The growing commercialization, along with the diversification of the economy due to extensive development in sectors such as residential, commercial, hospitality, and industrial are a few of the factors expected to drive the Saudi Arabia Air Conditioner market growth through 2025. Moreover, the rising greenfield investments in the country would positively impact the demand for air conditioners in the country in the coming future.
According to the MarkNtel Advisors’ research report titled “Saudi Arabia Air Conditioner Market Analysis, 2020”, the Air Conditioner market is anticipated to register a CAGR of around 5% during 2020-25. The split air conditioner segment captured the highest share in the Saudi Arabia Air Conditioner market in 2019. The maximum share is attributed to the establishment of various residential buildings, small corporate offices, and retail shops under the Saudi Vision 2030. Moreover, several companies such as Samsung and Trane are discontinuing the production of the window air conditioner segment.
Moreover, the residential, commercial & retail sectors acquired the highest market share in the Saudi Arabia Air Conditioner market in 2019. The increased initiatives by the government to develop the infrastructure of the country have resulted in the introduction of various housing projects. Hence, this factor is anticipated to boost the demand for air conditioners in the country.
As per MarkNtel Advisors’ study, the companies that have captured a significant market share in the Saudi Arabia Air Conditioner market include LG, Fujitsu General, Carrier, S.K.M. Air Conditioning, Al Salem Johnson Control, etc. The companies are increasingly introducing new products to gain a competitive edge in the industry.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Revenue, Forecast Numbers, Market Segmentation, Market Shares) of Saudi Arabia Air Conditioner Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Saudi Arabia Air Conditioner Market?
4. Who are the key competitors or market players and how they perform in Saudi Arabia Air Conditioner Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Saudi Arabia Air Conditioner Market study