MEA HVAC Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions by 2024
The Middle East and Africa (MEA) HVAC market is expected to reach $10.1 billion by 2024. The market is buoyed by several factors including overall growth in construction industry, surging religious tourism, and upcoming major events. In addition to this, major climate change is further fueling the market growth year-over-year (YoY) in the region.
On the basis of HVAC type, the Middle East and Africa HVAC market is segmented into heating, ventilation, and cooling, wherein cooling category is further segmented into VRF, ducted split/packaged unit, split unit, chillers, and room air conditioners (RACs).
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On the basis of end-user, the Middle East and Africa HVAC market is segmented into commercial, industrial and residential, wherein commercial is further split into commercial offices/buildings, hospitality, supermarkets/hypermarkets, government, transportation, and healthcare.
Chillers are the most commonly used HVAC systems in commercial buildings in the region. However, with rising construction of green building projects, such as King Abdullah Financial District (KAFD) in Saudi Arabia, the country’s new financial hub, is pushing the demand for high efficiency VRF systems.
Geographically, African continent is split into two by equator by an imaginary gridline, wherein the countries near equator have an average annual temperature of around 32°C with humidity level hovering around 40-50%.
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Some of the major players in the Middle East and Africa HVAC market are Johnson Controls International PLC, Ingersoll-Rand plc, United Technologies Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, Toshiba Carrier Corporation, LG Electronics Inc., Fujitsu Limited, Midea Group Co. Ltd., Gree Electric Appliances, Inc. of Zhuhai, Danfoss A/S.
Middle East and Africa (MEA) HVAC Market
Market Segmentation by HVAC Type
