Edited by Eamonn Ryan from Daikin results announcement

Daikin Industries, a global leader in HVAC&R, has achieved its strongest performance ever in its 100-year history. This is part two of a two-part series.

Toshitaka Tsubouchi, President of Daikin Europe.

Toshitaka Tsubouchi, President of Daikin Europe. Supplied by Daikin

Large commercial and industrial applied systems (chilled water) segment:

Daikin capitalised on the rising demand for water-based heating and cooling systems driven by the EU’s carbon neutrality goals. While the residential market for single-family homes faces pressure, Daikin achieved growth in collective housing projects. In the Middle East, Daikin secured several large projects, further bolstering its position.

Refrigeration segment:

Investment activities in the food retail market are picking up, particularly in Southern Europe. The recovery in tourism led to increased demand for refrigeration units in restaurants and hotels. Daikin’s industrial refrigeration segment thrived in the Middle East and Africa region.

Service and solutions:

Daikin’s turnkey and remote monitoring solutions gained traction across various industrial applications, including healthcare and data centres. Daikin’s commitment to innovation and sustainability continues to drive its success in the ever-evolving HVAC&R landscape.

Reinforcing local markets: Daikin’s European acquisitions in 2023

Daikin’s strategic investments in 2023 demonstrate its commitment to becoming a comprehensive solution provider for low-carbon HVAC&R systems. These acquisitions align with the urgent need to decarbonise society. Here are the key highlights:

  1. Robert Heath Heating (UK): In November 2023, Daikin acquired British service company Robert Heath Heating. The primary goal was to enhance servicing and maintenance capabilities for residential heating customers in the UK. By integrating Robert Heath Heating into its portfolio, Daikin strengthens its position as a reliable partner for homeowners seeking sustainable heating solutions.
  2. Daikin Denmark (BKF-Klima): In March 2024, Daikin Europe established Daikin Denmark by acquiring BKF-Klima, its Danish distributor. BKF-Klima was formerly part of Beijer Ref. This move complements Daikin’s expansion strategy in Scandinavia, where it has previously invested in Sweden, Norway and Finland.
  3. Leveraging its extensive research and development expertise, Daikin aims to support the region’s decarbonisation goals by providing low-carbon heating and cooling solutions across residential, commercial and industrial sectors.
  4. Daikin’s President, Toshitaka Tsubouchi, emphasises the transformative potential of their innovations. With dedicated teams and strong partnerships, Daikin remains steadfast in its mission to create a sustainable future for generations to come.

Direct expansion (DX) versus chilled water systems:

  • DX systems: These systems use refrigerants to absorb heat, evaporate at low pressure, and transfer heat to ambient air. Common in commercial buildings (hotels, offices, collective housing), DX systems offer reliability, ease of maintenance, and can be used for heating via heat pumps.
  • Chilled water systems: Utilising chilled water as the heat transfer medium, these systems distribute water throughout the building. Their superior heat transfer capabilities make them advantageous for larger structures, campuses and process cooling. Chilled water air-handling units or fan coil units with chilled water coils are commonly used.