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U.A.E. HVAC Market Research Report: By Offering, End-User - Industry Analysis and Growth Forecast to 2030

U.A.E. HVAC Market Research Report: By Offering, End-User - Industry Analysis and Growth Forecast to 2030

  • September 2020
  • 146 pages
  • ID: 5987939
  • Format: PDF
  • Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

U.A.E. HVAC Market Research Report: By Offering (Equipment, Service), End-User (Commercial, Industrial, Residential) - Industry Analysis and Growth Forecast to 2030

An increase in the investments in the infrastructure sector and expansion of the tourism industry will drive the growth of the U.A.E heating, ventilation, and air conditioning (HVAC) market at a CAGR of 5.2% during the forecast period of 2020–2030. In terms of revenue, the market stood at $1,873.1 million in 2019, and it is projected to generate around $2,774.7 million by 2030. This growth will ride on the back of the growing residential, industrial, commercial, and hospitality sectors of the U.A.E.

The construction industry is one of the key driving forces for the U.A.E. HVAC market growth. The U.A.E. government is dedicated to enhancing the quality of the transportation sector of the country, which is why projects such as the extension of the Red Line of Dubai Metro, under the Route 22 plan, and construction of new airports are underway. The government is investing extensively in a new and renewed transportation sector to host Dubai Expo 2020. These ventures will inevitably increase the demand for HVAC systems in this Middle-Eastern nation.

The segments of the U.A.E. HVAC market are offering, end-user, and region. The offering segment is divided into two categories: equipment and service. Further classifications of the equipment category include heating, ventilation, and cooling systems. The cooling category dominated the market in 2019, and it is also expected to hold the topmost position during the forecast period. This is primarily due to the hot and humid conditions of this desert nation and rapid urbanization, which will increase the demand for cooling equipment in the coming years.

Dubai proved to be the largest U.A.E. HVAC market in 2019, because of the increasing construction of large infrastructure units. These rapid construction activities are in response to the upcoming event of Dubai Expo 2020. Additionally, the government is increasing its focus on the construction sector to reduce the dependency on the oil and gas sector. The tourism industry also plays a significant role in the development of infrastructure in Dubai; therefore, it will also contribute to the growth of the market.

The capital city of the U.A.E, Abu Dhabi, and Al Ain are expected to together witness the highest growth rate in the U.A.E. HVAC market in the forecast years. This growth will be driven by the Abu Dhabi 2030 plan, which aims to attract at least 7.9 million tourists annually and reduce the dependency on gas and oil. The construction of new offices and retail spaces is also projected to be a prime factor that will add substantially to the revenue of the market.

Therefore, an increase in construction activities and the expansion of infrastructure across the U.A.E. will drive the growth of the market. The demand for HVAC equipment and services will increase during the forecast period due to the newly constructed buildings being commissioned and extreme climatic conditions. Moreover, the extensive support of the government will drive the market to new heights in the future.

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