The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), GCC HVACR Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
GCC HVACR Industry Analytical Overview (2023-2028): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, GCC HVACR Market size is valued at around USD 6.2 billion in 2022 & is estimated to grow at a CAGR of about 5.32% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023 to 2028.
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What is Included in GCC HVACR Market Segmentation?
The report has segmented the market into the following categories:
By Type
– Window AC
– – Up to 1 Ton
– – 1.1 to 2 Ton
– – Above 2 Ton
– Split AC
– – Up to 1 Ton
– – to1.5 Ton
– – 1.6 to 2 Ton
– Floor Standing AC
– – Up to 2 Ton
– – Above 2 Ton
– Cassette AC
– Packaged AC
– Ducted Split AC
– Centralized AC
– – FCU/AHU
– – Chillers
– – VRF
– Refrigeration
By End User
– Residential
– Commercial Buildings
– Retail
– Healthcare
– Hospitality
– Government & Transportation
– Oil & Gas
– Industrial Facilities
– Other Developing Industries (Hydrofarms, etc.)
The residential sector accounted for a considerable market share owing to the mounting expansion of residential buildings in countries like the UAE, Saudi Arabia, etc., backed by the upgrade in the expatriate population. Further, governments have prioritized the development of more & more housing units for their employees, which would boost the demand for air conditioners in these countries.
By Sales Channel
– Direct Sales
– Online
– Authorized Distributors
By Country
– Saudi Arabia
– Oman
– Qatar
– Bahrain
– Kuwait
– The UAE
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Key Factor Driver GCC HVACR Industry Growth by 2028
Expansion of Tourism Sector to Augment the Market Growth – Tourism is one of the fastest-growing sectors in the GCC region. Countries like the UAE, Oman, and Saudi Arabia, actively encourage medical tourism, business & leisure travel, etc., by providing easy visa clearance, world-class hospitality services, etc. Consequently, there’s a mounting influx of foreign visitors to these countries. For instance, in 2022, the UAE welcomed nearly 14.36 million visitors, i.e., a rise of approximately 7.28 million visitors in 2021, and the hotel occupancy rate was more than 70% in 2022, cites the Dubai Department of Economy and Tourism.
Who are the Key Players Operating in the GCC HVACR Industry?
The top companies of the GCC HVACR market ruling the industry are:
- LG Electronics
- S.K.M. Air Conditioning
- Carrier Corporation
- Business Description
- Others
- Gree
- Samsung
- Daikin Industries
- Mitsubishi
- Trane Inc.
- Johnson Controls Inc.
- Zamil Air Conditioners Holding Co. Ltd.
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the GCC HVACR Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the GCC HVACR industry?
- Which is the Leading segment in the market?
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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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