Heating & Cooling - Bahrain | Statista Market Forecast

In Bahrain, the revenue generated in the Heating & Cooling market is projected to reach US$64.07m in 2024.
It is expected that the market will experience an annual growth rate of 4.96% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this market segment, with US$126bn in 2024.
In terms of per person revenues, in Bahrain generates US$42.75 in 2024.
In Bahrain, the trend in the Heating & Cooling market is an increasing demand for energy-efficient and eco-friendly technologies.

Definition:

In the segment of Heating & Cooling, the focus lies on various heating and cooling systems which can be found inside buildings. Included in this segment regarding cooling are mainly air conditioners and cooling supplies.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Air conditioners & coolers
Heating systems & heaters
Stoves, fireplaces & chimneys
Heating & cooling supplies

Air treatment devices (purifier, humidifier, etc.)
Ventilators
Solar systems for heating support

The Heating & Cooling market in the DIY & Hardware Store Market in Bahrain nan is experiencing minimal growth, impacted by factors such as declining consumer spending, economic uncertainties, and stiff competition from online retailers. Despite this, the market is expected to see steady growth due to the country's increasing focus on energy efficiency and investments in construction projects.

Customer preferences: As more consumers in Bahrain adopt a DIY approach to home maintenance, the demand for energy-efficient and cost-effective heating and cooling solutions has increased. This trend is further driven by the country's hot climate and rising energy costs. Additionally, there is a growing preference for eco-friendly products and solutions, as environmental awareness gains prominence among Bahraini consumers. As a result, DIY and hardware stores are offering a wider range of options, including smart and sustainable heating and cooling systems, to cater to these evolving preferences.

Trends in the market: In Bahrain, the Heating & Cooling Market within the DIY & Hardware Store Market is experiencing a surge in demand for energy-efficient products, driven by increasing awareness of sustainability and environmental concerns. This trend is expected to continue as the government pushes for stricter regulations on energy consumption. Additionally, with the rise of smart home technology, there is a growing demand for products that can be controlled remotely and offer energy-saving features. This presents opportunities for industry stakeholders to tap into the growing market for eco-friendly and technologically advanced heating and cooling solutions.

Local special circumstances: In Bahrain, the Heating & Cooling Market within the DIY & Hardware Store Market is heavily influenced by the country's hot and dry climate. This creates a high demand for cooling systems, while also making it advantageous for suppliers to introduce energy-efficient and cost-effective heating options. Additionally, the strong cultural emphasis on home maintenance and improvement drives the popularity of DIY home repair and maintenance, leading to a robust market for heating and cooling products in Bahrain's hardware stores. The government's initiatives to promote sustainability and green energy also play a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Bahrain is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The stability of the global economy and the strength of Bahrain's economy have a direct impact on the market's performance. Favorable fiscal policies, including tax incentives for investments in energy-efficient heating and cooling systems, can drive market growth. Similarly, government initiatives to improve the country's energy infrastructure can create opportunities for the market. Additionally, factors such as the rising cost of energy and the increasing awareness towards energy conservation are also driving the demand for energy-efficient heating and cooling solutions in Bahrain.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences: Asia was said to have one of the largest HVAC market sizes, with a larger demand for air conditioners than in other regions. Meanwhile, Italy was one of the European countries with the biggest heat pump markets in 2020. Due to these differences between countries, there is little to no comparative information on this competitive market. In the United States alone, for example, a certain level of fragmentation can be observed, as the number of employees in the plumbing and HVAC industry varied widely from state to state.