The Middle East and Africa HVAC Market To Generate Revenue Worth $13,267.7 Million by 2030

The Middle East and Africa (MEA) HVAC market is expected to generate revenue of USD 13,267.7 million by 2030, registering a CAGR of 5.1% during the forecast period (2024–2030).

The growth of the market can be presented by the note-worthy investment in the construction of commercial buildings, infrastructure, and government projects such as railway stations, airports, bus terminals, and education institutions. In addition, the installation of HVAC systems is gaining momentum, due to the rapid development of the commercial sector and the significant change in the climate in the region.

• For instance, the Hayy Al Sahil Project, which is valued at USD 1,000 million, will cover a 4-star hotel with 220 rooms, residential and commercial areas with greenhouses, event halls, a bicycle route, a variety of eateries, and an aerobic park.
• Another division of the project will necessitate the construction of 1,600 dwelling units over an area of 221,000 sqm, with an enormous mosque in around 10,000 sqm, and a 3-star hotel with 150 rooms spread across 50,000 sqm. The final stages of the development will feature 3,000 villas, flats, and premium waterfront villas.

In addition, major market players have been involved in introducing advanced products to gain a key position in the industry. For instance, Daikin Industries Ltd. initiated optional equipment tools for productive inverter screw chiller; series with refrigerant R-1234ze(E). The water-cooled chiller range is available from 340 kW to 1600 kW of cooling capacity, the chiller range (TZ series) is available from 130 kW to 830 kW cooling capacity, and the water-cooled chiller range is available from 340 kW to 1600 kW cooling capacity.

VRF Systems Are Gaining Popularity

On the basis of HVAC type, the Middle East and Africa HVAC market is categorized into heating, cooling, and ventilation, wherein the cooling category is further classified into VRF, split unit, ducted split/packaged unit, room air conditioners (RACs), and chillers. Of these, during the forecast period, the VRF category is projected to witness the fastest growth.

• VRF systems are termed as more economical in terms of energy cost and are gaining popularity in commercial space, predominantly commercial offices, hypermarkets/supermarkets, and stadiums. Additionally, the number of green buildings constructed in the region is registering positive Y-o-Y growth, which is driving the demand for VRF systems in the region.

Some of the key players operating in the Middle East and Africa HVAC market are Johnson Controls International PLC, Ingersoll Rand Inc., United Technologies Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, Toshiba Carrier Group, LG Corporation, Fujitsu Limited, Midea Group, Gree Electric Appliances Inc. of Zhuhai, and Danfoss A/S.