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The major factors contributing towards the growth of the Saudi Arabia Air Conditioner market include the significant shift in the climatic conditions, the increasing investment in the development of infrastructure across Saudi Arabia, and the increasing government focus on economic diversification. The Saudi Arabian government is heavily investing in different ongoing and upcoming projects such as Saudi Arabia Vision 2030, Neom, Qiddiya, and the development of Jeddah tower, which will accelerate the demand for air conditioners, especially in the residential and commercial sector, over the coming years. Saudi Arabia Vision 2030 aims to enhance the economy by expanding the hospitality and tourism sector in the country. Moreover, the rapid infrastructural development in major Saudi Arabian cities such as Riyadh, Jeddah, and Makkah, will provide enormous growth opportunities for air conditioner companies to provide advanced air conditioning solutions to the target customers in these cities.
The increasing number of housing units, along with the expansion of commercial and institutional spaces, will further complement the growth of the market in this region. With the adoption of modern lifestyle and high disposable income, the consumer’s preference has significantly shifted towards the luxury housing products across Saudi Arabia. This changing demand of customers coupled with the continuous rise in the temperature of Saudi Arabia will attract a large number of consumers towards the Air Conditioner market in the country. On the other hand, the regular maintenance cost of the air conditioners will hamper the growth of the Saudi Arabia Air Conditioner market over the coming years.
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An Air Conditioner is a machine that handles air in a defined covered area through a refrigeration cycle in which warm air is removed and replaced with cooler air. An Air Conditioner eliminates the heat and moisture from the interior of an occupied space and makes the space cooler during extreme temperatures. Residential, commercial, and industrial end-users widely use the air conditioners. Various types of air conditioners are available in the market, including central air conditioners, mini-split air conditioners, window units, and hybrid air conditioners.
Read Full Report Description: Saudi Arabia Air Conditioner Market By Type (Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers, and Others), By End-User (Residential, Commercial, Industrial, and Automotive), By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online and Others) – Opportunities and Forecast, 2019-2026 https://www.gmiresearch.com/report/saudi-arabia-air-conditioning-ac-market/
Based on the type, the VRF systems segment is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for energy-efficient air conditioners among the target consumer to save energy and cost. The VRF system allows temperature control, easy installation, heating & cooling simultaneously and is cost-efficient with modular designs.
Based on the End-User, the commercial segment is expected to grow at a higher CAGR during the forecast period. The increasing commercial infrastructure projects across Saudi Arabia including the smart city project Neom, the Red Sea Project, Amaala, Qiddiya entertainment city, Jeddah Tower, King Abdulaziz Center for World Culture, Urban Heritage Administration Centre, and Makkah Museum, which will drive the demand for air-conditioner due to extreme climate conditions across the country.
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Based on the distribution channel, the online segment is projected to grow at a higher CAGR during the forecast period owing to the easy availability of a wide range of products along with doorstep delivery and different mode of payment options such as cash on delivery, credit card, and debit card. In addition to this, the online distribution channel provides an easy comparison between different products with attractive discount offers, thereby boosting the demand for the Air Conditioner market in Saudi Arabia.
Various notable players operating in the Saudi Arabia Air Conditioner market include AHI Carrier FZC, Al Salem Johnson Controls (York), Daikin Air Conditioning Saudi Arabia LLC, Fujitsu General (Middle East) FZE, GREE Electric Appliances Inc., LG Electronics Gulf FZE, Mitsubishi Electric Corporation, S.K.M Air Conditioning LLC, Trane Inc., Samsung Saudi Arabia, Zamil Air Conditioner (ZAC), Airedale Air Conditioning, among others.
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The Saudi Arabia Air Conditioner market has been segmented based on Type, End-User, and Distribution Channel. Based on the Type, the market is segmented Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers, and Others. Based on the distribution channel, the market is segmented into Re Specialty Stores, Supermarkets/Hypermarkets, Online, and Others.
Market Segmentation
Saudi Arabia Air Conditioner Market by Type
Saudi Arabia Air Conditioner Market by End-User
Saudi Arabia Air Conditioner Market by Distribution Channel
Saudi Arabia Air Conditioner Market Leading Players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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