MENA: Hvac Equipment Market 2024

Hvac Equipment Market Size in MENA

The MENA's HVAC equipment market totaled $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Hvac Equipment Production in MENA

In value terms, HVAC equipment production shrank to $X in 2022 estimated in export price. In general, production saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hvac Equipment Exports

Exports in MENA

In 2022, shipments abroad of HVAC equipment increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, HVAC equipment exports skyrocketed to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Turkey (X units) was the main exporter of HVAC equipment, comprising X% of total exports. The United Arab Emirates (X units) held the second position in the ranking, distantly followed by Bahrain (X units). All these countries together held near X% share of total exports. Saudi Arabia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Hvac Equipment Imports

Imports in MENA

In 2022, supplies from abroad of HVAC equipment decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then declined slightly in the following year.

In value terms, HVAC equipment imports rose markedly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the main importing country with an import of about X units, which amounted to X% of total imports. The United Arab Emirates (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (X%) and Saudi Arabia (X%). Iran (X units), Israel (X units), Algeria (X units), Oman (X units) and Kuwait (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the HVAC equipment imports, with a CAGR of X% from 2012 to 2022. At the same time, Israel (X%), Iraq (X%) and Saudi Arabia (X%) displayed positive paces of growth. The United Arab Emirates and Oman experienced a relatively flat trend pattern. By contrast, Kuwait (X%), Iran (X%) and Algeria (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Algeria, Iran and the United Arab Emirates saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Iraq ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Turkey, Israel, Oman, Iran, Algeria and Kuwait lagged somewhat behind, together accounting for a further X%.

Israel, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a pronounced reduction. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform