KUWAIT CITY: Kuwait’s Air Conditioner Market is projected to grow at a CAGR of 4.45% during 2016-22. The growth rate of the market has declined due to falling oil prices in the international market, which affected government spending in the country. Post 2017, oil prices are expected to recover which would add to the growth of both public & private infrastructures thereby driving the momentum of air conditioners market in Kuwait.
In the overall GCC air conditioner market, Kuwait is one the prime contributors- attributed to factors such as surging construction activities, increasing investments, rise of commercial spaces and housing complexes. The market for air conditioners in Kuwait has registered stagnant growth in last few years and is anticipated to remain flat during 2016-22.
In Kuwait air conditioner market, centralized air conditioner accounts for majority of revenue share in 2015. Centralized air conditioner system is exhibited to lead through the forecast period. Amongst all regions, Kuwait City has captured key share of the market.
The report thoroughly covers the air conditioners market by AC types, end users and regions. The report provides the unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers, which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.
