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Middle East and Africa (MEA) HVAC Market (2014-2024)

Middle East and Africa (MEA) HVAC Market (2014-2024)

  • January 2019
  • 295 pages
  • ID: 5760334
  • Format: PDF
  • By Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

Middle East and Africa (MEA) HVAC Market (2014-2024)

The Middle East and Africa (MEA) HVAC market is projected to generate a revenue of $10.1 billion by 2024, as per the study. The market is being driven by several factors, such as surging religious tourism, growing construction industry, and upcoming major events. Further, climate change is boosting the market growth year-over-year (YOY) in the Middle East as well.

On segmenting by HVAC type, the MEA HVAC market is categorized into ventilation, heating, and cooling. The cooling category is subdivided into chillers, split units, ducted split/packaged units, VRFs, and room air conditioners (RACs). Among these, the VRF category is expected to grow the fastest during the forecast period, as VRF systems are more economical and are becoming popular in commercial spaces, such as hypermarkets/supermarkets, offices, and stadiums.

In addition, the number of green buildings being constructed in the region is witnessing a positive YoY growth, which is driving the demand for VRF systems. The construction of green buildings, such as the King Abdullah Financial District in Saudi Arabia, are fueling the demand for high-efficiency VRF systems. VRF systems and single splits (ducted and ductless) together account for more than 50.0% of the total number of HVAC systems installed in commercial offices or buildings in the country.

Looking at the increase in temperature in the Middle East and sub-Saharan region, having a HVAC system is no longer considered a luxury, but a necessity. The change in climate has become a major driver for HVAC systems sales that were at their peak during the summer of 2017. That season, countries, including Kuwait, Iran, and Iraq, recorded the highest temperature of 54°C! According to the Max Planck Institute for Chemistry, the summer temperature in the MEA region is slated to rise twice as fast as the global average. Therefore, the increasing temperature would offer lucrative opportunities to the players in the Middle East and Africa HVAC market.

Geographically, the African continent is divided into two by the Equator. Now, countries close to the Equator have a mean yearly temperature of around 32°C with 40–50.0% humidity. The economic stability in countries, such as the Republic of Congo, Uganda, Kenya, Gabon and Nigeria, has led to a rise in the spending capacity of citizens. Therefore, the increasing income, and the hot and humid climate in the region are leading to the growth of the Middle East and Africa HVAC market.

Johnson Controls International plc, United Technologies Corporation, and Ingersoll-Rand plc together held over 50.0% share in the Middle East and Africa HVAC market in 2017. Apart from these, other companies are also increasingly introducing new products to maintain or establish their leadership. For example, Daikin Industries Ltd. announced the launch of its high-efficiency inverter screw chiller series with R-1234ze(E) refrigerant in December 2017.

Middle East and Africa (MEA) HVAC Market
Market Segmentation by HVAC Type
- Heating

• Heat Pumps
• Boilers
• Furnaces
• Unitary Heaters

- Ventilation

• Ventilation Fans
• Air Handling Units and Fan Coil Units
• Humidifiers/Dehumidifiers
• Air Cleaner

- Cooling

• Ducted Split/Packaged Units
• Split Units
• Room ACs
• Chillers
• Variable Refrigerant Flow

Market Segmentation by End-User
- Commercial

• Commercial Offices/Buildings
• Hospitality
• Supermarkets/Hypermarkets
• Government
• Transportation
• Healthcare
• Others (educational institutions, data centers, banks, departmental stores, and convenience stores)

- Industrial

• Oil and Gas
• Energy and Utilities
• Food and Beverage
• Automotive
• Others (electronics, textile, and chemical and cement)

- Residential

Market Segmentation by Country
- Saudi Arabia
- U.A.E
- Kuwait
- Qatar
- Nigeria
- South Africa
- Egypt
- Oman and Bahrain
- Israel
- Rest of MEA

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