GCC Air Conditioner Market Size: 2025 Outlook
The GCC Air Conditioner Market size was valued at around USD 3.9 billion in 2023 and is estimated to grow at a CAGR of around 5.0% during the forecast period, 2024-30. This growth is driven by increasing urbanization, rising disposable incomes, and numerous mega projects across the Gulf Cooperation Council (GCC) countries. As temperatures soar, enhanced air conditioning solutions are becoming indispensable for both residential and commercial sectors, driving the demand for advanced cooling technologies.
GCC Air Conditioner Market Statistics
- The GCC Air Conditioner Market was valued at around USD 3.9 billion in 2023.
- Expected compound annual growth rate (CAGR) from 2024 to 2030 stands at around 5.0%.
- Split air conditioners account for the largest share of the market.
- Saudi Arabia leads the region in terms of market size and growth potential.
- The commercial sector is projected to dominate air conditioning demand due to rapid infrastructural development.
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GCC Air Conditioner Market Competitive Landscape
The GCC Air Conditioner Market is highly competitive and features several prominent players focused on innovation and sustainability. The market is driven by companies that consistently adapt to changing customer needs, focusing on energy-efficient and smart cooling solutions that adhere to environmental standards.
Key Players Dominating the GCC Air Conditioner Market:
- LG Electronics
- S.K.M. Air Conditioning
- Gree Electric Appliances, Inc.
- Carrier GCC Corporation
- Daikin Industries, Ltd.
- Mitsubishi Electric Corporation
- Trane Technologies Company, LLC
- Johnson Controls International Plc
- Zamil Air Conditioners Holding Co. Ltd.
- Panasonic Marketing Middle East & Africa FZE
- Others
GCC Air Conditioner Market Trend:
Increasing Popularity of Smart Air Conditioners – Smart air conditioners are gaining popularity among customers as they provide features that make them more efficient and practical. These smart air conditioners use IoT technologies to provide features such as schedule on and off, real-time energy consumption monitoring, remote control, filter health indicator, maintenance indicator, and many more. These features can be accessed via a mobile app or tablet and in some models even a voice assistant. With the growing popularity of creating a smart appliance network at homes, smart air conditioners are becoming more popular. These features enhance their efficiency and usability. Thus, the increasing popularity of such air conditioners is creating a solid foundation for growth & expansion of the air conditioner industry during the forecast period.
GCC Air Conditioner Market Recent Development
- In 2023, LG Electronics launched its latest line-up of air conditioners specifically designed for the harsh conditions of the Gulf region, capable of operating in temperatures up to 65°C.
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GCC Air Conditioner Market Segmentation
The GCC Air Conditioner Market can be segmented based on the following criteria:
By Type
- Window AC- Market Size & Forecast 2019-2030, Thousand Units
- Upto 1 Ton
- 1.1 to 2 Ton
- Above 2 Ton
- Split AC- Market Size & Forecast 2019-2030, Thousand Units
- Upto 1 Ton
- 1.1 to1.5 Ton
- 1.6 to 2 Ton
- Floor Standing AC- Market Size & Forecast 2019-2030, USD Million
- Upto 2 Ton
- Above 2 Ton
- Cassette AC- Market Size & Forecast 2019-2030, USD Million
- Packaged AC- Market Size & Forecast 2019-2030, USD Million
- Ducted Split AC- Market Size & Forecast 2019-2030, USD Million
- Centralized AC- Market Size & Forecast 2019-2030, USD Million
- FCU/AHU
- Chillers
- VRF
By End User
- Residential- Market Size & Forecast 2019-2030, USD Million
- Commercial- Market Size & Forecast 2019-2030, USD Million
- Industrial- Market Size & Forecast 2019-2030, USD Million
- Hospitality- Market Size & Forecast 2019-2030, USD Million
By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030, USD Million
- Online- Market Size & Forecast 2019-2030, USD Million
- Authorized Distributors- Market Size & Forecast 2019-2030, USD Million
By Country
- Saudi Arabia
- The UAE
- Oman
- Qatar
- Bahrain
- Kuwait
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Frequently Asked Questions (FAQs)
- What is the projected market value of the GCC Air Conditioner Market by 2025?
- Which country is expected to lead in air conditioner demand within the GCC?
- What are the primary factors driving the growth of the GCC Air Conditioner Market?
- How significant is the role of split air conditioners in the overall GCC Air Conditioner Market?
- What trends are shaping the future of air conditioning solutions in the GCC region?
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