Unlike other GCC countries, Kuwait’s air conditioner market is growing at flat growth rate. Uncertainty of projects and political conditions have affected the growth of construction industry in the country. However, in the coming years, the scenario is exhibited to change as many public and private infrastructures are expected to come up.
According to 6Wresearch, Kuwait air conditioners market is forecast to grow at a CAGR of 4.17% during 2015-21. Government of Kuwait has planned to expand airport, develop metro network and build new residential societies, which would add to the growth of air conditioners market in Kuwait. To construct metro line, around $20 billion would be invested. A new city has been proposed known as “Silk City” with an estimated investment of ~$94 billion. The city would cite new airport, business centers, housing societies, and tourist attractions. These infrastructure expansion activities are expected to fuel the demand for air conditioners in the country.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, “Changing political environment and increasing government focus towards building infrastructures with the private players, would boost investor confidence in the long run. To provide ambient temperature in these infrastructures, deployment of air conditioning units would be witnessed on a larger scale.
Kuwait air conditioners market is controlled by international players. Players such as York, SKM, Carrier, and Trane have contributed for the growth of the market. Residential sector has witnessed highest demand for air conditioners and this demand is further projected to grow with increase in number of housing projects in the country”, Avishrant further added.
“Kuwait Air Conditioners Market (2015-2021)” provides in-depth analysis with 47 figures and 16 tables covered in more than 120 pages. The report estimates and forecast overall Kuwait air conditioners market by revenue, volume, types of air conditioner and end user application such as residential, retail, banking, healthcare, commercial offices, government & transportation, hospitality and others. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.
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Kuwait Air Conditioners Market (2015-2021)