'Why this? It's killing business'
Standing beside his Chapel Street restaurant, Mourad Mohsiine gazed at a traffic jam on Tuesday (May 13).
The queue was moving at a snail's pace. It was like this on Monday afternoon, and every midweek hometime rush hour last week. And the 42-year-old believes his Moroccan eatery Fez Tajine is 'suffering' because of it.
'This is the first week and we've already seen signs of it affecting the business,' he explained. 'We rely on passing trade and people coming from different places. Chapel Walks and Chapel Street is the heart of this area.'
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At the moment, the heart of the area is covered in roadworks causing 'hour long' jams for buses, deliveries, emergency services, and motorists.
The cones and the closure arrived last week (May 6) to allow workers to build more space for buses, extra room for pedestrians, and new bike lanes. It will be in place until next April.
Salford council has apologised for the disruption, and insisted shutting Chapel Street eastbound, away from town, 'remains the safest, most efficient option to complete the works, balancing the needs of residents, businesses, pedestrians, cyclists, and public transport in a constrained city centre environment'.
But Mourad, and other businesses on Chapel Street, say the scheme is driving people away, affecting deliveries, and compromising the quality of their products.
The restaurateur continued: 'What we're trying to do is bring a bit of life to this side of Salford. It used to be that no-one wanted anything to do with this area but with these businesses there's a bit of life on this street.
'We are already suffering from a lot of things as a business - people can't afford to go out as much as they used to be able to. It's really tough at the moment for a new business. We need a reward or some kind of support for this.'
Next door, Matt McGuire runs the F45 gym. His review of the situation is short: 'It's s***, it's shocking.'
He goes on: 'It's really doing me no favours. My classes tend to be at peak times - before and after work - and people can't turn up. At this class I've got now, I've got about four people missing and I'm losing money.'
Like Matt and Mourad, Ramadan Nashnush is seeing clients drop off as they avoid the area.
While people can go to Fez Tajine and F45 without using a car, Ramadan's customers can't, as he runs Nash's garage which does MOTs, servicing, and bodywork repairs.
The 53-year-old explained how it affected him: 'People are thinking they cannot come in. Why are they closing it?
'It's one year. It's killing business. We need to pay tax and rent. Why this? It's not good.'
Ramadan was speaking at 11am on Tuesday, when the traffic had dissipated. But 'three appointments cancelled' that morning, so he 'lost money'.
However, not every firm is suffering. The manager of Black Lion pub, Josh, said he hasn't noticed an impact.
'I do not think this has affected us,' he said. 'The people who come in just want a drink, whenever sport is on people just want two.'
That being said, there are firms here which go to customers directly, rather than welcoming them in. For them it's been a difficult week.
Omer Kula, 40, is the manager of Ohannes burger bar on Chapel Street. He outlined how it 'affected us': 'It's affecting the delivery drivers, they cannot reach the shop in time, so it's affecting the order quality. We've been here two years, it's not been easy. This is not good.'
Sophie Smith, 23, works at estate agents The Property Place, where staff have to do multiple viewings — sometimes as far away as Preston or Leeds.
'I live in Eccles and it's normally 15 minutes to get home, now it's an hour,' she added. 'We look forward to the school holidays, but we will not be this year because it's no different.'
And as Sophie pointed out, it's not just drivers and businesses who have been hurt. 'The buses would still be stuck', she said after one photo showing 40 gridlocked last Thursday as Manchester United played at Old Trafford, also closing other arterial roads nearby.
In response to the complaints, Councillor Mike McCusker, lead member for planning, transport and sustainable development, said: 'Salford City Council have planned the works on Chapel Street carefully, and as part of that process all partners have considered and explored a number of options to maintain traffic flows in the city centre.
'This was in partnership with Manchester City Council and Transport for Greater Manchester.
'The current one-way closure remains the safest, most efficient option to complete the works, balancing the needs of residents, businesses, pedestrians, cyclists, and public transport in a constrained city centre environment.
'The one-way closure extends over approximately 400 meters of the city centre road network. While roadworks can impact disruption to traffic flow, the periods of increased congestion and delays are primarily due to the overall capacity of the network being affected by a combination of incidents, popular events, and high vehicle volumes, rather than solely by the temporary roadworks.'

