Posted On: 2021-03-23
Galvanized steel acquired the largest revenue share among all air duct material types in the overall Saudi Arabia air duct market – 6Wresearch
Rising industrial and logistics development, construction of energy-efficient and eco-friendly buildings coupled with growing infrastructural development in Saudi Arabia are the key factors driving the demand for air duct market in the country. Initiatives and projects under Vision 2030 aimed at reducing the country’s dependence on oil, are expected to augment the non-oil sectors including hospitality, commercial and residential sectors, which is anticipated to be another factor driving the growth of air duct market in the country in near future. Moreover, high energy efficiency requirements, increasing concerns about the cost of electricity and sustainability in the country would further drive the demand for sustainable building designs which would further augment the demand for air ducts in Saudi Arabia.
According to 6Wresearch, Saudi Arabia air duct market revenue size is projected to grow at a CAGR of 9.4% during 2021-2027. The demand for air ducts in the kingdom is driven by the upcoming infrastructure projects and government programs as the country seeks to diversify its economy away from oil. The growing hospitality and residential sectors are anticipated to propel the demand for air ducts during the forecast period owing to increasing cooling and ventilation requirements in new infrastructure projects. However, due to COVID-19, a nationwide lockdown was imposed, which interrupted the production and hindered the demand for air ducts. Also, a downfall in the hospitality sector along with low construction activities of hotels, restaurants, and guest houses has led to a decline in the demand for air ducts in the country. Although, the air duct market is projected to grow at a healthy rate in the coming period as the economy resumes normalcy.
According to Eshita Goel, Research Analyst, 6Wresearch, “Among all material types, galvanized steel acquired the highest revenue share in the overall air duct market in Saudi Arabia in recent years and is expected to maintain its dominant position over the coming years as well, on account of its durability and affordability. Growing demand for cold storage in the food and beverage industry in Saudi Arabia would also drive the demand for galvanized steel air ducts during the forecast period, in order to maintain relatively safe indoor air quality in the cold storage units in the country.”
“Aluminum air ducts are relatively light and easy to install, which makes them suitable for residential and certain commercial applications in Saudi Arabia where centralized air conditioning is used. Thus, with upcoming developments in the residential and the commercial sector, the aluminium air ducts market revenues are projected to witness substantial growth during the forecast period.”, Eshita further added.
“Saudi Arabia Air Duct Market (2021-2027)” report provides an in-depth analysis with 21 figures and 12 tables, covered in 87 pages. The report estimates and forecasts the overall Saudi Arabia air duct market by material types, shape types, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.