June 15th 2015- Mumbai, India: Bharatbook.com announces a report on “Saudi Arabia Air Conditioner Market (2015-2021)”.With increasing number of tourists in the country, Saudi Arabia has accounted for largest share of construction of new hotel rooms in GCC region.
Saudi Arabia Air Conditioner Market (2015-2021): Market Forecast by AC Types (Window AC, Split AC, Ducted Split AC, Packaged AC, Free Standing AC, Cassette AC and Centralized AC), Applications (Residential, Hospitality, Energy, Manufacturing, IT & ITES, BFSI, Hospitals, Retail and Telecom) and Regions (Southern Region, Eastern Region, Western Region and Central Region)
Rising construction activities of various public & private infrastructures in the areas of retail, hospitality, transportation, and business parks have fueled the market for air conditioners in Saudi Arabia. With increasing number of tourists in the country, Saudi Arabia has accounted for largest share of construction of new hotel rooms in GCC region. Additionally, with surging residential projects and construction & expansion of airport and metro is anticipated to surge the future demand for air conditioners.
According to this research, Saudi Arabia’s Air Conditioner market is projected to grow at a CAGR of 7.42% during 2015-21. In Saudi Arabian market, centralized, split and window type ACs have together captured majority of the market share in 2014 and would lead through the forecast period; however, share of window AC is expected to decline in the coming years.
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.
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.
Key Highlights of the Report
• Historical &...