Johnson Controls eyes 40% output growth, mulls IPO: CEO

Mohanad AlShaikh, CEO of Johnson Controls

Johnson Controls Arabia aims to increase production by 30%-40% during 2025, with regional expansion in new markets, including Bahrain, Oman and Egypt, as well as boosting exports to global markets, CEO Mohanad AlShaikh told Argaam in an interview.

In the recent years, the company witnessed significant expansion and now manufactures 90% of its products domestically at its plant in King Abdullah Economic City (KAEC), compared to 30% previously.

Johnson Controls Arabia exports its products to more than 26 countries, including the United States and China, he added.

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The Kingdom’s air conditioning market is estimated at SAR 18 billion, with further growth expected at 8% in 2025. This is driven by the country’s shift towards mega projects such as data centers, which depend mainly on cooling and air conditioning solutions, in addition to the expansion of the food storage sector in light of enhancing food security, the CEO indicated.

He further pointed out that the company started 2025 with an unprecedented level of requests compared to the recent years, which translates to compound annual growth rate in sales of 15% over the past three to four years.

AlShaikh stated that there are major changes in other areas, such as the food industry and food storage, as the Kingdom is witnessing an expansion of food security projects, which enhances the demand for industrial cooling solutions.

On the possibility of the company's initial public offering (IPO) in the Saudi market, he revealed that there are ongoing discussions with the board of directors and owners. All the options are being taken into account and this file will be resolved during the coming period, he said.