 4.6 5.4 6.0 1.4%
Total centrifugal 8.4 8.5 6.5 6.0 5.7 6.5 7.3 -3.2%
Absorption <350kW 1.3 0.5 0.2 0.6 0.6 0.6 0.6 4.3%
Absorption >350kW 0.2 1.0 0.6 0.1 0.1 0.1 0.1 -33.1%
Total absorption 1.4 1.5 0.8 0.7 0.7 0.7 0.7 -13.0%
Total air cooled 104.8 88.5 72.3 66.5 62.1 64.8 69.3 -4.8%
(1)
Total water cooled 18.3 18.7 14.2 12.9 12.0 13.1 14.3 -5.2%
Total by cooling 123.1 107.2 86.5 79.5 74.1 77.9 83.6 -4.9%
Total: 0.0%
113.3 97.2 79.2 72.7 67.7 70.7 75.6 -4.9%
scroll
- centrifugal 8.4 8.5 6.5 6.0 5.7 6.5 7.3 -3.2%
(2)
- absorption 1.4 1.5 0.8 0.7 0.7 0.7 0.7 -13.0%
Total by compressor 123.1 107.2 86.5 79.5 74.1 77.9 83.6 -4.9%
<100kW 31.0 27.6 22.9 20.7 18.5 20.9 22.6 -3.9%
101-350kW 50.0 35.8 27.7 28.4 26.5 28.0 29.0 -4.1%
351-700kW 24.1 25.8 22.4 18.8 18.9 19.2 19.6 -5.3%
>701kW 18.0 18.1 13.4 11.5 10.2 9.7 12.4 -7.3%
Total by size 123.1 107.2 86.5 79.5 74.1 77.9 83.6 -4.9%
Total cooling only 70.8 59.0 48.5 38.1 34.1 35.0 36.0 -9.4%
Total heat pump 52.3 48.2 38.0 41.3 40.0 42.8 47.7 -0.2%
Total by heat/cooling 123.1 107.2 86.5 79.5 74.1 77.9 83.6 -4.9%
Source: BSRIA
Exchange rate: €1 = US$1.33 (2011 onwards)

Table 66 Forecast for the chiller market, average US$ MSP (in 2011 prices), 2010-2015
CAGR
%
2010 2011 2012 2013 2014 2015 2016
2011-
2016
Reciprocating:
- air cooled 7,702 7,531 5,572 5,433 4,866 4,885 0 -100.0%
(1)
- water cooled 7,436 7,271 6,053 5,901 5,308 5,560 6,863 -1.1%
Total reciprocating 7,588 7,420 5,765 5,620 5,021 5,121 6,863 -1.5%
Screw: 0 0 0 0 0 0 0 0.0%
- air cooled 49,638 52,452 49,952 49,205 48,456 48,899 49,411 -1.2%
(1)
- water cooled 51,008 56,495 53,372 52,946 52,219 54,028 54,650 -0.7%
Total screw 49,742 52,823 50,251 49,530 48,776 49,330 49,846 -1.2%
Scroll: 0 0 0 0 0 0 0 0.0%
- air cooled 8,878 9,333 8,810 8,728 8,597 8,748 8,872 -1.0%
(1)
- water cooled 11,345 12,089 11,623 11,508 11,163 11,765 11,950 -0.2%
Total scroll 9,015 9,496 8,973 8,878 8,736 8,908 9,035 -1.0%
Standard centrifugal: 0 0 0 0 0 0 0 0.0%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 199,297 209,118 192,637 180,445 142,852 141,183 141,364 -7.5%
Turbocor centrifugal: 0 0 0 0 0 0 0 0.0%
- air cooled 0 0 0 0 0 0 0 0.0%
(1)
- water cooled 250,399 267,036 261,127 274,426 268,898 268,086 272,630 0.4%
Total centrifugal 232,514 243,869 240,834 240,593 228,563 231,828 234,521 -0.8%
Absorption <350kW 40,218 42,011 28,525 29,748 28,830 29,287 29,393 -6.9%
Absorption >350kW 42,284 45,928 31,321 34,526 33,250 33,992 36,561 -4.5%
Total absorption 40,446 44,557 30,427 30,465 29,405 29,993 30,468 -7.3%
Total air cooled 18,304 18,740 18,408 18,149 17,848 18,059 18,415 -0.3%
(1)
Total water cooled 41,418 46,048 43,110 44,150 43,453 46,512 48,164 0.9%
Total by cooling 19,960 20,901 20,316 20,069 19,733 20,134 20,593 -0.3%
Total: 0 0 0 0 0 0 0 0.0%
18,587 19,206 18,835 18,596 18,265 18,521 18,878 -0.3%
scroll
- centrifugal 232,514 243,869 240,834 240,593 228,563 231,828 234,521 -0.8%
(2)
- absorption 40,446 44,557 30,427 30,465 29,405 29,993 30,468 -7.3%
<100kW 7,780 8,295 8,043 8,059 7,613 8,319 8,515 0.5%
101-350kW 34,652 30,005 31,657 30,489 30,189 30,454 30,537 0.4%
351-700kW 43,010 59,230 56,534 55,958 55,909 57,826 58,305 -0.3%
>701kW 101,651 101,870 98,483 97,002 96,549 99,864 101,592 -0.1%
Total by size 19,960 20,901 20,316 20,069 19,733 20,134 20,593 -0.3%
Total heat pump 12,972 14,108 13,620 15,576 15,670 16,285 17,012 3.8%
Source: BSRIA

Figure 10 Forecast for the chiller market by type of compressor, value (Euro million), 2010-2016
Source: BSRIA
5.2.3 Air handling units and terminal units

