GCC Air Conditioner

GCC Air Conditioner Market Research Report: Forecast (2022-27)

By Type (Window AC, Split AC, Floor Standing AC, Cassette AC, Packaged AC, Ducted Split AC, Centralized AC), By End-User (Residential, Commercial Buildings, Retail, Health Care, Hospitality, Governmen Read more

  • Environment
  • Dec 2019
  • 157
  • ET33003

Market Definition

Nowadays, air conditioners have become a necessity more than a luxury, especially across the GCC, majorly due to the improving economic conditions, growing purchasing power of people, and changing living standards. It has immensely surged the demand for air conditioners across sectors like residential, commercial, industrial, etc. Moreover, their easy availability on different platforms, such as exclusive dealerships, e-commerce stores, social media sites, etc., is further contributing to their increasing production & sales across many GCC countries.

Market Insights

The GCC Air Conditioner Market is projected to grow at a CAGR of around 5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by rapid infrastructural development projects across different countries in the GCC region due to the mounting focus on the diversification of the economy away from oil, i.e., leading to massive investments in construction activities across the residential, commercial, industrial, healthcare, & hospitality sectors.

It, in turn, is projecting a growing demand for air conditioners across facilities to create a comfortable environment for people. Besides, the mounting greenfield investments across GCC playing a crucial role in boosting the construction industry are also positively influencing the air conditioner market. 

Report Coverage Details
Study Period (2022-2027) Historical Data: 2017-2020
Base Year: 2021
Forecast Period: 2022-27
CAGR(2022-27) 5%
Key Companies Profiled LG Electronics, S.K.M. Air Conditioning, Carrier Corporation, Gree, Samsung, Daikin Industries, Mitsubishi, Trane Inc., Johnson Controls Inc., Zamil Air Conditioners Holding Co. Ltd., Others
Unit Denominations USD Million/Billion

 

Moreover, the exponentially rising population and the surging influx of tourists & migrants in many GCC countries are stimulating rapid developments across the commercial & residential sectors for better hospitality and, in turn, propelling the sales of air conditioners.

Furthermore, the increasing construction of smart cities and the growing adoption of facility management services are other prominent aspects projecting an optimistic prospect for the GCC Air Conditioner Market through 2027.

Impact of Covid-19 on the GCC Air Conditioner Market

The Covid-19 pandemic in 2020 had a decelerating impact on most industries across the GCC, where the Air Conditioner Market was no exception. With the imposition of stringent movement restrictions & frequent lockdowns by governments of different countries in the region to curb the spread of this dreadful disease, the leading players in the market witnessed several unprecedented challenges associated with the development & distribution of air conditioners.

Since most operations were suspended, the demand for air conditioners observed a severe decline across commercial, industrial, corporate, and manufacturing sectors. Besides, the market players faced several challenges like disruptions in the supply chain of raw materials, labor shortage, delayed deliveries, reduced production, etc., which caused them significant financial losses.

However, as most industries adopted work-from-home policies, the market observed a temporary hike across the residential sector during the pandemic. Nonetheless, with the gradually declining Covid-19 cases, the governments of different countries across the GCC uplifted the restrictions and allowed the recommencement of business operations.

As a result, presently, companies are seeking growth opportunities to expand their production capacities to meet the burgeoning end-user requirements for air conditioners and recover from the financial losses that occurred amidst the lockdown.

Market Segmentation

Based on End-Users:

  • Residential
  • Commercial Buildings
  • Retail
  • Health Care
  • Hospitality
  • Government & Transportation
  • Oil & Gas

Amongst all end-users, the commercial sector is projected to dominate the GCC Air Conditioner Market with the largest share during 2022-27. It owes principally to the increasing establishment of several multinational companies & start-ups in the region due to favorable government policies for attracting Foreign Direct Investments.

It is leading to the development of more & more corporate spaces and a burgeoning need for facility management services, which, consequently, is positively influencing the sales of air conditioners. Besides, the growing focus of governments of different regional countries on infrastructural developments, i.e., leading to the development of various facilities like airports, metros & railways, educational institutes, shopping malls, etc., is also surging the demand for air conditioners across the commercial sector and fueling the overall market growth.

On the other hand, the Hospitality sector is expected to witness the fastest market growth in the coming years, owing principally to the rapidly expanding tourism sector, leading to increasing developments of hotels, resorts, & other such facilities. It, in turn, is soaring the demand for air conditioners to enhance the hospitability services for people and projecting lucrative growth opportunities for the market through 2027.

