GCC Air Conditioner Market (2017-2023): Market Forecast by Air Conditioners Types (Window AC, Split AC, Ceiling Concealed/ Ducted Split, Packaged AC, Suspended AC, Floor Standing AC, Cassette AC and Centralized AC (Chiller, VRF, Condensing Unit and AHU/FCU)), Applications (Residential, Hospitality, Healthcare, Commercial Buildings & Retail, Government & Transportation, Oil & Gas and Others) and Countries (Saudi Arabia, UAE, Oman, Qatar, Kuwait and Bahrain)
GCC is one of the most potential markets in Middle-East region across major industry verticals. Majority of the government revenues in GCC countries are predominantly derived from oil & gas sector, where these revenues are utilized for development activities. Over the past decade, GCC region exhibited surge in government spending towards construction industry. Although, during 2014-16, GCC countries registered a prolonged oil price slump and has indubitably affected their economies resulting into sharp decline in government spending towards construction industry. Declining construction industry recorded major drop in project value for new contracts during the same period. Construction industry has played a vital role in overall shaping air conditioner market in GCC region. Due to weakening construction industry, air conditioner market witnessed negative growth rate during 2014-16. However, in the coming years, air conditioner market is projected to grow in GCC countries owing to recovering of oil prices.
According to our research, GCC Air Conditioner Market is projected to grow at a CAGR of 7.3% during 2017-2023. Saudi Arabia and UAE are the key revenue generating countries in the entire GCC region. Centralized air conditioner market accounted for major revenue share in the overall market in 2016, with Saudi Arabia being the largest contributor.
Centralized air conditioner market is exhibited to maintain its dominance throughout the forecast period. Split air conditioner market has also captured key share in the overall GCC’s air conditioner market due to high demand from residential and light commercial applications. Also, VRF market is expanding in the region owing to high efficiency feature which helps to consume less energy and reduce the electricity bill.
GCC Air Conditioner Market (2017-2023) provides in-depth analysis with 382 figures and 66 tables covered in more than 450 pages. The report thoroughly covers the GCC Air Conditioner market by types, applications, and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
- Historical & Forecast data of the UAE Air Conditioner Market Revenues for the period 2014-2023F.
- Historical & Forecast data of the UAE Air Conditioner Market Revenue, by Type for the period 2014-2023F.
- Historical & Forecast data of the UAE Air Conditioner Market Revenue, by End User Application for the period 2014-2023F.
- Historical & Forecast data of the Saudi Arabia Air Conditioner Market Revenues for the period 2014-2023F.
- Historical & Forecast data of the Saudi Arabia Air Conditioner Market Revenue, by Type for the period 2014-2023F.
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