Saudi Arabia Air Conditioner Market (2020-2026): Market Forecast By Types, By Applications, By Regions And Competitive Landscape

Efforts to reduce the dependence on the oil sector is expected to augment the country’s spending towards infrastructure development during the forecast period (2020-2026)

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, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Saudi Arabia Air Conditioner Market Synopsis

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. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of Saudi Arabia, thus, restraining the growth of the Air Conditioner market as well.

According to the publisher, the 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 is expected to augment the country’s spending towards 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 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 has 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 issuance of visas after the crisis is effectively dealt with would augment the demand for air conditioners in the country

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:

• Room AC
  • Window
  • Split

• Ducted AC
  • Ceiling Concealed
  • Rooftop Packaged
• Ductless AC
  • Cassette
  • Floor Standing
  • Ceiling Suspended
• Centralized AC
  • VRF
  • AHU/FCU
  • Chiller
• Others (Condensing Units and Evaporator Coils)

By Applications:

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

By Regions:

• Central
• Southern
• Western
• Eastern