Middle East & Africa Commercial Refrigeration Equipment Market Size & Outlook
Middle East & Africa commercial refrigeration equipment market, 2018-2030 (US$M)
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MEA commercial refrigeration equipment market highlights
- The MEA commercial refrigeration equipment market generated a revenue of USD 2,579.9 million in 2023.
- The market is expected to grow at a CAGR of 6.2% from 2024 to 2030.
- In terms of segment, other equipment was the largest revenue generating product in 2023.
- Transportation Refrigeration Equipment is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 2,579.9 million |
| Market revenue in 2030 | USD 3,918.6 million |
| Growth rate | 6.2% (CAGR from 2023 to 2030) |
| Largest segment | Other equipment |
| Fastest growing segment | Transportation Refrigeration Equipment |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Refrigeration Equipment, Refrigerators & Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers & Ice Vending Equipment, Other Equipment |
| Key market players worldwide | Ashford Hospitality Trust Inc, Altus Group Ltd, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Dover Corp, Electrolux AB ADR, Panasonic Holdings Corp, Illinois Tool Works Inc, Johnson Controls International PLC, Lennox International Inc, Whirlpool Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 6.3% of the global commercial refrigeration equipment 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 17,855.4 million by 2030.
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Commercial Refrigeration Equipment Market Scope
Commercial Refrigeration Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa commercial refrigeration equipment 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 commercial refrigeration equipment market will help companies and investors design strategic landscapes.
Other equipment was the largest segment with a revenue share of 26.33% in 2023. Horizon Databook has segmented the Middle East & Africa commercial refrigeration equipment market based on transportation refrigeration equipment, refrigerators & freezers, beverage refrigeration, display showcases, ice merchandisers & ice vending equipment, other equipment covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East and Africa (MEA) region is expected to grow significantly over the forecast period. This is attributed to the growing demand for packaged food & beverages across the region due to its hot and humid climate. Moreover, key players are investing and expanding their business verticals across the region owing to the growing demand for refrigeration equipment.
For instance, in November 2022, Daikin Europe NV expanded its presence in Saudi Arabia by opening its first factory. The factory is certified as per international certifications ISO 9001, ISO 14001, and ISO 45001 for quality assurance and environmental management, among others.
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Target buyers of Middle East & Africa commercial refrigeration equipment market databook
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Our clientele includes a mix of commercial refrigeration equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 commercial refrigeration equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa commercial refrigeration equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa commercial refrigeration equipment market
Middle East & Africa Commercial Refrigeration Equipment Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa commercial refrigeration equipment market
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