Middle East & Africa HVAC System Market Forecast to 2030

Middle East & Africa HVAC System Market Forecast to 2030 – Regional Analysis – by Component (Thermostat, Air Handling Units, Central ACs, Furnace, Heat Pump, Compressor, and Others), Type (Split System, Ductless System, and Packaged System), Implementation (New Installation, and Retrofit), and Application (Residential, Commercial, and Industrial)

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Description

The Middle East & Africa HVAC system market was valued at US$ 15,234.42 million in 2022 and is expected to reach US$ 30,058.55 million by 2030; it is estimated to grow at a CAGR of 8.9% from 2022 to 2030.

Need for Replacement of Traditional HVAC Systems with Newer HVAC Systems Fuels the Middle East & Africa HVAC System Market.

A traditional HVAC system is a split system with units both inside and outside the premises. The furnace is often located in a basement or garage. The air conditioner’s condenser unit cools off the refrigerant gas that cools down the air in the evaporator within the furnace unit outside the premise. Outside units produce a lot of noise, while indoor units are mostly low on noise. These older systems have less energy efficiency, and they generate and contribute to the emission of greenhouse gases due to the use of components with old standards in the system. They also need frequent maintenance, increasing the overhead costs.

Middle East & Africa HVAC System Market Overview

The Middle East & Africa (MEA) is gradually witnessing a high growth potential for the Middle East & Africa HVAC system market. The regulations formed by the governments in Middle Eastern countries in accordance with energy efficiency and the preference for eco-friendly refrigerants which are the least detrimental to the environment increase the need for HVAC systems as these HVAC systems use eco-friendly refrigerants for energy efficiency in regions such as the South Africa, Saudi Arabia, and UAE. Extreme weather conditions, growth in infrastructure/urban development projects, increasing population are some of the few factors that will impede global as well regional players to invest in MEA Middle East & Africa HVAC system market.

Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa HVAC System Market Segmentation

The Middle East & Africa HVAC system market is segmented based on component, type, implementation, application, and country. Based on component, the Middle East & Africa HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held the largest market share in 2022.

Based on type, the Middle East & Africa HVAC system market is segmented into split system, ductless system, and packaged system. The split system segment held the largest market share in 2022.

Based on application, the Europe HVAC System Market is segmented into residential, commercial, and industrial. The residential segment held the largest market share in 2022.

Based on Implementation, the Middle East & Africa HVAC System Market is segmented into new installation and retrofit. the new installation segment held a larger market share in 2022.

Based on country, the Middle East & Africa HVAC system market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa HVAC

SAFID CO LTD, Blue Star Ltd, Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc are some of the leading companies operating in the Middle East & Africa HVAC system market.

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At 8.9% CAGR, the Middle East & Africa HVAC System Market is speculated to be worth US$ 30,058.55 million by 2030, saysthe research team.

According tothe research team’ research, the Middle East & Africa HVAC system market was valued at US$ 15,234.42 million in 2022 and is expected to reach US$ 30,058.55 million by 2030, registering a CAGR of 8.9% from 2022 to 2030. Growth in government regulatory policies for energy saving and conservation is the critical factors attributed to the Middle East & Africa HVAC system market expansion.

Energy efficiency can be hard to monitor and improve with older HVAC systems. Generally, energy usage data is only discovered after it has been used, making it challenging to rectify or make up for. Additionally, if a system has a developing issue, it could struggle for days or weeks before failing entirely, wasting additional energy. IoT sensors installed on HVAC equipment can increase energy efficiency by monitoring usage trends and even considering weather predictions as they provide access to real-time data. The end effect is improved interior climate management with little electricity use. HVAC systems can be a significant component of IoT-enabled smart grid connectivity. IoT technology makes remote system monitoring possible, allowing users to identify issues from a distance by consulting a smartphone app or online portal. For Instance, some sensors track vital information, such as pressure, vibration, flow, temperature, humidity, on-off cycles, and fault tolerance for providing leak detection information. Technicians can easily access the insights they need to get into systems’ status and accordingly provide the solution to fix any malfunction. Most HVAC companies have a compulsory requirement for regulatory compliance, frequently requiring a field agent to inspect equipment regularly. It is challenging to accomplish and record such compliance with disconnected systems with no integration of IoT, which needs lots of paperwork and physical system checks to prove the adherence to compliance standards. Thus, the integration of IoT into HVAC systems is the key trend in the market, which is likely to boost the demand for HVAC systems.

On the contrary, lack of skilled technical workforce hurdles the growth Middle East & Africa HVAC system market.

Based on component, the Middle East & Africa HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held 25.4% market share in 2022, amassing US$ 3,862.02 million. It is projected to garner US$ 8,336.20 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on type, the Middle East & Africa HVAC system market is categorized into split system, ductless system, and packaged system. the split system segment held 46.7% share of the Middle East & Africa HVAC system market in 2022, amassing US$ 7,108.27 million. It is projected to garner US$ 14,333.22 million by 2030 to expand at 9.2% CAGR during 2022–2030.

