Report Code: 11606 | Available Format: PDF | Pages: 210
The Middle East and Africa (MEA) HVAC market size stood at USD 9,445.5 million in 2023, and it is expected to reach USD 13,267.7 million by 2030, exhibiting a CAGR of 5.1% during the forecast period (2024–2030). This is due to an increase in the adoption of split units, due to their effortless attachments and towering energy efficient properties.
In addition, the market is showing significant growth potential. This is because global players are establishing manufacturing centers in the region by forming partnerships with local manufacturers and expanding their distribution networks across various MEA countries.
Furthermore, factors driving this expansion include extreme weather conditions, population growth, infrastructure and urban development projects, and heightened healthcare concerns. These factors are also compelling both global and regional players to invest in the HVAC business in the MEA region.
The Middle East and Africa HVAC market is witnessing a growth in demand for VRF systems in high-rise buildings, owing to the flexibility and lower utility cost benefits it offers. With multiple tenants, an inefficiently designed HVAC system may result in poor air quality, and inconsistent airflow, resulting in high maintenance costs. VRF systems offer healthy air, personalized control, and installation flexibility, and eliminate the need for water piping. Additionally, it provides solutions to the complex installation of ducted split systems in high-rise buildings, where a single outdoor unit is deployed with multiple indoor units forming an efficient ductless multi-split system.
Report Attribute | Details |
Market Size in 2023 |
USD 9,445.5 Million |
Market Size in 2024 |
USD 9,836.4 Million |
Revenue Forecast in 2030 |
USD 13,267.7 Million |
Growth Rate |
5.1% CAGR |
Historical Years |
2017-2023 |
Forecast Years |
2024-2030 |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By HAVC Type; By End User; By Country |
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Based on HVAC type, the Middle East and Africa HVAC market has been categorized as heating, ventilation, and cooling, wherein the cooling category accounts for the largest revenue share. Moreover, ducted split/packaged contributed the largest market share in the cooling category.
In addition, the presence of numerous high-rise buildings in countries such as Saudi Arabia and the U.A.E. has been a major contributor to the large-scale adoption of ducted split/packaged units in the region.
Besides this, the efficient functioning of packaged units, where these are combined with ducts for controlled distribution of air, is one of the prime factors for their mass-scale adoption in manufacturing facilities and data centers/server rooms.
Based on end user, the commercial category is dominating the Middle East and Africa HVAC market, and it is also expected to witness the fastest growth in the coming years.
Saudi Arabia dominates the MEA HVAC market, holding the largest revenue share of 25%. This is because the Saudi government has implemented energy efficiency regulations and shown a preference for environmentally friendly refrigerants, and green energy, which, in turn, drives the demand for HVAC systems that use eco-friendly refrigerants to enhance energy efficiency.
Moreover, the surging investment in green energy is also driving the market. For instance, ACWA Power is constructing a green hydrogen plant, which is evaluated at USD 8,400 million. The green hydrogen-based ammonia production facility will be built in the northwest region of Saudi Arabia, where NEOM is building an innovation hub and a smart city. The plant will be integrating with over 4 GW of renewable energy generated from solar and wind and will operate from 2025.
The study uncovers the biggest trends and opportunities in the MEA HVAC market, along with offering segmentation analysis at the granular level for the period 2017 to 2030.
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