Increasing construction activities in the country with the expansion of airports, metros, growing hospitality sector coupled with increasing investments on account of upcoming World Expo 2020 are few of the factors which have resulted into the growth for air conditioners across UAE.
According to 6Wresearch, UAE air conditioners market is estimated to reach $1,019 million in 2015. During 2010-12, UAE air conditioners market recorded sluggish demand for air conditioners due to weaker economic conditions, depreciating US Dollars, declining oil prices, and low investments in the country. However, in 2013, the market recovered significantly but remained flat in 2014. A similar trend as to previous year is anticipated in 2015.
Over the next six years, descent growth of air conditioning systems would be witnessed owing to more than $200 billion investments, which would be invested to build new and expand various public and private infrastructures.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, "World Expo 2020 has emerged as the biggest growth driver of construction market in UAE. With 25 million visitors expected for the forthcoming event in the country- rise in public infrastructure, hospitality, transportation, leisure & entertainment and retail is anticipated."
Significant growth would be exhibited especially in the areas of hospitality, transportation and leisure & entertainment. By 2016, in UAE about 140 new hotels are expected to come up, which would boost the demand for air conditioners in the country.
"Centralized air conditioning systems have generated majority of the market revenues in UAE's air conditioner market. Rise in mega infrastructure would be the prime driver for further expansion of centralized air conditioner market share through the forecast period," Avishrant further added.
UAE air conditioners market is highly fragmented, where many local and international players are providing their products in the country. Some of the key players in the market include- Carrier, York, LG, Trane, Zamil, Fujitsu General, Daikin, and Samsung.
"UAE Air Conditioners Market (2015-2021)" provides in-depth analysis with 47 figures and 14 tables covered in more than 120 pages. The report estimates and forecast overall UAE air conditioners market by revenue, by types of air conditioner and end user application such as residential, hospitality, retail, healthcare, commercial offices, BFSI, government & transportation and others. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.
Media Source: ETURBONEWS