Middle 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)
Market Introduction
Saudi Arabia, South Africa, and the UAE are among the major contributors to the HVAC chillers market in the Middle East & Africa. Saudi Arabia, Iraq, the UAE, Iran, and Kuwait are the top 5 revenue economies in the region. The proliferation of the construction industry, with a prime focus on hotels and restaurants, is a major factor driving the HVAC chillers market growth in the Middle East & Africa. Extreme weather conditions, increasing population, growth in infrastructure/urban development projects, and escalating food industry operations are other key factors encouraging the global as well regional players to invest in the HVAC business in the Middle East and Africa. Moreover, strict government regulations, encouraging the adoption of energy-efficient systems, is likely to support the HVAC chiller market growth in the coming years. The Vision 2021 of the UAE government opened new avenues for the HVAC chillers market to introduce energy efficient systems consuming less energy. The adoption of energy-efficient systems is very crucial to curb the levels of CO2 emissions and reduce the impact of global warming. In 2017, Saudi Arabia’s custom team seized 759,000 products for violating the standards of Saudi Energy Efficiency Center. Such strict government regulations promote the adoption of energy-efficient HVAC chiller in MEA. The Leadership in Energy & Environmental Design (LEED) certification, Arab Energy Efficiency Building Regulations, and GCC Standardization Council (GSO) are among the major HVAC-related regulations in the MEA. The HVAC chiller market in the region is also expected to grow with the flourishment of industrial, commercial, and construction sectors. The increasing research and development activities of major players, and rising construction of green building projects, such as King Abdullah Financial District (KAFD) in Saudi Arabia, which is a new financial hub in the country, are providing additional push to the 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.
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Market Overview and Dynamics
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. Rise in the count of data centers is anticipated to drive the growth of HVAC chillers market in near future all over the region. Data centers need a lot of energy and the main driver of data center design engineers’ work is to offer reliable, energy-efficient, and cost-effective HVAC systems. The newest commercial chiller equipment provides proven reliability, competitive energy performance and integral controls in a modular package without the requirement for water. Efficiency is a crucial factor while selecting the chiller for the data center. So, when it comes to finalizing the chiller for this application, the selection of a unit having the right compressor is a primary task. In data centers, free cooling doesn’t always need an extremely cold climate. Whenever the outdoor temperature is sufficient cold, these chillers turn off the compressors and take advantage of the favorable outdoor temperature. Now-a-days, many companies are outsourcing their data operations to the third-party providers which have got expertise in data center operations. Colocation data centers are particularly famous because they offer power, physical space, and cooling systems for local communication systems. So, increasing no. of data centers is expected to fuel the demand of HVAC chillers, thereby driving the MEA HVAC chillers market.
Key Market Segments
In terms of technology, the air-cooled segment accounted for the largest share of the MEA HVAC chillers market in 2020. In terms of type, the screw chillers segment held a larger market share of the MEA HVAC chillers market in 2020. Further, the industrial segment held a larger share of the MEA HVAC chillers market based on application in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the MEA HVAC chillers market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AIREDALE INTERNATIONAL AIR CONDITIONING LTD.; Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Johnson Controls, Inc.; Kaltra; LG Electronics; Mitsubishi Electric Corporation; SKM Air Conditioning; and Trane.
Reasons to buy report
- To understand the MEA HVAC chillers market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA HVAC chillers market
- Efficiently plan M&A and partnership deals in MEA HVAC chillers market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA HVAC chillers market
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.
MEA HVAC Chillers Market Segmentation
MEA HVAC Chillers Market - By Technology
MEA HVAC Chillers Market - By Type
MEA HVAC Chillers Market - By Application
- Industrial
- Commercial
- Residential
MEA HVAC Chillers Market - By Country
MEA HVAC Chillers Market - Company Profiles
- AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
- Carrier Global Corporation
- DAIKIN INDUSTRIES, Ltd.
- Johnson Controls, Inc.
