
The local distributor of Mitsubishi electrical appliances sees significant opportunities in the Thai air conditioner market as the housing sector recovers and the data centre industry expands.
Toshiyuki Iizuka, managing director of Mitsubishi Electric Kang Yong Watana Co Ltd (MKY), said the company's commitment to developing high-quality products and services should elevate customer satisfaction.
"For fiscal 2024, from April 1, 2024 to March 31, 2025, we anticipate our sales growth will align with that of fiscal 2023. We are targeting a 10% increase for fiscal 2025," he said.
Last year, MKY secured the largest market share for room air conditioners, ventilators and water pumps.
Mr Iizuka said that for fiscal 2025, which spans April 1, 2025 to March 31, 2026, the company will continue to emphasise building brand value and launching innovative products tailored for both business-to-customer and business-to-business (B2B) segments to cater to varying consumer demand.
He projected the Thai air conditioning market will reach 33.5 billion baht this year, representing year-on-year growth of 5%.
MKY aims to secure a market share of more than 30% in Thailand's air conditioner market in this fiscal year.
With the increase in demand for data centres in Thailand, the company has developed products designed to meet the air conditioning needs of this sector.
Shizuo Nakatsukasa, director and general manager of marketing and sales at MKY, said the Thai residential air conditioning market is expected to grow by roughly 5% year-on-year in 2025, driven by the recovery of the housing market and the increased need for energy-efficient appliances.
This trend encourages consumers to upgrade their existing air conditioning systems to newer, energy-saving models.
On the B2B front, the company broadened its product offerings, including variable refrigerant flow systems, commercial chillers, and building management systems to meet the diverse needs of the growing market, which includes hospitals, educational institutions, factories, and data centres.
Mr Nakatsukasa said the company plans to invest more than 1.2 billion baht in marketing and brand awareness efforts for fiscal 2025.