Unveiling Growth Prospects: GCC PVC Pipes Trends 2023-2028
MarkNtel Advisors latest report titled GCC PVC Pipes Market Report by GCC PVC Pipes Market Report –Analysis, Scope, Trends, Forecast 2023-2028 indicates that the is projected to grow at a CAGR of around 4.57% during the forecast period, i.e., 2023-28.
GCC PVC Pipes Market Driver:
Significant Driver: Growing Construction within the Hospitality Sector to Generate the Demand
The countries like the UAE, Saudi Arabia, and Oman have emerged as global tourist spots for business tours, leisure tourism, and family functions, as a result of which the country is actively promoting the construction & refurbishing of hotels, lounges, malls, etc. The development of these buildings requires the fittings of PVC pipes to maintain the water supply, the functioning of the HVAC system, and district cooling, thereby generating the demand for these pipes in the country.
In recent years GCC has witnessed global events such as Dubai Expo 2020 & FIFA World Cup, owing to which, the region has experienced a massive influx of visitors for tourism purposes, leading to the construction of new luxury hotels to occupy a large number of visitors. Further, the relaxation of the COVID-19 restriction also played a significant role in expanding tourism within the country. For instance:
In 2022, the government of Dubai stated that between January-March 2022, Dubai observed nearly 4 million visitors compared to around 1.27 million visitors in 2021. Hence, this placed Dubai at 1st rank in global hotel occupancy rate with about 82%.
The growth in the number of visitors resulted in the construction of new hotels & the refurbishment of the existing ones, which, in turn, generated the demand for PVC Pipes to maintain the water supply & plumbing requirements. Further, the construction of new hotels & buildings also required the installation of HVAC & district cooling. The setting up of this centralized cooling system also demands the fitting of these pipes which are thermally more stable & chemical resistant & therefore are ideal for centralized cooling systems. Thus, the building of new hotels & the installation of centralized cooling systems in them generates augmented demand for these pipes, upscaling the sales bar of the market in the coming years.
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GCC PVC Pipes Market Segmentation:
-By Type
-Flexible PVC
-Rigid PVC
-By Application
-Water Supply
-Plumbing
-HVAC
-Wire Cables
-Others (Irrigation, etc.)
-By End User
-Construction
-Oil & Gas
-Healthcare
-Industrial (Manufacturing)
-By Sales Channel
-B2B
-B2C
-Distributor & Dealers
-Online
-By Country
-The UAE
-Saudi Arabia
-Oman
-Kuwait
-Bahrain
-Qatar
Explore the Complete GCC PVC Pipes Market Analysis Report – https://www.marknteladvisors.com/research-library/gcc-pvc-pipes-market.html
Who are the leading key players shaping the GCC PVC Pipes Market landscape?
Polyfab Plastic Industry LLC, Neproplast, Power Group of Companies, Al Gawas Plastic Industries, Super Pipe, Dubai Polymer, Unitech Qatar, Qatar National Plastic Factory W.L.L, Pipes Technology Co. W.L.L, SAPPCO, Others
Questions Addressed in this Study
1.What factors are driving the GCC PVC Pipes Market growth?
2.How is the GCC PVC Pipes Market expected to grow over the next five years?
3.What are the key insights into the current trends in the GCC PVC Pipes Market?
4.What is the current size of the GCC PVC Pipes Market, and how is it projected to change in the future?
6.What is the future outlook for the GCC PVC Pipes Market in terms of technological advancements and market expansion?
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