Middle East & Africa Chillers Market Size & Outlook
Middle East & Africa chillers market, 2018-2030 (US$M)
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MEA chillers market highlights
- The MEA chillers market generated a revenue of USD 685.2 million in 2023.
- The market is expected to grow at a CAGR of 5% from 2024 to 2030.
- In terms of segment, water-cooled was the largest revenue generating by product in 2023.
- Air-Cooled is the most lucrative by product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 685.2 million |
| Market revenue in 2030 | USD 965.9 million |
| Growth rate | 5% (CAGR from 2023 to 2030) |
| Largest segment | Water-cooled |
| Fastest growing segment | Air-Cooled |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Water-Cooled, Air-Cooled |
| Key market players worldwide | Trane Technologies PLC Class A, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Johnson Controls International PLC, Rite-Hite, Air Products & Chemicals Inc, Honeywell International Inc, ClimaCool, Fluid Chillers, General Air Products, Rite-Temp |
Other key industry trends
- In terms of revenue, MEA region accounted for 6.9% of the global chillers market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,494.4 million by 2030.
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Chillers Market Scope
Chillers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa chillers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chillers market will help companies and investors design strategic landscapes.
Water-cooled was the largest segment with a revenue share of 60.14% in 2023. Horizon Databook has segmented the Middle East & Africa chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East has been witnessing rising investment in residential, industrial, and commercial building construction. Chillers are used in residential, commercial, and industrial buildings to maintain the ambient temperature and humidity.
In addition, Saudi Arabia invested heavily in infrastructure projects like King Salman Energy Park, NEOM, and others. The NEOM project reached a total investment of USD 1.1 trillion. The below table shows the timelines and total investment attracted by these projects in the region.
Moreover, climatic conditions in the Middle East & Africa are mostly dry and hot throughout the year. The fortified buildings require cooling to protect residents from extreme heat. Chillers provide comfort by supplying dehumidified and cool air. HVAC system equipped with chillers is an essential component in high-rise skyscrapers and industrial buildings.
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Our clientele includes a mix of chillers market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa chillers market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA chillers market size, by country, 2018-2030 (US$M)
Middle East & Africa Chillers Market Outlook Share, 2023 & 2030 (US$M)
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