TechNavio recognizes the following companies as the key players in the HVAC Market in GCC: Carrier Corp., Daikin Industries Ltd., Ingersoll Rand plc, Johnson Controls Inc., and Zamil Industrial Investment Co.
Commenting on the report, an analyst from TechNavio’s team said: “The HVAC market in GCC is witnessing the use of highly advanced and innovative technologies in the HVAC systems. The evaporative cooling is one such technology that has huge growth potential in GCC. Unlike traditional air conditioning systems, which work on vapor-compression technique, evaporating cooling works on the concept of water’s large enthalpy of vaporization. This can easily be used in open spaces such as schools, factories, bus stops, sports grounds, and outdoor swimming pools. The factors leading to the growing use of this technology in GCC are the increasing awareness of cooling systems’ effectiveness, increasing electricity costs, and low-energy consumption of air-cooling systems. Also, the increased consciousness of health and safety in workplaces requiring comfortable conditions in hotter industrial and construction environments has led to the increased use of advance and innovative technologies in GCC. In addition, other technologies such as VFDs and VRF are also being adopted by HVAC vendors in GGC to incorporate customized temperature control functions in their HVAC systems.”
According to the report, the HVAC market in GCC is driven by many growth factors, one of which is the increase in construction activities. This has driven the growth of the HVAC market in the GCC countries as the sale of HVAC equipment is highly correlated with construction activities. The rising demand for commercial and residential buildings is fuelling the growth of the HVAC market in GCC.
Further, the report states that the increasing competition from local vendors is one of the key challenges. The HVAC market in GCC is highly fragmented because of the presence of several local vendors. Global vendors are finding it difficult to maintain the market share and are losing it to local vendors.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Dwyer Instruments Inc., LG Corp., Mitsubishi Electric Corp., Samsung Electronics Co. Ltd., and Voltas Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/hvac-market-gcc-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -HVAC Market in GCC 2012-2016
