GCC HVACR Market Share, Size, and Growth Forecast: 5.32% CAGR (2023-28)

GCC HVACR Market Insights Report Overview

According to the latest market study by MarkNtel Advisors titled “GCC HVACR Market Size, Share, Trends, Growth, Opportunity Analysis 2023-2028” presents a thorough examination of market drivers, opportunities and challenges.

Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.

GCC HVACR Market Overview:

The GCC HVACR Market size is valued at around USD 6.2 billion in 2022 & is estimated to grow at a CAGR of about 5.32% during the forecast period, i.e., 2023-28.

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GCC HVACR Market Challenge:

Shortage of Semiconductor Chips is Hampering HVACR Imports – The global shortage of semiconductors, especially initiated during COVID-19 due to the reduction in wafer fabrication units, hampered the growth of the GCC HVACR Market. Most companies involved in wafer fabrication of semiconductor chips, such as Global Foundries, United Microelectronics Corporation (UMC), etc., paused their production processes due to reduced demand, which, in turn, negatively affected AC manufacturing worldwide, as semiconductor chips are their integral part.

Competitor Insight: GCC HVACR Market

This report focuses on major market participants like:

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

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Segmentation Summary: GCC HVACR Market

This segmentation analysis outlines prominent sections in the report's table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the GCC HVACR Market, with notable highlighting on:

-By Sales Channel

Direct Sales
Online
Authorized Distributors

Authorized Distributors captured a significant share of the GCC HVACR Market during the historical period as they provide customers with numerous brand options in air conditioners. Moreover, the ease with which air conditioner & refrigeration companies can sell their products without incurring large investments to cover the region's vast population spread across various geographical locations is another aspect that contributed to supplementing the market growth. The increase in the number of residential units in the region is thus set to push the demand for HVACR systems from authorized distributors in the coming years.

-By Type

Window AC
Split AC
Floor Standing AC
Cassette AC
Packaged AC
Ducted Split AC
Centralized AC
Refrigeration

-By End User

Residential
Commercial Buildings
Retail
Healthcare
Hospitality
Government & Transportation
Oil & Gas
Industrial Facilities
Other Developing Industries (Hydrofarms, etc.)

GCC HVACR Market Geographical Reach:

Saudi Arabia
Oman
Qatar
Bahrain
Kuwait
The UAE

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Key Questions Addressed:

Factors Driving Market Growth: Understand the primary drivers propelling the GCC HVACR market forward.
Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
Growth Projections: Gain insights into anticipated growth projections for the coming years.
Geographical Hotspots: Identify geographical poised for significant market growth soon.

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