Daikin establishes sales company in Cambodia26th December 2023
JAPAN/CAMBODIA: Daikin Industries has established Daikin Airconditioning (Cambodia) Co Ltd to support Cambodia’s growing air conditioning market.
From its base in Phnom Penh, operations are scheduled to begin in January.
The company has been represented in Cambodia since 2019 through a branch of Daikin Malaysia.
In addition to establishing a sales company in Cambodia and enhancing its sales network and after-sales service system, Daikin will also set up a training facility to nurture service engineers in the skills necessary for installing and servicing air conditioners.
With a rising population, Asia is seen by Daikin as a growth market in great need of air conditioning because of its climate, which is mostly tropical. Occupying a strategic location on the southern economic corridor, which traverses the southern part of the Indochina peninsula, Cambodia expects one of the highest GDP growth rates in Asia, at 6% in 2024.
Cambodia also has a young population with an average age in its mid-twenties. In 2021, a new investment law was enacted to attract both domestic and foreign investment. Real estate development, including resorts, and automobile-related companies is expected to expand, and further economic development is anticipated in the future.
Cambodia’s HVAC market, particularly the commercial air conditioning market, is currently expanding as a result of higher investment in shopping centres, hotels, and factories in the Phnom Penh area. With the overall HVAC market expecting 10% annual growth over the next five years, Cambodia looks to be a promising market in which demand for residential use is also expected to increase due to future population growth.