MEA Air Conditioners Market to Grow at 12% during 2017 – 2022
Flourishing tourism and
hospitality sectors coupled with extreme climatic conditions to aid MEA air
conditioners market through 2022
According to a TechSci
Research report, “MEA Air Conditioners Market By Product
Type, By End Use Sector, Competition Forecast & Opportunities,
2012 – 2022”, the air
conditioners market in the Middle East & Africa is projected to grow at a
CAGR of over 12% during 2017 – 2022., on account of increasing number of
households, growing construction of commercial and residential buildings, and
imposition of government norms to allow sales of only energy efficient air
conditioner technologies that abide by the star labelling system. Growing
disposable income of the working population, various technological innovations
in new air conditioners models, and rapid urbanization are few of the other
major factors fueling growth in MEA air conditioners market.
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Major demand for air conditioners in the region
emanates from Saudi Arabia, predominantly due to the presence of Riyadh,
Madinah and Jeddah. Saudi Arabian government plans to build around 5,00,000
housing units in the country over the next five years by investing around USD68
billion to ease housing shortage in the country. Further, ongoing commercial
constructions like King Abdul-Aziz International Airport are expected to drive
the demand for air conditioners market in Saudi Arabia during forecast period.
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“With
increasing investments being made by the government of the Middle Eastern and
African countries and enforcement of various energy efficiency labelling
standards, the demand for energy efficient air conditioners in the region is
growing at a significant pace. This is expected to facilitate the region in
making significant advances in the overall electricity consumption over next
five years, in addition to air conditioner sales witnessing an upsurge through
2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“MEA Air
Conditioners Market By Product Type, By End
Use Sector, Competition Forecast &
Opportunities, 2012 – 2022” has evaluated the future growth potential of MEA air conditioners market
and provides statistics and information on market structure, size, share and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in MEA air conditioners
market.
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