Country Landscape

Geographically, the GCC Air Conditioner Market expands across:

  • Saudi Arabia
  • UAE
  • Qatar
  • Bahrain
  • Kuwait
  • Oman

Of all countries across GCC, the UAE is likely to dominate the Air Conditioner Market with the largest share during 2022-27. It attributes principally to the increasing government support through favorable policies & initiatives for the market players to manufacture energy-efficient air conditioners equipped with advanced technologies.

Moreover, the growing establishment of multinational companies & start-ups across the UAE entwined with the massive tourist influx is further augmenting the demand for air conditioners across the commercial, corporate, & hospitality sectors and, in turn, fueling the market growth across the country.

In addition, since the UAE hosts major events and has projects like Dubai Tourism Strategy & Higher Education 2030, the commercial sector in the country is swiftly expanding and observing massive government funding in transportation & connectivity. Hence, it shall also play a crucial role in propelling the air conditioners market in the UAE over the forecast years.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the GCC Air Conditioner Market?
  2. What are the country-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the GCC Air Conditioner Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the GCC Air Conditioner Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the GCC Air Conditioner Market study?

Frequently Asked Questions

A. The GCC Air Conditioner Market is projected to grow at a CAGR of around 5% during 2022-27.

A. The growing government focus on developing the commercial & hospitality sectors is the key growth opportunity projected to drive the GCC Air Conditioner Market through 2027.

A. The active participation of the leading players in manufacturing smart & energy-efficient air conditioners is the emerging trend in the GCC Air Conditioner Market.

A. The commercial sector is anticipated to emerge as an area of remunerative opportunities for the leading players in the GCC Air Conditioner Market over the coming years.

1.     Introduction

1.1.   Product Definition

1.2.   Research Process

1.3.   Assumptions

1.4.   Market Segmentation

2.     Executive Summary

3.     Expert Verbatim- What our Experts Say?

4.     Macroeconomic Outlook

5.     GCC Air Conditioner Market Analysis (2017-2027F)

5.1.   Market Size & Analysis

5.1.1. Market Revenues

5.2.   Market Share & Analysis

5.2.1. By Type

5.2.1.1.  Window AC

5.2.1.2.  Split AC

5.2.1.3.  Floor Standing AC

5.2.1.4.  Cassette AC

5.2.1.5.  Packaged AC

5.2.1.6.  Ducted Split AC

5.2.1.7.  Centralized AC

5.2.2. By Country

5.2.2.1.  Saudi Arabia

5.2.2.2.  UAE

5.2.2.3.  Qatar

5.2.2.4.  Bahrain

5.2.2.5.  Kuwait

5.2.2.6.  Oman

5.2.3. By End User

5.2.3.1.  Residential

5.2.3.2.  Commercial Buildings

5.2.3.3.  Retail

5.2.3.4.  Health Care

5.2.3.5.  Hospitality

5.2.3.6.  Government & Transportation

5.2.3.7.  Oil & Gas

5.2.3.8.  Others

       5.2.4. By Sales Channel

5.2.4.1.  Direct Sales

5.2.4.2.  Online

5.2.4.3.  Authorized Distributors

       5.2.5. By Company

5.2.5.1 Revenue Shares

5.2.5.2.  Strategic Factorial Indexing

5.2.5.3.  Competitor Placement in MarkNtel Quadrant

6.     GCC Window Air Conditioner Market Attractiveness Indexing

     6.1. By Type

     6.2. By Country

     6.3. By End User

     6.4. By Capacity

     6.5. By Sales Channel

7.     GCC Window Air Conditioner Market Analysis (2017- 2027)

7.1.   Market Size & Analysis

7.1.1. Market Revenues

7.2.   Market Share & Analysis

7.2.1. By Capacity

7.2.1.1.  1 ton

7.2.1.2.  1.5 ton

7.2.1.3.  2 ton & above

7.2.2. By Country

7.2.3. By End User

7.2.4. By Company

7.2.5. By Sales Channel

7.3.   Pricing Analysis

7.3.1. Price Trend

7.3.2. Competitor Wise Product Pricing

7.4.   GCC Window Air Conditioner Market Attractiveness Indexing (2017-27)

7.4.1. By Country

7.4.2. By End User

7.4.3. By Capacity

7.4.4. By Sales Channel

8.     GCC Split Air Conditioner Market Analysis (2017- 2027)

8.1.   Market Size & Analysis

8.1.1. Market Revenues

8.2.   Market Share & Analysis

8.2.1. By Capacity

8.2.2. By Country

8.2.3. By Company

8.2.4. By Sales Channel

8.3.   Pricing Analysis

8.3.1. Price Trend

8.3.2. Competitor Wise Product Pricing

8.4.   GCC Split Air Conditioner Market Attractiveness Indexing (2017-27)

8.4.1. By Country

8.4.2. By End User

8.4.3. By Capacity

8.4.4. By Sales Channel

9.     GCC Floor Mounted Air Conditioner Market Analysis (2017- 2027)

9.1.   Market Size & Analysis

9.1.1. Market Revenues

9.2.   Market Share & Analysis

9.2.1. By Capacity

9.2.2. By Country

9.2.3. By End User

9.2.4. By Company

9.2.5. By Sales Channel

9.3.   Pricing Analysis

9.3.1. Price Trend

9.4.   GCC Floor Mounted Air Conditioner Market Attractiveness Indexing (2017-27)

9.4.1. By Country

9.4.2. By End User

9.4.3. By Capacity

9.4.4. By Sales Channel

10.  GCC Cassette Air Conditioner Market Analysis (2017- 2027)

10.1.  Market Size & Analysis

10.1.1.   Market Revenues

10.2.  Market Share & Analysis

10.2.1.   By Capacity

10.2.2.   By Country

10.2.3.   By End User

10.2.4.   By Company

10.2.5.   By Sales Channel

10.3.  Pricing Analysis

10.3.1.   Price Trend

10.4.  GCC Cassette Air Conditioner Market Attractiveness Indexing (2017- 2027)

10.4.1.   By Country

10.4.2.   By End User

10.4.3.   By Capacity

10.4.4.   By Sales Channel

11.  GCC Packaged Air Conditioner Market Analysis (2017- 2027)

11.1.  Market Size & Analysis

11.1.1.   Market Revenues

11.2.  Market Share & Analysis

11.2.1.   By Country

11.2.2.   By End User

11.2.3.   By Company

11.2.4.   By Sales Channel

11.3.  Pricing Analysis

11.3.1.   Price Trend

11.4.  GCC Packaged Air Conditioner Market Attractiveness Indexing (2017-27)

11.4.1.   By Country

11.4.2.   By End User

11.4.3.   By Sales Channel

12.  GCC Ducted Split Air Conditioner Market Analysis (2017- 2027)

12.1. Market Size & Analysis

12.1.1.   Market Revenues

12.2. Market Share & Analysis

12.2.1.   By Country

12.2.2.   By End User

12.2.3.   By Company

12.2.4.   By Sales Channel

12.3.  Pricing Analysis

12.3.1.   Price Trend

12.4.  GCC Packaged Air Conditioner Market Attractiveness Indexing (2017-27)

12.4.1.   By Country

12.4.2.   By End User

12.4.3.   By Sales Channel

13.  GCC Centralized Air Conditioner Market Analysis (2017- 2027)

13.1. Market Size & Analysis

13.1.1.   Market Revenues

13.2. Market Share & Analysis

13.2.1.   By Type

13.2.1.1.       Chiller

13.2.1.2.       Condensing Unit/VRF

13.2.1.3.       AHU/FCU

13.2.2.   By Country

13.2.3.   By End User

13.2.4.   By Company

13.2.5.   By Sales Channel

13.3.GCC Centralized Air Conditioner Market Attractiveness Indexing (2017-27)

13.3.1.   By Country

13.3.2.   By End User

13.3.3.   By Capacity

13.3.4.   By Sales Channel

14.  PESTLE Analysis

15.  GCC Air Conditioner Market Regulations, Norms, & Product Standards

16.  GCC Air Conditioner Market Trends & Developments

17.  GCC Air Conditioner Market Dynamics

17.1. Impact Analysis

17.2. Drivers

17.3. Challenges

18.  GCC Air Conditioners Imports, Exports Statistics

19.  GCC Air Conditioners Market Winning Strategies, 2017

19.1. Investment Scenario

19.2. Hotspots

20.  GCC Air Conditioners Value Chain & Stakeholder Margin Analysis

21.  Competitive Benchmarking

21.1. Competition Matrix

21.1.1. Product Portfolio

21.1.2. Target Markets

21.1.3. Target End Users

21.1.4. Research & Development

21.1.5. Strategic Alliances

21.1.6. Strategic Initiatives

21.2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)

21.2.1.   LG Electronics

21.2.2.   S.K.M. Air Conditioning

21.2.3.   Carrier Corporation

21.2.4.   Gree

21.2.5.   Samsung

21.2.6.   Daikin Industries

21.2.7.   Mitsubishi

21.2.8.   Trane Inc.

21.2.9.   Johnson Controls Inc.

21.2.10. Zamil Air Conditioners Holding Co. Ltd.

22.  Disclaime

GCC Air Conditioner Market Segmentation