GCC HVACR Market Share, Size and Growth Estimate 2023-2028 – A Latest Market Study Report by MarkNtel

A Comprehensive Research Report On GCC HVACR Market

The GCC HVACR Market is anticipated to grow at a CAGR of 5.32% during the years 2023-2028, cites the most recent research report published by MarkNtel Advisors regarding the GCC HVACR market that represents a comprehensive compilation of market analyses that intricately explore every facet and curve of the industrial landscape.

The research undertaking involves an extensive investigation that spans a multitude of dimensions. This includes in-depth production analysis, meticulous assessment of raw material acquisition, exploration of recent technological advancements, meticulous evaluation of import and export dynamics, meticulous scrutiny of trade regulations, strategic assessment of growth prospects, optimization of the value chain, investigation into the impact wielded by local, domestic, and global brands or contenders, exploration of emerging avenues for revenue generation, tracing the historical trajectory of market expansion, initiation and analysis of novel product introductions, examination of geographical proliferation patterns, assimilation of cutting-edge technologies, identification of specialized application areas and prevailing market dominance factors. Furthermore, the research monitors shift in market regulations and encapsulates much more within its scope.

Report's Study Period:

Historical period: 2018 – 2021
Base Year: 2022
Forecasting period: 2023 – 2028

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What are Key Element Shaping the Growth of GCC HVACR Market in the Coming Year 2028?

Expansion of Tourism Sector to Augment the Market Growth – Tourism is one of the fastest-growing sectors in the GCC region. Countries like the UAE, Oman, and Saudi Arabia, actively encourage medical tourism, business & leisure travel, etc., by providing easy visa clearance, world-class hospitality services, etc. Consequently, there's a mounting influx of foreign visitors to these countries. For instance, in 2022, the UAE welcomed nearly 14.36 million visitors, i.e., a rise of approximately 7.28 million visitors in 2021, and the hotel occupancy rate was more than 70% in 2022, cites the Dubai Department of Economy and Tourism.

These developments have been encouraging the establishment of new hotels & resorts for commercial & cultural purposes by hotel groups like Ciel, Jumeriah, and others, thereby pushing the demand for HVAC systems, eventually aiding in enhancing the GCC HVACR Market share.

Furthermore, Saudi Arabia & Qatar have set the target of increasing their tourist footfall annually by around 100 million & 6 million, respectively, by 2030 & for it, they are encouraging leisure activities, adventure sports, etc. As a result, Aman Hotel, Armani Hotels, etc., are expanding their hotel chains in these countries.

Also, as per the announcements from the Future Hospitality Summit 2023, Saudi Arabia is leading in terms of hotel construction with an investment of approximately USD1 trillion & around 315,000 hotel rooms in the pipeline, thus, likely to be completed by 2030. It would then amplify the demand for centralized air conditioners and, in turn, fuel the HVACR Market growth in the upcoming years.

Structuring the GCC HVACR Market Analysis into Segments

Our team of analysts has employed diverse methodologies and computations to meticulously outline the market, leading to a comprehensive breakdown into distinct sections. Each segment has undergone further scrutiny, resulting in an in-depth exploration of various facets within the market. Through meticulous research, we have unearthed the standout performing segment within each section.

This involves an exploration of the factors and trends underpinning the heightened flow within these specific sections. Furthermore, we identify the key market participants who exhibit heightened activity of these segments, offering a holistic perspective on their distinctive attributes. This study also encompasses a structural expansion of the market, providing a cohesive framework for understanding its evolution. The segmented breakdown of the market is as follows:

By Type
- Window AC
  - Up to 1 Ton
- to 2 Ton
  - Above 2 Ton
- Split AC
  - Up to 1 Ton
  - 5 Ton
  - 6 to 2 Ton
- Floor Standing AC
  - Up to 2 Ton
  - Above 2 Ton
- Cassette AC
- Packaged AC
- Ducted Split AC
- Centralized AC
  - FCU/AHU
  - Chillers
  - VRF
- Refrigeration
By End User
- Residential
- Commercial Buildings
- Retail
- Healthcare
- Hospitality
- Government & Transportation
- Oil & Gas
- Industrial Facilities
- Other Developing Industries (Hydrofarms, etc.)
By Sales Channel
- Direct Sales
- Online
- Authorized Distributors

Geographically, the GCC HVACR Market encompasses the following countries:

- Saudi Arabia

- Oman

- Qatar

- Bahrain

- Kuwait

- The UAE

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Competitive Landscape of GCC HVACR Industry:

In this section, the authors of the report conduct a comprehensive analysis of major companies operating in the GCC HVACR Market. They discuss the companies' strategies, latest developments, expansion plans, product and service portfolios, mergers and acquisitions, as well as opportunities for increasing profit margins. The report highlights the following prominent GCC HVACR companies:

LG Electronics
K.M. Air Conditioning
Carrier Corporation
Gree
Samsung
Daikin Industries
Mitsubishi
Trane Inc.
Johnson Controls Inc.
Zamil Air Conditioners Holding Co. Ltd.
Others

Note: We also offer customized reports tailored to the specific requirements of our clients, which incorporate reliable insights into the market dynamics in a particular segment, geographic location, or a competitor.

Important Inquiries Addressed in the Recent Research Report on the GCC HVACR Market

What are the revenue and volume dimensions of the GCC HVACR Market?
How has the historical growth rate of the GCC HVACR Market evolved, and what growth rates are anticipated in the future?
Which approaches offer the most effective means of entering the market or augmenting one's market presence?
Which methodologies were employed to analyze the dataset?
Who are the prominent competitors in the GCC HVACR Market?
What portion of the market is held by each contender?
What strategies are these contenders employing to secure a competitive advantage?

Others Report -

MarkNtel Advisors' Data Analysis Techniques

To ensure the report’s overall credibility, a mixed-methods approach was embraced, facilitating the cross-validation of findings. The quantitative survey data underwent descriptive and inferential statistical examinations, encompassing frequency distributions, correlation analyses, and regression modeling. These analyses divulged numerical trends and relationships within the data. Concurrently, the qualitative insights obtained from interviews underwent thematic analysis, employing iterative coding and categorization to unveil recurring themes and narratives.

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