MIDDLE EAST: The hvac market in Gulf Cooperation Council (GCC) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE are predicted to grow at a CAGR of 7.43% over the period 2012-2016, according to a new report from TechNavio.
Market growth is expected to be driven by increasing construction activity and a growing demand for energy-efficient systems. However, increasing competition from local vendors could pose a challenge to the growth of this market, the report warns.
|Designed to catch cool breezes
and direct them into the interior of the building,
wind towers were a traditional architectural
element in residential houses around
the Arabian Gulf before air conditioning
The key vendors dominating the market are identified as Carrier, Daikin, Ingersoll Rand, Johnson Control and local manufacturer Zamil. Other vendors mentioned in the report include LG, Mitsubishi Electric, Samsung and Indian manufacturer Voltas.