STIEBEL ELTRON Expands Heat Pump Manufacturing in Thailand with 600 Million Baht Investment

Thailand will get 600 million baht as part of STIEBEL ELTRON's 2024 investment plan, which aims to position the country as a center for heat pump manufacture for sale to export markets, including China and Australia. Since 2001, the company's production facility in the Bang Pa-In Industrial Estate in Ayutthaya has been producing water heaters for the Thai market as well as export markets around Asia.

The plant's annual sales growth has led to it operating at maximum capacity. Thus, preparations are under way for a fresh 600 million baht investment that will cover the price of both land and building in a neighboring location. Beginning operations in 2025, this new factory will largely concentrate on export manufacturing.

The company anticipates development potential in line with the worldwide trend of energy saving, notably in Thailand, despite the fact that the current market for heat pumps is not very large in the country. Small resorts and hotels looking for cost-effective renewable energy solutions comprise the main market for heat pumps in Thailand.

Source: Stiebel Eltron