JAPAN: Daikin targets 4,550 billion yen ($32.5 billion) in sales in 2025 as a result of increased demand for heat pumps in Europe and a growing air-conditioning market in India. The Japanese manufacturer has allocated 800 billion yen ($5.7 billion) for capital investment over the next three years, as well as 390 billion yen ($2.8 billion) for research and development. Last week, Masanori Togawa, President and CEO of Daikin, revealed his intentions for Fusion25’s three-year management plan for the second half of the year and acknowledged that heat pump sales are currently growing much faster than expected. “We would like to further expand this growth,” he said. “In Europe, we aim to be number one in the dominant position. In addition, we would like to work on advancing heat pump conversion projects in the US, China and other countries around the world as we see growth potential in this area.” Altherma heat pump sales in Europe are projected to more than double from a target of 260 billion yen this year to 600 billion yen in 2025. Air conditioner sales in Europe are also projected to rise from the current 650 billion yen ($4.6 billion) to 800 billion yen ($5.7 billion). ) in fiscal year 2025.
India
India’s air-conditioning equipment market is expected to quadruple by 2030 compared to 2020, Masanori Togawa said that in addition to the plant currently under construction in Sri City, Daikin is considering building a new plant in the west of the country. “In India, the government is positioning air conditioning as an important industry and we hope to develop it not only for the domestic market, but also as an export base to the Middle East and Africa,” Togawa said. “We see India as the next growth front after China. By creating an integrated system from parts procurement to manufacturing in India, we intend to make India the cornerstone of our global strategy and accelerate the development of our business.”
Refrigerants
As the global market is in various stages of phasing out HFCs, Daikin says it will continue its efforts to move to R32 while choosing the most appropriate refrigerant for each region. With the US phase-out due to begin in 2025 under the AIM Act, Daikin says it will launch commercial R32 products ahead of its competitors. “As further tightening of refrigerant regulations is being considered in Europe, we will also be developing equipment that uses natural refrigerants such as propane R290 or CO2,” said Hiroaki Ueda, Executive Director, General Manager of Corporate Planning. “We will continue to develop new generation refrigerants for air conditioning and automotive applications.”
North America
Aiming to become the number one air conditioner manufacturer in North America by sales volume in fiscal 2025, Daikin says it will drive the North American market with premium environmental products that use its core technologies such as inverter, heat pump and R32. “In the residential market, we will dominate the number one position while accelerating the collaboration between two North American air conditioning companies, Daikin Comfort Technologies North America, Inc (DNA) and Daikin Applied Americas Inc (DAA),” explained Hiroaki Ueda. “We have set a sales target of 1.5 trillion yen [$10.7 billion] for fiscal year 2025 to be number one in North America by 2025. We would also like to further expand this commercial business by accelerating the collaboration between DNA and DAA and offering a system that combines both companies’ commercial products, VRV and application management.”
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