The new report by Expert Market Research titled, ‘Saudi Arabia HVAC Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Saudi Arabia HVAC market, assessing the market based on its segments like equipment, implementation and end uses. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 4%
Due to increased construction activity in the country’s residential and industrial sectors, Saudi Arabia’s HVAC demand is expected to skyrocket. Extreme climatic conditions in Saudi Arabia, changing habits, and an increasing number of government measures aimed at reforming the country’s oil-dependent economy are expected to drive demand for HVAC systems during the forecast period. Saudi Arabia’s central region, which includes some of the country’s largest and most populated cities, including the capital, Riyadh, has historically generated the most revenue for the HVAC industry. Previously, the service segment’s upgrade or replacement section had the largest share of the Saudi Arabia HVAC industry. The demand for energy-efficient HVAC systems, as well as increased integration of HVAC systems into smart devices, are expected to drive market growth.
Industry Definition and Major Segments
Heating, ventilation, and air conditioning (HVAC) is the infrastructure for indoor and vehicular environmental comfort (HVAC). Its goal is to provide adequate thermal comfort and air quality indoors. Thermodynamics, fluid mechanics, and heat transfer concepts are the focus of HVAC device architecture, which is a branch of mechanical engineering.
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The HVAC industry can be divided by equipment into:
- Heat Pumps
- Unitary Heating
- Air-handling Units
- Air Filters and Purifiers
- Ventilation Fans
- Dehumidifiers and Humidifiers
- Unitary Air Conditioners
- VRF Systems
- Room Air Conditioners
- Cooling Towers
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It may be classified on the basis of implementation type as follows:
- New Constructions
The end uses for HVAC industry include:
Saudi Arabia’s HVAC-R industry is expected to benefit significantly from upcoming commercial ventures such as airports, high-rise hotels, and residential investments in luxury homes and villas. The rise in demand from the country’s commercial sector is largely due to technological advancements and inventions like district cooling, solar air conditioning systems, and HVAC systems with new technologies. The COVID-19 pandemic has had a negative impact on the Saudi Arabia HVAC industry’s demand and supply sides. Due to a lack of materials, equipment, and laborers, as well as economic instability and government induced lockdowns, the construction industry is experiencing difficulties, including a reduction in project financing, the closure of construction sites, and the postponement of existing projects.
Key Market Players
The major players in the market are Zamil Air Conditioners, AirTech Riyadh, Green Air Electro-Mechanical Contracting Company, LG Electronics Inc. and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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