Rising construction activities coupled with increasing investment due to upcoming World Expo 2020 has been the key macro drivers of growing UAE Air Conditioner Market. Some of the factors fuelling the market include airport metro expansion and growing hospitality sector.
According to 6wresearch, UAE Air Conditioner Market is estimated to touch $1,019 Million in 2015. During the period of 2010 -12, the UAE Air Conditioner Market witnessed sluggish demand owing to weak economic conditions, declining US Dollars, weakening oil prices, and lethargic investments in the country. However, in 2013, the market bounced back only to get flat in 2014. The market is expected to register similar trend in 2015.
Over the next six years, optimum growth of air conditioning systems would be exhibited on account of more than $120 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 would emerge as a major driving factor for increasing investment in UAE construction market. UAE is expected to witness ~25 Million of visitors during the event which would likely be a key factor in spurring the major construction projects such as public infrastructure, hospitality, transportation, leisure & entertainment and retail”.
He further commented, “Tremendous growth is expected particularly in the areas of hospitality, transportation and leisure & entertainment. UAE is anticipated to witness the development of ~140 new hotels by 2016 which is expected to fuel the demand of Air Conditioner in the region”.
“Centralized Air Conditioner Market captures the majority of the market share, in terms of revenue, in the overall air conditioner market. Growth in Mega Infrastructures would be the key driver in further increasing the market share of centralized air conditioner market in the forecast period as well”, Avishrant concluded.
UAE Air Conditioner Market is highly fragmented with the demand is currently met by large number of local and international players. Major players in UAE Air Conditioner Market include Carrier, York, LG, Trane, Zamil, Fujitsu General, Daikin, and Samsung.
“UAE Air Conditioner Market (2015-2021)” features in-depth analysis with 47 figures and 14 tables covered in more than 120 pages. The report include historical and forecast estimations for overall UAE air conditioner 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 provides insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.
6Wresearch regularly tracks air conditioner market and has been publishing report across various emerging market and countries in Asia and Middle East and Latin America.