Middle East Air Conditioner Market Outlook to 2027 – Players Include Carrier, Daikin Industries and LG Electronics Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Middle East Air Conditioner Market Outlook (2021-2027): Market Forecast By Types, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner, By Application, By Countries And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
According to this report the Middle East Air Conditioner Market size is projected to grow at a CAGR of 3.8% during 2021-2027. The major driver of the Middle East air conditioner industry can be attributed to wide application of centralized air conditioners to upcoming commercial and retail sector projects such as King Abdullah Economic City project in Saudi Arabia, Khalifa Industrial Zone in Abu Dhabi, Al-Mutlaa City in Kuwait and other developmental projects.
Companies Mentioned
- Carrier Corporation
- Daikin Industries Ltd.
- Fujitsu General Ltd.
- Gree Electric Appliances Inc.
- Johnson Controls International PLC
- LG Electronics Inc.
- Mitsubishi Electric Corporation
- Refrigeration Industries Co.
- S.K.M Air Conditioning Ltd.
- Trane Inc.
Middle East Air Conditioner Market Synopsis
The Middle East air conditioner market witnessed a decent growth during the period 2017-2019 underpinned by rapid growth in infrastructure development and rising urbanization in the country. However, the Covid-19 pandemic brought a decline in market revenues during the year 2020 as the movement restrictions imposed during the pandemic period disrupted the supply chain and halted the construction activities leading to fall in market demand and hence the market revenues.
Market by Types Analysis
Centralized air conditioners garnered 57.3% revenue share in 2020 in the Middle East air conditioner market owing to its application in large commercial spaces such as malls, large offices, large scale industries and many others. Increasing demand for retail and office space over the last few years, coupled with upcoming events such as Dubai Expo 2020 and FIFA 2022 has propelled large scale construction activities in the commercial sector of the region. Projects such as Dubai Hills & Meydan One mall in Dubai, Al Qana project and Mina Zayad redevelopment project in Abu Dhabi, are going to drive the market of centralized air conditioner in the region.
Market by Country Analysis
Among all the countries of the Middle East, Saudi Arabia acquired the 37.2% market revenue share for the year 2020 and the same trend is expected in the forecast period on account of large-scale construction projects being carried out in the country. The country ranked first in the region in terms of value of the construction projects awarded in 2019 which amounted to ~$52 billion. In 2020, the value of construction project awarded reduced to $20 billion due to ongoing pandemic. However, Saudi Arabia accounted for ~55% of the overall worth of projects awarded in the region during the first quarter of 2021, which shows signs of recovery in the country. Hence, rising construction activities in the country is expected to generate the demand for air conditioners in the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of the Report
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3. Middle East Air Conditioner Market Overview
3.1 Middle East Air Conditioner Market Revenues (2017-2027F)
3.2 Middle East Air Conditioner Market-Industry Life Cycle
3.3 Middle East Air Conditioner Market-Porter’s Five Forces
3.4 Middle East Air Conditioner Market Ecosystem
3.5 Middle East Air Conditioner Market Revenue Share, By Types (2020 & 2027F)
3.6 Middle East Air Conditioner Market Revenue Share, By Applications (2020 & 2027F)
3.7 Middle East Air Conditioner Market Revenue Share, By Countries (2020 & 2027F)
4. Impact Analysis of Covid-19 on Middle East Air Conditioner Market
5. Middle East Air Conditioner Market Dynamics
5.1 Impact Analysis
5.2 Market Drivers
5.3 Market Restraints
6. Middle East Air Conditioner Market Trends & Evolution
7. Saudi Arabia Air Conditioner Market Overview
8. UAE Air Conditioner Market Overview
9. Qatar Air Conditioner Market Overview
10. Kuwait Air Conditioner Market Overview
11. Oman Air Conditioner Market Overview
12. Bahrain Air Conditioner Market Overview
13. Middle East Air Conditioner Market Import vs Domestic Analysis (2020)
14. Middle East Air Conditioner Market Competitive Landscape
15. Company Profiles
16. Key Strategic Recommendations
17. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/yumnrj
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