Light Commercial AC Segment to drive Saudi Arabia Air Conditioners Market beyond $ 1.77 billion
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
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Arabia Air Conditioners Market"
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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 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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