U.A.E. Chiller Market to 2024 - Inclination Toward Solar-Powered Absorption Chillers
DUBLIN, June 21, 2019 /PRNewswire/ -- The "U.A.E. Chiller Market by Type, by End-User, By Region - Market Size, Share, Development, Growth and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
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).
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 a growth in commercial infrastructure, tourism-related projects, and transportation sector; the estimated cost for these expansions is more than $9.0 billion.
Based on the chiller type, the U.A.E chiller market is categorized into a 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 the huge capital investment requirement, the chances of new players entering the HVAC market are quite a 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.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
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 Type
4.1.1.1 Screw
4.1.1.2 Centrifugal
4.1.1.3 Scroll
4.1.1.4 Absorption
4.1.1.5 Reciprocating
4.1.1.5.1 Direct-fired
4.1.1.5.2 Hot water
4.1.1.5.3 Steam
4.1.1.6 Air-cooled
4.1.1.7 Water-cooled
4.1.2 By End-User
4.1.2.1 Commercial
4.1.2.1.1 Hospitality
4.1.2.1.2 Transportation
4.1.2.1.3 Offices and buildings
4.1.2.1.4 Healthcare
4.1.2.1.5 Supermarket/Hypermarket
4.1.2.1.6 Government
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 Energy and Utilities
4.1.2.2.4 Pharmaceutical
4.1.2.2.5 Automotive
4.1.2.2.6 Others
4.1.2.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Preference toward district cooling system
4.3.1.2 Inclination toward solar-powered absorption chillers
4.3.2 Drivers
4.3.2.1 Increasing the hospitality sector in the country
4.3.2.2 Growing construction industry
4.3.2.3 Impact analysis of drivers on the market forecast
4.3.3 Restraints
4.3.3.1 Variable refrigerant flow (VRF) system as an alternative to the chiller
4.3.3.2 Impact analysis of restraints on the market forecast
4.3.4 Opportunities
4.3.4.1 Increasing infrastructural spending in the country
4.3.4.2 Demand for inverter-based chillers
4.4 Porter's Five Forces Analysis
Chapter 5. U.A.E. Market Size and Forecast
5.1 By Type
5.1.1 Screw Chiller, by Type
5.1.2 Scroll Chiller, by Type
5.1.3 Absorption Chiller, by Type
5.1.4 Reciprocating Chiller, by Type
5.2 By End-User
5.2.1 Commercial Chiller Market, by Type
5.2.2 Industrial Chiller Market, by Type
5.3 By Region
Chapter 6. Competitive Landscape
6.1 Competitive Analysis of Key Players
6.2 Competitive Benchmarking of Players
6.3 List of Key Players and their Offerings
6.4 Recent Activities of Major Players
6.5 Strategic Developments of Key Players
6.5.1 Product Launches
6.5.2 Client Wins
Chapter 7. Company Profiles
- DANA Group of Companies
- Gree Electric Appliances Inc. of Zhuhai
- Ingersoll-Rand plc
- Johnson Controls International plc
- LG Electronics Inc.
- Mitsubishi Electric Corporation
- S.K.M Air Conditioning LLC
- United Technologies Corporation
- Zamil Air Conditioners
For more information about this report visit https://www.researchandmarkets.com/r/xbvl94
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