January 08, 2021
According to a recent research report titled ‘Saudi Arabia Air Conditioner Market Analysis, 2020’, available with Market Study Report LLC, Saudi Arabia air conditioner market size is projected to expand at y-o-y growth rate of 5% over 2020-2025.
Increasing commercialization, along with diversification from an oil-based economy due to rising development of other sectors such as residential, hospitality, commercial, and industrial are the major factors driving Saudi Arabia air conditioner market growth. Further, growing greenfield investments are expected to boost the demand for air conditioners in the country.
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Based on type, Saudi Arabia air conditioner market is fragmented into split AC, window AC, cassette AC, floor standing AC, ducted split AC, packaged AC, and centralized AC. Of these, split AC segment grabbed majority industry share in 2019 and will likely garner strong returns in the upcoming years. The demand for this AC type is creditable to rising establishment of several small corporate offices, retail shops, and retail shops under the Saudi Vision 2030.
Considering the end-user spectrum, Saudi Arabia air conditioner industry is split into residential, retail, commercial buildings, hospitality, healthcare, government & transportation, oil & gas, and others. Among these, the residential, retail, and commercial collectively accounted for highest industry share in 2019 and are poised to amass strong gains over the forecast timeframe. The growth of these segments can be ascribed to rising number of government initiatives aimed towards infrastructure development which has spurred numerous housing projects across the nation.
As per industry experts, companies that account for majority of Saudi Arabia air conditioner market share are Petra Engineering Industries Co., Dallah Trading Co. (Trane), Zamil Air Conditioner Holding Co., Ltd., Daikin Air Conditioning Saudi Arabia LLC, Basic Electronics Co., Ltd., Al Salem Johnson Controls, S.K.M. Air Conditioning LLC, Carrier Saudi Services Company Ltd., Fujitsu General Middle East FZE, and LG Shaker Co., Ltd.