The U.A.E. chiller market is predicted to attain a size of $186.4 million by 2024, advancing at a CAGR of 5.9%

NEW YORK, Nov. 11, 2019 /PRNewswire/ --

U.A.E. Chiller Market by Type (Screw [Water-Cooled, Air-Cooled], Centrifugal, Scroll [Air-Cooled , Water-Cooled], Absorption [Direct-Fired, Hot Water, Steam], Reciprocating [Water-Cooled, Air-Cooled]), by End-User (Commercial [Hospitality, Transportation, Offices and Buildings, Healthcare, Supermarkets/Hypermarkets, Government], Industrial [Oil and Gas, Food and Beverage, Energy and Utilities, Pharmaceutical, Automotive], Residential), By Region (Dubai, Abu Dhabi & Al Ain, Sharjah & Other Northern Emirates) - Market Size, Share, Development, Growth and Demand Forecast, 2014-2024

Read the full report: https://www.reportlinker.com/p05782427/?utm_source=PRN

The U.A.E. chiller market is predicted to attain a size of $186.4 million by 2024, advancing at a CAGR of 5.9% during the forecast period (2019–2024), according to the report.

The major factors driving the progress of the U.A.E. chiller market include a surging need for district cooling and comprehensive growth in the construction sector. Apart from this, the increasing demand for inverter chillers is expected to offer significant opportunities to manufacturers during the forecast period.

During 2015–2017, the country recorded a fall in the sale of chillers owing to the drop in oil prices in 2014–2015, which resulted in the decline of the country's GDP, as oil contributes almost 30.0% to it. However, the diversification of its economy in recent years neutralized the oil price crisis to a notable extent. Further, the country is about to host World Expo 2020, which is anticipated to drive the construction industry. Event preparations are leading to an growth in commercial infrastructure, tourism-related projects, and transportation sector; the estimated cost for these expansions is more than $9.0 billion.

Based on chiller type, the U.A.E chiller market is categorized into scroll, centrifugal, screw, reciprocating, and absorption. Out of these, the absorption category is gaining the highest popularity across multiple industrial spaces, with customers specifically preferring solar-powered absorption chillers. The installation cost of conventional electricity-powered chillers is less than the solar type, but the long-term energy cost of the latter type of chillers is close to zero, which is a significant factor behind its growing adoption.

On the basis of end-user, the U.A.E. chiller market has been classified into industrial, commercial, and residential, among which the commercial classification is further divided into transportation, hospitality, supermarket/hypermarket, offices and buildings, healthcare, and government. Among these, the hospitality division is expected to observe massive growth in the demand for chillers during the forecast period.

Chillers are gaining traction in the hotel industry for cooling purposes. To host World Expo 2020, the country is investing heavily in hotel construction projects. In U.A.E., Dubai accounts for the largest number of hotel construction projects. Prominent hospitality companies, such as Hilton Hotels & Resorts, Marriott International, and Accor S.A., are preparing themselves for the forthcoming influx of tourists.
Due to huge capital investment requirement, the chances of new players entering the HVAC market are quite few. Last year, the majority of the top chiller manufacturers expanded their product portfolio by launching new products, in a bid to meet the growing consumer demand. Some of the key players in the U.A.E chiller market are Johnson Controls International plc, United Technologies Corporation, Ingersoll-Rand plc, Dana Group of Companies, Mitsubishi Electric Corporation, Daikin Industries Ltd., LG Electronics Inc., Zamil Air Conditioners, Gree Electric Appliances Inc. of Zhuhai, and S.K.M Air Conditioning LLC.

U.A.E Chiller Market Segmentation

Market Segmentation by Chiller Type
• Screw

- Water-Cooled
- Air-Cooled

• Scroll

- Water-Cooled
- Air-Cooled

• Absorption

- Steam
- Hot Water
- Direct-Fired

• Centrifugal

• Reciprocating

- Water-Cooled
- Air-Cooled

Market Segmentation by End-User
• Commercial

- Transportation
- Hospitality
- Healthcare
- Supermarket/Hypermarket
- Offices and buildings
- Government
- Others

• Industrial

- Chemical
- Food and Beverage
- Pharmaceutical
- Automotive
- Energy and Utilities
- Oil and Gas
- Others

• Residential

Market Segmentation by Region
• Dubai
• Abu Dhabi & Al Ain
• Sharjah & Other Northern Emirates

Read the full report: https://www.reportlinker.com/p05782427/?utm_source=PRN

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