Middle East: Hvac Equipment Market 2024

Hvac Equipment Market Size in the Middle East

The Middle Eastern HVAC equipment market amounted to $X in 2022, increasing by X% against the previous year. The total consumption indicated resilient 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. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Hvac Equipment Production in the Middle East

In value terms, HVAC equipment production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Hvac Equipment Exports

Exports in the Middle East

In 2022, shipments abroad of HVAC equipment increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports posted resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, HVAC equipment exports surged to $X in 2022. Total exports indicated a remarkable increase 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

Turkey represented the largest exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by the United Arab Emirates (X units) and Bahrain (X units), together comprising a 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 main 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 largest HVAC equipment supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), together accounting for X% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to 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 the Middle East amounted to $X per unit, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a 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 the Middle East

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% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of import peaked at X units in 2021, and then shrank modestly in the following year.

In value terms, HVAC equipment imports rose markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Turkey (X units) represented the key importer of HVAC equipment, mixing up X% of total imports. It was distantly followed by the United Arab Emirates (X units), Iraq (X units) and Saudi Arabia (X units), together generating a X% share of total imports. Iran (X units), Israel (X units) and Oman (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, Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest HVAC equipment importing markets in the Middle East were the United Arab Emirates ($X), Saudi Arabia ($X) and Iraq ($X), with a combined X% share of total imports. Turkey, Israel, Oman and Iran lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the import price, however, saw a perceptible reduction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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