Qatar Air Conditioner Market Research Report Forecast: (2023-2028)
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.
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.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|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.
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.
Growth Opportunity: Strengthening Hospitality Sector with Frequent Events and Expos
The burgeoning influx of tourists & migrants in the country augments the need for more hotels, restaurants, resorts, and shopping malls, consequently accelerating the demand for air conditioners. Besides, since the country hosts several expos and events every now-&-then, the government is actively enhancing the hospitality sector to expand tourism further. For instance, Qatar hosted the FIFA world cup 2022, and AIR2O cooling systems and HVAC technologies are being employed in the stadiums. In order to provide an energy-efficient 100% fresh air conditioning solution to maintain appropriate temperatures and humidity, AIR2O's flagship hybrid HVAC units were initially installed in the fan zone.
Key Trend: Introduction of Intelligent and Energy-Efficient Technologies in ACs
Many customers are switching to innovative, energy-efficient technologies to reduce energy consumption and improve sustainability. The built-in system has surpassed traditional systems in popularity because of its enhanced monitoring and smart thermostats, which provide better temperature fluctuation and cleaner air than older models. Additionally, a smartphone app allows customers to keep track of these systems' functioning in real time. These advantages have accelerated consumer demand for modern, energy-efficient air conditioners, expected to drive growth in the sector over the coming years.
Based on End-Users,
Amongst all end-users, the Commercial sector is anticipated to dominate the Qatar Air Conditioner Market with the largest share during the forecast period. It owes principally to the massive FDIs, leading to the surge in the number of multinational companies & start-ups in the country. It, in turn, is augmenting the demand for office spaces & facility management services and positively influencing the production & sales of air conditioners. Besides, the mounting government focus on infrastructural enhancements is portraying several construction projects related to the development & expansion of airports, metros & railway stations, centrally cooled stadiums & auditoriums, etc., and, in turn, propelling the demand for air conditioners across Qatar's commercial sector.
Nonetheless, the Residential sector shall emerge as an opportunity area for the leading players and contribute to the overall growth of the market in Qatar through 2027. It attributes principally to the rising government inclination toward developing numerous residential complexes across the country to habitat the burgeoning population, which, in turn, is augmenting the demand for air conditioners to enhance the living experience of people.
Based on Type,
Qatar is seeing a marked rise in demand for central air conditioners due to their remarkable benefits. The importance of centralized air conditioning in cooling indoor spaces, reducing moisture levels, and providing thermal comfort to inhabitants has increased its use in residential settings. Additionally, it provides a stable temperature, requires little periodic maintenance, and is simple to use due to the availability of a single control panel. Furthermore, these air conditioners offer possibilities for reducing space as they don't need ducts and merge the central heating and air systems into a single cabinet, doing away with the necessity for a separate interior furnace. Also, central ac with improved filters provide clean air.
Recent Developments in the Qatar Air Conditioner Market
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Frequently Asked Questions
A. The Qatar Air Conditioner Market is projected to grow at a CAGR of around 5.0% during 2023-28.
A. Augmenting need for architectural optimization and targeted cooling is likely to drive the market further during the projected time frame.
A. The prominent players anticipated to stiffen the competition across the country are LG Electronics, Fujitsu General, Carrier, Daikin Industries, York, Samsung, Gree, Mitsubishi, Midea, Toshiba.
A. Commercial Buildings is anticipated to emerge as an area of remunerative opportunities for the leading players in the Qatar Air Conditioner Market during the forecast period.
A. Introduction of intelligent and energy-efficient technologies in ACs is the significant trend projected to shape the Qatar Air Conditioner Market through 2028.
A. Strengthening hospitality sector with frequent events and expos is expected to present remunerative opportunities for the leading players in the Qatar Air Conditioner Market during the forecast period.