Bahrain has the smallest economy amongst all GCC countries and is one of the most untapped markets. Though, affected by civil unrest, the country is offering significant growth opportunities in various sectors due to rising infrastructures. The initiative taken by the governing bodies to reduce the dependency on oil is enabling the entry of new industries and foreign players in the country.
According to 6Wresearch, Bahrain’s air conditioner market is forecast to grow at a CAGR of 6.0% during 2015-21. Bahrain’s air conditioner market comprises of both local as well as international players. Though, market is dominated majorly by global players, but Bahrain has the potential to fulfil its air conditioner demand through its developing manufacturing sector. Awal Gulf is the key local player providing room, split and centralized air conditioners in the Bahrain market.
Some of the international players in the market include- York, Carrier, LG, Trane, Gree, Fujitsu General, Zamil, Dakin and Mitsubishi.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, “With the growing construction industry and government investments in large projects are creating the demand for air conditioning systems. Surge in infrastructures in the areas of residential, commercial, hospitality and government & transportation applications is significantly boosting the growth of the market.
Residential is the key consumer of air conditioners in the region, contributing highest revenue share in Bahrain’s air conditioner market. Bahrain is one of the fastest growing residential markets in the GCC region, where significant number of housing units are expected to come up in the coming years. With the ongoing construction of new cities such as East Hidd, East Sitra and Northern Town huge demand for air conditioning systems would be witnessed in the country, “Avishrant further added.
According to Sathi Paul, Research Associate, Research and Consulting, 6Wresearch, “Northern region of Bahrain is main revenue generator as the capital city Manama is situated in this region, where large number of projects have commissioned and are in the pipeline including mall, offices and factories which would spur the air conditioner in the country in future.
In Bahrain air conditioner market, split, centralized and packaged air conditioner would be witnessing growth during the forecast period. The revenue from centralized air conditioner segment would increase further due to construction of mega infrastructures. “Sathi Paul concluded.
“Bahrain Air Conditioners Market (2015-2021)” provides in-depth analysis with 50 figures and 14 tables covered in more than 100 pages. The report estimates and forecast overall Bahrain air conditioners market by revenue, by types of air conditioner and end user applications such as residential, government & transportation, retail, healthcare, commercial offices, BFSI and others. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.