The Middle East and Africa (MEA) is one of the hottest regions on earth, with a large part of it covered by two great deserts: the Sahara and Arabian. This is why air conditioners are an important requirement here, especially during the scorching summers. Moreover, with climate change, higher temperatures are being recorded in the region every year. For instance, in 2017, temperatures of around 54 degree Celsius were recorded in Iran, Kuwait, and Iraq.
Further, the Max Planck Institute for Chemistry says that the temperature rise in the region will be two-times faster than the global average. This is why P&S Intelligence expects the MEA HVAC market to reach $10.1 billion by 2024 from $7.8 billion in 2018, at a 4.9% CAGR during the forecast period (2019–2024). Similarly, countries near or on the equator have average humidity of 50%, which makes ventilation systems necessary here.
Thus, with the strengthening of the economy of Kenya, Republic of Congo, Uganda, Gabon, and Nigeria, the sale of HVAC equipment is increasing in the MEA region. The economic prosperity in the region is visible in the constant rise in the construction activities here. Many of the construction projects are part of the preparations for upcoming events, such as Dubai Expo 2020 (now rescheduled for 2021) and the FIFA World Cup 2022 in Qatar.
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In 2018, 106 4-, 5-, and 7-star hotels with a total of 13,733 guestrooms, along with eight football stadia, were under construction in Qatar. Similarly, in a bid to reduce their dependence on oil exports, numerous Gulf Cooperation Council (GCC) countries are giving a boost to other sectors. Hence, with more commercial, residential, and industrial units being constructed in a region that is plagued by high temperatures and humidity, the demand for HVAC equipment will increase here.
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