MENA HVAC Market to grow at a Significant Rate through 2026
Increasing demand for energy
efficient solutions and extreme weather conditions is expected to drive the demand
for MENA HVAC market in the forecast period.
According to TechSci Research report, “MENA
HVAC Market By Product Type (Direct Expansion Systems and Central Air
Conditioning Systems) By Direct Expansion Systems (Split, Window, Ductable
Split, VRF, Cassette and Others) By Central Air Conditioning Systems (Chillers,
Boilers, Cooling Towers, Air Handling Units, Fan Coil Units, HVAC Control
System and Others) By End-user (Commercial, Residential, Institutional, Marine
& Offshore, Oil & Gas, Power and Others), By Region, Company Forecast
& Opportunities, 2026”, The MENA HVAC market is expected to witness
significant growth in the forecast period. MENA region faces environmental and
socio-economic challenges such as an abundance of fossil fuels, harsh climatic
conditions, water scarcity, among others. The residential and commercial
buildings consume a lot of energy therefore they require constant air
conditioning owing to the presence of scorching heat and the use of glass
exteriors in buildings and homes. The high demand for VRF systems as they are
more economical, thereby, is gaining popularity in commercial spaces like
offices, stadiums, supermarkets/hypermarkets, amongst others.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several countries
adversely. Coronavirus-affected patients started suffering from shortness of
breath along with coughing and sneezing. Leading authorities of the MENA region
imposed lockdown restrictions and released a set of precautionary measures to
contain the spread of novel coronavirus. Ongoing construction activities and
the upcoming projects were temporarily suspended which negatively affected the
sales of the HVAC system in the MENA region. Manufacturing units were shut down
during this period and the workers moved back to their native places which
created a shortage of the workforce in the manufacturing units. Disruption in
the supply chain was observed due to restrictions on import and export
activities. Therefore, the COVID-19 pandemic had a negative effect on the
growth of the MENA HVAC market.
However, the shortage of skilled workforce and high
upfront cost may restrain the growth of the MENA HVAC market.
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MENA
HVAC market is segmented into product type, end-user, regional distribution,
and company. Based on the product type, the market can be bifurcated into direct
expansion systems and central air conditioning systems. The direct expansion
systems can be further divided into the split, window, ductable split, VRF,
cassette, and others and the central air conditioning systems can be divided
into chillers, boilers, cooling towers, air handling units, fan coil units,
HVAC control system, and others. The ductable split product type segment is
expected to dominate the HVAC market in the forecast period, 2022-2026. To
ensure the controlled distribution of the air in the manufacturing units and
data centers/server rooms, the packaged unit is combined with the duct to
provide proper ventilation and air distribution services. The presence of a
large number of high-rise buildings in UAE and Saudi Arabia is contributing to the
surge in the need to install ductable split HVAC units in the MENA region. On
the basis of country analysis, Saudi Arabia is expected to hold the major
market share in the next five years. The rise in the prices of crude oil prices
that is contributing significantly to the growth of the economy and the
flourishing tourism industry in Saudi Arabia majorly for religious purposes is
accelerating the need to install HVAC units to provide better hospitality
services to the tourists. Supportive government policies such as Saudi Vision
2030 and the construction of Neom city which is expected to run on clean energy
infrastructure are expected to create lucrative opportunities for the HVAC
market growth.
Johnson
Controls International PLC, Toshiba Carrier Corporation, United Technologies
Corporation, Daikin Industries Ltd., Ingersoll-Rand plc, Mitsubishi Electric
Corporation, LG Electronics Inc, Midea Group Co. Ltd, Gree Electric Appliances,
Inc. of Zhuhai, Danfoss A/S, Fujitsu Limited, Panasonic Corporation, Samsung
Electronics, Trane Technologies plc, Zamil Air Conditioners are the leading
players operating in MENA HVAC market. Manufacturers are increasingly focusing
on research and development process to fuel higher growth in the market. To
meet evolving customer demand with respect to better efficiency and durability,
several HVAC manufacturers are coming up with their technologically advanced
offerings.
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“The
growing construction of green buildings in the MENA region to achieve lower
development costs, improved indoor air quality, reduced maintenance, and
operating costs are fueling the development of smart urbanization in the next
five years. Green buildings ensure energy security, climatic change mitigation
and create a plethora of economic as well as employment opportunities for the
residents of the region. Green buildings are installing energy-efficient HVAC
systems to provide improved ventilation of air coupled with the high-end
investments by the market players for technological advancements to improve
efficiency and performance of the systems is expected to propel the HVAC market
growth till 2026” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“MENA HVAC Market By
Product Type (Direct Expansion Systems and Central Air Conditioning Systems) By
Direct Expansion Systems (Split, Window, Ductable Split, VRF, Cassette and
Others) By Central Air Conditioning Systems (Chillers, Boilers, Cooling Towers,
Air Handling Units, Fan Coil Units, HVAC Control System and Others) By End-user
(Commercial, Residential, Institutional, Marine & Offshore, Oil & Gas,
Power and Others), By Region, Company Forecast & Opportunities, 2026” has
evaluated the future growth potential of MENA HVAC market and provided
statistics & information on market size, shares, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the of MENA HVAC market.
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