Booming Tourism and Hospitality Sector to Drive Air Conditioners Market in Saudi Arabia through 2022
Diversification in the economy of
Saudi Arabia with rising investments in non-oil based sectors coupled with developing
construction and hospitality & tourism industry is expected to drive Saudi
Arabia air conditioners market through 2022
According to TechSci Research report, “Saudi
Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2012 – 2022”, air
conditioners market in Saudi Arabia is projected to cross $
2.22 billion by 2022, on account of rising development in hospitality and
tourism sectors coupled with booming construction industry. Moreover,
the country experiences extreme climatic conditions, i.e., it has very high
temperature during the day and faces a sudden dip in temperature at night,
which further pushes the need for regulating temperature, hence demand for air
conditioners in Saudi Arabia. Additionally, with the growing investment in
industrial sector, Saudi Arabia air conditioners market is anticipated to witness
higher demand from industrial set-ups in the coming years.
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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 have dominated the Saudi Arabia air conditioners market in
2016, and the segment is expected to dominate during the forecast period as
well. However, VRF air conditioners are likely to witness an increase in demand
during the forecast period, as they help in reducing carbon emissions and that
is boosting their adoption. A large demand for air conditioners emanates from
the commercial sector, which had the largest demand share among all end user segments
in 2016. Further, with the growing investments, the commercial sector is
anticipated to maintain its dominance during the forecast period as well. In
terms of regions, Northern & Central region was the largest revenue
contributor in Saudi Arabia air conditioners market in 2016.
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In 2016, Trane Inc. was the
market leader in Saudi Arabia air conditioners market, followed by Al Salem
York, Toshiba Carrier Corporation, LG Shaker Co. Ltd., Zamil Air Conditioners
Holding Co. Ltd., Fujitsu Ltd., Gree Electrical Appliances Inc., and Samsung
Electronics Co., Ltd. “Development in hospitality and tourism sectors in Saudi
Arabia is expected to offer lucrative opportunities to air conditioner
manufacturers over the next five years. Moreover, with rising concerns among
people regarding the constantly deteriorating air quality, there is an increase
in demand for environment-friendly air conditioners that have in-built air
purifiers. Further, owing to increasing energy consumption in the country, there
is a growing demand for energy-efficient air conditioners, which is contributing
to the overall growth of air conditioners market in the country.” 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, 2012 – 2022” has evaluated the future growth
potential of Saudi Arabia air conditioners market and provides statistics and
information on market structure, size and trends. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in the Saudi Arabia air conditioners market.
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