MEA Chiller Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

The Middle East and Africa (MEA) chiller market is projected to generate approximately $1,431.6 million in revenue in 2024, with expectations to reach $1,959.9 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2024 to 2030. This growth is primarily driven by rapid industrial development, an increasing number of data centers, economic expansion, and the growing tourism and healthcare sectors in the region. Factors such as rising population, climatic conditions, regional economic regulations, and environmental concerns are also contributing to the market's expansion. Technological advancements, particularly in sensor and artificial intelligence (AI) technologies aimed at enhancing energy efficiency, are further propelling the demand for chillers in the MEA region.

Key Insights

The MEA chiller market is segmented by chiller type into screw, scroll, absorption, centrifugal, and reciprocating chillers. Among these, the commercial sector is the largest end-user category, encompassing hospitality, offices and buildings, supermarkets/hypermarkets, healthcare, government, and other commercial establishments. The industrial sector, including oil and gas, food and beverage, energy and utilities, pharmaceutical, automotive, and other industries, is expected to be the fastest-growing category during the forecast period.

Geographically, Saudi Arabia dominates the MEA chiller market, with projected revenues of $364.4 million in 2024. The country is also expected to experience the highest CAGR of 6.2% during the forecast period, driven by substantial investments in residential, industrial, and commercial infrastructure, including giga projects such as NEOM and the Red Sea project. These developments necessitate innovative HVAC systems to address the extreme desert climate, thereby increasing the demand for chillers. In the United Arab Emirates (U.A.E.), the market is growing due to strict building efficiency compliance and the implementation of green building technologies, particularly in cities like Dubai and Abu Dhabi. International events, such as Expo 2020, have also necessitated the installation of advanced cooling solutions. In Qatar, economic expansion and a booming construction industry, especially following the 2022 FIFA World Cup, have significantly influenced the demand for chillers, with high living standards and the desert climate driving the need for innovative cooling technologies in sports facilities and premium housing and office units.

Technological advancements are a key trend in the MEA chiller market, with the integration of Internet of Things (IoT) and AI technologies enabling continuous monitoring and optimization of chiller performance. These innovations contribute to energy efficiency and predictive maintenance, reducing operational costs and enhancing system reliability. The development of eco-friendly refrigerants and energy-efficient chiller systems is also gaining traction, aligning with global environmental regulations and sustainability goals.

The market is characterized by fragmentation, with several key players contributing to the competitive landscape. Major companies include GAMI Air Conditioners Manufacturing Company L.L.C., Midea Group Co. Ltd., Mitsubishi Electric Corporation, Zamil Air Conditioners, Petra Engineering Industries Co., S.K.M Air Conditioning LLC, Daikin Industries Ltd., United Technologies Corporation, Ingersoll-Rand plc, and Johnson Controls International Plc. These companies are focusing on technological innovations, strategic partnerships, and expanding their product portfolios to strengthen their market positions. The increasing demand for energy-efficient and environmentally friendly chiller systems presents significant opportunities for market participants to innovate and cater to the evolving needs of various end-user industries in the MEA region.

Product Code: 11675

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit

1.4.1 Value

1.5 Market Size Breakdown by Segment

1.5.1 Market Segmentation by Component

1.5.2 Market Segmentation by End User

1.5.3 Market Segmentation by Country

1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.1.1 Paid

2.1.2 Unpaid

2.1.3 P&S Intelligence Database

2.2 Primary Research

2.2.1 Breakdown of Primary Research, by Industry Participant

2.2.2 Breakdown of Primary Research, by Designation

2.2.3 Breakdown of Primary Research, by Company Type

2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

4.1 List of Major Ongoing Projects

4.1.1 Saudi Arabia

4.1.2 Egypt

4.1.3 South Africa

4.1.4 Qatar

4.1.5 Oman

4.1.6 Kuwait

4.1.7 Bahrain

4.1.8 U.A.E.

4.2 GDP Growth

4.2.1 Egypt

4.2.2 Bahrain

4.2.3 U.A.E.

4.2.4 Kuwait

4.2.5 Qatar

4.2.6 Saudi Arabia

4.2.7 South Africa

4.2.8 Oman

4.3 Rising Construction Activities

Chapter 5. Industry Outlook

5.1 Market Dynamics

5.1.1 Trends

5.1.1.1 Development of IoT-enabled HVAC chillers in MEA and Egypt
5.1.1.2 HVAC industry offers cooling as a service (CaaS)

5.1.2 Drivers

5.1.2.1 Industrial expansion in the MEA region
5.1.2.2 Increasing number of data centers
5.1.2.3 Increasing focus on tourism and healthcare
5.1.2.4 Impact analysis of drivers on market forecast

5.1.3 Restraints

5.1.3.1 Regulatory and environmental concerns
5.1.3.2 Economic volatility
5.1.3.3 Impact analysis of restraints on market forecast

5.2 Impact of COVID-19
5.3 Porter's Five Forces Analysis

5.3.1 Threat of New Entrants (Moderate Impact)

5.3.2 Bargaining Power of Suppliers (Moderate Impact)

5.3.3 Bargaining Power of Buyers (High Impact)

5.3.4 Threat of Substitute Products (Low Impact)

5.3.5 Industry Rivalry (High Impact)

5.3.6 Overall Impact

Chapter 6. MEA Market Size and Forecast

6.1 Overview
6.2 Market Revenue, by Component

6.2.1 Screw Chiller Market Revenue, by Type

6.2.2 Scroll Chiller Market Revenue, by Type

6.2.3 Reciprocating Chiller Market Revenue, by Type

6.2.4 Absorption Chiller Market Revenue, by Type

6.3 Market Revenue, by End User

6.3.1 Commercial Chiller Market Revenue, by Application

6.3.2 Industrial Chiller Market Revenue, by Application

6.4 Market Revenue, by Country

Chapter 7. Egypt Market Size and Forecast

7.1 Overview
7.2 Market Revenue, by Component

7.2.1 Screw Chiller Market Revenue, by Type

7.2.2 Scroll Chiller Market Revenue, by Type

7.2.3 Reciprocating Chiller Market Revenue, by Type

7.2.4 Absorption Chiller Market Revenue, by Type

7.3 Market Revenue, by End User

7.3.1 Commercial Chiller Market Revenue, by Application

7.3.2 Industrial Chiller Market Revenue, by Application

Chapter 8. Competitive Landscape

8.1 List of Market Players and Their Distributors
8.2 List of Market Players and Their Offerings
8.3 Strategic Developments in the Market

