GCC Air Conditioner Aftermarket Market Size, Share, Trends, Demand, Growth and Competitive Analysis 2028 – MarkNtel Advisors

According to Markntel Advisors Report, GCC Air Conditioner Aftermarket Market is expected to grow at a significant growth rate, and the analysis period is 2023-2028, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

The air conditioner aftermarket indicates the market for products, parts, and services related to air conditioning systems after the initial sale & installation. It encompasses the diverse activities & offerings supporting the maintenance, repair, replacement, and enhancement of air conditioning systems once they are already in use or have been installed.

GCC Air Conditioner Aftermarket Market Research Report & Summary:

The GCC Air Conditioner Aftermarket 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.  

Time Period Captured in the Report:

·         Historical Years: 2018-21

·         Base Years: 2022

·         Forecast Years: 2023-2028

Who are the Key Players Operating in the GCC Air Conditioner Aftermarket Market?

The top companies of the GCC Air Conditioner Aftermarket Market ruling the industry are: 

Carrier, Trane, Daikin, SKM, LG, Johnson Control (York), GAMI, Emrill, Imdad, Etisalat, and Others

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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.

The GCC Air Conditioner Aftermarket Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Type

-Service

-Spare parts & Retrofit

-By End-User

-Residential

-Healthcare

-Commercial & Retail

-Government & Transportation

-Hospitality

-Oil & Gas

-Others

-By Country

-Saudi Arabia

-UAE

-Qatar

-Kuwait

-Bahrain

-Oman

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Market Dynamics - GCC Air Conditioner Aftermarket Market:

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.

Lack of Domestic Skilled Workforce to Hinder the Market – As most of the countries in the GCC region are dependent on migrants for an effective & qualified workforce & they lack domestic workers. Therefore, the shortage of skilled workers in the region is a challenging factor in the market. The lack of skilled technicians can result in a limited pool of specialists available to deliver timely & efficient service & supervision for air conditioning systems. This can lead to longer wait times for consumers seeking repairs or maintenance, affecting customer satisfaction & potentially leading to delays in resolving issues.

The air conditioning industry is constantly evolving with the introduction of the latest technologies, energy-efficient systems, and smart controls. However, most of the workers who have dealt with the traditional process & are not advanced or qualified lack expertise in handling these cutting-edge technologies. This would act as a barrier to the growth of the GCC Air Conditioner Aftermarket. Also, there is no or limited availability of training & development programs in the air conditioning industry. Hence, the lack of comprehensive training can inhibit the development of a skilled workforce, hindering the overall competence & expertise of aftermarket service providers in the forthcoming years.

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