Saudi Arabia Air Conditioner Market (2020-2026) | Share, Leader, Size, Growth, Revenue, Analysis, Forecast, Trends, industry, Outlook & COVID-19 IMPACT

Latest Development (2022) in Saudi Arabia Air Conditioner Market

Saudi Arabia Air Conditioner Market is expected to gain momentum during the upcoming years on account of increasing disposable income. Rising temperature coupled with surging levels of humidity is driving the growth of the market. Moreover, surging growth in the infrastructure sector along with increasing development in the construction industry is also adding to the development of the market. Increasing development in energy efficient and smart air conditioning systems is driving the Saudi Arabia Air Conditioner Market Growth. The emission of less noise along with the growing need for advanced technology is adding to the development of the market.

Saudi Arabia Air Conditioner Market Synopsis

Saudi Arabia Air Conditioner Market report thoroughly covers the market by types, applications, and regions. The Saudi Arabia air conditioner market outlook report provides an unbiased and detailed analysis of the Saudi Arabia air conditioner market trends, opportunities high growth areas, and market drivers which would help the stakeholders device and align their market strategies according to the current and future market dynamics.

Saudi Arabia Air Conditioner Market is projected to register steady growth over the coming years on account of shifting focus towards non-oil sectors in the country, which is anticipated to drive development in the areas of retail, transportation, entertainment & leisure, and hospitality during the forecast period. Furthermore, an increasing number of residential units owing to rising government investments aimed at providing people with affordable housing is expected to augment the demand for air conditioners over the coming years.

According to 6Wresearch, Saudi Arabia Air Conditioner Market size is projected to grow at a CAGR of 1.5% during 2020-2026. Efforts to reduce the dependence on the oil sector are expected to augment the country’s spending on infrastructure development during the forecast period (2020-2026). The ambitious Saudi Vision 2030 plan to improve the country’s economy would drive the air conditioner market, especially in the residential and commercial sectors. Moreover, smart air conditioners and ACs with high energy efficiency ratings are gaining popularity on account of increasing concerns about the cost of electricity and sustainability in the country. Additionally, the annual Hajj pilgrimage to Mecca in Saudi Arabia significantly propels the demand for air conditioners as pilgrims from all over the world travel to the temporary tent city of Mina and stay in air-conditioned tents. However, the ban of international pilgrims from Hajj in 2020 to prevent the spread of coronavirus is expected to hinder the demand for air conditioners in 2020. Additionally, the slowdown of commercial, hospitality, and retail sectors due to coronavirus is anticipated to further hinder the air conditioner market during the health emergency.

Market Analysis By Types

In Saudi Arabia, the centralized air conditioner segment captured the majority of the market revenue share in 2019, and would also lead during the forecast period, where the VRF segment is expected to witness substantial growth over the forecast period. Over the coming years, applications such as hospitality and retail sectors are projected to grow at a relatively higher rate on the back of policies and investments by the government to bolster the tourism and hospitality sectors. The central region currently holds the major revenue share in the overall Saudi Arabia air conditioner market on account of infrastructural developments and the relatively high disposable income of people in cities such as Riyadh. Moreover, the western region is expected to register significant growth over the coming years owing to the development of hotels and restaurants in Mecca and Medina.

Market Analysis By End Users

Based on end users, the hospitality and commercial & retail segments dominated the overall market revenues in 2019 and are projected to witness the highest growth in demand for air conditioners on the back of the development of several infrastructural projects such as King Abdullah Economic City and Jazan Economic City. Additionally, growing demand for new hotels, especially, medium budget hotels over the coming years, driven by the government measures to ease tourist visa restrictions by expediting the issue of e-visas and visas on arrival for tourists from 49 countries, would propel the demand for air conditioners in the country’s hospitality sector during the forecast period. The suspension of e-visas, to limit the spread of coronavirus, would hinder the demand for air conditioners arising from the hospitality sector in 2020. However, the resumption of the issuance of visas after the crisis is effectively dealt with would augment the demand for air conditioners in the country.

COVID-19 Impact on Saudi Arabia Air Conditioner Market

The outburst of the coronavirus pandemic has disrupted the growth of the industry owing to disruption in the supply chain. The nationwide lockdown and restrictions imposed by the government on the company put a halt to production activities. 

Key Players in the Market

Some of the key players in Saudi Arabia's Air Conditioner market are:

• Johnson Controls International plc.
• LG Electronics Inc.
• Gree Electric Appliances Inc. 
• Trane Technologies plc.
• Danfoss A/S.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects

Key Highlights of the Report:

• Historical Data of Saudi Arabia Air Conditioner Market Revenues and Volume for the Period 2016-2019
• Market Size and Forecast of Saudi Arabia Air Conditioner Market Revenues and Volume until 2026
• Historical Data of Saudi Arabia Room Air Conditioner Market Revenues and Volume for the Period 2016-2019, By Types
• Market Size and Forecast of Saudi Arabia Room Air Conditioner Market Revenues and Volume until 2026, By Types
• Historical Data of Saudi Arabia Ducted Air Conditioner Market Revenues and Volume for the Period 2016-2019, By Types
• Market Size and Forecast of Saudi Arabia Ducted Air Conditioner Market Revenues and Volume until 2026, By Types
• Historical Data of Saudi Arabia Ductless Air Conditioner Market Revenues and Volume for the Period 2016-2019, By Types
• Market Size and Forecast of Saudi Arabia Ductless Air Conditioner Market Revenues and Volume until 2026, By Types
• Historical Data of Saudi Arabia Centralized Air Conditioner Market Revenues for the Period 2016-2019, By Components
• Market Size and Forecast of Saudi Arabia Centralized Air Conditioner Market Revenues until 2026, By Components
• Historical Data of Saudi Arabia Air Conditioner Market Revenues for the Period 2016-2019, By Applications
• Market Size and Forecast of Saudi Arabia Air Conditioner Market Revenues until 2026, By Applications
• Historical Data of Saudi Arabia Air Conditioner Market Revenues for the Period 2016-2019, By Regions
• Market Size and Forecast of Saudi Arabia Air Conditioner Market Revenues until 2026, By Regions
• Market Drivers and Restraints
• Recent Market Trends
• Players Market Share
• Company Profiles
• Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types:

• Window
• Split
  

• Ceiling Concealed
• Rooftop Packaged

• Cassette
• Floor Standing
• Ceiling Suspended

• • VRF
  • AHU/FCU
  • Chiller
  • Others (Condensing Units and Evaporator Coils)
  • Room AC
  • Ducted AC
  • Ductless AC
  • Centralized AC

By Applications:

• Residential
• Commercial Offices & Retail
• Healthcare
• Transportation
• Oil & Gas
• Hospitality
• Others (Education and BFSI)

By Regions:

• Central
• Southern
• Western
• Eastern