Kuwait Air Conditioners (AC) Market (2016-2022)-6Wresearch
Posted On: 17-02-2020
The market for air conditioners in Kuwait has registered stagnant growth in the last few years and is anticipated to remain flat during 2016-22. Further, with falling international oil prices effect on the government investments and infrastructure development can be witnessed in the country. Post-2017, oil prices are expected to recover which would add to the growth of both public & private infrastructures thereby driving the momentum of the air conditioners market in Kuwait.
According to 6Wresearch, the Kuwait air conditioners market is forecast to grow at a CAGR of 4.45% during 2016-22. Kuwait's government has planned to build its infrastructures through public-private partnerships (PPPs) with an investment of $116 billion, which are expected to be invested in the next five years.
According to Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch, "in overall Kuwait's air conditioner market, centralized air conditioner segment has captured major share of the market pie and is expected to maintain its market leadership throughout the forecast period.
Over the next six years, the ducted air conditioners segment is exhibited to grow at the fastest growth rate attributed to the demand for ceiling concealed and rooftop packaged units," Rajat further added.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch," expansion of the airport and develop a metro network are the key planned public infrastructure projects, wherein for the construction of metro alone around $20 billion would be spent.
Moreover, a new city has been proposed known as "Silk City" with an investment of $94 billion, which would host new airports, business centers, housing societies, and tourist attractions. These infrastructure expansion activities are expected to fuel the market for air conditioners in Kuwait", Avishrant concluded.
The key players in Kuwait's air conditioners market are namely- York, SKM, Carrier, Trane, Daikin, LG, RIC, LG, Samsung, Gree, and Fujitsu General.
"Kuwait Air Conditioners Market (2016-2022)" provides in-depth analysis with 43 figures and 16 tables covered in more than 120 pages. The report estimates and forecasts overall Kuwait air conditioners market by revenue, volume, types of air conditioners, and end-user applications such as residential, healthcare, retail & commercial offices, oil & gas, government & transportation, hospitality, and others. The report also gives insights on market share by companies, company profiles, market drivers, and restraints.
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