The market for air handling units and other terminal units will depend on the performance of the
construction sector but most important, it will depend on the private investment on industrial projects
capable of absorbing this type of equipment which in most cases is addressed towards the most
complex applications
End user keep demanding better indoor air quality, in particular applications like hospitals,
pharmaceutical and chemical laboratories, office buildings etc. Some manufacturers have reported an
increasing tendency towards the use of new counter flow diffusers which are characterized for holding
higher efficiency than any other type.
Heat recovery options are expected to keep increasing in the next few years. The reason behind this
relays on one hand in the R.I.T.E normative prompting the use of energy efficiency equipment and on
the other a higher concern towards energy consumption and its reduction.
Table 67 Forecast for airside products and terminal units, volume (units), 2010-2016
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Standard 212 197 175 159 156 166 173 -2.6%
Bespoke 9,435 8,389 7,123 6,774 6,638 6,764 7,035 -3.5%
Total air handling units 9,647 8,586 7,298 6,933 6,794 6,930 7,208 -3.4%
Without heat recovery 5,788 3,692 2,846 2,427 1,699 1,040 360 -37.2%
With heat recovery 3,859 4,894 4,452 4,506 5,096 5,891 6,848 6.9%
Total air handling units 9,647 8,586 7,298 6,933 6,794 6,930 7,208 -3.4%
Total fan coils 68,516 63,035 51,679 48,061 45,658 47,028 49,380 -4.8%
Total other terminal
9,377 8,957 8,037 8,209 8,401 8,580 9,134 0.4%
units
Total 87,540 80,578 67,014 63,203 60,853 62,538 65,722 -4.0%
Source: BSRIA

Table 68 Forecast for airside products and terminal units, value (Euro million in 2011 prices),
2010-2016
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Standard 0.4 0.4 0.3 0.3 0.3 0.3 0.3 -3.5%
Bespoke 40.9 38.9 33.7 31.7 31.2 32.1 33.9 -2.7%
Total air handling units 41.3 39.3 34.0 32.0 31.5 32.4 34.2 -2.7%
Without heat recovery 21.3 13.8 10.6 8.6 5.4 2.6 0.9 -42.2%
With heat recovery 20.0 25.6 23.4 23.3 26.1 29.8 33.3 5.5%
Total fan coils 20.3 18.6 15.6 14.3 13.4 14.1 15.1 -4.1%
8.4 7.4 6.5 6.8 7.0 7.3 7.9 1.2%
units
Total 70.0 65.3 56.1 53.0 51.9 53.8 57.2 -2.6%
Source: BSRIA
Table 69 Forecast for airside products and terminal units, average MSP Euro (in 2011 prices),
2010-2016
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Standard 1,946 1,991 1,903 1,804 1,814 1,853 1,899 -0.9%
Bespoke 4,334 4,640 4,728 4,677 4,701 4,750 4,817 0.8%
Total air handling units 4,281 4,580 4,660 4,611 4,635 4,680 4,747 0.7%
Without heat recovery 3,675 3,728 3,740 3,557 3,152 2,496 2,469 -7.9%
With heat recovery 5,191 5,222 5,248 5,179 5,129 5,066 4,867 -1.4%
Total fan coils 296 295 302 297 294 299 305 0.7%
894 830 814 825 838 853 866 0.8%
units
Total 799 811 838 839 853 861 870 1.4%
Source: BSRIA
Table 70 Forecast for airside products and terminal units, value (US$ million in 2011 prices),
2010-2015
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Standard 0.5 0.5 0.5 0.4 0.4 0.4 0.5 -3.5%
Bespoke 54.3 54.2 46.9 44.1 43.5 44.7 47.2 -2.7%
Without heat recovery 28.2 19.2 14.8 12.0 7.5 3.6 1.2 -42.2%
With heat recovery 26.6 35.6 32.5 32.5 36.4 41.5 46.4 5.5%
Total fan coils 27.0 25.8 21.7 19.9 18.7 19.6 21.0 -4.1%
11.1 10.4 9.1 9.4 9.8 10.2 11.0 1.2%
units
Total 92.9 91.0 78.2 73.8 72.3 75.0 79.6 -2.6%
Source: BSRIA

Table 71 Forecast for airside products and terminal units, average MSP US$ (in 2011 prices),
2010-2015
CAGR %
2010 2011 2012 2013 2014 2015 2016 2011-
2016
Standard 2,584 2,772 2,650 2,512 2,525 2,580 2,644 -0.9%
Bespoke 5,755 6,461 6,583 6,513 6,546 6,614 6,708 0.8%
Without heat recovery 4,880 5,190 5,208 4,953 4,389 3,476 3,437 -7.9%
With heat recovery 6,893 7,272 7,308 7,211 7,142 7,054 6,777 -1.4%
Total fan coils 393 410 420 413 409 417 425 0.7%
1,187 1,156 1,134 1,149 1,167 1,188 1,206 0.8%
units
Total 1,062 1,129 1,167 1,168 1,188 1,199 1,212 1.4%
Source: BSRIA
Figure 11 Forecast for airside products and terminal units, value (Euro million), 2010-2016
Source: BSRIA
5.3 CONSTRUCTION & MACROECONOMIC FACTORS

Construction expenditure is still shrinking since the economic crisis started by the end of 2007. The
first symptoms of the Real Estate bubble blast emerged in the residential market, but the cause was
also present in the non-residential market.
After years of overdeveloping non-residential buildings with an overheated market driven partially by
speculation, investors tried to reduce their exposure to the Real Estate market in general and the non-
residential in particular thus resulting in an oversupply. The oversupply means stock that needs to be
absorbed by real demand and in reasonable circumstances would mean a limited drop of new
construction until absorbed and then a recovery to reasonable levels.
During the growth years, when investing was attractive in terms of return, financing was cheap and
liquidity was abundant, private debt increased to unmanageable levels. Households and private
companies are now in a process of deleveraging, resulting in a reduction of demand and investment.

The financial sector is now suffering from both the excess borrowing during the growth years and
mismanagement, especially banks that were managed by politics (Cajas) with huge exposure to Real
Estate. As a consequence, during the last three years banks assets were substituted from loans to Real
Estate assets as developers were not able to sell their assets and repay their loans. Overdue loans
increased dramatically.
But Real Estate prices have been continuously decreasing since the crisis started, therefore banks
financial statements should have suffered the direct impact of the reduction of asset value and,
therefore, loss recognition. But bank managers, reluctant to recognize the losses, did not assume the
market value of their assets. Due to illiquidity of their new assets, the demand of financing by public
entities and the new requirements of Basel 3, the credit offer are very limited. Finally, the fact that
banks are holding a lot of unsold Real Estate stock is holding back investors to put their money back
in Real Estate in Spain as they expect further prices decrease.
Public entities were over-dimensioned during the growth years. Huge tax collections pushed excess
hiring of public employees and the creation of thousands of public companies. But most of those
collections, especially at regional levels came from Real Estate permits, licences and taxes, so after the
bubble crashed public incomes reduced drastically. As a reaction to economic slowdown the
Zapatero’s government planned a growth plan based on public expenditure that did not have the
expected results. Unemployment grew at enormous rates resulting in a reduction of tax income
collection and an increase in subsidises.
The mentioned demand contraction and the increase of privately held overdue receivables reduced
dramatically the income of private companies, and therefore tax collection. As a result of the above
public debt more than doubled, and in an effort to manage public deficit the government is
establishing a number of reforms and policies that is leading to a decrease of investment in all sectors,
including infrastructures, schools, hospitals and other public buildings.
The picture in the near future does not seem very different, with private players still in a deleveraging
process, the financial bailout still in process and a central government trying to reach the deficit
targets.
Estimates are that construction will not recover in 2013 or 2014; furthermore a continuation of the
decline is expected during the years 2013 and 2014, especially relevant for industrial and office
buildings.
Euroconstruct’s forecast a rate demand of -21.1% for 2012 and -8.1% for 2013 (households,
companies and the government itself have other more pressing priorities than construction
investment), -40% for 2012 in civil engineer sector, lack of credit (the banking sector also has its own
set of priorities) and, in general, a very distorted market (over-supply, expected declines in price and a
perception that there is too much risk involved in any construction investment).
Residential construction is still an overstocked market since 2008. The migratory balance has been
negative since 2011 according to INE. Moreover, they estimate that there will be an absolute average
decline of nearly 45,000 inhabitants per year during the period 2012‐2015.
The tax burden on the central and local governments is felt in all sectors. The State needs to increase
its source of funding to address the crisis. On the one hand, the increase of the reals estate tax in
housing, on the other hand, the fiscal reform package of last May also included a temporary reduction
of 50% of the taxes on the capital gains obtained in the sale of dwellings until the end of the year.

New house building
The Spanish new build housing market still paralysed, with an excess of supply inherited from the last
decade’s construction boom.
In line with the persistent lack of credit and uncertainties about prices, the number of transactions has
also seen a very significant drop. The market evidence shows that the post-bubble Spanish real estate
market could be around 400,000 transactions per year.
The Spanish construction market is expected to continue struggling until 2012 when it will have
reached stagnation, but much will depend on the outcome of the continued euro crises
New commercial construction
This segment has been declining in the last two years and is forecast to continue with this trend for at
least the next two years. The segment’s performance in 2010 showed a 38% decrease in the activity
compared to the previous year and its annual change for 2011 is estimated at -25%. The same situation
has been experienced in office, commercial buildings and warehouses sector.
Table 72 Construction trends and forecasts, 2009-2014

Volume Value
Billion US$¹ 2011 2009 2010 2011 2012 2013 2014
Residential construction 42,740
Residential new build 19,770 -48.0% -27.5% -20.6% -12.0% -5% -2.5%
Residential repair and
22,970 -18.8% -5.1% -7.0% -10.0% -6% -1.5%
maintenance
Non-residential
-24.6% -25.6% -17.4% -18.5% -5.5% -2%
construction
- schools and universities 735 2.3% -6.4% -3.5% -6.0% -6% -2%
- hospitals 555 -30.8% 32.2% -20.0% -18.0% -3% 0%
- industrial buildings 3,320 -20.6% -21.6% -18.0% -15.0% -10% -6%
- office buildings 4,250 -24.4% -38.0% -20.0% -5.0% -10% -5%
- commercial buildings 1,700 -21.2% -21.8% -18.6% -10.6% 5$ 4%
Non-residential repair and
15,715 -3.2% `-8.4% -5.0% -15.0% -3.5% -1.5%
maintenance
Source: BSRIA from Euroconstruct
Table 73 Macro-economic forecasts, 2010-2016

2012 2013 2014 2015 2016
2010 2011
forecast forecast outlook outlook outlook
Population (millions) 45.98 46.15 46.31 46.45 46.59 46.82 47.10
Number of households
(millions) 16.85 17.00 17.10 17.20 17.30 17.50 17.70
Unemployed (‘000) 4,633 4,830 4,780 4,620 4,400 4,050 3.885
Unemployment rate (%) 20.1% 20.9% 20.6% 19.8% 18.7% 16.5% 14.2%
GDP Euro % change at constant prices
Change of GDP -0.1% 0.7% 0.9% 1.2% 1.5% 1.8% 1.7
Construction prices (new only) 2.0% 4.0% 2.0% 2.5% 2.7% 3.0% 3.1
Source: BSRIA from various sources

Economy
Spain's mixed capitalist economy is the 13th largest in the world, and its per capita income roughly
matches that of Germany and France. However, after almost 15 years of above average GDP growth,
the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of
2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.1% in 2010,
before turning positive in 2011, making Spain the last major economy to emerge from the global
recession.
The reversal in Spain's economic growth reflected a significant decline in construction amid an
oversupply of housing and falling consumer spending, while exports actually have begun to grow.
Government efforts to boost the economy through stimulus spending, extended unemployment
benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a
low of about 8% in 2007 to over 20% in 2011. (Source: CIA fact sheet).
Even though the new government has set up a number of reforms and policies in order to gain
competitiveness and financial stability and to reduce public deficit, Spain is facing the second
recession in the last 5 years.
After years of increasing private debt, households and private companies are in a deleveraging process
by reducing private consumption. Being financial consolidation the main target of the central
government, public consumption and investments are also expected to decline.
The short term view for Spain is dramatic. Unemployment is continuously increasing despite labour
reforms, public deficit targets are hard to reach therefore reducing the possibilities of implementing
growth plans and investor’s confidence is extremely low. In consequence the Spanish risk premium is
at historic highs since it became part of the EU, increasing financing costs, increasing public
expenditure, increasing deficit... and increasing the risk of entering a vicious circle.
Although the mentioned reforms and policies will have a short term negative impact on economy, in
the long term they should have positive effects as: the labour reform has increased flexibility and costs
to align those European levels. Unitary labour costs have reduced increasing competitiveness. The
financial reform pushed by the central government through consolidation of the sector and fast
recognition of Real Estate losses will end with healthy banks that will help to increase confidence in
Spain.
Construction sector, one of the originators of current crisis, is still suffering from the contraction of
demand, dramatic reduction foreign investors due to lack of confidence and deterioration of credit.
The previous affects residential and non-residential markets, and is expected to continue between 2
and 4 more years depending on the rate of absorption of current stock and the effect of the financial
reforms.
In 2011 after two years of recession Spanish GDP grew a 0.4%, but forecasts are not optimistic in the
short term. As of October 2012 the official GDP growth estimate for the year 2012 is -1.5%,
international organizations such as the IMF agree with that forecast.
For the year 2013 the contraction of the GDP estimations by the IMF (-1.3%) triples that estimated by
Spanish Central Government (-0.5%). IMF estimations were published short after Spanish Central
Government published the 2013 budget, increasing the lack of confidence in Spain. The main concern
is whether Spain will be able to reach its deficit objectives set with their EU partners or further
adjustment will need to be done, again reducing public expenditure and growth.

As in previous years, Spain continues to be plunged into an economic crisis. In global terms, the
economic indices continue to decline and estimates for 2012 and 2013 show no signs of improvement.
In 2011, the GDP is estimated in 0.7%.The unemployment in 2011 was 21.7% and the rate forecast is
worse than in our previous reports, standing around 24% for 2012. According with Eurostat,
unemployment rate for less than 25 years was 46.4% in 2011 and it was 52.1% in May 2012. Spain is
at the head of youth unemployment in the European Union followed by Greece, Portugal and Italy. For
the period 2012-2013, the projection is not expecting any growth with persistent credit crunches and
job destruction. The consumption is limited and investment continues to slide.
The domestic market continues to suffer a decrease on demand. The market has been impacted
because of unemployment; 3 million jobs have been destroyed in the last four years, most of them
forever. Whereupon, according to the Ministry of Public Works sales range from -22% to -18%.
In early 2012, the Spanish government was forced to make drastic cuts in public spending. The
planned infrastructure projects have been cancelled until further accoutrements. Another measure was
to abolish all government subsidies and incentives to investment. Rajoy’s administration plans to
present new measures at the end of this year. The industrial and manufacturing sector is stalled waiting
for these new measures, carrying out major restructurings in order to survive the crisis.
The domestic demand will remain stagnant, with the external demand being the head of business.
However, there is a concern about the complicated situation in Portugal, the third largest export/resale
market for Spanish manufacturers. Many companies are on looking for new markets to develop such
the Latin-American.
Table 74 Trends in consumer price index, 2009-2014

Spain
2009 Yearly rate -0.3

2010 Yearly rate 1.8
2012 Yearly rate 2
2014 Yearly rate 2
Source: BSRIA

6 OVERSEAS TRADE
6.1 PRODUCTION
Most of the local production is concentrated in the AHU and the chiller markets, however all mid and
large chillers are imported from aboard apart from the ones manufactured by JCI in Barcelona.
As reported in previous studies some players, as a direct consequence of the internal crisis the country
is experiencing, have been forced to close down factories or reduce their production facilities in order
to maintain their competitiveness in the market. Hitecsa, Lennox, Saunier Duval are some the players
included in this group.
There is a set of companies currently manufacturing in the country; including among the most relevant
JCI, Ciatesa and Hitecsa apart from the AHU’s manufacturers, Tecnivel and Termoven. These latter
ones plus Serviclima (considerably strong in the Catalonia region) and System air are the only ones
remaining manufacturing at a local level.
6.1.1 Trends in manufacturing
Table 75 Overview of key brands in the market place

Company Local production Imports/comments
Ciatesa Reciprocating and scroll chillers, AHU Screw chillers/ Heat Pumps
Toshiba-Carrier No local production All chillers and all terminal units
JCI (Clima Roca Cork) Scroll chillers and heat pumps, rooftops Rest of products chillers
Clivet No local production All products
Hitecsa Reciprocating chillers, terminal units, No imports
Rooftops, indoor packaged
Hitsa Topair Screw, scroll and reciprocating chillers, No imports
rooftops other large packaged dx units
System Air AHU, other terminal units, Air diffusion No imports
products
Lenox Refac Scroll chillers Screw, reciprocating, centrifugal,
absorption chillers.
Otedisa Fan coils No imports
Saunier Duval Scroll chillers No imports
Tecnivel AHU, fan coils No imports
Termoven AHU, fan coils No imports
Trane No local production All chillers / Fan coils
Source: BSRIA
Table 76 Local manufacturers of central plant products, (descending order), 2011

All chillers Chillers Chillers Air Fan coils VAV Constant
<350 kW >351 kW handling volume
units
JCI(Clima Roca JCI (Clima Roca JCI (Clima Tecnivel Termoven Trox System Air -
York) Cork) Roca Cork) Trox Tecnivel System Air - Koolclima
Ciatesa Ciatesa Ciatesa Termoven Otedisa Koolclima Trox
Hitecsa Hitecsa Hitsa Koolair Ciatesa Tecnivel Tecnivel
Hitsa Hitsa Topair Ciatesa
Topair Topair
Lennox Refac Lennox Refac
Saunier Duval Saunier Duval
Source: BSRIA

6.2 IMPORTS
The bulk of the central plant market related to chillers and fan coils is imported from aboard. The list
of importing countries includes France, Italy and Belgium. The imports have been maintaining without
significant swifts. Most of the mid and large units are characterized for being served on an on request
basis in order to cut stock costs among other reasons.
For smaller products the manufacturer might be able to predict a certain flow of sales for the year
being able to risk extra stocking costs.
Some AHU are also imported form aboard but the vast majority of the units are manufactured locally.
6.3 EXPORTS
There are a group of companies which have been operating aboard for the last few years. In most cases
suppliers apart from covering their local operations are looking for expanding or entering new markets
given the current local market conditions in order to maintain a certain level of sales which allow the
business keep on running.
The group of companies operating outside Spain includes:
 System Air: large AHU to Middle East, Northern African countries and Southern Europe.
 Hitecsa: exporting across Europe and southern American countries.
 Termoven: Europe and South America.
 Ciatesa: currently exporting to South America Africa, Asia and Europe
 Tecnivel: random rare operations across Europe.
Table 77 Foreign trade (derived) for central plant market, value (Euro million), 2011(E)
A B C D E F G
Home Imports(¹) Imports as Production Exports Balance of Exports as
(1)
market % of home trade(1) % of home
market production
B/A A-B+E E-B E/D
Chillers 77.0 59.0 77% 23.0 5.0 -54.0 22%
Air handling units 39.3 3.0 8% 41.3 5.0 2.0 12%
Fan coils 18.6 10.0 54% 13.0 4.4 -5.6 34%
VAV 3.1 0.0 0% 3.6 0.5 0.5 14%
Other terminal units 4.4 0.0 0% 5.4 1.0 1.0 19%
Total 142.3 72.0 51% 86.2 15.9 -56.1 18%
Source: BSRIA
Note: 1. Excludes all re-exporting/trading activities
Exchange rate: €1 = US$1.33

