Iran is the second largest economy after Saudi Arabia and is one of the most untapped markets in Middle-East region. With the removal of US sanctions, Iran is now offering immense business opportunities across various industries. Iran being the most populated country in the Middle-East region is anticipated to provide significant demand for air conditioning systems with expected rise in per capita income in the coming years.
According to 6Wresearch, Iran air conditioner market is forecast to grow at a CAGR of 9.3% during 2015-21. Iran air conditioners market is majorly dominated by international players, which accounts for a significant share of the market. However, there are local players, which are providing domestically manufactured air conditioners in the country.
Increasing urban agglomeration and ease in government policies to attract investors would drive the establishment of new industries and business hubs in the country. These developments would spur the construction of new infrastructures, thereby creating demand for air conditioners.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, “ With changing political environment and rising investor confidence, air conditioner market is expected to grow especially in the areas of residential, government & transportation, manufacturing, energy, retail and hospitality.”
Unlike other major Middle-East countries, there are as such no government regulations pertaining to air conditioning systems. However, with the rise in energy consumption and introduction of energy efficient regulations in the coming years, demand for energy compliant air conditioners would surge.
In Iran’s market, ducted, mini-split, centralized, and packaged air conditioners would witness majority of the market demand through the forecast period, where significant growth would be exhibited from residential and commercial segments, “Avishrant further added.
International players in Iran are operating through dealers and distributors. Few of the international players in Iran’s air conditioner market include- Daikin, LG, Samsung, Hisense and Midea.
“Iran Air Conditioners Market (2015-2021)” provides in-depth analysis with 39 figures and 13 tables covered in more than 100 pages. The report estimates and forecast overall Iran air conditioners market by revenue, by types of air conditioner and end user applications such as residential, government & transportation, energy & mining, manufacturing and others. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.