Exploring GCC Air Conditioner Aftermarket Market: Rising Trends, Opportunities and Challenges Forecast 2030

GCC Air Conditioner Aftermarket Market Overview:

According to MarkNtel Advisors study the GCC Air Conditioner Aftermarket Market is valued at USD 2.5 billion in 2022 is estimated to grow at a CAGR of 5.2% during the forecast period, i.e., 2023-28. The market growth is attributed owing to the soaring demand installation of air conditioners in the various countries of the region, as the GCC region experiences very hot humid climatic condition. The regional countries have a very high demand for air conditioners owing to it extreme weather condition the existing installed air conditioners require proper maintenance repair, which also creating substantial demand for aftermarket services. Several countries of the GCC region are moving towards advancements development, due to which there is a rise in the infrastructure, construction of the residential commercial buildings, and various other sectors. This, in turn, is generating a need for air conditioner, which is eventually driving the GCC Air Conditioner Aftermarket.

Key Findings of the Study: GCC Air Conditioner Aftermarket market

GCC Air Conditioner Aftermarket Driver:

Booming Construction and Rising Renovation Retrofitting Projects to Augment the Market Growth – The GCC region has been witnessing substantial building infrastructure expansion, including residential buildings, commercial complexes, hotels, hospitals, and industrial facilities. As construction is emerging, the demand for air conditioners would also fuel, subsequently driving the GCC Air Conditioner Aftermarket for installation, maintenance, and replacement services. Additionally, there has been a surge in retrofitting remodeling or renovation projects in the GCC region with the objective of optimizing the energy efficiency of existing structures. These projects frequently entail replacing or upgrading air conditioning systems, which fuels the need for aftermarket products services.

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Scope of the GCC Air Conditioner Aftermarket Market Report Segmentation

-By Type

Service
Spare parts Retrofit

-By End-User

Residential
Healthcare
Commercial Retail
Government Transportation
Hospitality
Oil Gas
Others

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Geographical analysis:

-By Country

Saudi Arabia
UAE
Qatar
Kuwait
Bahrain
Oman

Saudi Arabia is predicted to be the most prominent region owing to the soaring construction activities in all sectors, like commercial, residential, etc. The country has a large demand for air conditioners also has a strong presence of aftermarket due to the very hot climate. With a growing population and a high demand for cooling, residential buildings such as houses, apartments, and villas require reliable air conditioning systems and aftermarket services for installation, maintenance, and repairs, thus creating a demand, further upscaling the GCC Air Conditioner Aftermarket.

GCC Air Conditioner Aftermarket Industry Recent Development:

August 2022: SKM, one of the leading air conditioner aftermarket companies, announced the signing of a contract with Azizi, a company in the UAE, to supply, install, and handle the maintenance of the air conditioners in its new park avenue project.

Current Landscape of GCC Air Conditioner Aftermarket Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the GCC Air Conditioner Aftermarket market. The research report profiles major players, including

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Carrier
Aftron
Trane
Daiken
LG
Mitsubishi

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