Saudi Arabia, Oman and Kuwait expected to lead growth, UAE to grow slower
The UK-based Building Services Research and Information Association has said the heating, ventilation and air conditioning (HVAC) sector in Saudi Arabia, Oman, and Kuwait, where summer temperatures rise above 50° Celsius, is predicted to grow 10% annually until 2015.
HVAC will witness a 6% growth in Qatar, while the UAE is expected to grow by less than that, Andrew DeGuire, vice president of Strategy & Acquisitions at Johnson Controls, was quoted as saying by Zawya.
“The UAE has not fared quite as well as the rest of the GCC, but has still had solid growth compared to the global HVAC market. We see the UAE HVAC market growing by 3% from 2011 to 2015,” DeGuire added.
The regional market is currently more than 80% dominated by global firms such as Johnson Controls, Trane, Daikin McQuay, and United Technologies-Carrier Corporation, while local manufacturers such as Zamil, Golden Star and SKM have the remaining market share, DeGuire noted.