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
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Saudi Arabia Air Conditioner Market during 2020-25?
A. The market size of Saudi Arabia Air Conditioner Market during 2020-25 is forecast to be around 5%.
Q. Which End-User would grab the highest market share during 2020-25?
A. It is forecast that the residential, commercial & retail sector grabbed the highest market share in the Saudi Arabian air conditioner market, because of the initiave taken by the government to develop the infrastructure of the country have resulted in the introduction of various housing projects.
Q. Who are the key competitors or players operating in Saudi Arabia Air Conditioner Market?
A. Carrier Corporation, LG Electronics Inc., Johnson Controls Inc., Daikin Industries, Trane Inc., Gree and few others are the leading players in the Saudi Arabia Air Conditioner Market.
Q. Does the report scope cover region wise market statistics also?
A. Yes, the scope of the report encompass detailed region wise statistics such as market size, market segmentation, market overview based on various subcategories.
Q. Which AC Type segment would emerge as an opportunity area for players in Saudi Arabia Air Conditioner Market?
A. The split air conditioners captured a substantial market share in the Saudi Arabia Air Conditioner market in 2019.
