Market Size of Middle East and Africa Cooling Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Cooling Systems Market Analysis
The cooling systems market in the Middle East and Africa is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the medium term, factors such as increasing investments in the downstream sector and demand for cooling systems from the energy sector are expected to drive the growth of the market studied.
- On the other hand, as the requirement of renewable power plants for fans and blowers is significantly less than that of conventional fossil-fired and nuclear power plants, the increasing share of renewables in the power sector is expected to restrain the cooling systems market in the Middle East and Africa region during the forecast period.
- Nevertheless, increasing advancements in cooling system technology to achieve sustainable industrial growth are likely to create opportunities for the market.
- Saudi Arabia is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the presence of petrochemical industries. The country also has an extensive infrastructure and construction projects.
