The GCC Air Conditioner Market is expecting around 5% CAGR during 2023-28, states MarkNtel Advisors in their recent research report. The increasing investments by the government of different countries across GCC in infrastructural developments & new construction projects in line with the strategic plan for economic diversification is the prime aspect driving the air conditioner market.
Besides, the increasing inflow of tourists & migrants into GCC is surging the demand for more hotels, shopping malls, airports, and metros & railway stations, i.e., another crucial aspect propelling the sales of air conditioners in the region.
Moreover, the development of energy-efficient air conditioners as a step forward in reducing carbon emissions & addressing the environmental concerns shall also play a crucial role in stimulating the overall market growth through 2028, further states the research report, “GCC Air Conditioner Market Analysis, 2023.”
Swift Expanding Commercial Sector to Boost the Air Conditioner Market through 2028
The favorable government policies are attracting massive foreign direct investments, i.e., leading to the establishment of several multinational companies & start-ups across the GCC. It, in turn, is augmenting the need for more and more corporate spaces in the region, i.e., directly impacting the demand for air conditioners for the commercial sector.
Besides, increasing construction activities associated with airports, metro & railway stations, and centrally-cooled stadiums & auditoriums, among others, are other commercial facilities that require air conditioners, thereby fueling the overall market growth through 2028.
Active Engagement of Government & Leading Players in the UAE to Drive the Market
The increasing government inclination toward diversifying the economy away from the oil sector, i.e., portraying multiple infrastructural development projects related to airports, hotels, resorts, commercial complexes, metros & railway stations, etc., is playing a crucial role in surging the demand for air conditioners across the UAE.
Besides, massive R&D investments by the UAE government for the development of energy-efficient air conditioners to curb the rising carbon emission levels is another prominent aspect projected to fuel the market growth across the country through 2028, reveals MarkNtel Advisors in their research report, "GCC Air Conditioner Market Analysis, 2023."
The leading players in the GCC Air Conditioner Market are LG Electronics, S.K.M. Air Conditioning, Carrier Corporation, Gree, Samsung, Daikin Industries, Mitsubishi, Trane Inc., Johnson Controls Inc., and Zamil Air Conditioners Holding Co. Ltd.
Key Questions Answered in the Research Report