The expansion of the construction industry is one of the biggest factors responsible for the soaring demand for heating, ventilation, and air conditioning (HVAC) services in Qatar. Moreover, with the sharp surge in infrastructural development and construction activities, the HVAC industry is exhibiting rapid expansion in the country. The industry is predicted to grow at nearly 7.7% rate between 2018 and 2023. Furthermore, the construction industry registered a year-on-year growth of 20% from 2017 to 2018.
The industry was being driven by Qatari government’s National Vision 2030, under which, the government plans to develop non-oil sectors in the country in order to reduce the country’s reliance on the oil and gas industry and to develop infrastructure for hosting the FIFA World Cup 2022. Some of the major construction projects launched recently in the country are Sheraton Park (2016), Hamad International Airport (2014), and Sidra Medical Research Centre (2018).
The country also hosted the World Athletics Championships in 2019, which created lucrative growth opportunities for the HVAC maintenance service providing organizations in the country. This event attracted a large number of tourists and was responsible for the construction of several new hotels and resorts. Moreover, it fueled the expansion of the tourism and hospitality sector and the food and beverage industry in the country. This pushed up the demand for HVAC systems and associated maintenance services in the country.
Due to the aforementioned factors, the Qatar heating, ventilation, and air conditioning (HVAC) maintenance service market is demonstrating rapid expansion. Out of the heating, ventilation, and cooling systems, the sales of the cooling systems were found to be the highest in the country in the past years. Variable refrigerant flow (VRF), split units, room ACs, ducted split/packaged units, and chillers are the most widely used cooling systems in the country.
Amongst these, demand for the maintenance of ducted split/packaged units was the highest during the last few years. Depending on end-user type, the Qatar HVAC maintenance service market is divided into residential, industrial, and commercial (commercial buildings/offices, supermarkets/hypermarkets, and healthcare, transportation, government, and hospitality organizations) categories. Amongst these, the commercial category recorded the highest growth in the market in the years gone by, due to the huge requirement for HVAC maintenance services in commercial buildings and offices in the country.
On the other hand, in the future years, the hospitality sector will exhibit rapid expansion in the Qatar HVAC maintenance service market, as per the estimates of the market research company, P&S Intelligence. As the country prepares for the FIFA World Cup 2022 and Vision 2030, the hospitality industry will exhibit unprecedented growth. According to reports, the country will witness the construction of 62 hotels, including 7-star, 5-star, and 4-star hotels, and 13,733 guestrooms in the coming years.
Hence, it can be said with full surety that the demand for HVAC maintenance services will shoot-up in Qatar in the coming years, primarily because of the soaring usage of HVAC systems and the boom in the country’s construction and hospitality industries.
The global silicon carbide market size is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1% over the forecast period, according to a new report by Radiant Insights, Inc.
The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon makes it suitable in applications such as automotive and aerospace and defense industries.
Increasing production of automobiles is anticipated to fuel the product demand over the coming years.
Key market players Carborundum Universal Limited; Entegris, Inc.; AGSCO Corporation; Dow Chemical Co.; ESD-SIC b.v.; Saint Gobain Ceramic Materials GmbH; ESK-SIC GmbH; and Grindwell Norton Ltd.
In the expansion project, new tooling, molding machines, and numerous updates to the assembly area were installed to support the increasing silicon carbide wafer and reticle handling demand.
Silicon carbide is used as a deoxidizing agent, abrasive, and refractory in the steel industry • Electrical and electronics is among the fast growing segments with a CAGR of 10.8% in terms of volume from 2020 to 2027.
