Middle East and Africa (MEA) Heat Exchanger Market 2024

Market Overview

The Middle East and Africa (MEA) market size of heat exchanger increased gently from USD 975 million in 2020 to USD 1,100 million in 2023 at a Compound Annual Growth Rate (CAGR) of 4.1%. The heat exchanger market is anticipated to further increase to USD 1,350 million in 2029 at a CAGR of 4.3% from 2024 to 2029. In the MEA region, the oil and gas industry serves as the largest end-user for heat exchangers. However, the market experienced a downturn in 2023 due to a slump in the oil and gas industry, which had a negative impact. Despite this, MEA remains the largest market for centralized cooling systems in commercial and residential areas, which will drive the growth of the heat exchanger market in this region.

According to Tanalyze, the MEA cooling tower segment is expected to exhibit low growth in the coming years. It is projected to reach a market size of USD 333 million in 2029, with a CAGR of 2.1% from the indicated period.

Indeed, the Middle East region has a strong presence in the petrochemical industry, which is a significant driver of the demand for heat exchangers in the region. It is anticipated that the MEA petrochemical market will continue to grow rapidly, with a projected CAGR of 4.3% from 2024 to 2029. The market is expected to reach USD 299 million by 2029, representing a CAGR of 6.2% during this period. This growth in the petrochemical industry is expected to further drive the demand for heat exchangers in the region.

In terms of key players, some prominent companies operating in the MEA heat exchanger market include Alfa Laval AB, API Heat Transfer Inc., Danfoss A/S, Hamon Thermal Europe SA, Hisaka Works, Ltd., Kelvion Holding GmbH, SPX Flow, Inc., and several others. These companies play a vital role in catering to the growing demand for heat exchangers in the region.

This study aims to analyze the global market for various segments of heat exchanger, including:
Product Type: Cooling Tower, Air-Cooled, Shell & Tube, Gasketed Plate, and Others.
End-User: Oil & Gas, Petrochemical, Food & Beverage, Electricity Generation, HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration), and Others (Mineral, Water Treatment, Data Center, Shipbuilding, Pharmaceuticals, Paper, Engineering, etc.).
Region: Middle East and Africa.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 3
Part 1. Key Findings 4
Part 2. Scope and Methodology 5
Report Scope 6
Product Type 6
End-User 6
Region 6
Research Methodology 7
Part 3. Heat Exchanger Market Overview 9
Summary 9
Introduction 11
Part 4. Market Dynamics 13
Growth Drivers and Future Trends 13
Restraints and Challenges 22
Opportunities 27
Pricing Forecast 32
Part 5. MEA Heat Exchanger Market by Product Type 34
Part 6. MEA Heat Exchanger Market by End-User 38
Oil & Gas 39
Petrochemical 40
Food & Beverage 41
Electricity Generation 43
HVACR (Heat, Ventilation, Air Conditioning, and Refrigeration) 44
Others 45
Part 7. MEA Heat Exchanger Market by Country 53
Part 8. Competitive Analysis 54
Competition Overview 54
Alfa Laval AB 55
Business Overview 55
Heat Transfer 57
Contact Information 58
Danfoss A/S 59
Business Overview 59
Contact Information 61
Hisaka Works, Ltd. 62
Business Overview 62
Contact Information 64
Kelvion Holding GmbH 65
Business Overview 65
Contact Information 65
SPX Flow, Inc. 66
Business Overview 66
Contact Information 66
Other Companies 67
Disclaimer 68
FIGURES AND TABLES
Middle East and Africa Heat Exchanger Market, Net Growth, 2020-2029 (USD Million)
Middle East and Africa Heat Exchanger Market by Product Type, 2020-2029 (USD Million)
Middle East and Africa Heat Exchanger Market by Product Type, CAGR Historic and Forecast, 2020-2029
Middle East and Africa Heat Exchanger Market by End-User, 2020-2029 (USD Million)
Middle East and Africa Heat Exchanger Market by End-User, CAGR Historic and Forecast, 2020-2029
Middle East and Africa Heat Exchanger Market Share by Region, 2023
Alfa Laval AB Financial Overview (SEK Million)
Alfa Laval AB Revenue, by Segment, 2022
Alfa Laval AB Revenue, by Product/Service, 2022
Alfa Laval AB Revenue, by Region, 2022
Alfa Laval AB Heat Transfer Revenue (SEK Million)
Danfoss A/S Financial Overview (EUR Million)
Danfoss A/S Revenue, by Segment, 2022
Danfoss A/S Revenue, by Region, 2022
Hisaka Works, Ltd. Financial Overview (JPY Million)
Hisaka Works, Ltd. Revenue, by Segment, 2023