The new report by Expert Market Research titled, ‘UAE HVAC Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the UAE HVAC market, assessing the market based on its segments like equipment, implementation types, and end uses.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.4%
The strong foothold of major HVAC service providers in the UAE is driving the market. This can be attributed to the growing HVAC consumers owing to the rising disposable income, rapid urbanisation and increasing temperature in the country. In addition to this, the thriving industrial and commercial sectors are anticipated to propel the demand for HVAC systems owing to the high economic growth attained by the country. Moreover, the increasing adoption of HVAC systems in the healthcare, owing to the increasing efforts by the government to bolster the standards of healthcare units is likely to augment the market in the forecast period.
Industry Definition and Major Segments
HVAC is defined as a system which is designed to control and adjust temperature and the quality of air in an indoor area to bolster the comfort of the occupants. HVAC is a source of proper ventilation and allows the moisture to escape. The major components of HVAC system are air filters, supply fans, ducts, and terminal devices, among others. HVAC systems are widely used in the commercial and residential structures.
On the basis of equipment, the market can be segmented into:
• Heating
o Heat Pumps
o Furnaces
o Unitary Heaters
• Ventilation
o Air-Handling Units
o Air Filters and Purifiers
o Ventilation Fans
o Dehumidifiers and Humidifiers
o Others
• Cooling
o Unitary Air Conditioners
o VRF Systems
o Chillers
o Coolers
o Cooling Towers
o Others
Based on implementation type, the market has been bifurcated into:
• New Constructions
• Retrofits
On the basis of end use, the market has been divided into:
• Residential
• Commercial
• Industrial
Market Trends
The key trends in the HVAC market in UAE include the rising demand for HVAC system in the residential sector owing to the increasing standards of living, rising disposable income, and increasing immigration of workers from the foreign countries. Meanwhile, the stringent regulations of the government aimed towards curbing the effects of unpleasant air are anticipated to provide impetus to the market in the forecast period. In January 2019, EVAPCO, a leading manufacturer of commercial HVAC products, announced the opening of new office in UAE. Hence, developments like these are anticipated to augment the market in the forecast period.
Key Market Players
The major players in the market are Takyeef Factory LLC, SASCO Airconditioning Industry, Carrier Global Corporation, LG Electronics Inc., and Gulf Star Cooling Services LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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