The size of the Qatar HVAC maintenance service market was USD 243.5 million in 2022, and it will reach USD 389.6 million by 2030, advancing at a rate of 6.1% in the years to come, as per P&S Intelligence. This is because of the steady growth in the HVAC industry, the increasing requirement for AMC services, and the growing construction business.
The cooling category held in excess of 60% revenue share in 2022. Qatar has a subtropical and hot dry desert climate, and experiences hot and humid summers and low yearly rainfall; thus, making it profoundly reliant on HVAC solutions for cooling necessities.
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Also, the Qatari government is implementing new rules for endorsing energy efficiency, leading to the replacement of old cooling systems with further efficient systems, since HVAC has one of the highest energy consumption equipment.
The industry is also booming with the surging demand for AMC services. This is a packaged solution provided by a company involved in the setting up of HVAC in a premise. The requirement for this type of service has grown rapidly in recent years and it will provide profitable prospects to players in the future as well.
End users, including retail stores, hospitals, commercial offices, hotels, and residential buildings, are progressively accepting these services, because of the ease of upkeep of units.
Furthermore, HVAC maintenance service providers are more and more into offering these services to end users for maintaining a continuous flow of revenue, as on-demand has no certainty, while AMC offers workers to set their schedule accordingly. Likewise, it helps users avert possible failures of equipment. Also, commercial users generally prefer AMC services because of the expediency of upholding their systems.
The commercial category is leading the Qatar HVAC maintenance service market, with a share of about 50% in 2022. This is mostly because of the growing requirement for maintenance services in commercial offices and hospitality facilities.
SMEs comprise more than 85% of enterprises in Qatar. Typically, SMEs take care of the small HVAC units fitted on their premises on their own and rent on-demand services only through part replacements. In contrast, large enterprises have agreements (BEMS/AMC) with service providers, where the contract period is between 1 and 5 years.
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On-demand maintenance service was the most used in Qatar in the past, because of the low consciousness of AMC services. Though, recently, the industry experienced an increasing adoption of HVAC PPM, as companies are more and more promoting this service, which offers them incessant workflow and a higher ROI.
Due to the steady growth of the HVAC industry, the HVAC maintenance service in Qatar will increase rapidly over the course of time.
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This release was published on openPR.