Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Middle East & Africa condensing unit expected to propel due to the high durability and long life of advanced condensing units and increasing demand for the refrigerator in end-use industries, such as retail stores, food production, and food services
The Middle East & Africa condensing unit market estimated to grow at a significant CAGR during 2020-2027. It is primarily attributed to the advantages of condensing units such as improved durability and shelf life quality. Additionally, the surge in demand for the refrigerator in Warehousing, food processing, and foodservice industries are projected to demand condensing units in the future periods. Expanding commercial buildings and urban areas, including hospitals, residential complexes, offices, and educational institutes, will positively impact the condensing unit market. Also, the growth in the global non-residential construction and government policies and legislation for the use of energy-efficient devices positively impact the growth of the Middle East & Africa condensing unit market size.
Moreover, the increasing population in MEA, coupled with growing disposable income across the MEA, will accelerate the Middle East & Africa condensing unit industry in the analysis periods. Furthermore, various industries, such as food processing, warehouses, and industrial chemical plants, require an advanced refrigeration process. These factors spur the demand for condensing units in the future periods across the MEA. Also, the increasing global trade of frozen food items, owing to changing food habits, has accelerated the demand for the refrigerator in the commercial industry, thereby condensing units' market will trigger the projected period.
Type Overview in the Middle East & Africa Condensing Unit Market
Based on type, the Middle East & Africa condensing unit market classified into the water-cooled condensing unit, air-cooled condensing unit, and the evaporative condensing unit. The evaporative condensing unit will be the fastest-growing segment in the forecast period. It is attributable to their extended durability and shelf life, and improved performance of refrigeration and air-conditioning systems.
Application Overview in the Middle East & Africa Condensing Unit market
Based on application, the Middle East & Africa condensing unit market classified into Industrial, Commercial, and Transportation. The commercial segment held for the highest revenue in 2019 due to the growing demand for a refrigerator from end-industries such as hospitality, food service, and healthcare.
Function Overview in the Middle East & Africa Condensing Unit Market
Based on function, the Middle East & Africa condensing unit market segmented into air conditioning, refrigeration, and heat pumps. The air conditioning segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the rise in demand for condensing units in the household sector to the commercial industry for its lower part of condensing temperature leads to the reduction of compressor workload, and this helps to attain fuel efficiency.
Refrigerant Type Overview in the Middle East & Africa Condensing Unit Market
Based on the refrigerant type, the Middle East & Africa condensing unit market categorized into fluorocarbons, hydrocarbons, and inorganics. The fluorocarbons segment generated the most substantial revenue in 2019, on account of their usages in larger supermarkets, convenience stores, mini-supermarkets, and other similar retail premises.
Sales Channel Overview in the Middle East & Africa Condensing Unit Market
Based on the sales channel, the Middle East & Africa condensing unit market segmented into Supermarket & Hypermarket and Online. The Supermarket & Hypermarket segment estimated to dominate the condensing unit market by 2027. It is due to the supermarket to utilize the applications of cabinet coolers and display cases, to attract more customers and increase profitability.
Regional Overview in the Middle East & Africa Condensing Unit Market
Based on the region, the Middle East & Africa condensing unit market segmented into UAE, Saudi Arabia, Israel, South Africa, Turkey, and the Rest of the Middle East & Africa. Saudi Arabia accounted for maximum revenue share in 2019, owing to improving economic conditions, growing gross disposable income levels, expansion of the middle-class economy, and better income thresholds.
Middle East & Africa Condensing Unit Market: Competitive Landscape
Companies such as Emerson Electric Co., Carrier Global Corporation, Danfoss, GEA Group Aktiengesellschaft, Heatcraft Refrigeration Products LLC, Voltas Limited, BITZER SE, ADVANSOR A/S, Lennox, Gami, Trosten Industries Company, Fujitsu General, Taqeef, Finpower Aircon LLC, Zamil Air Conditioners, FAWAZ Trading & Engineering Services Co., Daikin, Bluestar, Airdale and Baltimore Aircoil Company are the key players in the Middle East & Africa condensing unit market.