The
hospitality sector in the U.A.E. is witnessing considerable growth, owing to
the increase in tourism activities in the country. The rise in the tourism
activities contributed a revenue of $18.6 billion to the national gross
domestic product in 2016 in the country. It is further expected that the
tourism industry will contribute $116.1 billion to the country’s economy.
Several projects are being launched for attracting 20 million tourists to Dubai
by 2020 and 10 million tourists to Sharjah by 2021. In order to cater to the
needs of the rising number of people coming to the country from all the around,
numerous hotels are being built in the country.
This
increasing construction of hotels and other buildings will result in a rising
requirement for heating systems as well. As per a P&S Intelligence report,
the U.A.E. heating equipment market attained a value of $89.5 million in
2019 and is projected to generate a revenue of $121.4 million by 2030,
advancing at a 2.9% CAGR during the forecast period (2020–2030).
Geographically, Dubai created the largest demand for heating equipment in 2019,
owing to the fact that Dubai is the financial hub and tourist center of U.A.E.
Furthermore, on account of Dubai Expo 2020 preparations, there has been a rise
in the construction of buildings and hotels.
Different
types of heating equipment are unitary heaters, heat pumps, boilers, and
furnaces. Out of these, the largest demand during the forecast period is
projected to be created for furnaces. The fastest growth in demand is expected
to be registered for heat pumps in the coming years. This is due to the fact
that heat pumps provide better energy management advantages as compared to
furnaces and boilers.
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Major end users of heating equipment are commercial,
residential, and industrial sectors. Among these, the commercial sector created
the largest demand for heating equipment in the U.A.E. in 2019. The fastest
growth in demand for heating equipment is predicted to be witnessed by the
residential sector.
