Report : Middle East & Africa HVAC Controls Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component Type (Sensors, Controllers, Smart Vents, and Others), Installation Type (New Installation and Retrofit), System (Temperature Control System, Humidity Control System, Ventilation Control System, and Integrated Control System), and End User (Residential, Commercial, and Industrial)
At 16.7% CAGR, the Middle East & Africa HVAC Controls Market is speculated to be worth US$ 2,285.42 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA HVAC controls market was valued at US$ 904.80 million in 2022 and is expected to reach US$ 2,285.42 million by 2028, registering an annual growth rate of 16.7% from 2022 to 2028. Expansion in construction sector and performance of smart, connected, and energy efficient IOT-enabled HVAC systems.
Geothermal systems and smart thermostats have incorporated new green technologies that are fundamentally altering the HVAC sector. A green approach to real estate development has become crucial for HVAC professionals and property owners. As a result, many HVAC experts and customers have expressed an interest in purchasing energy-efficient systems to provide future cost savings that will be more significant. The growth of HVAC systems with alternate heating fuel use, such as electricity and hydrogen, is projected to result from the surge in demand for green labelled items due to increased consumer environmental awareness. Manufacturers such as Daikin and Carrier are constantly working to offer cleaner solutions to satisfy the needs of environmentally conscious consumers. For instance, Carriers' Hybrid Heat System combines smart infinity control technology with a heat source, and the heat pump can switch between affordable energy sources according to the weather outside. Governments have begun to support eco-initiatives and advance eco-friendly HVAC systems. For instance, the NYC Carbon Challenge aims to reduce greenhouse gas emissions by at least 25% over the following ten years among commercial tenants, business owners, and private and nonprofit organizations. There will always be resources and support available under this voluntary initiative to assist participants in implementing additional possibilities for improvement. Green solutions are available for heating and cooling, and sustainability programs. The ultimate objective is to reduce emissions over the NYC by 85% by 2050. Thus, advancements in green technology will boost the demand for HVAC controls. This is expected to drive the market during the forecast period.
On the contrary, inadequacy of awareness among end-users leads to low HVAC controls adoption hurdles the growth of MEA HVAC controls market.
- Based on component type, the MEA HVAC controls market is divided into sensors, controllers, smart vents, and others. The sensors HVAC controls segment held 34.9% market share in 2022, amassing US$ 315.53 million. It is projected to garner US$ 1,177.44 million by 2028 to expand at 24.5% CAGR during 2022–2028.
- Based on installation type, the MEA HVAC controls market is categorized into new installation and retrofit. The retrofit segment held 51.3% market share in 2022, amassing US$ 464.60 million. It is projected to garner US$ 1,391.01 million by 2028 to expand at 20.1% CAGR during 2022–2028.
- Based on system, the MEA HVAC controls market is categorized into temperature control system, humidity control system, ventilation control system, and integrated control system. The humidity control system segment held 35.3% market share in 2022, amassing US$ 319.04 million. It is projected to garner US$ 565.97 million by 2028 to expand at 10.0% CAGR during 2022–2028.
- Based on end user, the MEA HVAC controls market is categorized into residential, commercial, and industrial. The commercial segment held 42.0% market share in 2022, amassing US$ 379.91 million. It is projected to garner US$ 612.64 million by 2028 to expand at 8.3% CAGR during 2022–2028
- Based on country, the MEA HVAC controls market has been categorized into the Saudi Arabia, South Africa, UAE, and Rest of MEA. Our regional analysis states that UAE captured 42.6% market share in 2022. It was assessed at US$ 385.82 million in 2022 and is likely to hit US$ 1,358.68 million by 2028, exhibiting a CAGR of 23.3% during the forecast period.
Key players dominating the MEA HVAC controls market are Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Delta Controls; Distech Control; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc. among others.
- In June 2022, Schneider Electric and Panasonic partner to make the future of residential heating smart and sustainable.
- In June 2022, Liechtenstein chooses sustainable and future-proof Siemens power distribution.
Contact Person: Sameer Joshi