The increasing rate of residential projects in Middle East and rising urbanization in Middle East and Africa region has propelled the need of HVACR system. Rather than a luxury product, HVACR is now seen as a necessity due to the harsh climactic conditions of these regions. Leading manufacturers have taken this opportunity to penetrate the market by launching energy efficient and cost effective products in the region.
During the last quarter of 2016, Daikin launched more than 15 new products in the Middle East and Africa region. These products were especially made to cater to the high ambient conditions of the GCC, exceeding the minimum energy efficiency requirements set by regional regulators such as ESMA, Estidama, AD QCC, SASO, MEW, QSSASO, Bahrain SASO and others. Regulators and clients in this region have stressed on the production of greener and more efficient products, which are suitable for this region. Other leading players such as LG Electronics, Carrier, Trane, Johnson controls, are also undertaking different strategies to stay ahead in the global market.
The rising population in the Middle East Africa region has triggered the demand for electricity on a wide scale. To regulate and control the climactic impact of the HVAC systems, government and regulatory bodies have developed stringent policies and regulations that govern the HVACR units operation in the region. Moreover, the market trend is shifting towards a more sustainable HVAC system which utilises renewable energy resources, like solar energy, and ground cooling technology such as Geothermal Heat Pumps (GHPs).
Acknowledging the stiff competition in the market among various industry players, BIS Research has compiled a report, titled ‘Middle East and Africa (MEA) Heating, Ventilation, Air-Conditioning, and Refrigeration (HVACR) Market-Analysis and Forecast: 2016-2022’, which is a comprehensive study of the Middle East and Africa Heating, Ventilation Air-conditioning and Refrigeration (HVACR) market, categorizing the market by type of products and components across different countries.
According to the analyst at BIS Research, “Africa HVACR market volume is expected to reach a volume of 3,595.48 thousand units by 2022. The demand for HVACR products in the African market is mainly driven by factors such as increasing consumer demands for low-cost, energy efficient products as well as rise in residential, commercial and industrial developments in the region.”
The study highlights the key driving and restraining forces of the market, while presenting an in-depth analysis of the Porter’s five forces model of the HVACR market and an assessment of the factors governing it. The report examines the ecosystem of the energy efficient devices market, building itself upon an all-inclusive value chain. The report also includes a separate segment of profiles of major players in the market, such as Carrier, Trane, Johnson controls, Daikin, along with local players such as SKM Air conditioning and Zamil Air Conditoners, among others in the HVACR market