QATAR: Currently the subject of some controversy, but the 2022 football World Cup could provide a 13.42% boost to the GCC air conditioner market.
While the voting process which gave Qatar the 2022 World Cup is under investigation by Swiss prosecutors, the country is ploughing ahead with renovating and building new stadiums. These will include extensive air conditioning systems to provide ambient temperature during the international sporting event.
According to 6Wresearch, the Qatar air conditioner market is projected to grow at a CAGR of 13.42% during 2015-21. The country has planned to build nine new stadiums and upgrade three stadiums. As well as additional air conditioning for the stadiums, several new hotels have been planned to accommodate the visitors visiting the country.
More than $300bn is expected to be invested in the country to build the supporting infrastructure. Mega construction activities in the areas of hospitality, retail, healthcare, transportation, and leisure & entertainment would create huge opportunities for air conditioner players in the country.
“In the forecast period, the market is projected to grow on account of mega construction projects in Al-Daayen, Al-Khor, Al-Rayyan, Al-Shamal, Al-Wakrah, Doha and Umm Slal regions,” said Avishrant Mani, a 6Wresearch senior research analyst.
Some of the key projects include- Airport City, New Doha Port, Doha Metro, Energy City and Msheireb Downtown Doha. These projects would add to the growth of centralised air conditioners.
High consumption of energy in Qatar has forced the government to put stringent regulations on air conditioners manufacturer to manufacture energy efficient air conditioner with minimum three stars rating feature.
“In Qatar, centralised and split air conditioners have driven the growth of the overall market; however, share of window air conditioner is expected to decline in the coming years,” Avishrant added.
Further information on the report – Qatar Air Conditioner (2015-2021) – here.