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The United Nations projects Indonesia's urban population to exceed 190 million by 2030, with significant growth already evident this year. Projects in emerging urban areas like Bekasi are integrating HVAC systems to cater to modern lifestyle needs, reflecting a deep-rooted demand shaped by local density and heat. Request Sample Pages: Beyond major cities, smaller towns like Depok and Tangerang are seeing a rise in middle-class housing projects, often incorporating split-type air conditioners as standard features. The Indonesian Ministry of Public Works and Housing reported over 500,000 new housing units built in 2023, with a similar trend in 2024, particularly in Java. Developments tied to the new capital, Nusantara, are prioritizing locally adapted HVAC technologies to withstand tropical conditions. This urban expansion, combined with cultural preferences for cooler indoor environments during religious and communal gatherings like Ramadan, underscores a unique market trajectory. The blend of urban growth and local lifestyle needs positions Indonesia as a hotspot for HVAC solutions tailored to its diverse, densely populated regions. 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Industries such as palm oil processing, automotive, and electronics require precise climate control for equipment and worker safety. The Indonesian Ministry of Industry recorded over 2,500 new industrial registrations in early 2024, with many facilities in West Java installing industrial-grade chillers. Local giants like Astra International are investing in tailored HVAC setups to maintain productivity in humid factory environments. This industrial momentum is amplified by foreign investments from countries like Japan, often tied to infrastructure mandates that include modern HVAC systems. The government's 'Making Indonesia 4.0' initiative further encourages smart industrial zones, as seen in the Karawang International Industrial City, where ventilation systems are critical due to year-round heat. Localized challenges, such as frequent power outages in rural industrial areas, drive demand for energy-resilient solutions. Additionally, cultural workplace norms emphasizing employee comfort during long hours fuel HVAC adoption. As Indonesia cements its role as a manufacturing powerhouse in ASEAN, the market for specialized cooling systems continues to evolve, reflecting both global trends and distinctly local operational needs. Energy Efficiency Trends Reshaping Local HVAC Needs Energy efficiency is a cornerstone of the Indonesia HVAC systems market in 2024, influenced by rising electricity costs and local sustainability goals. With frequent power tariff adjustments by PLN (Perusahaan Listrik Negara), households and businesses in cities like Medan prioritize inverter-based units to manage expenses. The Indonesian Energy Ministry notes high energy consumption in residential sectors, pushing brands like Sharp to introduce eco-friendly refrigerants suited for local humid conditions. This shift is vital in a nation where cooling is a daily necessity. Moreover, Indonesia's National Energy Policy enforces stricter building codes, particularly in commercial hubs like Jakarta's Sudirman area, where over 300 green building certifications were granted in 2024 by the Green Building Council Indonesia. Local campaigns, often tied to cultural values of resource conservation, amplify public adoption of energy-saving HVAC units. For instance, shopping centers like Plaza Senayan are retrofitting systems to align with these standards, reflecting community-driven sustainability efforts. Government subsidies for energy-efficient appliances during festivals like Idul Fitri further boost uptake. As efficiency becomes a market differentiator, manufacturers are innovating with smart thermostats tailored to Indonesia's tropical climate, ensuring solutions resonate with both policy mandates and the unique energy challenges faced by local consumers. Tech Innovations Transforming HVAC in Indonesian Context The Indonesia HVAC systems market is embracing technological advancements in 2024, with smart and IoT-enabled systems gaining ground among urban Indonesians. Features like app-based controls are popular in tech hubs like Yogyakarta, where young professionals value convenience. The Indonesian Internet Service Providers Association reports over 200 million active internet users in 2024, driving demand for connected HVAC units in cities with high digital penetration. Local retailers are promoting Wi-Fi-enabled models by brands like Toshiba, aligning with Indonesia's digital lifestyle trends. Additionally, Variable Refrigerant Flow (VRF) systems are increasingly adopted in Bali's tourism-driven commercial spaces, where hotels like those in Nusa Dua optimize guest comfort amid fluctuating occupancy. Localized innovations address challenges like frequent dust and humidity, with AI-driven systems adjusting to seasonal monsoon patterns. 