GCC Air Conditioners Market: Overview
GCC Air Conditioners market is expected to grow with a CAGR over 7.93% during the forecast period 2018-2025, owing to changing climatic conditions, and changing consumer lifestyle. The climate and weather in GCC are hot and dry, hot weather prevails throughout the year with the occasional rainfall in winter. The hot days/nights based on temperature thresholds reveals that summers are expanding and winters are shrinking. The increasing trend of intense heat may cause health problems in the region.
The observed trend of temperature increase is alarming, thereby GCC region is likely to witness temperatures rise to 60 degrees in coming years, if GCC climatic change and urban planning problems are not resolved. Hence, air conditioners usage and demand in residential buildings is growing enormously, protecting people indoors, increasing people efficiency and reducing child mortality rate. Thus, with the increasing business sector demand for air conditioners will also grow at an escalating rate and will propel the GCC Air Conditioners market over the forecast period.
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The weather in the Gulf Countries is so humid and hot that it is increasingly becoming impossible to live without air conditioners. Saudi Arabia and other developing countries are witnessing demand for air conditioners due to the growing business and residential sector.
GCC Air Conditioners Market: Key Product Analysis
Air Conditioners are segmented in various product types which include Centralized AC, Split AC, Window AC, Packaged AC, Portable AC, and Others.
Centralized AC Market in GCC is expected to grow with a CAGR of over 7% during 2018-2025. Centralized AC is a system in which air is cooled at a central location and distributed to and from rooms by one or more fans and ductwork. It is mainly used in hospitals, schools, offices, hotels, factories, large commercial buildings, and industrial plants. etc.
Window AC Market in GCC is the fastest growing and it is expected to grow with a CAGR of 8.7% during 2018-2025. Similar to Window AC, Portable ACs are another example of a “unitary” or self-contained air conditioning system. Portable ACs have all of their important components contained within one appliance. These units are most commonly used in situations where either the design of a room or building rules and regulations prevent the installation of a window unit.
Split AC Market in GCC is expected to grow with a CAGR of over 8% during 2018-2025. Presently, the usage of Split ACs is more as compared to the conventional ACs owing to several benefits. split AC provides noise-free performance, enabling of a multi-split system which makes it simple to cool various rooms as one outdoor unit can support multiple various indoor air conditioning units., ease of installation and ease of service provided.
GCC Air Conditioners Market: Centralized AC Type Analysis
VRF is the largest growing Centralized AC segment with a CAGR of over 8% over forecast period. Variable refrigerant flow VRF systems vary the flow of refrigerant to indoor units based on demand. This ability to control the amount of refrigerant that is provided to fan coil units located throughout a building makes the VRF technology ideal for applications with varying loads or where zoning is required.
Chiller type Centralized AC is growing with a CAGR of 8.3% over 2018-2025. Centralized systems use “chillers” which are basically giant AC units but they work slightly differently because of their size. Chillers generate chilled water which is used to provide air conditioning in buildings.
A fan coil unit FCU is a simple device consisting of a heating and/or cooling heat exchanger or ‘coil’ and fan. It is part of an HVAC system found in residential, commercial, and industrial buildings. A fan coil unit is a diverse device sometimes using ductwork and is used to control the temperature in the space where it is installed or serve multiple spaces. The Segment is growing with a CAGR of over 6%.
GCC Air Conditioners Market: Application Analysis
Residential Applications of AC in GCC is growing with a CAGR of 6.9%. Residential HVAC systems are typically used in homes and possibly small businesses. These units are generally smaller and very less in terms of heating and cooling capacity. However, correctly sizing residential systems also requires knowledge and experience. Residential ACs usually come in standard central units hooked up to ducts, with the condenser placed outdoors and the evaporator indoors in the garage or basement.
Commercial applications of AC in GCC is growing rapidly with a CAGR of over 10% over the forecast period. Commercial HVAC systems are used in office buildings, large retail stores, warehouses, and other large buildings. Commercial spaces are frequently much larger than residential spaces, and often serve a much greater number of people. Commercial HVAC units must be expertly sized to account for employees and customers during peak hours, and proper sizing requires a contractor with specialized technical skill and experience.
GCC Air Conditioners Market: Key Players
Zamil Air Conditioners Holding Co. Ltd.
• LG Electronics Gulf FZE
• Daikin McQuay Middle East FZE
• Air-conditioning & Heating International Carrier FZC
• Gree Electric Appliances, Inc.
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GCC Air Conditioners Market: Competitive Dynamics
The GCC Air Conditioners market is dominated by a number of players, amongst them the major players are Zamil Air Conditioners Holding Co. Ltd., Daikin McQuay Middle East FZE, LG Electronics Gulf FZE, Gree Electric Appliances, Inc., Air-conditioning & Heating International Carrier FZC, etc. Companies in this industry are following different strategies to strengthen their market position. For instance, In March 2017 LG along with their selected distributor, Al Yousuf introduced the new technology air conditioners all across UAE. The products have their new inverter technology installed in them.
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