Middle East & Africa Heat Pump Market Size & Outlook
Middle East & Africa heat pump market, 2018-2030 (US$M)
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MEA heat pump market highlights
- The MEA heat pump market generated a revenue of USD 856.1 million in 2022.
- The market is expected to grow at a CAGR of 7.5% from 2023 to 2030.
- In terms of segment, air source was the largest revenue generating technology in 2022.
- Geothermal is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 856.1 million |
| Market revenue in 2030 | USD 1,530.8 million |
| Growth rate | 7.5% (CAGR from 2022 to 2030) |
| Largest segment | Air source |
| Fastest growing segment | Geothermal |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Source, Water Source, Geothermal |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Robert Bosch Engineering & Business Solutions, Lennox International Inc, Johnson Controls International PLC, Hitachi Ltd, Ingersoll Rand Inc, Palomar Holdings Inc, Haier, Panasonic Holdings Corp, Danfoss A/S, Fujitsu Ltd, LG Electronics Inc ADR, Samsung Electronics Co Ltd, Midea Group |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.0% of the global heat pump market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 39,373.0 million by 2030.
Key Regions: UAE , U.S. , Japan , Brazil , Saudi Arabia
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Heat Pump Market Scope
Heat Pump Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa heat pump 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 pump market will help companies and investors design strategic landscapes.
Air source was the largest segment with a revenue share of 81.32% in 2022. Horizon Databook has segmented the Middle East & Africa heat pump market based on air source, water source, geothermal covering the revenue growth of each sub-segment from 2018 to 2030.
According to the IMF, the GDP of the Middle East is projected to witness growth at the rate of 4% in 2021. Factors such as vaccine rollout, improvement in oil pricing, and financial stimulus packages by governments are responsible for boosting the GDP growth. Favorable policies are anticipated to have a major role in attracting FDI to the construction sector.
The African Development Bank Group forecasted a 3.4% growth in the African economy in 2021. Infrastructure, mining, and oil & gas are some of the key sectors promoting the growth of the African economy.
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Target buyers of Middle East & Africa heat pump market databook
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Our clientele includes a mix of heat pump 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 heat pump market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa heat pump market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA heat pump market size, by country, 2018-2030 (US$M)
Middle East & Africa Heat Pump Market Outlook Share, 2022 & 2030 (US$M)
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