The current Kuwait HVAC After market research report provides a comprehensive overview of various variables that influence the business portfolio, future outlook, present crisis analysis with significant innovations, and product & service segmentation. The research analyzes key statistics on market size, major drivers, growth opportunities & challenges, competitive analysis, and revenue share of leading corporations/industries/companies, namely –
-Carrier Kuwait Air Conditioning K.S.C
-Daikin Middle East & Africa FZE
-SKM Air Conditioning & Contracting Co. Ltd.
-United Facility Management
-EFS Facilities Services
-Ecovert FM Kuwait
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According to the research report, the Kuwait HVAC After Market is expected to expand at a CAGR of 12.7% during 2021-26.
Market Definition: HVAC after-market is the industry providing after-sales services, such as repair, maintenance, spare parts, etc., for the HVAC systems installed. Stakeholders like OEMs, Facility Management Companies, and In-house Maintenance play a crucial role in the market.
Key Drivers: To avoid the sudden breakdown of HVAC systems, the customers have now been focusing on the preventive maintenance of the tools & equipment. Since the swift working of HVAC systems being crucial in Kuwait weather conditions, periodic servicing is also essential. The pressing need for seamless HVAC systems has led to customers being active in system servicing, replacements, retrofitting, etc., thereby driving the market.
Growth Challenges: 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
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The Market segments are cited below:
Market Divided into, By Type
-Service & Retrofit (Strategies include Contracts, Repairs & Replacement)
Market Divided into, By End User
-Commercial & Retail
-Government & Transportation
-Oil & Gas
-Others (Education, Industrial, etc.)
Market Divided into, By Stakeholder
-Facility Management Companies
Regional Landscape includes North America, South America, Europe, Middle East & Africa, Asia- Pacific
Country Level Segmentation is as follows: The US, Canada, Mexico, Brazil, Argentina, Germany, Italy, The UK, France, Russia, Saudi-Arabia, UAE, South Africa, China, India, Australia, Japan
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Key Citations of the Research Report:
-Influential parameters driving or constraining Market growth
-The Market’s response to the Covid-19 pandemic
-A thorough examination of the Market’s shifting dynamics
-Assists in determining the profitability by providing thorough insights & assessments of -various segments of the Market
-Key strategies adopted by market leaders to maintain their position in the Market
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