The air conditioner systems are not a luxury, but rather a necessity in the GCC region due to its extreme weather conditions where the temperature can reach as high as 50 degrees Celsius. The GCC Air Conditioner Aftermarket is growing at a robust rate owing to the launch of higher energy efficiency rating commercial air conditioning systems in Saudi Arabia and surging investment by the governments of UAE, Qatar, Saudi Arabia towards the development of commercial infrastructure and hospitality sector. Moreover, the launch of HVAC project for residential, commercial and industrial applications, host of international events in the GCC countries such as Expo 2021 in Dubai and Qatar FIFA 2022 along with along with launch of various government escalating government investment transportation sector are some of the factors towards the growth of air conditioner aftermarket in the forecasted years.
According to MarkNtel Advisors’ research report “GCC Air Conditioner Aftermarkets Analysis, 2020”, the GCC Air Conditioner Aftermarkets is expected to grow at a considerable CAGR during 2020-25. The stringent regulation to curb greenhouse gases emission and to reduce electricity consumption the adoption district cooling facility is rising in the countries like UAE and Saudi Arabia and issue of HVAC-related guidelines such as the LEED certification in order to make sure the residential and commercial buildings adhere to energy efficiency standards which would further hamper the growth of the market in the coming years.
“GCC Air Conditioner Aftermarkets Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Air Conditioner Aftermarkets providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
UAE is expected to attain highest CAGR in the Coming Years
UAE is expected to attain highest CAGR by 2025. Dubai acquired the majority market share in the UAE market. The growth of the market is attributed to rising investment of towards the end-user sector such as transportation, hospitality, and residential sector along with host of the international event and increase in greenfield investment. Besides this, the growing awareness about the periodic maintenance of AC among the customer is anticipated to place an optimistic impact towards the growth of GCC Air Conditioner Aftermarkets in the near future as revealed by the MarkNtel Advisors’ research report “GCC Air Conditioner Aftermarkets Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the GCC Air Conditioner Aftermarkets include Carrier, Aftron, Trane, Daiken, LG, Mitsubishi etc.
Key questions answered in the study: