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The HVAC market in UAE is driven by the thriving commercial construction sector in the country, coupled with the implementation of new construction and renovation projects. The government of the UAE is focusing on developing smart cities with upgraded residential, commercial, and public administration structures. In addition to this, the country has also witnessed a significant increase in foreign investments in the commercial construction business. Moreover, the upcoming mega construction projects in the UAE include Burj Jumeirah in Dubai, likely to generate the demand for HVAC equipment. The market in the region will further be aided by the rapid advancements and approvals of mega residential projects in the country owing to the rising disposable income and increasing population.
In June 2021, Carrier Global Corporation (NYSE: CARR) announced the acquisition of a controlling stake of Guangdong Giwee Group, along with the company's subsidiaries, such as Guangdong Chigo Heating & Ventilation Equipment Co. Ltd.
Market Breakup by Equipment, Implementation Type, and End-Use:
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The major players in the UAE HVAC market are Takyeef Factory LLC, SASCO Airconditioning Industry, Carrier Global Corporation, LG Electronics Inc., and Gulf Star Cooling Services LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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