Saudi Arabia Air Compressor Market Overview
Saudi Arabia air compressor market showed a decent growth on back of projects in oil & gas sector, industrial development, and growing construction sector over the years. Additionally, government reforms and mega developmental projects announced by the government in sectors such as educational institutions, hotels and office spaces are propelling the demand for air compressors in Saudi Arabia.
According to 6Wresearch, Saudi Arabia Air Compressor Market size is projected to grow at a CAGR of 3.6% during 2021-2027F. Saudi Vision 2030 is one of government mega initiatives which aims at developing and strengthening public service sectors such as healthcare, education, and infrastructure. The fulfilment of these initiatives would require the application of air compressors on large scale, and this would further spur the market growth for air compressors in the country. The Eastern region occupies maximum share of air compressor market due to the presence of major oil companies such as ARAMCO and SABIC. Moreover, ongoing and upcoming infrastructural advancement are escalating the growth of air compressor market in Saudi Arabia.
Market by Technology Analysis
In terms of Technology, Rotary air compressor is anticipated to witness healthy growth in the forecast period. Further, petrochemical projects such as Jizan Refinery Project and COTC (a crude-oil-to-chemicals project) along with upcoming construction projects in commercial, residential, and healthcare sectors, would surge the demand for centrifugal air compressors in the country in the forecast period (2021-27).
Key Highlights of the Report
- Saudi Arabia Air Compressor Market Overview
- Saudi Arabia Air Compressor Market Outlook
- Market Drivers and Restraints
- Recent Market Trends
- Recommendations
- Industry Life Cycle & Porter’s Five Forces
- Saudi Arabia Air Compressor Market Forecast
- Opportunity Assessment and Competitive Benchmarking
- Saudi Arabia Air Compressor Market Share, By Technology
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