Saudi Arabia Air Conditioner Market Overview
Saudi Arabia Air Conditioner Market dominates the overall GCC air conditioner market. The country is expected to shift its focus toward non-oil sectors in the coming years, which is exhibited to drive development in the areas of retail, transportation, entertainment & leisure, and hospitality. Further, the anticipated growth of the residential sector would drive the demand for air conditioners in the country.
According to 6Wresearch, Saudi Arabia air conditioner market size is forecast to reach $1.3 billion by 2024. Slumping oil prices and dependence of the country on the oil sector majorly impacted the country's spending on infrastructure development during 2014-17. Further, many of the projects during this period were delayed or canceled, which led to the downfall air conditioners market in Saudi Arabia.
Saudi Arabia air conditioner market is estimated to gain traction in the foreseeable future on the back of the rising tourism sector in the country. Increased private sector investment in the hospitality sector such as hotels coupled with tourism seeks better accommodation with all essential facilities and is expected to be a market proliferating factor in the coming timeframe for the portable air conditioner in Saudi Arabia in the next five to ten years. Additionally, rising disposable income impelled the suburban population to increase air conditioner installation in the house this key component is leading to a flourishing residential sector, and as a result, is estimated to support the massive growth of the Saudi Arabia air conditioner market in the upcoming six years.
Key Highlights of the Report:
- Saudi Arabia Air Conditioner Market Overview
- Saudi Arabia Air Conditioner Market Outlook
- Saudi Arabia Air Conditioner Market Trends
- Saudi Arabia Air Conditioner Market Drivers
- Company Profiles
- Strategic Recommendations
- Saudi Arabia Air Conditioner Market Price and Volume Analysis
- Saudi Arabia Air Conditioner Market Share, by Players
- Saudi Arabia Air Conditioner Market Opportunities and Restraints
- Saudi Arabia Air Conditioner Market Overview on Competitive landscape
- Saudi Arabia Air Conditioner Market Size & Saudi Arabia Air Conditioner Market Forecast of Revenues for the period 2014-2024
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