Air Conditioner Market in Saudi Arabia to Cross $ 3.4 Billion by 2022: TechSci Research Rep

NEW YORK - Jan. 23, 2018 - PRLog -- According to TechSci Research report, "Saudi Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2012 – 2022", the country's air conditioners market is projected to surpass $ 3.4 billion by 2022. Growth in the market is attributed to extremely high temperatures during peak summer season, coupled with rising demand from residential, commercial and hospitality sectors of the country. Over the last decade, the country has witnessed a significant rise in the number of international as well as domestic tourists. According to World Travel and Tourism Council, in 2016, the tourism industry in Saudi Arabia accounted for 3.3% of the total GDP. This has prompted the government to increase its focus on the hospitality sector by setting up more hotels and leisure destinations, thereby creating more demand for air conditioners. Moreover, construction projects worth $ 1.1 trillion in the country, according to MEED Projects, continue to be among the major demand drivers for air conditioners in Saudi Arabia.

Browse 21 market data Tables and 53 Figures spread through 101 Pages and an in-depth TOC on   "Saudi Arabia Air Conditioners Market"

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LG Shaker Co. Ltd., Zamil Air Conditioners Holding Co. Ltd., Gree Electrical Appliances Inc., Samsung Electronics Co. Ltd., Daikin Air Conditioning Saudi Arabia LLC are the five leading air conditioner players operating in Saudi Arabia. In terms of regions, Western region has dominated the market with over one-third of the market share in 2016. The region is expected to generate significant demand for air conditioners in the coming years as well, and thereby anticipated to remain dominant through 2022 on account of high population, increasing tourist footfall, and rising investments for the upcoming commercial projects in the region.

Based on product type, Saudi Arabia air conditioners market can be broadly categorized into Light Commercial air conditioners, VRF, Ductable Splits, Chillers and Others. Light commercial air conditioners dominated the market in 2016 due to their extensive applications in commercial as well as residential sectors. "With booming construction activities, growing hospitality sector and prevalence of extreme weather conditions in the country, demand for air conditioners is expected to continue exhibiting a growing trend in Saudi Arabia over the next five years. Moreover, introduction of increasingly innovative product offerings and rising consumer inclination towards adopting energy efficient air conditioners is expected to positively impact the market demand in the foreseeable future." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Saudi Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2012 – 2022" has evaluated the future growth potential of Saudi Arabia air conditioners market and provides statistics and information on market structure, size and trends. 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 the Saudi Arabia air conditioners market.

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