Press Release Description

Kuwait Vision 2035 to Strengthen the Air Conditioner Market

The government plans to diversify its oil-dependent economy and increase the foreign investments in the country. The gradually increasing greenfield investments in the country is anticipated to positively impact the demand for air conditioners in the country. Moreover, the government initiatives such as Kuwait Vision 2035 focuses on infrastructure development thereby strongly contributing to the growth of Kuwait air conditioner market, revealed by MarkNtel Advisors’ research report “Kuwait Air Conditioner Market Analysis, 2020”.  

According to MarkNtel Advisors’ research report “Kuwait Air Conditioner Market Analysis, 2020”, the air conditioner market is projected to grow at a CAGR of around 3% during 2020-25. The economic diversification and introduction of new projects apart from oil & gas sector has boosted the demand for air conditioners in the country. Moreover, the increasing number of tourists in the country is projected to positively impact the growth of hospitality sector. Hence, the establishment of new hotels in the country would surge the demand for air conditioners in the forthcoming period. 

As per MarkNtel Advisors’ study, the residential sector grabbed the highest market share in the Kuwait air conditioner market in 2019. There are various construction projects which are being introduced in the country. Under the Kuwait Vision 2035, two residential projects were introduced in 2019, which include South Sabah Al Ahmad residential city and South Saad Al Abdullah city. The projects are estimated to be completed by 2029. The surging residential projects are anticipated to positively impact the growth of Kuwait air conditioner market in the years to come.

The major players who has grabbed a considerable market share in the Kuwait air conditioner market include LG Electronics, Super General, Carrier, Samsung, Daikin, York, etc.

Kuwait 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.  

Industry Segmentation:

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 (Al Asimah, Al Farwaniya, Hawalli, Al Ahmadi, Al Jahra)
4. By Competitors (LG Electronics, Super General, Carrier, Samsung, Daikin, York, Others)

Key questions answered in the study:

1. What are the current and future trends of the Kuwait 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 country?
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 Kuwait air conditioner market?
6. What are the customer orientation, purchase behavior, and expectations from the air conditioner companies across various regions?

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