8.3.1 Partnerships and Collaborations

8.3.2 Product Launches

8.3.3 Facility Expansion

8.3.4 Other Developments

Chapter 9. Company Profiles

9.1 Carrier Global Corporation

9.1.1 Business Overview

9.1.2 Product and Service Offerings

9.1.3 Key Financial Summary

9.2 Daikin Middle East and Africa FZE

9.2.1 Business Overview

9.2.2 Product and Service Offerings

9.2.3 Key Financial Summary

9.3 Mitsubishi Electric Corporation

9.3.1 Business Overview

9.3.2 Product and Service Offerings

9.4 Panasonic Marketing Middle East & Africa FZE

9.4.1 Business Overview

9.4.2 Product and Service Offerings

9.5 LG Electronics Inc.

9.5.1 Business Overview

9.5.2 Product and Service Offerings

9.5.3 Key Financial Summary

9.6 Blue Star International FZCO

9.6.1 Business Overview

9.6.2 Product and Service Offerings

9.7 Zamil Air Conditioners Holding Company Ltd.

9.7.1 Business Overview

9.7.2 Product and Service Offerings

9.7.3 Key Financial Summary

9.8 Hisense Middle East

9.8.1 Business Overview

9.8.2 Product and Service Offerings

9.9 Johnson Controls International PLC

9.9.1 Business Overview

9.9.2 Product and Service Offerings

9.10 Petra Engineering Industries Co.

9.10.1 Business Overview

9.10.2 Product and Service Offerings

9.11 S.K.M Air Conditioning LLC

9.11.1 Business Overview

9.11.2 Product and Service Offerings

9.12 GAMI Air Conditioners Manufacturing Company L.L.C.

9.12.1 Business Overview

9.12.2 Product and Service Offerings

9.13 Midea Group Co. Ltd.

9.13.1 Business Overview

9.13.2 Product and Service Offerings

9.14 Gree Electric Appliances Inc. of Zhuhai

9.14.1 Business Overview

9.14.2 Product and Service Offerings

9.15 Trane Technologies plc

9.15.1 Business Overview

9.15.2 Product and Service Offerings

9.16 Samsung Electronics Co. Ltd.

9.16.1 Business Overview

9.16.2 Product and Service Offerings

Chapter 10. Appendix

10.1 Sources and References
10.2 Related Reports

Product Code: 11675

List of Tables

TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 List of key major projects in Saudi Arabia
TABLE 3 List of key major projects in Egypt
TABLE 4 List of key major projects in South Africa
TABLE 5 List of key major projects in Qatar
TABLE 6 List of key major projects in Oman
TABLE 7 List of key major projects in Kuwait
TABLE 8 List of key major projects in Bahrain
TABLE 9 List of key major projects in U.A.E.
TABLE 10 Drivers for The Market: Impact Analysis
TABLE 11 restraints for The Market: Impact Analysis
TABLE 12 MEA Chiller Market, BY Component, $M (2019-2024)
TABLE 13 MEA Chiller Market, BY Component, $M (2025-2030)
TABLE 14 MEA Screw Chiller Market, BY Type, $M (2019-2024)
TABLE 15 MEA Screw Chiller Market, BY Type, $M (2025-2030)
TABLE 16 MEA Scroll Chiller Market, BY Type, $M (2019-2024)
TABLE 17 MEA Scroll Chiller Market, BY Type, $M (2025-2030)
TABLE 18 MEA Reciprocating Chiller Market, BY Type, $M (2019-2024)
TABLE 19 MEA Reciprocating Chiller Market, BY Type, $M (2025-2030)
TABLE 20 MEA Absorption Chiller Market, BY Type, $M (2019-2024)
TABLE 21 MEA Absorption Chiller Market, BY Type, $M (2025-2030)
TABLE 22 MEA Chiller Market, BY End User, $M (2019-2024)
TABLE 23 MEA Chiller Market, BY End User, $M (2025-2030)
TABLE 24 MEA Commercial Chiller Market, BY Application, $M (2019-2024)
TABLE 25 MEA Commercial Chiller Market, BY Application, $M (2025-2030)
TABLE 26 MEA Industrial Chiller Market, by application, $M (2019-2024)
TABLE 27 MEA Industrial Chiller Market, by application, $M (2025-2030)
TABLE 28 MEA Chiller Market, BY Country, $M (2019-2024)
TABLE 29 MEA Chiller Market, BY Country, $M (2025-2030)
TABLE 30 Egypt Chiller Market, BY Component, $M (2019-2024)
TABLE 31 Egypt Chiller Market, BY Component, $M (2025-2030)
TABLE 32 Egypt Screw Chiller Market, BY Type, $M (2019-2024)
TABLE 33 Egypt Screw Chiller Market, BY Type, $M (2025-2030)
TABLE 34 Egypt Scroll Chiller Market, BY Type, $M (2019-2024)
TABLE 35 Egypt Scroll Chiller Market, BY Type, $M (2025-2030)
TABLE 36 Egypt Reciprocating Chiller Market, BY Type, $M (2019-2024)
TABLE 37 Egypt Reciprocating Chiller Market, BY Type, $M (2025-2030)
TABLE 38 Egypt Absorption Chiller Market, BY Type, $M (2019-2024)
TABLE 39 Egypt Absorption Chiller Market, BY Type, $M (2025-2030)
TABLE 40 Egypt Chiller Market, BY End User, $M (2019-2024)
TABLE 41 Egypt Chiller Market, BY End User, $M (2025-2030)
TABLE 42 Egypt Commercial Chiller Market, BY Application, $M (2019-2024)
TABLE 43 Egypt Commercial Chiller Market, BY Application, $M (2025-2030)
TABLE 44 Egypt Industrial Chiller Market, by application, $M (2019-2024)
TABLE 45 Egypt Industrial Chiller Market, by application, $M (2025-2030)
TABLE 46 List of Market Players and Their Distributors
TABLE 47 List of Market Players and Their Offerings
TABLE 48 Carrier Global Corporation - At a glance
TABLE 49 Carrier Global Corporation (MEA) - Key financial Summary
TABLE 50 Daikin Middle East and Africa FZE - At a glance
TABLE 51 Daikin Industries Ltd. (MEA) - Key financial Summary
TABLE 52 Mitsubishi Electric Corporation - At a glance
TABLE 53 Panasonic Marketing Middle East & Africa FZE - At a glance
TABLE 54 LG Electronics Inc. - At a glance
TABLE 55 LG Electronics Inc. (MEA) - Key financial Summary
TABLE 56 Blue Star International FZCO - At a glance
TABLE 57 Zamil Air Conditioners Holding Company Ltd. - At a glance
TABLE 58 Zamil Air Conditioners Holding Company Ltd. - Key financial Summary
TABLE 59 Hisense Middle East - At a glance
TABLE 60 Johnson Controls International plc - At a glance
TABLE 61 Petra Engineering Industries Co. - At a glance
TABLE 62 S.K.M Air Conditioning LLC - At a glance
TABLE 63 GAMI Air Conditioners Manufacturing Company L.L.C. - At a glance
TABLE 64 Midea Group Co. Ltd. - At a glance
TABLE 65 Gree Electric Appliances Inc. of Zhuhai - At a glance
TABLE 66 Trane Technologies plc - At a glance
TABLE 67 Samsung Electronics Co. Ltd. - At a glance

