The UAE Air Conditioner Market is expecting around 4% CAGR during 2023-28, states MarkNtel Advisors in their recent research report. It attributes primarily to the rapidly increasing number of construction projects for corporate offices, residential complexes, hotels, healthcare facilities, and educational institutions, among others, due to the growing government focus on economic diversification away from the oil sector. It, in turn, is demonstrating an escalating demand for air conditioners to facilitate these infrastructures with cool temperatures.
Besides, the rapidly booming tourism industry of the country is another prominent aspect instigating the UAE government to build hotels, resorts, etc., and air conditioner manufacturers to increase their production capacities & meet the burgeoning consumer requirements. As a result, the hospitality sector is projected to be a prominent contributor to the expansion of the Air Conditioner Market in the UAE.
Moreover, swiftly improving economic conditions and growing purchasing power of the people in the UAE are other crucial aspects projected to fuel the demand for air conditioners across the country during 2023-28, further states the research report, “UAE Air Conditioners Market Analysis, 2023.”
With Growing Construction Projects, the Commercial Sector to Significantly Boost the Market
To boost the tourism sector, constructions of hotels, resorts, corporate offices, shopping malls, airports, educational institutions, etc., in the UAE, i.e., also in line with UAE's initiative of economic diversification away from oil, is the prime aspect driving the market across the country's commercial sector.
It, in turn, is expected to propel the demand for air conditioners at such facilities & augment the overall market growth in the coming years. Besides, the rapidly growing commercial construction activities owing to the government support through initiatives like Dubai Tourism Strategy & Higher Education 2030, among others, would also play a crucial role in driving the market across the commercial sector through 2028.
Abu Dhabi & Al Ain to Contribute Notably to the Air Conditioner Market through 2027
Of all cities in the UAE, Abu Dhabi & Al Ain are likely to generate lucrative growth opportunities for the Air Conditioners Market during 2023-28. It attributes principally to the growing establishment of corporates, an increasing number of migrant footfall, and a swiftly expanding tourism sector in the city due to government initiatives like the Abu Dhabi 2030 plan. It is demonstrating a growing demand for air conditioners at such facilities, and is anticipated to augment the overall market growth in the coming years, reveals MarkNtel Advisors in their research report, "UAE Air Conditioner Market Analysis, 2023."
According to MarkNtel Advisors, the leading players in the UAE Air Conditioner Market are LG Electronics, Fujitsu General, Carrier, Gree, Samsung, Daikin, Mitsubishi, SKM, Midea, & Super General.
Key Questions Answered in the Study