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2.8 MIDDLE EAST -- Iran
2017/11/26
Iran’s GDP came to 6.54%, by far the highest growth seen in the Middle East in 2016. Economic sanctions were lifted on January 20, 2016, but trade sanctions remain in place, which is dampening business activity.
 
Iran is the second-largest chiller market in the Middle East. Its market scale reached US$ 141.8 million in 2016. This makes it the ninth-largest market in the world, but it was still down 4.7% over 2015.
 
By type, screw chillers take the largest share of the market at 38.4% on a value basis, followed by reciprocating chillers at 25.7%, absorption chillers at 23.1%, scroll chillers at 11.0%, and centrifugal chillers at 1.8%. Iran’s reciprocating chiller market is the largest in the world and accounts for more than 34% of the world market.
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