Rising number of residential and commercial buildings, extreme temperatures and introduction of energy efficient air conditioners to drive Saudi Arabia air conditioners market through 2023
According to TechSci Research report, “Saudi Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2013 – 2023”, Saudi Arabia air conditioner market is projected to surpass $ 1.77 billion by 2023. Growth in the market is anticipated in the coming years, on account of robust distribution network, booming hospitality & tourism sector and rising number of technological advancements in air conditioners. Moreover, Saudi Arabia Vision 2030, which is aimed at bringing huge investments, massive privatization of state assets and transforming the country’s economy into a diversified economy by investing and promoting non-oil based sectors, is further anticipated to positively influence air conditioner market in Saudi Arabia during the forecast period.
Browse 22 market data Tables and 60 Figures spread through 117 Pages and an in-depth TOC on “Saudi Arabia Air Conditioners Market”
On the basis of product type, Saudi Arabia air conditioners market can be broadly categorized into Light Commercial Air Conditioners, VRF, Ductable Splits, Chillers and Others. Light commercial air conditioners dominated Saudi Arabia air conditioners market in 2017, and the segment is expected to dominate during the forecast period as well. However, VRF air conditioners segment is likely to grow at a fast pace during the forecast period owing to their extensive adoption in high rise buildings, shopping complexes, hotels, etc., on account of their high energy efficiency and low carbon emissions. Trane Inc., Al Salem York, Toshiba Carrier Corporation, Zamil Air Conditioners Holding Co. Ltd. and LG Shaker Co. Ltd. are some of the leading players in Saudi Arabia air conditioners market. All these leading players have been increasing their focus on introducing new energy efficient air conditioner models in Saudi Arabia in order to comply with new regulations and meet the growing demand for energy efficient products.
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Northern & Central region is the largest demand generating regions in Saudi Arabia air conditioners market. Northern & Central region includes cities like Riyadh (Capital of Saudi Arabia). which are the country’s commercials hubs and have well-developed distribution network. “Improving economic scenario, growing industrial base, rising construction activities along with emergence of smart homes and building automation systems is likely to steer growth in Saudi Arabia air conditioners market in the coming years. Moreover, with annual rainfall in Saudi Arabia being very scarce and high temperatures prevalent across most part of the calendar year, demand for ACs is forecast to continue growing in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of air conditioner market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Saudi Arabia air conditioners market.
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