U.A.E. Heating Equipment Market To Generate $121.4 Million Revenue by 2030

The U.A.E. heating equipment market will advance at a CAGR of 2.9% during the forecast period (2020–2030) owing to the rising number of construction projects in the transportation sector of the country and expanding hospitality sector of Dubai. According to P&S Intelligence, the market was valued at $89.5 million in 2019, and it will generate $121.4 million revenue by 2030. In recent years, energy-efficient heating systems have become a major trend in the market as they help in reducing greenhouse gas (GHG) emissions.

The heating equipment demand in the U.A.E. is driven by the growth of the hospitality sector in the country. The expansion of the hospitality industry can be attributed to the surging construction of hotels due to the rising tourist activities and ongoing Dubai Expo 2020. Dubai has already welcomed 3.23 million international tourists between January and August 2021. Thus, after the economic and tourist slump induced by the COVID-19 pandemic, heating equipment sales might be on the path to recovering to the pre-pandemic level by the end of this or the next year.

Get More Insights: U.A.E. Heating Equipment Market Segmentation Analysis Report

The type segment of the U.A.E. heating equipment market is categorized into boilers, furnaces, heat pumps, and unitary heaters. Among these, the furnaces category is expected to account for the largest market share in the forecast years. It is further classified into electric, propane, and gasoline. Whereas, the heat pumps category will witness the fastest growth during the forecast period owing to the low cost and better energy management of heat pumps. This category is further classified into water source, ground source, and air source.

Further, the end user segment of the U.A.E. heating equipment market is classified into residential, industrial, and commercial. Under this segment, the commercial category generated the highest revenue in 2019 due to the soaring number of healthcare facilities, hotels and restaurants, and commercial offices and buildings in the country. This category is further divided into government, hospitality, healthcare, office and building, supermarket and hypermarket, transportation, and others, such as banks, convenience stores, cold storage facilities, department stores, educational institutions, and stadiums.

In recent years, leading players in the U.A.E. heating equipment market have collaborated with regional companies to develop new products, to gain a competitive edge. For example, in February 2020, Groupe Atlantic, a company providing heat pumps, water heater solutions, ventilation solutions, and calorifiers, collaborated with Auqaplex to launch energy-efficient water heaters in the Persian Gulf region. Other prominent players focusing on collaborations with regional companies include Johnson Controls International plc, Gree Electric Appliances Inc. of Zhuhai, Daikin Industries Ltd., and United Technologies Corporation.