GCC HVACR Market Size, Share and Growth Overview 2023-2028
The most recent report on the GCC HVACR Market, its size, share, demand, growth prospects, and future outlook, issued by MarkNtel Advisor, is an exhaustive compilation of data garnered through rigorous research, impartial viewpoints, precise information, and insights shedding light on various aspects of the industry and its worldwide market impact. The report presents well-structured and carefully prepared details, meticulously investigated by expert researchers with a strong focus on maximizing shareholder profitability. The study aims to offer a comprehensive industry overview, systematically categorized into minute sections, encompassing all critical information influencing market dynamics.
Report's Study Period:
- Historical period: 2018 – 2021
- Base Year: 2022
- Forecasting period: 2023 – 2028
Following Questions Covered in this Market Analysis Report:
- What's the current size of the GCC HVACR Market?
- Who are the major players in this market and what's their market share?
- What factors are driving the market's growth?
- Are there any notable trends in the GCC HVACR Market?
- How is competition shaping up in the market?
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GCC HVACR Market Geographical Breakdown:
- Saudi Arabia
- Oman
- Qatar
- Bahrain
- Kuwait
- The UAE
Through the country analysis section, the report aims to provide an overview and forecast of the market considering various countries, cultural, regulatory, political, economic, social, technological, and other industry-specific differences and variations. This analysis includes assessing the presence or absence of major market players and more.
GCC HVACR Industry Growth Driving Factor –
Expansion of Tourism Sector to Augment the Market Growth – Tourism is one of the fastest-growing sectors in the GCC countries. 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.
Analysis of Top Leaders in the GCC HVACR Industry:
- 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
The research report extensively covers essential information and advancements in the GCC HVACR market, with a spotlight on major market players. The market displays a moderate degree of fragmentation, with many players holding relatively small market shares, which impacts the market dynamics independently. Additionally, the report offers in-depth insights into these companies, encompassing their profiles, offerings, financial particulars, significant developments, and more.
Browse Full GCC HVACR Market Analysis Report: https://www.marknteladvisors.com/research-library/gcc-hvacr-market
GCC HVACR Market Segmentation Analysis: 2023-2028
The market is notably fragmented and consists of diverse subcategories. The report's objective is to characterize, analyze, and forecast the path of each subcategory, presenting insights, trends, and developments that influence the movement of these segments and sub-segments. This analysis helps stakeholders navigate the industry's complexities with a comprehensive understanding of its finer points.
Furthermore, the report offers important demographic, countries, psychographic, and behavioral data regarding business segments, empowering companies to identify the attributes to incorporate in order to meet consumer needs. Here's the breakdown of segments in the GCC HVACR Market:
- By Type
- Window AC
- Up to 1 Ton
- 1 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
- Window AC
- 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
Customize GCC HVACR Market Report:
The GCC HVACR report can be customized for clients, including specific locations or countries. Markntel Advisors allows further customization to match client preferences. Researchers aim to make the report user-friendly and tailored to stakeholders' needs.
To Customize This Analysis Report According to Your Specific Requirements, Send Your Inquiry Here: - https://www.marknteladvisors.com/query/request-customization/gcc-hvacr-market
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