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This regulatory push is reshaping product lines to meet Indonesia's commitment to global climate goals. Furthermore, building codes enforced by the Ministry of Public Works and Housing mandate energy certifications for structures in urban centers like Surabaya, with around 1,200 buildings audited in 2024. Local policies in Jakarta offer incentives for retrofitting traditional markets like Pasar Baru with sustainable systems, blending cultural preservation with modern standards. These regulations, while challenging for smaller local vendors, encourage innovation, as seen in partnerships with ASEAN counterparts for compliant tech transfers. Community-driven enforcement, often tied to regional governance in Kalimantan, ensures adherence reflects local needs. As regulatory frameworks tighten, they create a market where sustainability and compliance are intertwined, driving HVAC solutions that balance global standards with Indonesia's unique socio-economic and environmental landscape. Tropical Climate Challenges Impacting HVAC Durability The Indonesia HVAC systems market faces distinct hurdles in 2024 due to the country's tropical climate, marked by high humidity and temperatures averaging 28-32°C, per the Indonesian Meteorological Agency. In coastal cities like Semarang, constant heat strains systems, necessitating robust designs for continuous operation. Local power grid stress, especially during dry season peaks in Sumatra, amplifies the need for reliable HVAC units that can handle frequent usage without failure, a critical concern for urban and rural users alike. Moreover, extreme weather events, including heatwaves and monsoons, test system resilience, with over 1,500 monthly repair calls reported in Jakarta alone in 2024. Manufacturers like Samsung are developing corrosion-resistant units for humid regions like Sulawesi, while flooding risks in low-lying areas demand protective designs, as seen in post-flood retrofits in Kalimantan. Culturally, the reliance on cooling during communal events like weddings in open venues adds to wear and tear. Local service providers are adapting by offering monsoon-specific maintenance packages. As climate challenges intensify, the market responds with innovations tailored to Indonesia's environmental realities, ensuring HVAC systems endure the archipelago's unique weather patterns while meeting the cultural and practical needs of its diverse population. Consumer Behaviors Driving Local HVAC Choices Consumer preferences are pivotal in the Indonesia HVAC systems market in 2024, shaped by affordability and trust in local contexts. With over 70 million middle-income individuals, per the Indonesian Central Statistics Agency, cost-effective split units dominate purchases in smaller cities like Palembang. Local brands like Midea cater to budget-conscious buyers in rural Kalimantan, where cultural norms prioritize essential spending over luxury. Price sensitivity remains key, often tied to seasonal sales during national holidays like Independence Day. Conversely, urban consumers in Jakarta and Bandung value after-sales support, reflecting a cultural emphasis on long-term reliability, with a 2024 survey of 60,000 respondents highlighting service as a top priority. Air purification features are increasingly sought in polluted cities like Palangkaraya, driven by health concerns post-haze seasons. E-commerce platforms like Shopee offer localized promotions, tapping into communal buying trends during village festivals. Retail strategies also adapt to regional dialects and payment preferences, ensuring accessibility. As consumer needs vary across Indonesia's diverse islands, the HVAC market mirrors this complexity, blending affordability with modern demands and catering to cultural nuances like communal living spaces that influence system size and functionality choices. Need Custom Data? Let Us Know: Emerging Horizons for HVAC Growth in Indonesia The Indonesia HVAC systems market holds promising opportunities in 2024, driven by localized sustainability and smart infrastructure initiatives. The development of Nusantara, the new capital in East Kalimantan, emphasizes renewable integration, with over 200 buildings piloting solar-powered HVAC systems this year. This aligns with cultural values of environmental stewardship often seen in Borneo communities, creating a niche for green technologies. Early adopters stand to gain as Indonesia pursues renewable energy targets tailored to its resource-rich regions. Additionally, smart city projects in Bandung and Makassar, with over 50 initiatives launched in 2024, integrate IoT-enabled HVAC systems into urban planning, reflecting local governance priorities for efficiency. Tourism recovery in Lombok drives hotel upgrades with modern cooling, leveraging cultural hospitality standards to attract visitors. Partnerships between local tech startups and global firms like Carrier are fostering innovations suited for Indonesia's tropical challenges. Community-driven demand for affordable smart solutions, especially in peri-urban areas, further shapes market potential. As these trends converge, the HVAC sector in Indonesia emerges as a landscape of opportunity, blending global advancements with deeply rooted local needs, offering vast potential for stakeholders attuned to the archipelago's unique economic and cultural fabric. Indonesia HVAC Systems Market Key Players: Mitsubishi Electric Corporation Daikin Industries, Ltd. 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Ask Before You Buy: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
