U.A.E. chiller market is expected to reach $186.4 million by 2024, registering a CAGR of 5.9% during forecast period. Factors including rising demand from district cooling and overall growth in the construction industry are driving the growth of the market. Apart from this, growing demand for inverter chillers anticipated to provide significant opportunities in the forecast period.
During 2015-2017, the country registered a drop in the sales of chillers due to fall in oil prices in 2014-2015, resulted in contraction of the country’s GDP, where oil contributes 30% of GDP, however, diversification of its economy nullified oil price crisis to a great extent.
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On the basis of chiller type, the market is segmented into screw, scroll, centrifugal, reciprocating, and absorption. The absorption category is gaining traction across various industrial applications, wherein consumers are shifting toward solar powered absorption chillers.
Chillers are increasingly being adopted for the cooling purposes in the hotel industry. To prepare for World Expo 2020, the country is witnessing an influx of hotel construction projects. In U.A.E., Dubai is exhibiting the largest number of hotel construction projects, in which top hotel companies including Marriott International, Hilton Hotels & Resorts, and Accor S.A. are gearing-up for the upcoming tourists.
Based on end-user, U.A.E. chiller market has been categorized into commercial, industrial, and residential, wherein commercial is further segmented into hospitality, transportation, offices and buildings, healthcare, supermarket/hypermarket, and government. Of these categories, hospitality category is expected to register huge growth during the forecast period.
Abu Dhabi is expected to provide lucrative opportunities during the forecast period. Apart from developing oil and gas sector, the government is planning to pursue Abu Dhabi 2030 plan, which is aimed at attracting at least 7.9 million tourists, annually.
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Some of the major players in the U.A.E chiller market include Johnson Controls International plc, Ingersoll-Rand plc, United Technologies Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Gree Electric Appliances Inc. of Zhuhai, Zamil Air Conditioners, DANA Group of Companies, S.K.M Air Conditioning LLC.
U.A.E Chiller Market Segmentation
Market Segmentation by Chiller Type
• Screw
o Water-Cooled
o Air-Cooled
• Scroll
o Water-Cooled
o Air-Cooled
• Absorption
o Steam
o Hot Water
o Direct-Fired
• Centrifugal
• Reciprocating
o Water-Cooled
o Air-Cooled
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Asia-Pacific Chiller Market : www.psmarketresearch.com/market-analysis/apac-chiller-market
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