Middle East and Africa (MEA) HVAC Markets, 2014-2024: In 2017, Johnson Controls International, United Technologies, and Ingersoll-Rand Held Over 50.0% Market Share
DUBLIN, June 27, 2019 /PRNewswire/ -- The "Middle East and Africa (MEA) HVAC Market (2014-2024)" report has been added to ResearchAndMarkets.com's offering.
The Middle East and Africa (MEA) HVAC market is projected to generate a revenue of $10.1 billion by 2024, as per this research.
The market is being driven by several factors, such as surging religious tourism, growing construction industry, and upcoming major events. Further, climate change is boosting the market growth year-over-year (YoY) in the Middle East as well.
On segmenting by HVAC type, the MEA HVAC market is categorized into ventilation, heating, and cooling. The cooling category is subdivided into chillers, split units, ducted split/packaged units, VRFs, and room air conditioners (RACs). Among these, the VRF category is expected to grow the fastest during the forecast period, as VRF systems are more economical and are becoming popular in commercial spaces, such as hypermarkets/supermarkets, offices, and stadiums.
In addition, the number of green buildings being constructed in the region is witnessing a positive YoY growth, which is driving the demand for VRF systems. The construction of green buildings, such as the King Abdullah Financial District in Saudi Arabia, are fueling the demand for high-efficiency VRF systems. VRF systems and single splits (ducted and ductless) together account for more than 50% of the total number of HVAC systems installed in commercial offices or buildings in the country.
Looking at the increase in temperature in the Middle East and sub-Saharan region, having a HVAC system is no longer considered a luxury, but a necessity. The change in climate has become a major driver for HVAC systems sales that were at their peak during the summer of 2017. That season, countries, including Kuwait, Iran, and Iraq, recorded the highest temperature of 54C! According to the Max Planck Institute for Chemistry, the summer temperature in the MEA region is slated to rise twice as fast as the global average. Therefore, the increasing temperature would offer lucrative opportunities to the players in the Middle East and Africa HVAC market.
Geographically, the African continent is divided into two by the Equator. Now, countries close to the Equator have a mean yearly temperature of around 32C with 40-50% humidity. The economic stability in countries, such as the Republic of Congo, Uganda, Kenya, Gabon and Nigeria, has led to a rise in the spending capacity of citizens. Therefore, the increasing income, and the hot and humid climate in the region are leading to the growth of the Middle East and Africa HVAC market.
Johnson Controls International plc, United Technologies Corporation, and Ingersoll-Rand plc together held over 50.0% share in the Middle East and Africa HVAC market in 2017. Apart from these, other companies are also increasingly introducing new products to maintain or establish their leadership. For example, Daikin Industries Ltd. announced the launch of its high-efficiency inverter screw chiller series with R-1234ze(E) refrigerant in December 2017.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by HVAC Type
1.3.2 Market Segmentation by End-User
1.3.3 Market Segmentation by Country
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.3.5.1 Value
1.3.5.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By country
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By HVAC Type
4.1.1.1 Heating
4.1.1.1.1 Furnaces
4.1.1.1.2 Heat Pumps
4.1.1.1.3 Boilers
4.1.1.1.4 Unitary Heaters
4.1.1.2 Ventilation
4.1.1.2.1 Humidifiers/Dehumidifiers
4.1.1.2.2 Air cleaners
4.1.1.2.3 Ventilation fans
4.1.1.2.4 Air handling units and fan coil units
4.1.1.3 Cooling
4.1.1.3.1 VRF
4.1.1.3.2 Ducted split/packaged unit
4.1.1.3.3 Split units
4.1.1.3.4 Chillers
4.1.1.3.5 Room ACs
4.1.2 By End-User
4.1.2.1 Commercial
4.1.2.1.1 Commercial Offices/Buildings
4.1.2.1.2 Supermarkets/Hypermarkets
4.1.2.1.3 Government
4.1.2.1.4 Healthcare
4.1.2.1.5 Hospitality
4.1.2.1.6 Transportation
4.1.2.1.7 Others
4.1.2.2 Industrial
4.1.2.2.1 Oil and Gas
4.1.2.2.2 Food and Beverage
4.1.2.2.3 Automotive
4.1.2.2.4 Energy and Utilities
4.1.2.2.5 Others
4.1.2.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Adoption of energy efficient HVAC systems
4.3.1.2 Adoption of low global warming potential (GWP) refrigerants
4.3.2 Drivers
4.3.2.1 Surging construction industry in GCC countries
4.3.2.2 Climate change driving the need for HVAC systems
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High upfront cost and trained personnel requirements
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Increasing deployment of VRF systems in high-rise buildings
4.4 Porter's Five Forces Analysis
Chapter 5. MEA Market Size and Forecast
5.1 By HVAC Type
5.1.1 Heating, by Equipment Type
5.1.2 Ventilation, by Equipment Type
5.1.3 Cooling, by Equipment Type
5.2 By End-User
5.2.1 Commercial, by Category
5.2.2 Industrial, by Category
5.2.3 By Residential
5.3 By Country
Chapter 6. Saudi Arabia Market Size and Forecast
Chapter 7. U.A.E. Market Size and Forecast
Chapter 8. Egypt Market Size and Forecast
Chapter 9. Israel Market Size and Forecast
Chapter 10. Nigeria Market Size and Forecast
Chapter 11. Oman and Bahrain Market Size and Forecast
Chapter 12. South Africa Market Size and Forecast
Chapter 13. Kuwait Market Size and Forecast
Chapter 14. Qatar Market Size and Forecast
Chapter 15. Rest of MEA Market Size and Forecast
Chapter 16. Competitive Landscape
16.1 Market Share Analysis of Key Players
16.2 Recent Activities of Key Players
16.3 Strategic Developments of Key Players
16.3.1 Mergers and Acquisitions
16.3.2 Partnerships
16.3.3 Product Launches
16.3.4 Facility Expansions
16.3.5 Client Wins
16.3.6 Other Developments
Chapter 17. Company Profiles
17.1 Johnson Controls International PLC
17.1.1 Business Overview
17.1.2 Product and Service Offerings
17.1.3 Key Financial Summary
17.2 Ingersoll-Rand PLC
17.3 United Technologies Corporation
17.4 Daikin Industries Ltd.
17.5 Mitsubishi Electric Corporation
17.6 Toshiba Carrier Corporation
17.7 LG Electronics Inc.
17.8 Fujitsu Limited
17.9 Midea Group Co. Ltd.
17.10 Gree Electric Appliances Inc. of Zhuhai
17.11 Danfoss A/S
For more information about this report visit https://www.researchandmarkets.com/r/pmtxfm
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