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Indonesia HVAC Systems Market to Surpass Valuation of US$ 17.56 Billion by 2035
Indonesia HVAC systems market demonstrates strong maturity through established distribution networks, local manufacturing capabilities, and regulatory frameworks, while untapped residential segments, secondary city expansion, and energy efficiency transitions present substantial growth opportunities for manufacturers and investors. Chicago, June 09, 2025 (GLOBE NEWSWIRE) -- The Indonesia HVAC systems market was valued to US$ 5.82 billion in 2024 and is expected to reach 17.56 billion by 2035, growing at a CAGR of 10.69% during the forecast period 2025–2035. The Indonesia HVAC systems market is experiencing a surge in demand in 2024, driven by rapid urbanization across the archipelago. Megacities like Jakarta, Surabaya, and Bandung are expanding, with sprawling high-rises and commercial complexes like Grand Indonesia mall requiring advanced climate control solutions. The United Nations projects Indonesia's urban population to exceed 190 million by 2030, with significant growth already evident this year. Projects in emerging urban areas like Bekasi are integrating HVAC systems to cater to modern lifestyle needs, reflecting a deep-rooted demand shaped by local density and heat. Request Sample Pages: Beyond major cities, smaller towns like Depok and Tangerang are seeing a rise in middle-class housing projects, often incorporating split-type air conditioners as standard features. The Indonesian Ministry of Public Works and Housing reported over 500,000 new housing units built in 2023, with a similar trend in 2024, particularly in Java. Developments tied to the new capital, Nusantara, are prioritizing locally adapted HVAC technologies to withstand tropical conditions. This urban expansion, combined with cultural preferences for cooler indoor environments during religious and communal gatherings like Ramadan, underscores a unique market trajectory. The blend of urban growth and local lifestyle needs positions Indonesia as a hotspot for HVAC solutions tailored to its diverse, densely populated regions. Key Findings in Indonesia HVAC Systems Market Market Forecast (2035) US$ 17.56 billion CAGR 10.69% By Technology Conventional HVAC Systems (79.95%) By Energy Source Electric-Powered HVAC Systems (74.01%) By Installation Type New Installations (57.50%) By Capacity 2-5 Tons (39.92%) By End Use Application Residential (50.26%) By Distribution Channel Offline (79.57%) Top Drivers Residential energy saving regulations mandate adoption of efficient systems Rapid urbanization drives demand for climate control in cities Rising middle class disposable incomes boost home comfort spending Top Trends Solar powered HVAC systems integrate photovoltaic technology for sustainability IoT enabled systems allow businesses to monitor energy consumption Commercial sector adopts Variable Refrigerant Flow systems for efficiency Top Challenges Solar powered HVAC systems integrate photovoltaic technology for sustainability IoT enabled systems allow businesses to monitor energy consumption Commercial sector adopts Variable Refrigerant Flow systems for efficiency Industrial Surge Powering HVAC Adoption Locally In 2024, the Indonesia HVAC systems market is significantly boosted by the nation's industrial growth, particularly in manufacturing hubs like Cikarang and Batam. Industries such as palm oil processing, automotive, and electronics require precise climate control for equipment and worker safety. The Indonesian Ministry of Industry recorded over 2,500 new industrial registrations in early 2024, with many facilities in West Java installing industrial-grade chillers. Local giants like Astra International are investing in tailored HVAC setups to maintain productivity in humid factory environments. This industrial momentum is amplified by foreign investments from countries like Japan, often tied to infrastructure mandates that include modern HVAC systems. The government's 'Making Indonesia 4.0' initiative further encourages smart industrial zones, as seen in the Karawang International Industrial City, where ventilation systems are critical due to year-round heat. Localized challenges, such as frequent power outages in rural industrial areas, drive demand for energy-resilient solutions. Additionally, cultural workplace norms emphasizing employee comfort during long