Based on implementation, the Middle East & Africa HVAC system market is bifurcated into new installation and retrofit. the new installation segment held 60.1% share of Middle East & Africa HVAC system market in 2022, amassing US$ 9,155.86 million. It is projected to garner US$ 16,927.14 million by 2030 to expand at 8.0% CAGR during 2022–2030.

Based on application, the Middle East & Africa HVAC system market is segmented into residential, commercial, and industrial. The residential segment held 47.2% share of Middle East & Africa HVAC system market in 2022, amassing US$ 7,184.26 million. It is projected to garner US$ 13,914.22 million by 2030 to expand at 8.6% CAGR during 2022–2030.

Based on country, the Middle East & Africa HVAC system market is segmented into South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa. Saudi Arabia segment held 36.1% share of Middle East & Africa HVAC system market in 2022, amassing US$ 5,502.53 million. It is projected to garner US$ 10,409.10 million by 2030 to expand at 8.3% CAGR during 2022–2030.

Key players operating in the Middle East & Africa HVAC system market are SAFID CO LTD, Blue Star Ltd, Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc among others.

In Feb 2023, Johnson Controls-Hitachi Air Conditioning introduced the new addition to the VRF lineup offered, the air365 Max. It’s designed to offer seamless comfort, energy efficiency, and easily operated features. The air365 Max is an end-to-end solution for HVAC professionals, architects, and building owners.

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TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa HVAC System Market Landscape
4.1 Market Overview
4.1.1 Middle East & Africa
4.2 Ecosystem Analysis
4.3 Expert Opinions
4.4 Cost Analysis
4.4.1 Cost Analysis
4.4.2 Cost Impacting Trends
5. Middle East & Africa HVAC System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Energy-efficient Solutions
5.1.2 Growth in Government Regulatory Policies for Energy Saving and Conservation
5.1.3 Development of Smart HVAC System Promoting Demand
5.2 Key Market Restraints
5.2.1 Lack of Skilled Technical Workforce
5.2.2 Higher Upfront Cost of Installation, Repair, and Maintenance of HVAC System
5.3 Key Market Opportunities
5.3.1 Need for Replacement of Traditional HVAC Systems with Newer HVAC Systems
5.3.2 Growing Adoption of Low Global Warming Potential Refrigerant
5.4 Future Trends
5.4.1 Integration of IoT into HVAC Systems
5.5 Impact Analysis of Drivers and Restraints
6. HVAC System Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa HVAC System Market Revenue Forecast and Analysis
7. Middle East & Africa HVAC System Market Analysis – By Component
7.1 Overview
7.2 Middle East & Africa HVAC System Market, by Component (2022 and 2030)
7.3 Thermostat
7.3.1 Overview
7.3.2 Thermostat: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Air Handling Units
7.4.1 Overview
7.4.2 Air Handling Units: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Central ACs
7.5.1 Overview
7.5.2 Central ACs: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Furnace
7.6.1 Overview
7.6.2 Furnace: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.7 Heat Pump
7.7.1 Overview
7.7.2 Heat Pump: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.8 Compressor
7.8.1 Overview
7.8.2 Compressor: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa HVAC System Market Analysis – By Type
8.1 Overview
8.2 Middle East & Africa HVAC System Market, By Type (2022 and 2030)
8.3 Split System
8.3.1 Overview
8.3.2 Split System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
8.4 Ductless System
8.4.1 Overview
8.4.2 Ductless System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
8.5 Packaged System
8.5.1 Overview
8.5.2 Packaged System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa HVAC System Market Analysis – By Implementation
9.1 Overview
9.2 Middle East & Africa HVAC System Market, By Implementation (2022 and 2030)
9.3 New Installation
9.3.1 Overview
9.3.2 New Installation: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
9.4 Retrofit
9.4.1 Overview
9.4.2 Retrofit: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa HVAC System Market Analysis – By Application
10.1 Overview
10.2 Middle East & Africa HVAC System Market, By Application (2022 and 2030)
10.3 Residential
10.3.1 Overview
10.3.2 Residential: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10.4 Commercial
10.4.1 Overview
10.4.2 Commercial: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10.5 Industrial
10.5.1 Overview
10.5.2 Industrial: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
11. Middle East & Africa HVAC System Market
11.1 Overview
11.1.1 Middle East & Africa HVAC System Market Breakdown, by Country
11.1.1.1 Saudi Arabia HVAC System Market, Revenue and Forecast to 2030 (US$ million)
11.1.1.1.1 Saudi Arabia HVAC System Market Breakdown, by Application
11.1.1.1.2 Saudi Arabia HVAC System Market Breakdown, by Type
11.1.1.1.3 Saudi Arabia HVAC System Market Breakdown, by Component
11.1.1.1.4 Saudi Arabia HVAC System Market Breakdown, by Implementation
11.1.1.2 UAE HVAC System Market, Revenue and Forecast to 2030 (US$ million)
11.1.1.2.1 UAE HVAC System Market Breakdown, by Application
11.1.1.2.2 UAE HVAC System Market Breakdown, by Type
11.1.1.2.3 UAE HVAC System Market Breakdown, by Component
11.1.1.2.4 UAE HVAC System Market Breakdown, by Implementation
11.1.1.3 South Africa HVAC System Market, Revenue and Forecast to 2030 (US$ million)
11.1.1.3.1 South Africa HVAC System Market Breakdown, by Application
11.1.1.3.2 South Africa HVAC System Market Breakdown, by Type
11.1.1.3.3 South Africa HVAC System Market Breakdown, by Component
11.1.1.3.4 South Africa HVAC System Market Breakdown, by Implementation
11.1.1.4 Rest of MEA HVAC System Market, Revenue and Forecast to 2030 (US$ million)
11.1.1.4.1 Rest of MEA HVAC System Market Breakdown, by Application
11.1.1.4.2 Rest of MEA HVAC System Market Breakdown, by Type
11.1.1.4.3 Rest of MEA HVAC System Market Breakdown, by Component
11.1.1.4.4 Rest of MEA HVAC System Market Breakdown, by Implementation
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Development
13. Company Profiles
13.1 Mitsubishi Electric Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Blue Star Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 SAFID CO LTD
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Hitachi Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Daikin Industries Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Emerson Electric Co
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Honeywell International Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 LG Electronics Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Carrier Global Corp
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Johnson Controls Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About
14.2 Word Index

