6Wresearch: Saudi Arabia Leading GCC‘s Air Conditioner Market- Thanks to Expanding Infrastructure and Rising Investments
GCC region is evolving as key revenue contributing region in global air conditioner market. In GCC region, countries such as Saudi Arabia, UAE, Kuwait and Qatar are contributing majorly for the growth of the market. Amongst all GCC countries, Saudi Arabia is the leading revenue generating country.
According to 6Wresearch, Saudi Arabia Air Conditioner (AC) Market is projected to grow at a CAGR of 7.4% during 2015-21. The growth of the market can be anticipated to rising public & private infrastructures, expansion of transportation segment, booming retail and hospitality sectors, and rising business opportunities in the country.
Surging tourism industry is one of the key drivers of the air conditioner market. The growth in tourism has uplifted the construction of new hotels, malls and public transportation in the country. This trend is expected to continue through the forecast period, which would spur the market for air conditioner in Saudi Arabia.
According to Sathi Paul, Research Associate, Research and Consulting, 6Wresearch, “In the forecast period, the market is expected to grow owning to mega projects such as Riyadh Metro, King Abdullah Economic City, Kingdom Tower, and Abraj Kudai, which would drive Saudi Arabia’s air conditioner market.
High consumption of energy in KSA has forced the government to direct air conditioner players to manufacture energy efficient air conditioners with minimum three star ratings. With the regulation volume sales of energy efficient air conditioners would increase over the next six years
“In Saudi Arabia’s air conditioner market, centralized and split air conditioner has driven the growth of the overall market. On the other hand, share of window air conditioner is expected to decline in the forecast period,” Sathi further added.
Amongst all the application, residential application captured the significant share of the market pie but is expected to decline marginally in future due to growing commercial and industrial sectors in KSA.
“Saudi Arabia Air Conditioner (2015-2021)”provides in-depth analysis with 54 figures and 6 tables covered in 120+ pages. The report estimates and forecast overall Saudi Arabia air conditioner market by revenue, by air conditioner types such as Window AC, Split AC, Ducted split AC, Packaged AC, Free Standing AC, Cassette AC and Centralized AC. Application such as residential, hospitality, energy, manufacturing, IT & ITES, BFSI, hospitals, retail and telecom. Regions such as southern, eastern, western and central region. The report also gives the insights on competitive landscape, market share by companies, price point analysis, company profile, market drivers and restraints.