Middle East and Africa (MEA) Heat Exchanger Market 2024
The Middle East and Africa (MEA) market size of heat exchanger increased gently from USD 975 million in 2020 to USD 1,100 million in 2023 at a Compound Annual Growth Rate (CAGR) of 4.1%. The heat exchanger market is anticipated to further increase to USD 1,350 million in 2029 at a CAGR of 4.3% from 2024 to 2029. In the MEA region, the oil and gas industry serves as the largest end-user for heat exchangers. However, the market experienced a downturn in 2023 due to a slump in the oil and gas industry, which had a negative impact. Despite this, MEA remains the largest market for centralized cooling systems in commercial and residential areas, which will drive the growth of the heat exchanger market in this region.
According to Tanalyze, the MEA cooling tower segment is expected to exhibit low growth in the coming years. It is projected to reach a market size of USD 333 million in 2029, with a CAGR of 2.1% from the indicated period.
Indeed, the Middle East region has a strong presence in the petrochemical industry, which is a significant driver of the demand for heat exchangers in the region. It is anticipated that the MEA petrochemical market will continue to grow rapidly, with a projected CAGR of 4.3% from 2024 to 2029. The market is expected to reach USD 299 million by 2029, representing a CAGR of 6.2% during this period. This growth in the petrochemical industry is expected to further drive the demand for heat exchangers in the region.
In terms of key players, some prominent companies operating in the MEA heat exchanger market include Alfa Laval AB, API Heat Transfer Inc., Danfoss A/S, Hamon Thermal Europe SA, Hisaka Works, Ltd., Kelvion Holding GmbH, SPX Flow, Inc., and several others. These companies play a vital role in catering to the growing demand for heat exchangers in the region.
This study aims to analyze the global market for various segments of heat exchanger, including:
Product Type: Cooling Tower, Air-Cooled, Shell & Tube, Gasketed Plate, and Others.
End-User: Oil & Gas, Petrochemical, Food & Beverage, Electricity Generation, HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration), and Others (Mineral, Water Treatment, Data Center, Shipbuilding, Pharmaceuticals, Paper, Engineering, etc.).
Region: Middle East and Africa.
- FIGURES AND TABLES
- Part 1. Key Findings
- Part 2. Scope and Methodology
- Report Scope
- Product Type
- End-User
- Region
- Research Methodology
- Part 3. Heat Exchanger Market Overview
- Summary
- Introduction
- Part 4. Market Dynamics
- Growth Drivers and Future Trends
- Restraints and Challenges
- Opportunities
- Pricing Forecast
- Part 5. MEA Heat Exchanger Market by Product Type
- Part 6. MEA Heat Exchanger Market by End-User
- Oil & Gas
- Petrochemical
- Food & Beverage
- Electricity Generation
- HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration)
- Others
- Part 7. MEA Heat Exchanger Market by Country
- Part 8. Competitive Analysis
- Competition Overview
- Alfa Laval AB
- Business Overview
- Heat Transfer
- Contact Information
- Danfoss A/S
- Business Overview
- Contact Information
- Hisaka Works, Ltd.
- Business Overview
- Contact Information
- Kelvion Holding GmbH
- Business Overview
- Contact Information
- SPX Flow, Inc.
- Business Overview
- Contact Information
- Other Companies
- Disclaimer
- FIGURES AND TABLES
- Middle East and Africa Heat Exchanger Market, Net Growth, 2020-2029 (USD Million)
- Middle East and Africa Heat Exchanger Market by Product Type, 2020-2029 (USD Million)
- Middle East and Africa Heat Exchanger Market by Product Type, CAGR Historic and Forecast, 2020-2029
- Middle East and Africa Heat Exchanger Market by End-User, 2020-2029 (USD Million)
- Middle East and Africa Heat Exchanger Market by End-User, CAGR Historic and Forecast, 2020-2029
- Middle East and Africa Heat Exchanger Market Share by Region, 2023
- Alfa Laval AB Financial Overview (SEK Million)
- Alfa Laval AB Revenue, by Segment, 2022
- Alfa Laval AB Revenue, by Product/Service, 2022
- Alfa Laval AB Revenue, by Region, 2022
- Alfa Laval AB Heat Transfer Revenue (SEK Million)
- Danfoss A/S Financial Overview (EUR Million)
- Danfoss A/S Revenue, by Segment, 2022
- Danfoss A/S Revenue, by Region, 2022
- Hisaka Works, Ltd. Financial Overview (JPY Million)
- Hisaka Works, Ltd. Revenue, by Segment, 2023
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