Changing lifestyles and increased focus on energy conservation will drive growth of the air conditioning industry, according to Daikin Industries CEO, Kanwal Jeet Jawa.
“There is significant growth in Kenya of a middle class segment seeking value in comfort and convenience in their living spaces, and this will ultimately influence uptake of air conditioning products in Kenya,” says Mr. Jawa.
Additionally, the government of Kenya’s affordable housing initiative which is targeting to put up about a half a million housing units by 2022 presents considerable fresh opportunities as progress gathers momentum. Coupled with investments by other developers, affordable housing is expected to drive up demand for products such as air conditioners, riding on higher temperatures as a result of climate change.
The domestic scene is emerging as an important new market for air conditioning equipment, hotels and commercial buildings having been the dominant destination for air conditioning gadgets. Things have changed.
“The growth trajectory in the sale of air conditioning products for use in residential homes has been remarkable, as the Kenyan middle class seek to transfer the comforts enjoyed at work to their homes,” says Jawa.
Jawa says Daikin’s choice of Kenya as a gateway into East and Central Africa is deliberate, due to the strategic position as the gateway into the East African Community market. He however hastens to add that demand for products would inform the decision about whether to set up a manufacturing plant in Kenya.