Headline News Volume 685
eJARN.com Headline News
Date: July 12, 2023, Volume 685
( http://www.ejarn.com )
< June Regular edition>
1. Market size forecast for data centers and their cooling technologies
The global data center market size is expected to grow from US$ 263.34 billion in 2022 to US$ 602.76 billion in 2030, according to President & Strategic Intelligence. Moreover, the data center cooling market size is expected to grow from US$ 13.3 billion in 2022 to US$ 30.3 billion in 2028, according to Research and Markets.
June Regular page 4
2. Quilt Raises US$ 9 Million for Residential Heat Pump System Development
Quilt is a startup founded by Chief Executive Officer (CEO) Paul Lambert, Chief Technical Officer (CTO) Matthew Knoll, and Chief Operating Officer (COO) Bill Kee, who are former executives of Google. Its mission is to ‘create great consumer products from heat pumps’ that offer a better user experience than either traditional ducted unitary air conditioners or ductless mini-splits. On May 16, Quilt announced that it had secured US$ 9 million in seed funding for development of an advanced residential ductless heat pump system.
June Regular page 10
3. Spotlight on Voltas in India
In an exclusive interview with JARN on May 11, Voltas Managing Director (MD) and Chief Executive Officer (CEO) Pradeep Bakshi answered wide-ranging questions on past milestones and the future direction of Voltas and the air conditioner industry. Here is the gist of the interview. The future growth trajectory is expected to be upward. The air conditioner industry has projected to the government that the present market size of 10 million will go up to 40 million. It is expected to reach 25 to 30 million by 2030.
June Regular page 20
4. LG Records Strong AC Sales in Thailand
According to Bangkok Post, LG Electronics (Thailand), the distributor of LG air conditioning products, has upgraded its marketing strategies after experiencing a sales surge thanks to the scorching heat. In January 2023, air conditioner demand in Thailand rose by 10% year on year, followed by a 15% surge in February and March. LG also recorded sales growth of 70 to 80% during April, through all distribution channels.
June Regular page 36
5. Huayi to Start Production Capacity Upgrade and Expansion Project in July
Huayi Compressor (Jinzhou) has invested RMB 600 million (about US$ 85.3 million) in the construction of its production capacity upgrade and expansion project. The improved facility is expected to begin operations in July. The company plans to see production and sales volumes break 20 million units in three to five years.
June Regular page 40
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