Air Conditioners Sales in Saudi Arabia to Cross US$ 3 billion by 2021
Rising disposable income,
extreme climatic conditions and favourable government policies to drive Saudi
Arabia air conditioners market through 2021
According to TechSci Research
report, “Saudi Arabia Air Conditioners Market By Product Type, Competition
Forecast & Opportunities, 2011 - 2021’’, air conditioners market in
Saudi Arabia is anticipated to surpass US$ 3 billion by 2021, increasing number
of households, growing construction of commercial and residential buildings,
and imposition of government norms to allow sales of only energy efficient air
conditioner technologies that abide by the star labelling system. Growing
disposable income of the working population, various technological innovations in
new air conditioners models, and rapid urbanization are few of the other major
factors fueling growth in Saudi Arabia air conditioners market. In 2015, LG Shaker grabbed the largest market share in Saudi Arabia’s
air conditioners market, followed by Zamil, Gree, Samsung Electronics and
Daikin Air Conditioning Saudi Arabia.
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Major demand for
air conditioners in the country emanates from the Central & West region,
predominantly due to the presence of Riyadh, Madinah and Jeddah. In fact, air conditioner sales in the country are being
driven primarily by cities such as Riyadh, Madinah and Jeddah, due to high
population density and rising number of commercial buildings in these cities. In terms of product category, air conditioners
market in Saudi Arabia is dominated by split air conditioners, which accounted
for a majority revenue share in 2015. Saudi Arabian government plans to build
around 5,00,000 housing units in the country over the next five years by
investing around USD68 billion to ease housing shortage in the country.
Further, ongoing commercial constructions like King Abdul-Aziz International
Airport are expected to drive the demand for air conditioners market in the
Kingdom through the forecast period.
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“With increasing investments being made
by the government in the country’s commercial sector and enforcement of various
energy efficiency labelling standards, the demand for energy efficient air
conditioners in Saudi Arabia is growing at a significant pace. This is expected
to facilitate the country in making significant advances in the overall
electricity consumption over next five years, in addition to air conditioner
sales witnessing an upsurge through 2021.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Air Conditioners Market By Product Type, Competition Forecast & Opportunities, 2011
- 2021’’, has evaluated the future growth potential of Saudi
Arabia air conditioners market and provides statistics and information on
market structure, size and trends of Saudi Arabia air conditioners market. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment evaluation. Besides, the report also identifies
and analyzes emerging trends; consumer behaviour like spending pattern, brand
awareness level, frequency of purchase; essential drivers and key challenges
faced by air conditioners industry in Saudi Arabia.
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