Middle East & Africa Heat Exchangers Market Size & Outlook
Middle East & Africa heat exchangers market, 2018-2030 (US$M)
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MEA heat exchangers market highlights
- The MEA heat exchangers market generated a revenue of USD 1,507.6 million in 2023.
- The market is expected to grow at a CAGR of 5.1% from 2024 to 2030.
- In terms of segment, shell & tube was the largest revenue generating product in 2023.
- Plate & Frame is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 1,507.6 million |
| Market revenue in 2030 | USD 2,140.5 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Shell & tube |
| Fastest growing segment | Plate & Frame |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plate & Frame, Shell & Tube, Air-cooled |
| Key market players worldwide | Alfa Laval AB, Danfoss A/S, Kelvion, Xylem Inc, API Heat Transfer, Mersen SA, Hisaka Works, Chart Industries Inc, Johnson Controls International PLC, HRS Heat Exchangers, SPX Technologies Inc, Koch Industries, Southern Co, Güntner, FUNKE |
Other key industry trends
- In terms of revenue, MEA region accounted for 8.3% of the global heat exchangers 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 8,863.9 million by 2030.
Key Regions: UAE , U.S. , Japan , Brazil , Saudi Arabia
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Heat Exchangers Market Scope
Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa heat exchangers 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 heat exchangers market will help companies and investors design strategic landscapes.
Shell & tube was the largest segment with a revenue share of 35.57% in 2023. Horizon Databook has segmented the Middle East & Africa heat exchangers market based on plate & frame, shell & tube, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East & Africa (MEA) heat exchangers market is primarily characterized by the growing HVAC and petrochemical sectors. Ongoing mega construction projects in commercial, residential, and hospitality segments are expected to fuel the growth of HVAC market over a long period.
Rising population coupled with surging energy demand in countries, such as the UAE and Saudi Arabia, is expected to propel the requirement for energy-efficient equipment over the forecast period. Concentrating Solar Power (CSP) projects in countries, such as South Africa, Egypt, and Morocco, are expected to fuel the demand for heat exchangers in Africa.
Increasing competition with the U.S. and changing global feedstock mix are leading petrochemical producers in the country to invest in new technologies. In addition, petrochemical industry is involved in diversifying its feedstock mix and expanding its product portfolio to include high-valued intermediaries. These factors are anticipated to fuel the growth of chemical sector over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa heat exchangers market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA heat exchangers market size, by country, 2018-2030 (US$M)
Middle East & Africa Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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