- Kaltra
- LG Electronics
- Mitsubishi Electric Corporation
- SKM Air Conditioning
- Trane
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA HVAC Chillers Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA HVAC Chillers Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Demand for HVAC Chillers from Several Industries
5.1.2 Surging Number of Data Centers
5.2 Market Restraints
5.2.1 Less Efficiency in Humid Environment and High Maintenance Cost
5.3 Market Opportunities
5.3.1 Surging Economic Growth in Developing Countries of the Region
5.4 Future Trends
5.4.1 Growing Development of IoT Enabled HVAC Chillers
5.5 Impact Analysis of Drivers and Restraints
6. HVAC Chillers Market MEA Analysis
6.1 MEA HVAC Chillers Market Overview
6.2 MEA HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7. MEA HVAC Chillers Market Analysis By Technology
7.1 Overview
7.2 MEA HVAC Chillers Market Breakdown, By Technology (2020 and 2028)
7.3 Air-Cooled
7.3.1 Overview
7.3.2 Air-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7.4 Water-Cooled
7.4.1 Overview
7.4.2 Water-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7.5 Steam-Fired
7.5.1 Overview
7.5.2 Steam-Fired: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8. MEA HVAC Chillers Market Analysis By Type
8.1 Overview
8.2 MEA HVAC Chillers Market Breakdown, By Type (2020 and 2028)
8.3 Process Chillers
8.3.1 Overview
8.3.2 Process Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.4 Scroll Chillers
8.4.1 Overview
8.4.2 Scroll Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.5 Screw Chillers
8.5.1 Overview
8.5.2 Screw Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.6 Centrifugal Chillers
8.6.1 Overview
8.6.2 Centrifugal Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.7 Absorption Chillers
8.7.1 Overview
8.7.2 Absorption Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9. MEA HVAC Chillers Market Analysis By Application
9.1 Overview
9.2 MEA HVAC Chillers Market Breakdown, By Application (2020 and 2028)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9.5 Residential
9.5.1 Overview
9.5.2 Residential: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10. MEA HVAC Chillers Market Country Analysis
10.1 Overview
10.1.1 MEA: HVAC Chillers Market- by Key Country
10.1.1.1 South Africa: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: HVAC Chillers Market- by Technology
10.1.1.1.2 South Africa: HVAC Chillers Market- By Type
10.1.1.1.3 South Africa: HVAC Chillers Market- By Application
10.1.1.2 UAE: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 UAE: HVAC Chillers Market- by Technology
10.1.1.2.2 UAE: HVAC Chillers Market- By Type
10.1.1.2.3 UAE: HVAC Chillers Market- By Application
10.1.1.3 Saudi Arabia: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Saudi Arabia: HVAC Chillers Market- by Technology
10.1.1.3.2 Saudi Arabia: HVAC Chillers Market- By Type
10.1.1.3.3 Saudi Arabia: HVAC Chillers Market- By Application
10.1.1.4 Rest of MEA: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Rest of MEA: HVAC Chillers Market- by Technology
10.1.1.4.2 Rest of MEA: HVAC Chillers Market- By Type
10.1.1.4.3 Rest of MEA: HVAC Chillers Market- By Application
11. Impact of COVID-19 Pandemic on MEA HVAC Chillers Market
11.1 MEA: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 New Development
13. Company Profiles
13.1 LG Electronics
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mitsubishi Electric Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Carrier Global Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 DAIKIN INDUSTRIES, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Trane
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Kaltra
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SKM Air Conditioning
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Johnson Controls, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. MEA HVAC Chillers Market Revenue, and Forecast to 2028 (US$ Million)
Table 2. South Africa: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 5. UAE: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 6. UAE: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 7. UAE: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 9. Saudi Arabia: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 10. Saudi Arabia: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of MEA: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of MEA: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of MEA: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA HVAC Chillers Market Segmentation
Figure 2. MEA HVAC Chillers Market Segmentation By Country
Figure 3. MEA HVAC Chillers Market Overview
Figure 4. Air-Cooled HVAC Chillers Segment Held the Largest Market Share in 2020
Figure 5. Screw Chillers Segment Held the Largest Market Share in 2020
Figure 6. Industrial Segment Held the Largest Market Share in 2020
Figure 7. The UAE was the Largest Revenue Contributor in 2020
Figure 8. MEA PEST Analysis
Figure 9. MEA HVAC Chillers Market Ecosystem Analysis
Figure 10. Expert Opinions
Figure 11. MEA HVAC Chillers Market: Impact Analysis of Drivers and Restraints
Figure 12. MEA HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. MEA HVAC Chillers Market Breakdown, By Technology (2020 and 2028)
Figure 14. MEA Air-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. MEA Water-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Steam-Fired: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. MEA HVAC Chillers Market Breakdown, By Type (2020 and 2028)
Figure 18. MEA Process Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. MEA Scroll Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Screw Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. MEA Centrifugal Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. MEA Absorption Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA HVAC Chillers Market Breakdown, By Application (2020 and 2028)
Figure 24. MEA Industrial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. MEA Commercial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. MEA Residential: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. MEA: HVAC Chillers Market Revenue Overview, by Country (2020) (US$ Mn)
Figure 28. MEA: HVAC Chillers Market Revenue Share, By Key Country (2020 and 2028)
Figure 29. South Africa: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. UAE: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 31. Saudi Arabia: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of MEA: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in MEA Country Markets
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
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the MEA HVAC chillers market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the HVAC chillers market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution