Middle East and Africa HVAC Chillers Market Share and Forecast by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Middle East and Africa HVAC Chillers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, and Absorption Chillers), and Application (Industrial, Commercial, and Residential)
- Report Date : Nov 2021
- Report Code : TIPRE00026116
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 115
The MEA HVAC chillers market is expected to grow from US$ 350.53 million in 2021 to US$ 404.35 million by 2028; it is estimated to grow at a CAGR of 2.1% from 2021 to 2028.
The UAE, Saudi Arabia, and South Africa are major economies in MEA. The improving economic conditions across the region coupled with urbanization has led to the growth in the industrial sector. There has been a rise in the construction of medical centers, malls, complexes, hotels, commercial buildings, and manufacturing facilities, which propels the demand for HVAC chillers. Urbanization has changed the lifestyle of the people and increased the inclination towards safety and security. Technological developments along with the modifications in government and organizational regulations for temperature control contributes towards the growth of the HVAC chiller market. Surging disposable income, temperature concerns, and spending on comfort and luxury are a few factors that drive the growth of the MEA HVAC chillers market.
Countries in MEA, especially South Africa, are highly affected due to the COVID-19 outbreak. The Middle East is an important oil-producing region in the world that comprises countries such as South Africa, Saudi Arabia, and the UAE. The COVID-19 pandemic has exposed the economies in the region to many additional challenges as most of countries faced a slack in the transportation operations, dip in goods demands, and disruptions in supply chain operations in FY 2020. Moreover, the UAE was estimated to be the largest market for HVAC chillers in the Middle East & Africa in FY 2020, according to the research study. The MEA market is majorly impacted owing to supply chain disruption. Further, as country boarders were closed, the supply chain of several industrial equipment and components were disturbed. This has led to a decline in revenue of the HVAC chiller manufacturers and distributors offering their products to different sectors, such as industrial, commercial, and residential applications. However, the restrictions are eased in 2021, and manufacturing of HVAC chillers gained traction as the demand for cooling devices across commercial and industrial facilities is growing.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA HVAC chillers market. The MEA HVAC chillers market is expected to grow at a good CAGR during the forecast period.
MEA HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
MEA HVAC Chillers Market Segmentation
MEA HVAC Chillers Market By Technology
- Air-Cooled
- Water-Cooled
- Steam-Fired
MEA HVAC Chillers Market By Type
- Process Chillers
- Scroll Chillers
- Screw Chillers
- Centrifugal Chillers
- Absorption Chillers
MEA HVAC Chillers Market By Application
- Industrial
- Commercial
- Residential
MEA HVAC Chillers Market, by Country
- South Africa
- UAE
- Saudi Arabia
- Rest of MEA
MEA HVAC Chillers Market - Companies Mentioned
- AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
- Carrier Global Corporation
- DAIKIN INDUSTRIES, Ltd.
- Johnson Controls, Inc.
- Kaltra
- LG Electronics
- Mitsubishi Electric Corporation
- SKM Air Conditioning
- Trane
Middle East and Africa HVAC Chillers Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 350.53 Million |
| Market Size by 2028 | US$ 404.35 Million |
| Global CAGR (2021 - 2028) | 2.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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1. AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
2. Carrier Global Corporation
3. DAIKIN INDUSTRIES, Ltd.
4. Johnson Controls, Inc.
5. Kaltra
6. LG Electronics
7. Mitsubishi Electric Corporation
8. SKM Air Conditioning
9. Trane
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