U.A.E. Chiller Market To Generate Revenue Worth USD 191.5 Million by 2030

The U.A.E. chiller market is projected to register a CAGR of 6% during 2024–2030, to reach USD 191.5 million by 2030. This can be ascribed to the surging requirement for district cooling, the high growth in the end-use industries, such as construction and hospitality, the increasing demand for inverter chillers, and the rising number of events in the country.

For instance, the country organized the World Expo, which helped drive the construction sector. The event revealed the rise in investments in projects affiliated with tourism, commercial infrastructure, and transportation. Also, forthcoming infrastructural projects in the U.A.E. are projected to offer several opportunities to players operating in this market. Thus, these factors drive the demand for chillers in the U.A.E.

Highest Popularity Gained by Absorption Chillers

Across numerous industrial spaces, absorption chillers are obtaining enormous popularity, as customers are highly preferring solar-powered absorption chillers. However, the cost of installation of conventional chillers powered by electricity is less than the solar-type, but in the long term, the cost of energy of chillers of the latter type is very low, which is a remarkable component behind their growing adoption.

Enormous Growth Is Observed in the Hospitality Category

Based on commercial end user, the hospitality category is forecasted to register immense growth during the expected duration. This can be because chillers are being highly adopted for the purpose of cooling in the hotel industry, this industry is growing significantly, and the presence of major hotel chains in the country, such as Marriott International, Hilton Hotels & Resorts, and Accor S.A. Also, these companies are included in several hotel construction projects that are gearing up for the forthcoming tourists. Thus, the hospitality sector generates a high demand for chillers in the U.A.E.

Abu Dhabi Market To Witness Significant Growth

Based on region, the market in Abu Dhabi is expected to witness significant growth in the coming years. This can be ascribed to the growing hotel industry in the region. Moreover, the government is focusing on sifting from the oil and gas sector to other sectors, such as hospitality and construction. For this, it planned Abu Dhabi 2030, with the aim to attract millions of tourists annually. Subsequently, the aim of the government is to expand office and retail spaces to 7.5 million square meters and 4 million square meters, respectively, by 2030. Hence, these factors drive the need for chillers in Abu Dhabi.

Some of the major players operating in the U.A.E. chiller market include Johnson Controls International, Ingersoll-Rand plc, United Technologies Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Gree Electric Appliances Inc. of Zhuhai, Zamil Air Conditioners, DANA Group of Companies, and S.K.M Air Conditioning LLC.