TECO Electric & Machinery, a leading force in the electromechanical industry, is setting its sights on commercial air-conditioning amid forecasts of soaring electricity prices driving up demand. With an ambitious growth target of 25% in commercial air-conditioning and a 20% increase in household use, the company is poised to capitalize on the burgeoning demand across the board. The focus is particularly sharp on Southeast Asia, with Vietnam, Indonesia, and China marked as key markets for expansion. The expectation? A potential doubling in growth, thanks to the region’s relatively low base period.
During its “2024 New Product Launch Conference,” TECO outlined its strategy to pivot from primarily serving motor customers to aggressively pursuing the air-conditioning market. This shift is partly spurred by the global trend toward ESG (Environmental, Social, and Governance) compliance, where the drive for carbon reduction aligns with the need for more efficient air-conditioning solutions. TECO’s commitment to sustainability is further evidenced by its investment in solar power generation, aiming for complete factory coverage by year’s end.
The company’s strategy also leans heavily on technological innovation. By offering high-energy-efficiency products and smart living solutions, TECO is not just selling air conditioners; it’s promising significant electricity savings and, by extension, cost reductions for its customers. This focus on energy efficiency resonates well with the Taiwanese market, where TECO is targeting over 20% growth. The global shift towards smarter, more sustainable energy solutions appears to be a fertile ground for TECO, as it aligns its offerings with the current economic and environmental zeitgeist, marking a significant pivot in its business strategy towards a greener, more sustainable future.
