Once these construction projects are commissioned, a large number of HVAC systems are installed. Among heating, ventilation, and cooling systems, which are the three categories of the HVAC type segment, the cooling category held the largest share in the MEA HVAC market in 2018. The cooling category is subdivided into ducted split/packaged units, variable refrigerant flow (VRF), chillers, split units, and room air conditioners (RACs). Among these, ducted split/packaged units dominated the market during 2014–2018 (historical period).
This is attributed to the rising number of skyscrapers and data centers in the region, where ducted split/packaged units offer a cost-effective and efficient cooling solution. In the years to come, the installations of VRF units are predicted to increase at the highest pace, especially at hypermarkets/supermarkets, commercial offices, and stadiums, because of their cost-effectiveness. Moreover, due to the growing need to conserve electricity and reduce the rate of environmental degradation owing to carbon emissions, green buildings are being constructed in the region, which is driving the demand for VRF systems.
The end user segment of the Middle East and Africa HVAC market is classified into residential, commercial, and industrial, among which the commercial classification generated the highest revenue in 2018. This is attributed to the growth in the region’s hospitality industry and number of commercial buildings. The construction of commercial spaces is being boosted by the government initiatives to diversify their economies. For instance, in Saudi Arabia, the $26.6 billion expansion of Mecca’s grand mosque and construction of the $16.5 billion Haramein high-speed railway are underway.
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Because of such infrastructure development activities, the highest HVAC sales in the MEA region are registered in Saudi Arabia. Since the recovery in oil prices after the slump of 2014–2015, the Saudi economy has rebounded. This is now driving infrastructure development in the country, such as the Riyadh and Jeddah metro networks. Additionally, the number of pilgrims coming to Mecca and Medina is rising, which is leading the government to give the hospitality sector here a boost, thereby resulting in the increasing HVAC sales in the kingdom.
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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