According to a recent study titled ‘GCC Air Conditioner Aftermarket Analysis, 2020’, available with Market Study Report, GCC air conditioner aftermarket is expected to garner strong returns through 2025.
 

As per the findings of the report, rising government expenditure towards transportation sector in view of the metro projects that will be introduced in the upcoming World Expo is augmenting GCC air conditioner aftermarket growth. Besides, rapid urbanization in line with substantial rise in the number of commercial constructions like hotels and malls are favoring the business landscape.
 

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Proceeding further into the research, the document entails a granular assessment of industry segments, uncovering the top revenue prospects in the process. It then proceeds to investigate the competitive arena by profiling the leading players in this business space. Additionally, it incorporates the Covid-19 impact on this vertical for a stronger realization of the growth prospects.
 

GCC air conditioner aftermarket, based on type is split into service & spare parts & retrofit. Considering the end-user spectrum, the industry is categorized into healthcare, residential, government & transportation, commercial & retail, oil & gas, hospitality, and others.
 

Industry experts claim that hospitality sector grabbed significant industry share in 2019 and is likely to experience a positive growth trend in the forthcoming years. The segment growth is attributable to soaring investments and increasing government initiatives to boost tourism on account of hosting World Expo 2021 in UAE and FIFA 2022 in Qatar.
 

GCC air conditioner aftermarket from transportation segment is also expanding at a robust pace majorly due to initiation of several metro projects, establishment of new airports, and expansion of existing metro lines and airports.
 

Considering the geographical bifurcation, GCC air conditioner aftermarket size spans across UAE, Kuwait, Qatar, Bahrain, and Oman.
 

Speaking of the top contenders, companies with a considerable portion the industry share are Mitsubishi Electric Corp., LG Electronics, Inc., Daikin Industries Ltd., Trane Technologies, Inc., AFTRON - Al-Futtaim, and Carrier Global Corp.