U.A.E. HVAC market is expected to attain a size of $1.4 billion by 2024, progressing at a 6.4% CAGR during the forecast period 2019-2024 according to Research and Market report. The factors driving the market are the increasing spending on transportation sector along with the expanding hospitality industry in the country.
Based on HVAC type, the market is categorized into heating, ventilation, and cooling. Among these, the ventilation category is predicted to exhibit the fastest CAGR during the forecast period in the UAE HVAC market, owing to the expansion of commercial spaces, such as metro projects, hotels, and shopping malls, where ventilation systems are an essential requirement.
On basis of cooling type, UAE HVAC market is divided into split units, room air conditioners (RAC), VRF, chillers, and ducted split/packaged units. Out of these, VRF is anticipated to register the fastest growth in the market because of the rising construction rate of green buildings in the country, escalating the demand for highly-efficient VRF systems. The growing number of construction projects in the transportation sector is also one of the key drivers of the market. In the country there is a massive increase in projects pertaining to construction of new airports and metro systems. Currently, there are many metro railway expansion projects in line. For instance, Abu Dhabi has planned to start more than 81 miles long metro rail . The overall metro network would include four lines with numerous stations, where HVAC systems will be installed in plenty.
