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    MARKET UPDATE: SRI LANKA’S BOOMING BUILDING & CONSTRUCTION INDUSTRY BOOST DEMAND FOR HVAC SECTOR  
   
 
    The building and construction industry has been a major beneficiary of Sri Lanka’s rapid economic development over the past 6 years. The increasing constructions of high-end residential housing to commercial and office space to a variety of infrastructure segments, has boosted the demand for better quality air conditioning, refrigeration and ventilation products and services, in the country. In 2017, the market value for air conditioners and refrigeration in Sri Lanka, is estimated at $50 million and growing at 15% per annum.

 
    The world air conditioner demand in 2016 reached a whopping 102.31 million units, a 2.9% increase from the previous year. The second largest market is Asia, as the demand reached 41.16 million units, achieving a 4.8% increase. Furthermore, the Asian Development Bank projects Sri Lanka’s Gross Domestic Product (GDP) growth to reach 5% in 2018. With Sri Lanka’s industry growing at a rapid pace, the demand for HVAC is sure to grow.

To meet the country’s increasing demand for quality ventilation, air conditioners and refrigeration, SIVAR 2018 – Sri Lanka’s No.1 International Ventilation, Air Conditioning & Refrigeration Exhibition is returning for its 3rd edition at the Sri Lanka Exhibition & Convention Centre in Colombo from 23 to 25 August 2018.

Concurrently held with other international exhibitions – LANKABUILD, LANKAENERGY, LANKAWATER and LANKA SECURITY & FIRE, this business-to-business platform will truly be a one-stop destination for Sri Lanka’s industry professionals from various industries. Expecting to gather over 200 international brands including country Pavilions from China, Malaysia, India, Taiwan, Singapore and Thailand, SIVAR 2018 promises to deliver numerous major key decision makers and business owners.

So whether you’re aiming to build up your business, consolidate business partnerships, or simply want to know more about up & coming trends in the market, we invite you to be part of the booming HVACR industry at SIVAR 2018!

For more information, please contact Mr. Darren at darren@ambtarsus.com for more information.

 
   
 
           
       
   
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