Italian water heater manufacturer Ariston Thermo Group expects Qatar to dominate the heating and hot water market by 2013, the company’s regional manager said on Sunday.
Alberto Torner said that while the year’s political strife and financial uncertainty has impacted business, he remained confident that Qatar would have the largest growth in the Middle Eastern industry over the next two years. He added that he was optimistic over Saudi Arabia's growth as well.
“We’re expecting big growth in Qatar because they have to make everything, infrastructure, residences, and hotels and so on. (Thus) I assume that percentage wise, Qatar will be the biggest mover (in the GCC),” he told MEP Middle East.
“Everybody is expecting Qatar to have a huge growth because of the 2022 World Cup. But of course, as a market, Qatar is still quite small, especially compared to Saudi. Not just because of its larger population, but because of the mega projects the Kingdom is investing in.”
Torner added that in 2010, the total turnover of the Middle East had amounted to $50m. He said that the water heater manufacturer was aiming to repeat that performance in 2011.
Over the last year, the best performing sector for the company has been its range of electric water heaters.
Torner said the company's bread-and-butter products were its water heaters, but it was going to push its heat pumps and solar panels for both big projects and single villas in 2012.
“This is what we’re aiming for. We have one system designer who is working closely with contractors and consultants, in order to provide the full design of the system that they may require in each of their projects,” he said.
“The main product (in 2012) will still be the water heater, because of its cost and because of the cost of electricity in this region. We’re expecting a considerable increase, in terms of double digits, of solar systems, but that’ll be over years,” he added.