A number of factors, such as the rising installation of chillers for district cooling systems and growing construction sector due to the increasing spending on infrastructure by governments are projected to drive the growth of the MEA chiller market at a CAGR of 3.6% during the forecast period (2019–2024). According to PS Intelligence, the market generated revenue of $1.1 billion in 2018, which is expected to grow to $1.3 billion by 2024. Currently, the market is witnessing the trends of magnetic-bearing chillers and smart connected chillers. 

Moreover, the growing awareness about inverter-based chillers offers extensive opportunities to the market players. These chillers are highly efficient when compared to conventional air conditioning systems. The inverter in the chiller regulates the power operations automatically, depending upon the actual necessity, which removes the need for manual on/off operations. Thus, inverter-based chillers offer several benefits such as electricity bill reduction of up to 50%, stable temperature, no sound disturbance, quick cooling, and longer life.

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Therefore, major players in the market have been involved in product launches to stay ahead in the competition. Additionally, the Middle East and Africa chiller market is classified into screw, reciprocating, scroll, centrifugal, and absorption, on the basis of type. Among these, the screw category accounted for the largest market share in 2018, owing to the increasing installation of such systems in the commercial and industrial sectors. Further, the growing hospitality sector in the region due to the upcoming mega events, such as the Dubai Expo 2020, is leading to the construction of several hotels, where screw chillers are widely used. 

Thus, the growing construction sector and the increasing investment in the oil and gas sector are expected to propel the market growth during the forecast period. This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings