GCC: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in GCC

The GCC air conditioning machine market dropped to $X in 2022, falling by -8.9% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Air Conditioning Machine Production in GCC

In value terms, air conditioning machine production dropped modestly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +21.7% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 66% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Air Conditioning Machine Exports

Exports in GCC

In 2022, the amount of non-window or wall air conditioning machines exported in GCC contracted significantly to X units, which is down by -21.9% on 2021 figures. Overall, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 103% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports fell to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 85% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X units, which accounted for 60% of total exports. Bahrain (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (14%). Kuwait (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the non-window or wall air conditioning machines exports, with a CAGR of +15.5% from 2012 to 2022. At the same time, Kuwait (+4.5%), Bahrain (+2.9%) and Saudi Arabia (+1.9%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates increased by +30 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest air conditioning machine supplier in GCC, comprising 62% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 16% share of total exports. It was followed by Saudi Arabia, with a 15% share.

In the United Arab Emirates, air conditioning machine exports expanded at an average annual rate of +13.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (+2.2% per year) and Saudi Arabia (+1.7% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, growing by 12% against the previous year. Overall, the export price, however, showed a slight decline. The growth pace was the most rapid in 2015 when the export price increased by 37% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.7%), while the other leaders experienced a decline in the export price figures.

Air Conditioning Machine Imports

Imports in GCC

In 2022, approx. X units of non-window or wall air conditioning machines were imported in GCC; which is down by -22.9% compared with the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, air conditioning machine imports reduced sharply to $X in 2022. Over the period under review, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units), distantly followed by Kuwait (X units), Qatar (X units), Oman (X units), Bahrain (X units) and Saudi Arabia (X units) represented the key importers of non-window or wall air conditioning machines, together committing 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bahrain (with a CAGR of +8.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported non-window or wall air conditioning machines in GCC, comprising 35% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 17% share of total imports. It was followed by Qatar, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -2.8%. In the other countries, the average annual rates were as follows: Saudi Arabia (-5.7% per year) and Qatar (-2.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, with an increase of 8.7% against the previous year. In general, the import price, however, showed a noticeable decline. The pace of growth was the most pronounced in 2015 when the import price increased by 30% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform