Iraq Facts

Things to know

About Iraq

  • Iraq Hvac Industry
    • Iraq air conditioner market is likely to exhibit 5.7% of growth by 2024. With more than 40 million population, Iraq remains an attractive consumer market with potential of over $40 billion.

    • The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences.

    • The global heating, ventilation, and air conditioning (HVAC) market is projected to reach about 367.5 billion U.S. dollars by 2030, based on a compound annual growth rate (CAGR) of 3.9 percent between 2020 and 2030. A more recent projection estimates that the market volume of the HVAC market will reach 151.1 million units by 2024. Growth in the HVAC market is likely due to continued growth in construction sector revenues, from both publicly and privately funded projects.
  • Iraq Construction Industry
    • The construction industry is expected to register annual growth in the range of 5-7% between 2022-2025

    • In January 2021, Iraq awarded projects worth IQD23.6 trillion (US$20 billion) to a consortium of Chinese companies. The country is also seeking international investors to build solar projects with a combined capacity of 750MW, in line with its aims to build 10GW of solar projects by 2030.

    • Iraq accounts to over USD 255 billion worth of planned and ongoing projects. Iraq is most active in the oil & gas sector contributing more than 45% to the total value of projects in the country followed by 27% in urban construction and 15% in utilities sector.
  • Top Projects In Iraq
    • Al Muthana Porcelain & Floors Factory
    • MOE/GE - 14 GW Power Generation Plants and Electricity Network
    • Bismayah Development - Al Kut Baghdad Highway
    • Baghdad-Kut-Umara-Basra Railway Network
  • Planned Projects In Iraq
    • $500 Million – Value of 49 road construction projects
    • 25.000 – 25.500 – Housing units are needed each year, with a total of 135.000 units to be build
    • 5000 – 6000 – Social housing dwellings
    • 2000 – 2500 - Dwellings each year for tenants
    • 18.000 – 20.000 – Dwellings for remanining inhabitants