Increasing construction and infrastructure development activities, growing demand for energy-efficient HVAC systems, expanding tourism sector and Saudi Vision 2030 to drive HVAC market in Saudi Arabia through 2023
According to TechSci Research report, “Saudi Arabia HVAC Market By Type, By End User, Competition Forecast & Opportunities, 2013 – 2023”, Saudi Arabia HVAC market is projected to surpass $ 2.7 billion by 2023. Growth in the market is anticipated on account of technological advancements, robust and expanding distribution network, and growing construction activities in the country. Additionally, Saudi Vision 2030, which is aimed at bringing huge investments, massive privatization of state assets, and spending and subsidy cuts, is expected to positively influence the country’s HVAC market during the forecast period. Direct expansion systems segment dominates Saudi Arabia HVAC market, as these systems are available with smart technologies, such as smartphones, for controlling the HVAC devices through Wi-Fi.
Browse 12 Tables and 31 Figures spread through 90 Pages and an in-depth TOC on “Saudi Arabia HVAC Market”
Trane Inc., Carrier, Johnson Controls International PLC and LG Shaker are some of the leading players operating in Saudi Arabia HVAC market. Favorable government rules and regulations, hot and arid climatic conditions requiring HVAC systems to be highly efficient in cooling as well as energy consumption, and adoption of western culture are some of the driving factors in the country’s HVAC market. Northern & Central and Western regions are the largest demand generating regions in HVAC market in Saudi Arabia. Northern & Central region includes cities like Riyadh (Capital of Saudi Arabia), which have well developed distribution network, while Western region includes cities such as Jeddah, Mecca, and Madinah, which are witnessing increasing demand for HVAC systems due to rising tourism, extreme climatic conditions, growing infrastructure investments and increasing government spending.
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“Implementation of zero-energy systems, increasing shift towards green technology adoption, continuous development in supply chain network, changing consumer preferences and increasing adoption of smart technologies are anticipated to drive HVAC market in Saudi Arabia in the coming years. Further, increasing population and per capita income levels, coupled with growing tourism sector would also provide growth opportunities to HVAC manufacturers and suppliers in the country through 2023.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia HVAC Market By Type, By End User, Competition Forecast & Opportunities, 2013 – 2023’” has evaluated the future growth potential of HVAC market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Saudi Arabia HVAC market.
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