Middle East & Africa Chillers Market Forecast to 2030 - Regional Analysis - by Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, an

Middle East & Africa Chillers Market Forecast to 2030 - Regional Analysis - by Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, and Reverse Cycle Chillers), and Application (Commercial, Industrial, and Residential)

The Middle East & Africa chillers market is expected to grow from US$ 361.99 million in 2022 to US$ 444.84 million by 2030. It is estimated to register a CAGR of 2.6% from 2022 to 2030.

Rising Demand from Various Industries Fuels Middle East & Africa Chillers Market

HVAC chillers play a crucial role in maintaining the required temperature of any space, machinery, or equipment. HVAC chillers remove the heat and transfer it somewhere else. These chillers can be utilized in numerous residential spaces, for example small to large size rooms, garages, basements, and crawlspaces. Popularity of HVAC chillers is increasing owing to various advantages such a portability, convenience, and quick and easy maintenance. Moreover, the adoption of HVAC chillers is rising in restaurants, hotels, kitchens, and dining rooms to handle the concerns regarding temperature levels. Other industry verticals where these chillers are used are rubber, petrochemicals, medical, plastic, commercial office buildings, sports venues, and others. Growing aviation sector and increasing count of new commercial construction buildings drives the demand for respective chillers. Thus, demand for respective chillers is also expected to increase. Screw chillers are vapor compressor chillers that make use of a screw compressor for transporting the coolant through the system. These chillers are suitable for high rise buildings considering quiet operation, compact installation, high energy efficiency and lower maintenance costs. With growing real estate sector all over the world, requirement for screw chillers is forecasted to increase remarkably.

Middle East & Africa Chillers Market Overview

Saudi Arabia, South Africa, and the UAE are among the major contributors to the 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 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 Chiller market growth in the coming years. The Vision 2021 of the UAE government opened new avenues for the 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 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 Chillers market. Recently, the Iraq-based team of Trane completed a centrifugal chiller overhauling and commissioning project at the Central Children's Hospital in Iraq; the company also supplied eight chillers with total capacity 2,500 RT for the new Kirkuk governorate building.

Middle East & Africa Chillers Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Chillers Market Segmentation

The Middle East & Africa chillers market is segmented into technology, type, application, and country.

Based on technology, the Middle East & Africa chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held the largest share of the Middle East & Africa chillers market in 2022.

In terms of type, the Middle East & Africa chillers market is segmented into process chillers, scroll chillers, screw chillers, centrifugal chillers, absorption chillers, modular chillers, and reverse cycle chillers. The screw chillers segment held the largest share of the Middle East & Africa chillers market in 2022.

Based on application, the Europe chillers market is segmented into industrial, commercial, and residential. The industrial segment held the largest share of the Europe chillers market in 2022.

Based on country, the Middle East & Africa chillers market is segmented into South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa chillers market in 2022.

Africa LG Electronics Inc, Mitsubishi Electric Corp, Carrier Global Corp, Daikin Industries Ltd, Thermal Care, Inc, Trane Inc, Kaltra, SKM Air Conditioning, and Airedale International Air Conditioning Ltd are some of the leading companies operating in the Middle East & Africa chillers market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa chillers market.
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 Middle East & Africa 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 Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.

Please Note: It will take 3-5 business days to complete the report upon order confirmation for delivery of the full report and excel data pack for on demand reports.