Quadintel’s recent global “ Saudi Arabia Air Conditioner Market “ research report gives detailed facts with consideration to market size, cost revenue, trends, growth, capacity, and forecast till 2030. In addition, it includes an in-depth analysis of This market, including key factors impacting the market growth.
This study offers information for creating plans to increase the market’s growth and effectiveness and is a comprehensive quantitative survey of the market.
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Market Definition
Forced air systems are machines that eliminate warm air from a characterized region and supplant it with cooler air through a refrigeration cycle.
Insights into the Market During the Forecast Period (from 2023 to 28), the Saudi Arabia Air Conditioner Market is anticipated to expand at a CAGR of approximately 5%. One of the few factors that is anticipated to drive the Saudi Arabia Air Conditioner market growth through 2028 is the expanding commercialization of the country as well as the diversification of the economy as a result of extensive development in the residential, commercial, hospitality, and industrial sectors. Additionally, this trend toward infrastructure development has attracted significant government and private market investment, resulting in an increase in the number of air conditioner installations over the next few years.
For instance, the first-ever “wind-free” wall-mounted air conditioner was introduced in 2018 at the HVACR Expo and was going to be built in Jeddah. In addition, the country’s growing demand for air conditioners would benefit from rising greenfield investments. Additionally, the government’s active involvement in the allocation of funds for an affordable housing facility has increased the number of residential units, resulting in increased air conditioning sales throughout the nation.
However, as a result of the pandemic, Saudi Arabia’s overall economic expansion was hampered by the government’s ban on international pilgrims, which in turn restricted the expansion of the air conditioner industry.
On the other hand, initiatives like Saudi Vision 2030, which were created with the intention of reviving the faltering economy, have the potential to further boost the kingdom’s economy. They also swiftly hint at additional improvements to Saudi Arabia’s infrastructure in the years to come. Between 2023 and 28, there may be a need for more energy-efficient and intelligent air conditioners due to these substantial advancements and growing concerns about sustainability, particularly in the commercial and residential sectors.
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Key driver:
Market Dynamics Integration of Smart and Energy-Efficient Technology A lot of customers are switching to smart and energy-efficient technology to save energy and be more environmentally friendly. The inbuilt system has gained popularity over conventional ones because of its improved monitoring and smart thermostats, which allow for better temperature variability and cleaner air. A mobile app also lets users keep track of these systems’ performance in real time. The trend toward energy-efficient and cutting-edge air conditioners has accelerated over the past few years and is likely to propel the industry forward over the forecast period, supported by these advantages.
Learning experience:
Growing Interest in Religious Tourism in the Kingdom The Kingdom’s rapidly expanding interest in religious tourism has brought in a significant amount of money for a variety of projects that are related to it. Consequently, ongoing initiatives include the $26.6 billion expansion of Mecca’s Grand Mosque and the $16.5 billion Haramein high-speed rail link between Mecca and Medina.
These improvements are intended to boost religious tourism in the nation, with 25 million visitors expected annually by 2025. As a result, the major players that will have an impact on the AC installation in the coming years are likely to use religious tourism as an opportunity.
Window AC Split AC Cassette AC Packaged AC Ducted Split AC Centralized AC Other (Floor Standing/Portable AC, etc.) Type-Based Market Segmentation
The Split Air Conditioner had the highest historical share of the Saudi Arabian Air Conditioner Market compared to its competitors. The Saudi Vision 2030’s establishment of various residential buildings, small corporate offices, and retail shops represents the category’s highest claim. There were a lot of these buildings that needed split air conditioning installed.
In addition, a number of businesses, including Samsung and Trane, are ceasing production of window air conditioners, increasing demand for split air conditioners for residential use. For instance, Airedale received a contract worth $1.26 million in January 2019 to supply air conditioning systems for the Saudi Arabian Riyadh Metro, which is still under construction. The EasiCool line units for the 85-station, 176-kilometer Riyadh Metro will be supplied by the company.
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Based on End User, Residential Commercial Buildings Retail Health Care Hospitality Government & Transportation Oil & Gas Others
The residential, commercial, and retail sectors of the industry gained the majority of the market share in 2022. Additionally, the demand for air conditioners has recently increased as a result of extensive government initiatives to improve the country’s infrastructure, such as King Abdullah Economic City and Jazan Economic City, as well as numerous housing projects.
However, it is anticipated that this demand will raise the cost of air conditioners in the hospitality sector of the nation. In addition, there will be an increase in demand for new hotels in the coming years, particularly medium-budget hotels, as a result of the authority’s efforts to ease restrictions on travel visas by making it easier to issue e-visas and visas on arrival to visitors from 49 nations.
The Saudi Standards, Metrology, and Quality Organization (SASO) published the minimum energy consumption performance, labeling, and testing standards for low-number window and single split air conditioners in 2021, along with a timetable for their implementation. This one aims to completely replace SASO 2663:2018.
The accompanying subtleties should likewise be on the new energy mark of the forced air system:
The SEER value (BTU/WH) level of the seasonal energy efficiency ratio (SEER).
Recent Changes in the Saudi Arabia Air Conditioner Market LG Electronics and Al Hassan Ghazi Ibrahim Shaker Co., Saudi Arabia’s leading importer, manufacturer, and distributor of air conditioners and home appliances, expanded their long-term strategic partnership in December 2022 through a new supply agreement. The arrangement covers TVs, coolers, clothes washers, dryers, dishwashers, microwaves, and something else for the Saudi market.
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