Table 78 Foreign trade (derived) for central plant market, value (US$ million), 2011(E)
A B C D E F G
Home Imports(¹) Imports as Production Exports Balance of Exports as
(1)
market % of home trade(1) % of home
market production
B/A A-B+E E-B E/D
Chillers 107.2 82.2 77% 32.0 7.0 -75.2 22%
Air handling units 54.7 4.2 8% 57.5 7.0 2.8 12%
Fan coils 25.8 13.9 54% 18.1 6.1 -7.8 34%
VAV 4.3 0.0 0% 5.0 0.7 0.7 14%
Other terminal units 6.1 0.0 0% 7.5 1.4 1.4 19%
Total 198.2 100.3 51% 120.0 22.1 -78.2 18%
Source: BSRIA
Note: 1. Excludes all re-exporting/trading activities
Exchange rate: €1 = US$1.33

7 DISTRIBUTION
Manufacturers have starting to be very aware who they work and operate with due to the high level of
unpaid cases flooding the market for the last few years, but much accentuated during 2011. Public
administration projects in some cases take a few years for being paid, making it difficult for
manufacturers to profit a project when they risk being paid years after. Most of the big and large
projects tend to be served on an “on request” basis for not risking stocking the units and risking not
capitalizing the sell.
For large equipment, the “proyectista” or engineer/ consultant the one who acquires the project in first
place, specifying the equipment and the brand in the vast majority of the cases. Once the consultant
has the project designed it assigns an installer or contractor to undertake the project. The engineer
normally assigns an installer close to him and in some other cases the project goes on tender so a
group of different installers have the option to win the project.
Once the project has been allocated to an installer, it offers the supply the start-up of the installation
and the maintenance and service (corrective and predictive); this latter area has become the most
profitable of them all even on top of the sale of the equipment.
Distributor’s role in the central plant market is relatively low as there are marginal sales to the end
user through the retail and the wholesaler channel. These two agents operate with the lower power
range units as they have no competitiveness to operate with the large ones.
Some manufacturers are trying to establish exclusivity agreements with installers, contractors,
wholesalers, consultants and engineers in order to guarantee a certain flow of incoming projects where
to place their equipment with certain frequency but these attempts are often characterized for holding
tight requirements from both sides the manufacturer and the installer.
Table 79 Distribution of central plant equipment, of sales by value (%), 2011

Chillers AHU
Small Medium Large Fan coils VAV Other
Standard Bespoke
(<100 kW) (101-350 kW) (>351 kW)
Direct to contractor/
75% 89% 98% 88% 88% 86% 85% 0%
installer
Distributor 25% 8% 1% 2% 6% 8% 15% 0%
Direct to end users 0% 3% 1% 10% 6% 0% 0%
Others 0% 0% 0% 0% 0% 0% 0% 0%
Total % 100% 100% 100% 100% 100% 94% 100% 0%
Source: BSRIA

8 PRICING AND DISCOUNTS
8.1 PRICING
In order to set the prices manufacturers normally hand the contractor and the installer a price which in
most cases enables this two latter to set a proximately a 20% mark –up to charge to the end user.
On top of this the installer earns the installation fee and the potential post selling maintenance and
service contract. Distributors hold a tricky position as they cannot afford to stock mid and high range
units for the loos they would incur in case of i.e. a late or even non- payment takes place.
Table 80 Examples of average list prices (Euro) by product type, 2011

Average Manufacturers Manufacturers
Discounts
manufacturers selling price range selling price
range
list price Euro Euro Euro
A-B
A B C
A
Chillers <100kW 14,376 2,156 – 28,752 10% - 40% 5,958
Chillers 100-350kW 21,564 8,626 – 35,940 10% - 40% 21,549
Chillers 351-700kW 30,908 17,970 – 53,910 10% - 42% 42,538
Chillers >701kW 115,008 43,128 – 215,640 10% - 45% 73,162
Standard AHU 2,660 1,078 – 3,594 15% - 30% 1,991
Bespoke AHU 21,564 2,156 – 32,346 15% - 35% 4,640
Fan coils 503 180 – 1,294 15% - 35% 295
VAV 1,150 575 – 1,438 15% - 25% 1,259
Constant volume 611 431 – 1,438 15% - 25% 413
Source: BSRIA
Table 81 Examples of average list prices (US$) by product type, 2011

Average Manufacturers Manufacturers
Discounts
manufacturers selling price range selling price
range
list price US$ US$ US$
A-B
A B C
A
Chillers <100kW 20,000 3,000 – 40,000 10% - 40% 8,295
Chillers 100-350kW 30,000 12,000 – 50,000 10% - 40% 30,005
Chillers 351-700kW 43,000 25,000 – 75,000 10% - 42% 59,230
Chillers >701kW 160,000 60,000 – 300,000 10% - 45% 101,870
Standard AHU 3,700 1,500 – 5,000 15% - 30% 2,772
Bespoke AHU 30,000 3,000 – 45,000 15% - 35% 6,461
Fan coils 700 250 – 1,800 15% - 35% 410
VAV 1,600 800 – 2,000 15% - 25% 1,754
Constant volume 850 600 – 2,000 15% - 25% 575
Source: BSRIA

8.2 DISCOUNTS
Large contractors negotiate directly with the manufacturer. They can obtain a discount of up to 60%. If
the contractor aims to stick to one manufacturer for several different projects, a wider discount
depending on the products might be applied. Some contractors might be orientated to certain brands as
these might provide more benefits than others depending on the agreement signed with the
manufacturer.
The price and discount policy within the Spanish market for central plant products is characterized by
the following factors:
 Relationship between client (end user) and supplier, based on previous purchases, type of
equipment and historic purchases.
 The capability of the supplier to cut prices based on its own margins. Nowadays, some key
manufacturers continue applying aggressive policies of discount in order to secure projects that
enable them to help the firm’s cash flow.
 Type of contract signed with the end user. Prices vary, for instance, when a contract of service and
maintenance is signed. Depending on the level of involvement, a supplier might apply an even
greater discount on the equipment if it is assured that the maintenance will be serviced by the
supplier for an extended period of time.
 The level of competition which market might be experiencing. If competition is strong all
suppliers tend to reduce prices, offering additional services without any cost (maintenance,
installation). This technique might even increase if the tender relates to a major project.
 The season or month of the year when the equipment is purchased can be an important factor as
well in order to get cut on prices.
 Manufacturers are starting to work only with distributors and contractors who can guarantee some
level of cash flow and financially are clean, avoiding this way incur in high unpaid debts who
might take several years to recover.

