Chillers are machines used for cooling purposes as they remove heat from a liquid through vapor-compression. GCC Chillers Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of GCC Chillers market consisting of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Market Segmentation
Absorption Chillers Accounted for Significant Market Share
Based on Compressor Type, Absorption Chillers accounted for significant market share in the GCC Chillers market in the previous few years. Absorption Chillers consume only 5-10% electric power, thus becoming an efficient solution when there is an electric power shortage. Besides this, the increasing number of customers toward solar-powered absorption chiller due to the extreme weather conditions, the deployment of these chillers is mostly in buildings with heated swimming pools and hospitals. Therefore, this is likely to drive the growth of the GCC Chillers Market in the future, reveals MarkNtel Advisors in their research report, "GCC Chillers Market Analysis, 2021."
Market Opportunities
According to MarkNtel Advisors' research report "GCC Chillers Market Analysis, 2021," the GCC Chillers market is likely to grow at a CAGR of around 6% during 2021-2026. The surging inclination toward district cooling to reduce the electricity consumption and increasing integration of district cooling in the various mega project is propelling the adoption of chillers in the region. The burgeoning spending toward commercial, transportation, and residential construction, rapidly growing hospitality sector on account of tourists, and snowballing inclination of millennials toward consuming frozen foods are factors leading to the market growth in the forecast period.
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable market share in the GCC Chillers Market are Daikin Middle East & Africa FZE, Johnson Controls, SKM Air Conditioning LLC, Petra Engineering Industries Company, Midea Group, Gami Air Conditioners Manufacturing Company LLC, Zamil Air conditioners, Smart Chiller Group FZE, Dunham-Bush, Carrier Corporation, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What are historical, base, and forecast years considered in the research report on the GCC Chillers Market?
The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
The measuring units of market size/industry size or the market value are USD Million.
Q. What would be the growth rate or CAGR of the GCC Chillers Market during 2021-2026?
The growth rate of the GCC Chillers Market during 2021-2026 is forecast to grow at a CAGR of 6% through 2026.
Q. Who are the key competitors or players operating in GCC Chillers Market?
Daikin Middle East & Africa FZE, Johnson Controls, SKM Air Conditioning LLC, Petra Engineering Industries Company, Midea Group, Gami Air Conditioners Manufacturing Company L.L.C., Zamil Air conditioners, Smardt Chiller Group FZE, Dunham-Bush, and Carrier Corporation are a few leading players in the GCC Chillers Market.
Q. Which end-user segment would emerge as an opportunity area for players in the GCC Chillers Market?
The hospitality segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in GCC Chillers Market?
UAE continues to grow at the highest CAGR, thereby offering immense opportunities to market players of GCC Chillers Market.
