Saudi Arabia Air Conditioner Market 2018-2024: Market Forecast by Types, Applications, Regions, and Competitive Landscape - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Saudi Arabia Air Conditioner Market (2018-2024): Market Forecast by Types, by Applications, by Regions, and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
Saudi Arabia air conditioner market is forecast to reach $1.3 billion by 2024.
Slumping oil prices and dependence of the country on oil sector majorly impacted country’s spending towards infrastructure development during 2014-17. Further, many of the projects during this period were delayed or cancelled, which led to downfall of air conditioners market in Saudi Arabia. However, with the recovery of oil prices in 2018 and ambitious Saudi Vision 2030 plan to improve the economy would drive air conditioner market especially in residential and commercial sectors.
In Saudi Arabia, centralized air conditioner segment has captured majority of the market share in 2017, and would also lead during the forecast period, where VRF segment is expected to witness key growth over the forecast period.
Residential, commercial and retail applications garnered maximum revenue share from air conditioner sales due to the rapid growth of large-scale projects. Over the coming years, applications such as hospitality and retail sectors are projected to grow at a relatively higher CAGR during 2018-24.
The report thoroughly covers the air conditioner market by AC types, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.
By TypesWindow AC Split AC Ceiling Concealed Packaged AC Floor Standing Suspended Cassette Centralized VRFAHU/FCUCondensing UnitChillerOthers
By ApplicationsResidential Commercial & Retail Hospitality Oil & Gas Healthcare Others
By RegionsEastern Western Central Southern
Companies MentionedAHI Carrier FZC Al Salem Johnson Controls (York) Daikin Air Conditioning Saudi Arabia LLC Fujitsu General (Middle East) FZE GREE Electric Appliances Inc. LG Electronics Gulf FZE Mitsubishi Electric Corporation S.K.M Air Conditioning LLC Trane INC. Zamil Air Conditioner (ZAC)
For more information about this report visit https://www.researchandmarkets.com/research/znk9cq/saudi_arabia_air?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005842/en/
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Related Topics:Household Appliances,HVAC (Heating, Ventilation, and Air Conditioning)
KEYWORD: SAUDI ARABIA MIDDLE EAST
INDUSTRY KEYWORD: BUILDING SYSTEMS CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/27/2018 03:08 PM/DISC: 09/27/2018 03:08 PM