9 END USER SECTOR AND APPLICATIONS

The chiller market is still characterized for becoming a solution in almost any large project with need
of air conditioning. Retail, hotels and offices are still the end users demoing this type of equipment.
Commercial and industrial buildings have slightly recovered their activity compared to 2010.
The retail applications tend to absorb the vast majority of the small and mid-range units. Projects for
offices combined with dwellings and large hotels tend to include the larger range units.
Air handling units on the other hand tends to be addressed towards a more specialized application.
This include hospitals, surgery rooms, ICU rooms, industrial processes, pharmaceutical and any other
sort of application requiring a more enhanced air environment controlling the moisture, the humidity,
adding purifiers filters apart of course, for providing the basic heating and cooling features.
Applications inside the leisure segment include museums, libraries, special buildings such little
palaces etc…
The applications requesting high end customized AHU’s are in most cases research laboratories,
highly complex industrial process, chemical and pharmaceutical laboratories which sustain a high
demanding level with regards to equipment to use.
Fan coils are highly linked with the chillers, with this said it can be observed that offices and leisure
group by themselves the 70% of the market. Most of the applications within the leisure segment refer
to the hotel micro sector.
Table 82 End user sectors for central plant, % by value, 2011

Chillers AHU
Fan
Small Medium Large Bespoke VAV Other
Standard coils
(<100 kW) (101-350 kW) > 351 KW AHU
Residential 20% 2% 0% 0% 0% 2% 2% 0%
Retail 15% 10% 21% 15% 4% 3% 10% 0%
Office 19% 36% 35% 42% 36% 23% 16% 0%
Leisure (incl. hotels) 29% 27% 20% 10% 14% 47% 21% 0%
Public 5% 8% 6% 12% 12% 0% 7% 0%
Health (private &
7% 8% 8% 17% 20% 15% 21% 0%
public
Education 3% 4% 3% 4% 5% 10% 3% 0%
Pharmaceutical 1% 1% 5% 0% 6% 0% 10% 0%
Communication 1% 2% 0% 0% 0% 0% 0% 0%
Industrial 0% 2% 2% 0% 3% 0% 10% 0%
(1)
Other 0% 0% 0% 0% 0% 0% 0% 0%
Total % 100% 100% 100% 100% 100% 100% 100% 0%
Source: BSRIA
Note: 1. Unknown sectors.

Table 83 Applications for central plant, % by value, 2011

New build Refurbishment Replacement Total
Chillers:
Small (<100 kW) 35% 45% 20% 100%
Medium (101-350 kW 45% 38% 17% 100%
Large (>351 kW) 55% 30% 15% 100%
AHU 64% 31% 5% 100%
Fan coils 41% 38% 21% 100%
VAV 55% 30% 15% 100%
Other 0% 0% 0% 0%
Source: BSRIA
Note: New build includes: new build & complete renovation – see Appendix B for definitions
Refurbishment includes: retrofit, displacement, enhancement - see Appendix B for definitions
9.1 SPECIFICATION TRENDS

The specification process in Spain is mainly driven by the architect/ engineers/ consultants in most
cases. These tend to stick to one / two brands for the project concentrating all the solutions needed
within a reduced group of brands. This enables greater discounts besides easing the installer work. In
some cases is the end user the one who might be specifying the brand but in rare cases the end user
specifies the equipment.
Large contractors and installers prefer to deal directly with the end user cutting the middle man figure.
It is known some construction companies might alter the equipment or the brand in order to reduce
budget or incur in other type of conditions not recorded on the original plan. By this they avoid extra
costs on their side apart from providing more effectiveness towards the end user.
In order to specify a particular brand it is crucial it holds not only a reliable and reputable technology
background but also a proper full post selling service. Its highly important being able to cover the
brand and its equipment with a proper network of installers who could provide fast assistance in case
the system breaks down, it also needs to offer the maintenance of the equipment is selling, and it has
to be able to provide components and replacements parts within a fairly short time frame. If a brand is
not able to provide this latter it becomes not as competitive as the top brands and therefore operating
in the commercial and industrial markets becomes very difficult.

APPENDIX: A ADDRESSES OF AIR CONDITIONING SUPPLIERS
ABB ( Adispa) Top Clima (Climaventa)

Secreteria Coloma, 55 Londres, 37 1° 4a
8024 -Barcelona 08036 - Barcelona
Tel: +34 932 85 50 30 Tel: +34 934 19 56 00
Fax: +34 932 19 97 35 Fax: +34 934 19 56 02
Airdata Clivet Espana

Carretera de Canillas 134 Ctra de Extremadura Km 20700
28043 - Madrid 28935 - Mostoles
Tel: +34 913 88 58 25 Tel: +34 916 85 23 44
Fax: +34 913 88 31 99 Fax: +34 916 85 23 55
Airwell ( Iber Elco) CTA Iberica

C/ Ciencias,71-81 Modulos Poligono Pedrosa Roger, 5 local 3
08908 - Barcelona 08028 - Barcelona
Tel: +34 933 35 04 44 Tel: +34 934 90 51 60
Fax: +34 933 35 95 38 Fax: +34 934 90 74 77
Airland (Aermec) Daewoo Electronics Espana

