The growing initiatives by the governments to boost the infrastructure development in the countries is anticipated to positively impact the growth of GCC air conditioner market. The Saudi Vision 2030, UAE Vision 2021, Qatar National Vision 2030, etc., are some of the initiatives introduced by the countries, which highlights the importance of infrastructure thereby increasing the focus towards introducing new infrastructure projects in the country. Therefore, the arrival of new buildings in the country is anticipated to strongly contribute to the growth of GCC air conditioner market.
According to MarkNtel Advisors’ research report “GCC Air Conditioner Market Analysis, 2020”, the air conditioner market is projected to grow at a CAGR of around 5% during 2020-25. The economic diversification and introduction of new projects apart from oil & gas sector has increased the number of foreign investments in the countries. The total number of greenfield investments in Saudi Arabia reached 103 in 2018 from 89 in 2017. In addition, the total number of greenfield investments in Saudi Arabia increased from 330 in 2017 to 378 in 2018.
The integration of advanced technologies with air conditioner segment is projected to boost the growth of air conditioner market in the GCC region. The increasing utilization of smart devices in the countries has boosted the demand for smart air conditioners. In addition, the emergence of smart thermostat technology, smart equipment integration, and IoT technology are significantly expected to boost the market growth of smart air conditioners in the years to come, revealed by MarkNtel Advisors’ research report “GCC Air Conditioner Market Analysis, 2020”.
As per MarkNtel Advisors’ study, the residential, commercial & retail grabbed a substantial market share in the GCC air conditioner market in 2019. The increasing number of construction projects in the country for residential, corporate offices, retail malls, etc. would positively contribute to the surging demand for air conditioners. Moreover, the rising number of tourists in the country would surge the number of hotel keys in the GCC countries thereby boosting the growth of GCC air conditioner market. For instance: In 2019, Hilton and Shomoul Holding Co., signed a contract to build four new hotels in The Avenues- Riyadh.
GCC Air Conditioner Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for air conditioner firms across the globe. 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 competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Window, Split, Floor Standing, Cassette, Packaged, Ducted Split, Centralized)
2. By End Users (Residential, Healthcare, Commercial Buildings, Retail, Govt. & Transportation, Hospitality, Oil & Gas, Others)
3. By Geographic Region (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain)
4. By Competitors (Carrier Corporation, LG Electronics Inc., Johnson Controls Inc., Daikin Industries, Trane Inc., Gree, Others)
Key questions answered in the study:
1. What are the current and future trends of the GCC air conditioner market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the region?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the GCC air conditioner market?
6. What are the customer orientation, purchase behavior, and expectations from the air conditioner companies across various countries?