Event Overview:
H.Stars Group is thrilled to announce its successful participation at BEX Asia 2023(September 3rd to September 6th, 2023), held at the Sands Expo & Convention Centre, 10 Bayfront Ave, Singapore 018956. This prestigious event, focusing on the new energy and building materials industries, garnered significant attention and resulted in a resounding success for our company.
This event, co-located with the new energy and building materials sectors, enjoyed a robust overall footfall. With approximately 200 exhibitors in total, the majority hailed from Singapore, constituting 70% of the exhibitor base. China was represented by around 15 exhibitors, while Canada, Belgium, and South Korea each had 1-2 exhibitors. The exhibition primarily attracted engineering and consulting companies with a keen interest in innovative and environmentally-friendly projects.
Personal Insights:
Singapore's Leading Role in Asia: As Asia's highest per capita GDP nation, Singapore stands at the forefront of economic development and advanced equipment requirements. Simultaneously, the refrigeration industry in Singapore is increasingly emphasizing energy efficiency and environmentally-conscious technologies. The government has enacted stringent energy efficiency standards and environmental regulations to steer the refrigeration industry toward a more sustainable future. Starting from 2023, the Singaporean government has introduced new policies stipulating that local importers of large screw chillers (over 300RT) must obtain government-issued qualifications. Additionally, these units must employ low GWP (Global Warming Potential) refrigerants. This will undoubtedly elevate the entry threshold for large unit manufacturers aiming to penetrate the Singaporean market.
Diverse Demand for Refrigeration Equipment:
Situated in a tropical region, Singapore exhibits significant demand for refrigeration equipment across multiple sectors, including residential and commercial air conditioning systems, the food and beverage industry, medical and pharmaceutical fields, as well as the port and shipping sector. It's noteworthy that the commercial large-scale screw machine market in Singapore is currently dominated by four major brands—York, Daikin, Carrier, and Trane, with Trane holding the top position. While it may pose challenges for HSTARS screw chillers to enter the commercial market, there is a promising opportunity to explore the industrial sector and introduce new fourth-generation refrigerant units. Singapore's commitment to environmental protection necessitates not only energy efficiency but also responsible refrigerant usage. The development of new refrigerant units and cost-effective products will expedite HSTARS’ entry into developed markets.
Visitor Priorities and Prospects:
A significant portion of visiting customers at the exhibition expressed particular interest in the following areas:
1) The availability of projects in Singapore
2) Solutions for unit debugging and after-sales maintenance
3) The energy efficiency ratings measured by COP (Coefficient of Performance). To capitalize on the burgeoning Singaporean market, fostering collaborations with engineering companies within the industry as agents holds the potential for substantial business growth.
In Conclusion:
H.Stars Group's participation at BEX Asia 2023 was met with tremendous success, highlighting Singapore's leadership in economic development and green technology adoption. The country's commitment to sustainability, coupled with a diverse demand for refrigeration solutions, presents exciting opportunities for future growth. As the industry evolves to meet stricter standards, H.Stars Group is poised to make significant strides in the refrigeration industry of developed countries.
