Market Research Report
Saudi Arabia HVAC R Market By Region (Northern & Central, Western, Eastern and Southern), Competition, Forecast & Opportunities, 2014 - 2024
|Published by||TechSci Research||Product code||833160|
|Published||Content info||113 Pages
Delivery time: 1-2 business days
|Saudi Arabia HVAC R Market By Region (Northern & Central, Western, Eastern and Southern), Competition, Forecast & Opportunities, 2014 - 2024|
|Published: April 1, 2019||Content info: 113 Pages||
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.
Factors such as increasing demand to reduce energy consumption and extreme climate conditions are anticipated to drive Saudi Arabia HVAC R market. Additionally, growing urbanization rate in cities is resulting in the development of smart buildings, which require efficient HVAC R systems, thereby strengthening the demand for HVAC R systems in Saudi Arabia during forecast period.
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 introduced by the government to curb pollution are expected to hinder market growth in the coming years.
Saudi Arabia HVAC R market XXXXXCompetitive LandscapeYYYYY
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 Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
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.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of HVAC R manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the country.
TechSci Research calculated Saudi Arabia HVAC R market size by using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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.
In this report, Saudi Arabia HVAC R market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia HVAC R market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis
(Note: The companies list can be customized based on the client requirements)