LIST OF TABLES

Table 1. Cost Analysis
Table 2. Middle East & Africa HVAC system market, Revenue and Forecast, 2020–2030 (US$ Million)
Table 3. Saudi Arabia HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 4. Saudi Arabia HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 5. Saudi Arabia HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 6. Saudi Arabia HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 7. UAE HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 8. UAE HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 9. UAE HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 10. UAE HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 11. South Africa HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 12. South Africa HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 13. South Africa HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 14. South Africa HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 15. Rest of MEA HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 16. Rest of MEA HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 17. Rest of MEA HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 18. Rest of MEA HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 19. List of Abbreviation

LIST OF FIGURES

Figure 1. Middle East & Africa HVAC System Market Segmentation
Figure 2. Middle East & Africa HVAC System Market Segmentation – By Country
Figure 3. Middle East & Africa HVAC System Market Overview
Figure 4. Middle East & Africa HVAC System Market, By Component
Figure 5. Middle East & Africa HVAC System Market, by Type
Figure 6. Middle East & Africa HVAC System Market, By Implementation
Figure 7. Middle East & Africa HVAC System Market, by Application
Figure 8. Middle East & Africa HVAC System Market, by Geography
Figure 9. Middle East & Africa – PEST Analysis
Figure 10. Middle East & Africa HVAC System Market- Ecosystem Analysis
Figure 11. Middle East & Africa HVAC System Market: Impact Analysis of Drivers and Restraints
Figure 12. Middle East & Africa HVAC System Market Revenue Forecast and Analysis (US$ Million)
Figure 13. Middle East & Africa HVAC System Market Revenue Share, by Component (2022 and 2030)
Figure 14. Thermostat: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Air Handling Units: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Central ACs: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Furnace: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Heat Pump: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Compressor: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: Middle East & Africa HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Middle East & Africa HVAC System Market, By Type (2022 and 2030)
Figure 22. Split System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 23. Ductless System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 24. Packaged System: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 25. Middle East & Africa HVAC System Market, By Implementation (2022 and 2030)
Figure 26. New Installation: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 27. Retrofit: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 28. Middle East & Africa HVAC System Market, By Application (2022 and 2030)
Figure 29. Residential: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 30. Commercial: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 31. Industrial: Middle East & Africa HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 32. Middle East & Africa HVAC System Market, by Key Country – Revenue (2022) (US$ Million)
Figure 33. Middle East & Africa HVAC System Market Breakdown, by Country, 2022 & 2030 (%)
Figure 34. Saudi Arabia HVAC System Market, Revenue and Forecast To 2030 (US$ million)
Figure 35. UAE HVAC System Market, Revenue and Forecast To 2030 (US$ million)
Figure 36. South Africa HVAC System Market, Revenue and Forecast To 2030 (US$ million)
Figure 37. Rest of MEA HVAC System Market, Revenue and Forecast To 2030 (US$ million)

The List of Companies – Middle East & Africa HVAC System Market

– Mitsubishi Electric Corp
– Blue Star Ltd
– SAFID CO LTD
– Hitachi Ltd
– Daikin Industries Ltd
– Emerson Electric Co
– Honeywell International Inc
– LG Electric Inc
– Carrier Global Corp
– Johnson Controls Inc

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