C/ Ribera. Deusto 70. Mar Groga, 51-59 "Zai"
48014 Bilbao Vizcaya. 08040 - Barcelona
Tel: 44746086 Tel: +34 932 62 30 30
Fax: +34 932 62 30 35
Argo (Renuit)
Chile, 10 edificio Madrir, 92 of.11 Daikin Air Conditioning Spain
28290 - Las Matas de las Rozas C/ Labastida, 2
Tel: +34 916 30 46 61 28034 - Madrid
Fax: +34 916 30 36 13 Tel: +34 913 34 56 12
Fax: +34 913 34 56 30
Carrier Espana
P.E.La Finca, PºClub Deportivo,1, bloque-16, Ducasa
2ª. Roger de Flor, 61-67
28223 Pozuelo de Alarcón-Madrid (España). 08013 - Barcelona
Tel: +34 915209300 Tel: +34 932 47 86 30
Fax: +34 932 45 57 81
Chunlan Group Corporation
Pza Ramon y Cajal, 1 Eurofred
31008 - Pamplona Marquès de Sentmenat,97
Tel: +34 948 27 13 50 08029 - Barcelona
Fax: +34 948 17 53 11 Tel : +34 934 19 97 97
Fax : +34 934 19 86 86
Ciatesa
Pol Indus Llanos de Jarata Fagor Electrodomésticos
14550 - Montilla (Cordoba) Bd San Andres, 18
Tel: +34 957 65 23 11 Aptdo 49
Fax: +34 957 65 22 12 20500 Mondragon (Guipuzcoa)
Tel: +34 943 41 91 00
Clima Roca York Fax: +34 943 71 91 15
Paseo Espronceda,278
08204 - Sabadell
Tel: +34 937 48 90 00
Fax: +34 937 10 22 29

Ferroli Espana Liebert Espana

Alcade Martin Cobos Valle de Tobalina, 32
s/n Pol Indus Villayuda 28021 - Madrid
09007 Burgos Tel : +34 917 23 39 00
Tel: +34 947 48 32 50 Fax : +34 917 23 39 0
Fax : +34 947 48 56 72
McQuay Espana
Frigicoll Victor de la Serna, 4 bajo
Blasco de Garay, s/n 28016 - Madrid
08960 - Saint Just Desvern Tel : +34 916 01 07 80
Tel : +34 934 80 33 22 Fax : +34 916 01 07 81
Fax : +34 934 80 33 23 Mitsubishi Electric Europe. B.V
Pol Indus Can Magi
Fujitsu (Tecno Sakura – Eurofred) C/Joan Buscalla, 2-4
Llança, 42 bajos 08190 - Saint Cugat del Vallès
08015 - Barcelona Tel : +34 935 65 31 40
Tel : +34 932 26 73 34 Fax : +34 935 89 44 48
Fax : +34 932 26 77 50
Mitsubishi Heavy ( Lumelco)
Gea Grenco Iberica Avenida Matapinonera,9
C/ San Rafael, 3 28700 - San Sebastian de los Reyes
28108- Alcobendas. Madrid Tel : +34 912 03 93 00
Tel: +34 91 661 50 36 Fax : +34 912 03 93 06
General ( Eurofred) Panasonic Espana

Marquès de Sentmenat,97 Avda Josep Tarradellan, 20-30
08029 - Barcelona 5a pta
Tel : +34 934 19 97 97 08029 - Barcelona
Fax : +34 934 19 86 86 Tel : +34 9342 59 392
Fax : +34 9342 59 391
Hitecsa
Ronda de l'Europa, 52-54 Samsung Electronics
08800 -Vilanova i la Geltru Pol Indus Pedrosa, C/Ciencias, 55-65
Tel : +34 938 93 49 12 08908 - L'Hospitalet de Llobregat (Barcelona)
Fax : +34 938 93 96 15 Tel : +34 932 61 67 00
Fax : +34 932 61 67 54
Hiyasu
Brasil 52-54 Saunier Duval Clima
08028 - Barcelona José Luis Goyoaga,36
Tel : +34 934 90 96 98 48950 - Erandio (Viscaya)
Fax : +34 934 90 73 58 Tel : +34 944 89 62 00
Fax : +34 944 89 62 53
Lennox Refac
Princesa, 31 4° officina 5a Sharp Electronica Espana
28008 - Madrid Pol Can Sant Joan, 8
Tel: +34 915 40 18 25 08190 - Sant Cugat del Valles
Fax: +34 915 42 84 04 Tel : +34 935 81 97 00
Fax : +34 936 75 46 11
LG Electronics Espana
Europa Empresarial Servoclima
Edificio Bruselas Ctra Nac VI, Km24 C/ Gaudi,26
28230 08120 - La Llagosta (Barcelona)
Las Rozas Tel : +34 935 6 01 356
Tel : +34 912 11 22 22 Fax : +34 935 6 01 440
Fax : +34 912 11 22 4

Systemair HVAC Spain S.L.U. Wolf Iberica

C\Montecarlo, 14 C/ José Echegaray, 4
28942 Fuenlabrada (Madrid) EdificioB2
Spain 28100 (Alcobendas)
Teléfono: +34 91 600 29 00 Tel : +34 916 61 18 53
Fax : +34 916 61 03 98
Swegon S.A.U
C/ Lope de Vega 2, 2ª planta.
28231 Las Rozas, Madrid
Tel: + 34 91 634 76 19
Tecnivel
C/ Leo, 5
28007 - Madrid
Tel : +34 914 09 54 54
Fax : +34 914 09 65 94
Tempstar
Luis I, 9
28031 - Madrid
Tel : +34 913 8 06 063
Fax : +34 913 0 32 026
Termoven
C/ Bronce, 5-7.
Campo Real 28510 Madrid
Tel: 34- 91 876 52 13
Trane
Avda Andalucia
Km 10300
28021 - Madrid
Tel: +34 914 28 82 22
Fax : +34 914 28 82 02
Trox Espanola
Pol Indus La Cartuja
Ctra Castellon, Km 7
50720 - Zaragoza
Tel: +34 976 50 02 50
Fax : + 34 976 50 09 04
Toshiba Climatizacion
General Aranaz, 88
28027 - Madrid
Tel : +34 902 432 200
Fax : +34 912 346 130
Union Air
Bran Via, 481 4° 2d
08015 - Barcelona
Tel : +34 934 26 52 69
Fax : +34 934 29 98 13

