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Rising Investment in Infrastructure Development Project is Catalyzing the GCC Chillers Market Growth

The chiller market is witnessing astronomical growth owing to the factors such as significant surge in the demand for chillers in the residential sector on account of rapid urbanization, bolstering government investment in mega commercial infrastructure project and burgeoning demand for chillers district cooling systems. The boost in government initiative to grow tourism in the countries such as UAE, Saudi Arabia, and Qatar etc. would place a positive impact on the growth of hospitality, commercial and transportation sector. Thus, this would further fuel the demand for chillers in the forthcoming years.


In addition to this, strong growth in the food & beverages industry, growing popularity of district cooling to reduce energy consumption and rising inclination toward inverter-based chillers are the factors is predicted to exhibit huge revenue growth in the forecast period.

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Based on Product, Air-cooled is projected to grow at a steady rate owing to its application in stadiums, industrial districts, shopping centers, hotels as it need fewer space and can be installed on roof-tops of the buildings share. The demand for air-cooled product is high in the GCC region as these are used to fulfill the cooling load of commercial buildings. Moreover, increasing government investment on various commercial infrastructure, and transportation development project is expected to promulgate the segment growth in the near future.

 

Saudi Arabia is expected to register fastest growth in the GCC Chiller market during 2021-26. The growth of the segment is attributed to burgeoning government spending in upcoming and ongoing various transportation development project such as airport, metro project, burgeoning demand for inverter chiller to minimize the energy consumption and rapid expansion in food & beverages due to boost in the consumption of frozen food, beverages.

           

The key players with a considerable market share in the GCC Chillers market are Daikin Middle East and Africa FZE, Johnson controls, S.K.M Air Conditioning LLC, Petra Engineering Industries Company, Midea Group, Gami Air Conditioners Manufacturing Company L.L.C., Zamil Air conditioners, Smardt Chiller Group FZE, Dunham-Bush, Carrier Corporation etc.


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