The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the MEA Modular Chillers Market include:
- Multistack LLC.
- Frigel Firenze S.p.A.
- Midea
- Johnson Controls.
- Carrier
- Gree Electric Appliances Inc.
- Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
- Ingersoll-Rand Inc.
- Armec
- LG Electronics
Key Drivers of the MEA Modular Chillers Market:
The primary factor boosting the growth of the MEA modular chillers market include the rising adoption for HVAC systems in the developing countries such as Saudi Arabia and U.A.E. There has been an increase in the number of commercial construction projects and smart cities projects, especially in the developing economies of the region such as U.A.E and Saudi Arabia. The growing adoption of modular chillers in several upcoming mega projects such as King Salman Park, NEOM, Saudi Vision 2030, Qatar FIFA World Cup 2022, Dubai World Expo 2020, and Konza Technology City is one of the factors propelling the growth of the MEA modular chillers market size in the region.
Additionally, favorable government initiatives pertaining to FDI in the construction sector and raised spending by the government on infrastructure projects are some other important drivers that are surging the growth of the market. According to the MEA modular chillers market report, the demand for energy-efficient modular chillers among the end-users is rising at a substantial rate due to strict regulations related to carbon emissions. For example, The U.A.E. Ministry for Commerce and Industry issued Federal Law No. 21 Energy Efficiency Standards Labelling (EESL), which aims to reduce energy consumption. The decreased energy efficiency COP (Energy Efficiency Ratio) for air-cooled package chiller is 8.50 to 9.50, and water-cooled chiller is 13.50 to 17.00.
The MEA modular chillers market will witness negative influence by the slowdown in the commercial, industrial, and residential construction sector owing to the COVID-19 pandemic in 2020. This factor will impact the sales of the modular chiller in the MEA region. The major reason behind the significant fall in the supplies of various components of modular chillers from China hinders the production of modular chillers worldwide. The distributors are worried that the customers may not buy these products in the upcoming years due to the fear of contracting the virus using modular chillers in their offices, homes, and factories. Moreover, the market is projected to fall significantly in 2020 but will bounce back at a significantly higher rate by 2021. Thereafter, the market will register strong growth until 2027.
Segmentation of the MEA Modular Chillers Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of type, this report displays the production, revenue, price, market share, and overall growth rate of each type, primarily split into:
- Water-Cooled
- Air-Cooled
On the basis of application, this report displays the production, revenue, price, market share, and overall growth rate of each application, primarily split into:
- Commercial
- Residential
- Industrial
On the basis of countries, this report displays the production, revenue, price, market share, and overall growth rate of each countries, primarily split into:
- UAE
- Saudi Arabia
- Oman
- Kuwait
- South Africa
- Nigeria
- Algeria
- Kenya
- Rest of MEA
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