Kuwait HVAC After-Market Overview and Insights:
According to MarkNtel Advisors Report, the Kuwait HVAC After-Market is projected to grow at a CAGR of around 12.7% during the forecast period, i.e., 2021-26.
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Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2016-19
- Base Year: 2020
- Forecast Period: 2021-2026
What are the major challenges facing the Kuwait HVAC After-Market ?
Kuwait has faced a 50% increase in steel prices from KD 170(USD 561) to KD 254(USD 838) in 16 months, i.e., from February 2020 to May 2021. The HVAC equipment has a heavy requirement of sheet metal for multiple parts of the HVAC system. Steel, being a necessity for spare parts manufacturing, such as sheet metal ducting fabrication and other accessories, the prices for replacement of spare parts would increase push consumers to buy low-quality products imported mainly from China. It creates a challenge for companies to place themselves before the substandard parts and lure consumers for authentic spare parts.
Who are the Key Players Operating in the Kuwait HVAC After- Industry?
The top companies of the Kuwait HVAC After-Market ruling the industry are:
- Johnson Control
- Carrier Kuwait Air Conditioning K.S.C
- Trane
- Daikin Middle East Africa FZE
- SKM Air Conditioning Contracting Co. Ltd.
- United Facility Management
- EFS Facilities Services
- Fawaz Group
- Ecovert FM Kuwait
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What is Included in Kuwait HVAC After-Market Segmentation?
The report has segmented the market into the following categories:
By Type
- Service Retrofit (Strategies include Contracts, Repairs Replacement)
- Spare parts
Of both, Service Retrofit are expected to account for the highest CAGR, i.e., more than 12.7%, during 2021-26. It owes to multiple services offered to consumers, such as Annual Maintenance Contract (AMC), predictive maintenance, on-call servicing, retrofitting for chillers, cites MarkNtel Advisors in their research report, "Kuwait HVAC After-Market Analysis, 2021."
By End User
- Residential
- Healthcare
- Commercial Retail
- Government Transportation
- Hospitality
- Oil Gas
- Others (Education, Industrial, etc.)
By Stakeholder
- OEM
- In-house Maintenance
- Facility Management Companies
By Region
- Al Asimah
- Al Farwaniya
- Hawalli
- Al Ahmadi
- Al Jahra
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Frequently Asked Questions (FAQs)-
- What are the industry's overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- How has the Kuwait HVAC After- industry been evolving in terms of geography adoption?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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