hours fuel HVAC adoption. As Indonesia cements its role as a manufacturing powerhouse in ASEAN, the market for specialized cooling systems continues to evolve, reflecting both global trends and distinctly local operational needs. Energy Efficiency Trends Reshaping Local HVAC Needs Energy efficiency is a cornerstone of the Indonesia HVAC systems market in 2024, influenced by rising electricity costs and local sustainability goals. With frequent power tariff adjustments by PLN (Perusahaan Listrik Negara), households and businesses in cities like Medan prioritize inverter-based units to manage expenses. The Indonesian Energy Ministry notes high energy consumption in residential sectors, pushing brands like Sharp to introduce eco-friendly refrigerants suited for local humid conditions. This shift is vital in a nation where cooling is a daily necessity. Moreover, Indonesia's National Energy Policy enforces stricter building codes, particularly in commercial hubs like Jakarta's Sudirman area, where over 300 green building certifications were granted in 2024 by the Green Building Council Indonesia. Local campaigns, often tied to cultural values of resource conservation, amplify public adoption of energy-saving HVAC units. For instance, shopping centers like Plaza Senayan are retrofitting systems to align with these standards, reflecting community-driven sustainability efforts. Government subsidies for energy-efficient appliances during festivals like Idul Fitri further boost uptake. As efficiency becomes a market differentiator, manufacturers are innovating with smart thermostats tailored to Indonesia's tropical climate, ensuring solutions resonate with both policy mandates and the unique energy challenges faced by local consumers. Tech Innovations Transforming HVAC in Indonesian Context The Indonesia HVAC systems market is embracing technological advancements in 2024, with smart and IoT-enabled systems gaining ground among urban Indonesians. Features like app-based controls are popular in tech hubs like Yogyakarta, where young professionals value convenience. The Indonesian Internet Service Providers Association reports over 200 million active internet users in 2024, driving demand for connected HVAC units in cities with high digital penetration. Local retailers are promoting Wi-Fi-enabled models by brands like Toshiba, aligning with Indonesia's digital lifestyle trends. Additionally, Variable Refrigerant Flow (VRF) systems are increasingly adopted in Bali's tourism-driven commercial spaces, where hotels like those in Nusa Dua optimize guest comfort amid fluctuating occupancy. Localized innovations address challenges like frequent dust and humidity, with AI-driven systems adjusting to seasonal monsoon patterns. For example, new office towers in Jakarta's SCBD district are integrating predictive maintenance tech to prevent downtime during peak rainy seasons. This tech wave, combined with cultural openness to modern conveniences, positions Indonesia uniquely in the regional HVAC innovation race. As digitalization intersects with local environmental needs, the market is witnessing a fusion of global advancements and solutions crafted for Indonesia's distinct climate and consumer behaviors. Regulatory Shifts Steering HVAC Standards Locally In 2024, the Indonesia HVAC systems market is shaped by stringent regulations reflecting national environmental and safety priorities. The Ministry of Energy and Mineral Resources aligns with the Kigali Amendment, phasing out high-GWP refrigerants and promoting alternatives like R-32, especially in densely populated Java. Over 50 compliant HVAC models were introduced this year, tailored to local manufacturing capabilities and tropical conditions. This regulatory push is reshaping product lines to meet Indonesia's commitment to global climate goals. Furthermore, building codes enforced by the Ministry of Public Works and Housing mandate energy certifications for structures in urban centers like Surabaya, with around 1,200 buildings audited in 2024. Local policies in Jakarta offer incentives for retrofitting traditional markets like Pasar Baru with sustainable systems, blending cultural preservation with modern standards. These regulations, while challenging for smaller local vendors, encourage innovation, as seen in partnerships with ASEAN counterparts for compliant tech transfers. Community-driven enforcement, often tied to regional governance in Kalimantan, ensures adherence reflects local needs. As regulatory frameworks tighten, they create a market where sustainability and compliance are intertwined, driving HVAC solutions that balance global standards with Indonesia's unique socio-economic and environmental landscape. Tropical Climate Challenges Impacting HVAC Durability The Indonesia HVAC systems market faces distinct hurdles in 2024 due to the country's tropical climate, marked by high humidity and temperatures averaging 28-32°C, per the Indonesian Meteorological Agency. In coastal cities like Semarang, constant heat