Air-conditioner market growth to top 13pc.
The Fifa World Cup is providing the biggest boost for Qatar's air-conditioner market, which is projected to grow at a CAGR of 13.42 per cent during 2015-2, a report says.
The country is renovating and building new stadiums and will also be installing very powerful air conditioners in entire stadiums to enhance the ambient temperature during the international sporting event, said the report entitled "Qatar Air Conditioner (2015-2021)" and released by 6Wresearch, a global market research and consulting firm.
Qatar has planned to build nine new stadiums and upgrade three. Upgradation and construction of new stadiums would create fresh demand for air conditioners in the country. Further, to accommodate visitors in the country, construction of several new hotels have been planned.
More than $300 billion is expected to be invested in World Cup Qatar to build supporting infrastructure.
Mega construction activities in the areas of hospitality, retail, healthcare, transportation, and leisure and entertainment would create huge opportunities for air-conditioner players in the country.
Avishrant Mani, senior research analyst, research and consulting, 6Wresearch, said: "In the forecast period, the market is projected to grow on account of mega construction projects in the Al Daayen, Al Khor, Al Rayyan, Al Shamal, Al Wakrah, Doha and Umm Slal regions."
"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.
"The high consumption of energy in Qatar has forced the government to put stringent regulations on air-conditioner manufacturers to manufacture energy-efficient units with minimum three stars rating feature.
In Qatar, centralised and split air conditioners have driven growth of the overall market; however, the market share of window air-conditioners is expected to decline in the coming years," Mani added.
Air conditioning for residential application captured the largest share of the market and is expected to maintain its dominance through the forecast period whereas, retail and hospitality applications are expected to witness key growth over the next six years, the report said.
[c] Copyright 2015 www.gulfindustryonline.com
Copyright 2015 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. ( Syndigate.info ).