Qatar air conditioner market is all set to witness high growth during 2015-21, owing to upcoming FIFA World Cup 2022. The country is renovating and building new stadiums and also would be installing very powerful air conditioners in entire stadiums to provide ambient temperature during the international sporting event.
According to 6Wresearch, Qatar Air Conditioner Market is projected to grow at a CAGR of 13.42% during 2015-21. The country has planned to build 8 new stadiums and upgrade 3 stadiums. Up-gradation and construction of new stadiums would create fresh demand for air conditioners in the country. Further, to accommodate the visitors visiting the country, construction of several new hotels have been planned.
For this event, more than $300 billion is expected to be invested in the country to build the supporting infrastructure. Mega construction activities in the areas of hospitality, retail, healthcare, transportation, and leisure & entertainment would create huge opportunities for air conditioner players in the country.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, “In the forecast period, the market is projected to grow on account of mega construction projects in Al-Daayen, Al-Khor, Al-Rayyan, Al-Shamal, Al-Wakrah, Doha and Umm Slal regions. Some of the key projects include- Airport City, New Doha Port, Doha Metro, Energy City and Msheireb Downtown Doha. These projects would add to the growth of centralized air conditioners.
High consumption of energy in Qatar has forced the government to put stringent regulations on air conditioners manufacturer to manufacture energy efficient air conditioner with minimum three stars rating feature. In Qatar, centralized and split air conditioners have driven the growth of the overall market; however, share of window air conditioner is expected to decline in the coming years,” Avishrant further added.
Amongst all the applications, residential application captured the largest share of market pie and is expected to maintain its market dominance through the forecast period; whereas, retail and hospitality applications are expected to witness key growth over the next six years.
“Qatar Air Conditioner (2015-2021)”provides in-depth analysis with 54 figures and 11 tables covered in more than 120 pages. The report estimates and forecast overall Qatar air conditioner market by revenue, by air conditioner types such as Window AC, Split AC, Ducted split AC, Packaged AC, Free Standing, Cassette AC and Centralized AC, end user applications and regions. The report also gives the insights on competitive landscape, market share by companies, company profile, market drivers and restraints.
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Qatar Air Conditioner (2015-2021)