strains systems, necessitating robust designs for continuous operation. Local power grid stress, especially during dry season peaks in Sumatra, amplifies the need for reliable HVAC units that can handle frequent usage without failure, a critical concern for urban and rural users alike. Moreover, extreme weather events, including heatwaves and monsoons, test system resilience, with over 1,500 monthly repair calls reported in Jakarta alone in 2024. Manufacturers like Samsung are developing corrosion-resistant units for humid regions like Sulawesi, while flooding risks in low-lying areas demand protective designs, as seen in post-flood retrofits in Kalimantan. Culturally, the reliance on cooling during communal events like weddings in open venues adds to wear and tear. Local service providers are adapting by offering monsoon-specific maintenance packages. As climate challenges intensify, the market responds with innovations tailored to Indonesia's environmental realities, ensuring HVAC systems endure the archipelago's unique weather patterns while meeting the cultural and practical needs of its diverse population. Consumer Behaviors Driving Local HVAC Choices Consumer preferences are pivotal in the Indonesia HVAC systems market in 2024, shaped by affordability and trust in local contexts. With over 70 million middle-income individuals, per the Indonesian Central Statistics Agency, cost-effective split units dominate purchases in smaller cities like Palembang. Local brands like Midea cater to budget-conscious buyers in rural Kalimantan, where cultural norms prioritize essential spending over luxury. Price sensitivity remains key, often tied to seasonal sales during national holidays like Independence Day. Conversely, urban consumers in Jakarta and Bandung value after-sales support, reflecting a cultural emphasis on long-term reliability, with a 2024 survey of 60,000 respondents highlighting service as a top priority. Air purification features are increasingly sought in polluted cities like Palangkaraya, driven by health concerns post-haze seasons. E-commerce platforms like Shopee offer localized promotions, tapping into communal buying trends during village festivals. Retail strategies also adapt to regional dialects and payment preferences, ensuring accessibility. As consumer needs vary across Indonesia's diverse islands, the HVAC market mirrors this complexity, blending affordability with modern demands and catering to cultural nuances like communal living spaces that influence system size and functionality choices. Need Custom Data? Let Us Know: Emerging Horizons for HVAC Growth in Indonesia The Indonesia HVAC systems market holds promising opportunities in 2024, driven by localized sustainability and smart infrastructure initiatives. The development of Nusantara, the new capital in East Kalimantan, emphasizes renewable integration, with over 200 buildings piloting solar-powered HVAC systems this year. This aligns with cultural values of environmental stewardship often seen in Borneo communities, creating a niche for green technologies. Early adopters stand to gain as Indonesia pursues renewable energy targets tailored to its resource-rich regions. Additionally, smart city projects in Bandung and Makassar, with over 50 initiatives launched in 2024, integrate IoT-enabled HVAC systems into urban planning, reflecting local governance priorities for efficiency. Tourism recovery in Lombok drives hotel upgrades with modern cooling, leveraging cultural hospitality standards to attract visitors. Partnerships between local tech startups and global firms like Carrier are fostering innovations suited for Indonesia's tropical challenges. Community-driven demand for affordable smart solutions, especially in peri-urban areas, further shapes market potential. As these trends converge, the HVAC sector in Indonesia emerges as a landscape of opportunity, blending global advancements with deeply rooted local needs, offering vast potential for stakeholders attuned to the archipelago's unique economic and cultural fabric. Indonesia HVAC Systems Market Key Players: Mitsubishi Electric Corporation Daikin Industries, Ltd. Berca Carrier Indonesia Hitachi Samsung Carrier Global Corporation Johnson Controls LG Electronics Panasonic Corporation PT Trane Indonesia Other Prominent Players Key Segmentation: By System Heating Systems Furnaces Boilers Heat Pumps Others Ventilation Systems Air Handling Units (AHUs) Exhaust Fans Air Filters & Purifier Humidifiers & Dehumidifiers Others Air Conditioning Systems Residential AC Split Systems Wall-mounted Floor-standing Ceiling Cassette Ceiling Concealed AC Multi-split Systems Window AC Commercial AC Packaged Air Conditioners VRV/VRF Systems Unitary Systems Applied Systems (Large-scale) Chillers Air-cooled Water-cooled Air Handling Units (AHU) Fan Coil Units (FCU) Refrigeration & Cold Storage Systems/Equipment Walk-In Coolers and Freezers Cold Rooms & Warehousing Units Display Refrigerators Blast Chillers & Freezers Transport Refrigeration Units Ultra-Low Temperature (ULT) Freezers Others By Technology Conventional HVAC Systems Smart HVAC Systems By Energy Source Electric-Powered HVAC Systems Gas-Powered HVAC Systems Hybrid HVAC Systems (Electric + Gas) Renewable Energy HVAC Systems By Installation New Installations Residential Commercial Retrofits & Replacements Residential Commercial By Capacity <2 Tons 2-5 Tons 5-20 Tons 20-50 Tons 50 Tons By End Use Application Residential Building Type Single-Family Homes Multi-Family Apartments Luxury Homes & Villas Condominiums Income Level Low Income Mid Income High Income Commercial Office Buildings Retail Convenience Stores & Small Shops Supermarkets & Hypermarkets Department Stores Others Shopping Malls Hospitality Industry Hotels Others Healthcare Facilities Educational Institutions Transportation Station Airports Commercial Multi (VRF) Industrial Pharmaceutical Oil & Gas Construction Food Processing Data Centres Warehouses Others By Distribution Channel Online Offline Direct Sales Distributors Retail/Electronics Stores Brand Stores Multi Brand Stores Need More Info? Ask Before You Buy: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

CNBC
3 days ago
- CNBC
'Bitcoin Family' hides crypto codes etched onto metal cards on four continents after recent kidnappings
A wave of high-profile kidnappings targeting cryptocurrency executives has rattled the industry — and prompted a quiet security revolution among some of its most visible evangelists. Didi Taihuttu, patriarch of the so-called "Bitcoin Family," said he overhauled the family's entire security setup after a string of threats. The Taihuttus — who sold everything they owned in 2017, from their house to their shoes, to go all-in on bitcoin when it was trading around $900 — have long lived on the outer edge of crypto ideology. They travel full-time with their three daughters and remain entirely unbanked. Over the past eight months, he said, the family ditched hardware wallets in favor of a hybrid system: Part analog, part digital, with seed phrases encrypted, split, and stored either through blockchain-based encryption services or hidden across four continents. "We have changed everything," Taihuttu told CNBC on a call from Phuket, Thailand. "Even if someone held me at gunpoint, I can't give them more than what's on my wallet on my phone. And that's not a lot." CNBC first reported on the family's unconventional storage system in 2022, when Taihuttu described hiding hardware wallets across multiple continents — in places ranging from rental apartments in Europe to self-storage units in South America. As physical attacks on crypto holders become more frequent, even they are rethinking their exposure. This week, Moroccan police arrested a 24-year-old suspected of orchestrating a series of brutal kidnappings targeting crypto executives. One victim, the father of a crypto millionaire, was allegedly held for days in a house south of Paris — and reportedly had a finger severed during the ordeal. In a separate case earlier this year, a co-founder of French wallet firm Ledger and his wife were abducted from their home in central France in a ransom scheme that also targeted another Ledger executive. Last month in New York, authorities said, a 28-year-old Italian tourist was kidnapped and tortured for 17 days in a Manhattan apartment by attackers trying to extract his bitcoin password — shocking him with wires, beating him with a gun, and strapping an Apple AirTag around his neck to track his movements. The common thread: The pursuit of crypto credentials that enable instant, irreversible transfers of virtual assets. "It is definitely frightening to see a lot of these kidnappings happen," said JP Richardson, CEO of crypto wallet company Exodus. He urged users to take security into their own hands by choosing self-custody, storing larger sums on hardware wallets, and — for those holding significant assets — exploring multi-signature wallets, a setup typically used by institutions. Richardson also recommended spreading funds across different wallet types and avoiding large balances in hot wallets to reduce risk without sacrificing flexibility. That rising sense of vulnerability is fueling a new demand for physical protection with insurance firms now racing to offer kidnap and ransom (K&R) policies tailored to crypto holders. But Taihuttu isn't waiting for corporate solutions. He's opted for complete decentralization — of not just his finances, but his personal risk profile. As the family prepares to return to Europe from Thailand, safety has become a constant topic of conversation. "We've been talking about it a lot as a family," Taihuttu said. "My kids read the news, too — especially that story in France, where the daughter of a CEO was almost kidnapped on the street." Now, he said, his daughters are asking difficult questions: What if someone tries to kidnap us? What's the plan? Though the girls carry only small amounts of crypto in their personal wallets, the family has decided to avoid France entirely. "We got a little bit famous in a niche market — but that niche is becoming a really big market now," Taihuttu said. "And I think we'll see more and more of these robberies. So yeah, we're definitely going to skip France." Even in Thailand, Taihuttu recently stopped posting travel updates and filming at home after receiving disturbing messages from strangers who claimed to have identified his location from YouTube vlogs. "We stayed in a very beautiful house for six months — then I started getting emails from people who figured out which house it was. They warned me to be careful, told me not to leave my kids alone," he said. "So we moved. And now we don't film anything at all." "It's a strange world at the moment," he said. "So we're taking our own precautions — and when it comes to wallets, we're now completely hardware wallet-less. We don't use any hardware wallets anymore." The family's new system involves splitting a single 24-word bitcoin seed phrase — the cryptographic key that unlocks access to their crypto holdings — into four sets of six words, each stored in a different geographic location. Some are kept digitally through blockchain-based encryption platforms, while others are etched by hand into fireproof steel plates using a hammer and letter punch, then hidden in physical locations across four continents. "Even if someone finds 18 of the 24 words, they can't do anything," Taihuttu explained. On top of that, he's added a layer of personal encryption, swapping out select words to throw off would-be attackers. The method is simple, but effective. "You only need to remember which ones you changed," he said. Part of the reason for ditching hardware wallets, Taihuttu said, was a growing mistrust of third-party devices. Concerns about backdoors and remote access features — including a controversial update by Ledger in 2023 — prompted the family to abandon physical hardware altogether in favor of encrypted paper and steel backups. While the family still holds some crypto in "hot" wallets — for daily spending or to run their algorithmic trading strategy — those funds are protected by multi-signature approvals, which require multiple parties to sign off before a transaction can be executed. The Taihuttus use Safe — formerly Gnosis Safe — for ether and other altcoins, and similarly layered setups for bitcoin stored on centralized platforms like Bybit. About 65% of the family's crypto is locked in cold storage across four continents — a decentralized system Taihuttu prefers to centralized vaults like the Swiss Alps bunker used by Coinbase-owned Xapo. Those facilities may offer physical protection and inheritance services, but Taihuttu said they require too much trust. "What happens if one of those companies goes bankrupt? Will I still have access?" he said. "You're putting your capital back in someone else's hands." Instead, Taihuttu holds his own keys — hidden across the globe. He can top up the wallets remotely with new deposits, but accessing them would require at least one international trip, depending on which fragments of the seed phrase are needed. The funds, he added, are intended as a long-term pension to be accessed only if bitcoin hits $1 million — a milestone he's targeting for 2033. The shift toward multiparty protections extends beyond just multi-signature. Multi-party computation, or MPC, is gaining traction as a more advanced security model. Instead of storing private keys in one place — a vulnerability known as a "single point of compromise" — MPC splits a key into encrypted shares distributed across multiple parties. Transactions can only go through when a threshold number of those parties approve, sharply reducing the risk of theft or unauthorized access. Multi-signature wallets require several parties to approve a transaction. MPC takes that further by cryptographically splitting the private key itself, ensuring that no single individual ever holds the full key — not even their own complete share. The shift comes amid renewed scrutiny of centralized crypto platforms like Coinbase, which recently disclosed a data breach affecting tens of thousands of customers. Taihuttu, for his part, says 80% of his trading now happens on decentralized exchanges like Apex — a peer-to-peer platform that allows users to set buy and sell orders without relinquishing custody of their funds, marking a return to crypto's original ethos. While he declined to reveal his total holdings, Taihuttu did share his goal for the current bull cycle: a $100 million net worth, with 60% still held in bitcoin. The rest is a mix of ether, layer-1 tokens like solana, link, sui, and a growing number of AI and education-focused startups — including his own platform offering blockchain and life-skills courses for kids. Lately, he's also considering stepping back from the spotlight. "It's really my passion to create content. It's really what I love to do every day," he said. "But if it's not safe anymore for my daughters ... I really need to think about them."