List of Figures

FIG 1 Market Size Breakdown by Segment
FIG 2 Research Methodology
FIG 3 Breakdown of Primary Research, By Industry Participant
FIG 4 Breakdown of Primary Research, By Designation
FIG 5 Breakdown of Primary Research, By Company Type
FIG 6 Data Triangulation Approach
FIG 7 MEA and Egypt Chiller Market Summary
FIG 8 GDP Growth in Egypt, 2017-2022 (annual %)
FIG 9 GDP Growth in Bahrain, 2017-2022 (annual %)
FIG 10 GDP Growth in U.A.E., 2017-2022 (annual %)
FIG 11 GDP Growth in Kuwait, 2017-2022 (annual %)
FIG 12 GDP Growth in Qatar, 2017-2022 (annual %)
FIG 13 GDP Growth in Saudi Arabia, 2017-2022 (annual %)
FIG 14 GDP Growth in South Africa, 2017-2022 (annual %)
FIG 15 GDP Growth in Oman, 2017-2022 (annual %)
FIG 16 Industry Growth (including construction), 2017-2022 (annual %)
FIG 17 Industry Growth (including construction), 2017-2022 (% of GDP)
FIG 18 MEA Chiller Market snapshot
FIG 19 MEA Chiller Market, BY Component, $M (2019-2030)
FIG 20 MEA Screw Chiller Market, BY Type, $M (2019-2030)
FIG 21 MEA Scroll Chiller Market, BY Type, $M (2019-2030)
FIG 22 MEA Reciprocating Chiller Market, BY Type, $M (2019-2030)
FIG 23 MEA Absorption Chiller Market, BY Type, $M (2019-2030)
FIG 24 MEA Chiller Market, BY End user, $M (2019-2030)
FIG 25 MEA Commercial Chiller Market, BY Application, $M (2019-2030)
FIG 26 MEA Industrial Chiller Market, by application, $M (2019-2030)
FIG 27 MEA Chiller Market, BY Country, $M (2019-2030)
FIG 28 Egypt chiller Market snapshot
FIG 29 Egypt Chiller Market, BY Component, $M (2019-2030)
FIG 30 Egypt Screw Chiller Market, BY Type, $M (2019-2030)
FIG 31 Egypt Scroll Chiller Market, BY Type, $M (2019-2030)
FIG 32 Egypt Reciprocating Chiller Market, BY Type, $M (2019-2030)
FIG 33 Egypt Absorption Chiller Market, BY Type, $M (2019-2030)
FIG 34 Egypt Chiller Market, BY End user, $M (2019-2030)
FIG 35 Egypt Commercial Chiller Market, BY Application, $M (2019-2030)
FIG 36 Egypt Industrial Chiller Market, BY Application, $M (2019-2030)

MEA Chiller Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Description

Table of Contents

List of Tables

Table of Contents

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

Chapter 6. MEA Market Size and Forecast

Chapter 7. Egypt Market Size and Forecast

Chapter 8. Competitive Landscape

Chapter 9. Company Profiles

Chapter 10. Appendix

List of Tables

List of Figures