U.A.E. HVAC Market is Expected to Reach $1.4 Billion by 2024: P&S Intelligence

U.A.E HVAC Market by HVAC Type (Heating [Heat Pumps {Air Source, Water Source, Ground Source}, Furnaces {Gasoline, Propane, Electric}, Boilers {Fire-tube, Water-tube} Unitary Heaters], Ventilation [Ventilation Fans {Centrifugal Fans, Axial Fans, Domestic Exhaust Fans, Power Roof Fans}, Air Handling Units {Terminal Units, Makeup Air Units, Rooftop Units} and Fan Coil Units {Two-pipe, Four-pipe}, Humidifiers/Dehumidifiers, Air Cleaners {Type 1, Type 2, Type 3, Type 4, Type 5}], Cooling [Room ACs {Mini Splits, Window ACs}, Split Units, Ducted Split/Packaged Unit {Packaged Unit With Water Cooled Condenser, Packaged Units With Air Cooled Condenser}, Variable Refrigerant Flow {Heat Pump Systems, Heat Recovery Systems}, Chillers {Centrifugal, Screw, Scroll, Absorption, Reciprocating}]), by End-User (Commercial [Offices and Buildings, Supermarkets/Hypermarkets, Government, Healthcare, Hospitality, Transportation], Industrial [Oil and Gas, Food and Beverage, Automotive, Energy and Utilities], Residential), By Region (Dubai, Abu Dhabi & Al Ain, and Sharjah & Other Northern Emirates) – U.A.E. Market Size, Share, Development, Growth and Demand Forecast, 2014–2024

NEW YORK, March 25, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, U.A.E. HVAC market is expected to reach $1.4 billion by 2024, registering a CAGR of 6.4%, during the forecast period. The growth in the market can be attributed to rising investments in the tourism-related projects, commercial infrastructure, and development in the overall transportation sector.

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On the basis of HVAC type, U.A.E. HVAC market is segmented into heating, ventilation, and cooling. Of these, ventilation category is anticipated to exhibit fastest CAGR during the forecast period, due to increasing development of commercial spaces like upcoming metro projects, shopping malls, hotels, and others in the country, where ventilation system is expected to find its widespread application.

Based on cooling type, U.A.E. HVAC market has been segmented into room air conditioner (RAC), split units, variable refrigerant flow (VRF), ducted split/packaged unit, and chillers. Among these, VRF is expected to register fastest growth in the market. This can be attributed to the increasing construction of green buildings in the country, which is driving the demand for high-efficiency VRF systems.

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Increasing construction projects in transportation sector is one of the key drivers of U.A.E. HVAC market. U.A.E. is exhibiting rise in construction projects in transportation sector pertaining to metro railway expansion projects and construction of new airports. The country is registering major investments in transportation sector attributed to upcoming international trade fair World Expo in 2020.

In the recent past, facility expansion has been the major activities observed in U.A.E. HVAC market. Daikin Industries Ltd., and Johnson Controls International PLC have been observed as the forerunner in strategic developments in the last year. These company are majorly focusing on facility expansion to strengthen their position in the market.

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Some of the major players operating the U.A.E. HVAC market includes, United Technologies Corporation, SKM Air Conditioning LLC., Zamil Air Conditioners, LG Electronics Inc., Gree Electric Appliances Inc. of Zhuhai, Mitsubishi Electric Corporation, Johnson Controls International PLC, Danfoss A/S, Ingersoll-Rand plc, Midea Group Co. Ltd., and Daikin Industries Ltd.

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