DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "GCC Air Conditioner Market (2017-2023): Market Forecast by Air Conditioners Types, Applications and Countries" report to their offering.
GCC Air Conditioner Market is projected to grow at a CAGR of 7.3% during 2017-2023. Saudi Arabia and UAE are the key revenue generating countries in the entire GCC region. Centralized air conditioner market accounted for major revenue share in the overall market in 2016, with Saudi Arabia being the largest contributor.
Infrastructure development projects including metros & airports, construction of new hotels & malls along with government initiatives to build world class infrastructures have led for the growth of air conditioner market in overall GCC countries. However, with the slump in oil prices, which started in mid of 2014, adversely impacted construction market in GCC countries. Overall GCC projects awards declined by 17% during 2015-16, where Saudi Arabia, Kuwait and Oman were majorly affected. The market is expected to recover post 2018, with the recovery of oil prices.
Centralized air conditioner market is exhibited to maintain its dominance throughout the forecast period. Split air conditioner market has also captured key share in the overall GCC's air conditioner market due to high demand from residential and light commercial applications. Also, VRF market is expanding in the region owing to high efficiency feature which helps to consume less energy and reduce the electricity bill.
The report thoroughly covers the GCC Air Conditioner market by types, applications, and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
The report provides the detailed analysis of the following market segments:
- Window AC
- Spilt AC
- Floor Standing
- Cassette Type
- Suspended Type
- Ceiling Concealed/ Ducted Split
- Condensing Unit
- Commercial Buildings & Retail
- Govt. & Transportation
- Oil & Gas
- Saudi Arabia
- AHI Carrier FZC
- Daikin Middle East FZE
- Fujitsu General (ME) FZE
- GREE Electric Appliance Inc.
- Johnson Controls (YORK)
- LG Electronics
- Mitsubishi Electric Corp.
- Petra Engineering Industries Co.
- S.K.M Air Conditioning LLC
- Samsung Electronics Co. Ltd.
- TRANE Inc.
- Zamil Air Conditioners (ZAC)
For more information about this report visit http://www.researchandmarkets.com/research/rkt584/gcc_air