APPENDIX: B END USER/APPPLICATIONS – NEW DEFINITIONS

End User Sector Definition
Residential Public sector: local authority housing schemes, hostels (except youth hostels), old people’s
homes, orphanages and children remand homes.
Private sector: luxury apartments, houses other flats and maisonettes, bungalows,
vicarages. Including all installations whether installed in all rooms or in part such as
conservatories or just bedrooms. Includes armed forces and police married quarters.
Retail All major retail chains, large multiple commercial shopping malls and independents. Car
showrooms, betting shops and farm shops.
Office/Leisure (inc. Offices: all commercial offices, banks, other financial institutions, embassies, temporary
Hotels) office accommodation (portacabins), call centres, car rental, media (television studios and
radio stations), any offices associated with utilities (electricity and gas suppliers etc).
Leisure: theatres, concert halls, film studios, stadiums (football, race courses, athletics),
fitness centres, swimming pools, cinemas, restaurants, cafes, bowling alleys, nightclubs,
public houses, motorway service centres (included here as the garage only forms a small
part of the complex), museums, galleries, theme/amusement parks.
Hotels: youth hostels and centres, other hostels such as backpackers, hotels (both hotel
chains and independents), holiday resorts, bed & breakfast, Inns, Guest houses, caravan
sites, cabins and similar facilities.
Public Government buildings, including local councils and central government. Includes public
offices, town halls, fire stations, police stations, and armed forces installations (not
residential), prisons, borstals, remand centres, libraries, barracks for the armed forces
(except married quarters, classified under housing) includes naval dockyards, RAF airfields;
reformatories, courtrooms.
Health (Private & Hospitals (both public and PFI), clinics surgeries (doctors and dentists), mental hospitals,
Public) nursing homes.
Education (Private Schools and colleges (including technical colleges and institutes of agriculture), primary,
& Public) secondary schools, religious colleges including halls of residence, universities including
halls of residence and research establishments, including medical schools, adult training
centres, special needs schools, dance schools.
Pharmaceutical Laboratories, medical research stations except when part of university or school.
Communications Data centres, telecommunications, computer rooms, cooling of remote mobile phone
stations.
Other Industrial Factories (includes shipyards, chemical works, refineries, food processing, workshops)
Warehouses (cold storage, wholesale depots).
Process side of oil, steel, gas and coal (buildings in association with these industries).
Other Catch all category: Agriculture (all buildings and work on farms), dairies, animal centres,
kennels, horse riding schools, veterinary clinics, civil defence work, nuclear energy industry,
council depots, public conveniences, conference centres, crematoria, mortuaries, airport
terminals, ports/harbours, garages (buildings for storage, repair and maintenance of road
vehicles, bus depots and car parks), convents, monasteries.
Mixed Applications For in-depth studies in some countries such as Spain or the Far East you will need to add
another category called ‘Mixed Applications’. This will include all buildings where there is a
mixture of commercial shops/ hotels and residential accommodation, within the same
building.
Applications:
 Complete renovation - a building undergoes total refurbishment and has been scratched down to its walls.
 Retrofit - when a system or product not in place before is installed in an existing building for the first time
 Displacement - when one type of system (or product) is replaced by another (for example an exchange of a
boiler for a heat pump, but also of a solid fuel boiler for a gas one
 Enhancement - would be a radiator added on to an existing system of radiators, or a VRF outdoor unit added
onto an existing system to extend the air conditioning system, or extra fan coils added onto an existing system
to extend it

APPENDIX: C COMPARISION OF PRODUCTS RECORDED IN

HEAT RECOVERY AND AIR CONDITIONING REPORTS
Table C1 Comparison of products recorded in heat recovery and air conditioning reports
Heat Recovery Reports Central Plant Reports

<0.54 m³/s
Balanced HR not Compact
0.55-0.83 m³/s Balanced HR Single
configured to fit a AHU
configured to fit Fan AHU
0.84 - 1.53 cooling coil. 20,000 without
a cooling coil for AC Conven
m³/s
HR -tional
1.54 - 2.36 5,000 to fit a (blower
2,000 AHU
m³/s coils)
2.37 - 4.25 1,000 for AC
m³/s 10,000
4.26 -
6.61m³/s
6.62 - 9.44
Overlap
m³/s
>18.90 m³/s
The example above shows that there is an overlap of 5,000 units, recorded in both reports.
Balanced HR includes both residential and non-residential heat recovery units, plus any compact AHU
with HR.
Compact AHU without HR are recorded in the air conditioning reports but not the heat recovery
reports

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Chillers

A multi client study

Contract: Report 57564/6A

Date: November 2013

Issued by: BSRIA Limited

Telephone: +44 (0)1344 465600

Fax: +44 (0)1344 465626

Compiled by: Approved by:

© BSRIA Page 3 of 56 Report 57564/6A

© BSRIA Page 4 of 56 Report 57564/6A

© BSRIA Page 5 of 56 Report 57564/6A

© BSRIA Page 6 of 56 Report 57564/6A

A multi client study

Contract: Report 55302/6

Date: November 2012

Issued by: BSRIA Limited

Telephone: +44 (0)1344 465600

Fax: +44 (0)1344 465626

Compiled by: Approved by:

© BSRIA Page 3 of 76 Report 55302/6

© BSRIA Page 4 of 76 Report 55302/6

© BSRIA Page 5 of 76 Report 55302/6

Table 37 Fan coil market by value (US$ million), 2010-2012(E)........................................................... 35

© BSRIA Page 6 of 76 Report 55302/6

© BSRIA Page 7 of 76 Report 55302/6

Packaged Air Conditioning Central Plant Air Conditioning

Definitions of key product groups are available in a separate definitions report.

 In the UK, data was obtained through a mixture of methodologies:

© BSRIA Page 8 of 76 Report 55302/6

At local level, research was obtained through a range of sources:

© BSRIA Page 9 of 76 Report 55302/6

o Low commercial and industrial construction activity

© BSRIA Page 10 of 76 Report 55302/6

Total: 85,709 units Total: € 142.3 million

© BSRIA Page 11 of 76 Report 55302/6

3 MARKET SIZE, STRUCTURE AND SEGMENTATION

3.1 MARKET SIZE

© BSRIA Page 12 of 76 Report 55302/6

Figure 3 Central plant air conditioning, value (Euro million), 2011

Figure 4 Central plant air conditioning, volume, 2011

© BSRIA Page 13 of 76 Report 55302/6

Chillers from 100kW to 350kW

Chillers from 350kW to 700kW

Chillers > 700kW

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Table 4 Chiller market by size, volume of market (units), 2010-2012(E)

Table 5 Chiller market by size, value of market (Euro million), 2010-2012(E)

Table 6 Chiller market by size, value of market (US$ million), 2010-2012(E)

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Figure 5 Chiller market by size, analysis by volume, 2011

3.2.2 By compressor type

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 It enables to use heat recovery options.

 High output for its reduced size.

They do not produce a high air flow.

Among their main feature we include:

 Extremely reduced performance noise.

The main advantages to be considered for centrifugal chillers are:

 Very high efficiency

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The main reasons for this market contraction are:

Absorption (both Robur type and large type)

Currently the market for absorption chillers accounts for 33 units.

The market drivers are: