Saudi Arabia HVAC R Market By Region (Northern & Central, Western, Eastern and Southern), Competition, Forecast & Opportunities, 2024-2032
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSaudi Arabia HVAC R Market By Region (Northern & Central, Western, Eastern and Southern), Competition, Forecast & Opportunities, 2024-2032
Saudi Arabia HVAC R Market Overview
Saudi Arabia HVAC R market stood at $ 3.7 billion in 2018 and is projected to grow at a CAGR of 11.9% during 2019-2024 to reach $ 7.1 billion by 2024, owing to growing demand from residential building construction and tourism industries. Moreover, increasing need to reduce food wastage is expected to aid the refrigeration market in Saudi Arabia. To cater the increasing demand for HVAC R systems, market players are expanding their product portfolio in the country.
Saudi Arabia HVAC Market Segment Insights
In terms of end-user, Saudi Arabia HVAC market has been categorized into residential, commercial real estate, institutional, power, oil & gas, marine & offshore and others. Of the above end-users, residential and commercial real estate categories are anticipated to account for more than 50% market share, on account of increasing smart building construction and commercial registrations in different cities of Saudi Arabia. Furthermore, Saudi Arabia HVAC market is segmented by product type, namely direct expansion and central air conditioning, with direct expansion system capturing the largest chunk of the market in 2018. Due to the factors such as low installation cost, low noise, and low energy consumption, direct expansion system is expected to lead the market during the forecast period.
Saudi Arabia HVAC R Market Regional Insights
Northern & Central region is expected to exhibit the fastest growth in Saudi Arabia HVAC R market during 2019-2024, on the back of increasing demand for HVAC R systems from growing residential and commercial sectors in areas such as Riyadh and Eastern Region. However, alarming pollution levels and stringent laws launched by the government to curb pollution are expected to hinder market growth in the coming years.
Saudi Arabia HVAC R market Competitive Landscape
Saudi Arabia HVAC R market is highly competitive and fragmented in nature. Few of the major companies operating in the market are Trane Inc., Johnson Controls International PLC (Al Salem York), Carrier, LG Shaker, Zamil and Daikin. These companies, through strategic developments, aim at entering new markets and improve their product offerings in order to consolidate their position in the industry. With increasing number of collaborations between regional and global players, Saudi Arabia HVAC R market is likely to grow steadily during forecast period.
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020-2024
Objective of the Study
- To analyze and forecast Saudi Arabia HVAC R market size.
- To forecast Saudi Arabia HVAC R market based on regional distribution.
- To identify drivers and challenges for Saudi Arabia HVAC R market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia HVAC R market.
- To conduct the pricing analysis for Saudi Arabia HVAC R market.
- To identify and analyze the profile of leading players operating in Saudi Arabia HVAC R market.
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Some of the leading players in Saudi Arabia HVAC R market are Trane Inc., Johnson Controls International PLC (Al Salem York), Carrier, LG Shaker, Zamil, Daikin, Hitachi, CGS and Emerson Electric.
Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of
Market insights research calculated
Key Target Audience
- HVAC R system manufacturers, suppliers, distributors and other stakeholders
- HVAC R system end-user industries
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to HVAC R market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
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