UAE HVAC Market to Grow at a CAGR of 4.10% During 2024-2032, Aided by the Thriving Commercial Construction Sector in the Country

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.

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Market Breakup by Equipment, Implementation Type, and End-Use:

• The market is segmented based on equipment into heating, ventilation, and cooling. 

• The primary implementation types considered in the market include new constructions and retrofits.

• The different end uses in the HVAC market include residential, commercial, and industrial.

Key Findings of the Report:

• The HVAC market in UAE is being driven by the rising application of HVAC equipment in the commercial industry.

• The growing approvals and steady demand for the residential construction projects in the country owing to the rising population and increasing disposable income are likely to provide impetus to the market. 

• The market is anticipated to be aided by the rising demand for HVAC equipment in restaurants and hotels owing to the thriving travel and tourism industry. 

• Stringent government regulations will further aid the market to curb air pollution and carbon emission.

Key Offerings of the Report:

• The EMR report gives an overview of the HVAC market in UAE for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the equipment, implementation types, and end-uses.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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