Market Overview
Air conditioners are machines that remove warm air from a defined area and replace it with cooler air through a refrigeration cycle. Air conditioners (ACs) have several applications ranging from residential buildings, malls, & office spaces to theatres. They have played a key role in changing the indoor environment across many countries, particularly Qatar, owing to its hot & arid climate.
Market Insights
The Qatar Air Conditioner Market is projected to grow at a CAGR of around 5.0% during the forecast period, i.e., 2023-28. Owing to Qatar's hot & arid climate, Air conditioners have become an integral part of the country's infrastructure. When paired with the soaring economy of the nation, the demand for ACs is likely to witness optimistic growth over the coming years. The market is driven primarily by the increasing influx of tourists, pilgrims, & migrants in Qatar, instigating the government to fund construction projects. As a result, expanding hotels, resorts, airports, shopping malls, stadiums, auditoriums, malls, metros & railway stations, etc., directly impact the demand for air conditioners across the country.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 5.0% |
| Key Companies Profiled | LG Electronics, Fujitsu General, Carrier, Daikin Industries, York, Samsung, Gree, Mitsubishi, Midea, Toshiba |
| Unit Denominations | USD Million/Billion |
Moreover, Qatar is witnessing the massive establishment of multinational companies & start-ups, instigating the demand for AC-equipped corporate facilities with favorable policies to attract Foreign Direct Investments (FDIs), further propelling the industry. The government is actively encouraging the industry players to develop & distribute energy-efficient air conditioners with lower power consumption & carbon emissions, citing deteriorating environmental conditions across the country. Furthermore, various innovations in the Heating, Ventilation & Air Conditioning (HVAC) infrastructure & facility management services shall also play a crucial role in augmenting the growth of the air conditioner market in Qatar through 2028.
Market Dynamics
Key Driver: Augmenting Need for Architectural Optimization and Targeted Cooling
With the adverse climatic conditions paired with swiftly improving economic conditions, growing purchasing power, and changing living standards of people, the production & sales of air conditioners are mounting swiftly across the country. Moreover, the rapidly developing smart cities, coupled with the active participation of the leading players in bringing energy-efficient air conditioners, are other crucial aspects projected to play a pivotal role in fueling the overall market growth. For instance, On November 20, 2022, the FIFA World Cup of 2022 kicked off in Qatar as the season's first temperatures began to drop. The Gulf will most certainly still experience temperatures that go up to 26 degrees Celsius. Thus, brand-new, eight fully conditioned stadiums were unveiled in Qatar. The stadiums contain cutting-edge cooling equipment to lower the temperature to a comfortable 18 to 24 degrees Celsius.
