KSA Residential AC Market Share, Trends, Growth Drivers, Challenges, Opportunities, Key Manufacturers and Future Investment Strategies Till 2033

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KSA Residential AC Market Share, Trends, Growth Drivers, Challenges, Opportunities, Key Manufacturers and Future Investment Strategies Till 2033: SPER Market Research


 Category : Consumer & Retail

 Published: Sep-2023
 Author: SPER Analyst


Saudi Arabia Residential AC Market is projected to be worth USD 1.11 billion by 2033 and is anticipated to surge at a CAGR of 6.72%.

A feature that makes it possible to cool, heat, and ventilate the interior environment is air conditioning. Despite the fact that "air conditioning" is most often associated with cooling, the operation of air conditioning systems also crucially includes humidity regulation and air cleaning. The air conditioning system creates a comfortable climate that boosts worker productivity while also circulating filtered air inside a constrained space and avoiding the entry of dust or smoke. Due to their widespread use in residential settings, these systems.

Saudi Arabia Residential AC Market Driving Factors and Challenges
The industry is fuelled by factors such as rising temperatures and humidity, rising disposable income, shifting lifestyles, and more foreign investment in the nation's housing market. Additionally, Saudi Arabia has one of the world's fastest expanding economies. Building construction has increased as a result of the Kingdom of Saudi Arabia's rising national income over the past few years, which in turn has increased demand for air conditioners. Across the country, the residential, governmental, and commercial sectors are all growing significantly. The residential sector is one of them that is expanding at the fastest rate, and small Saudi families are increasingly living in modest villas and relatively large flats. Additionally, due to the intense solar temperature, Saudi Arabia has a significant demand for air conditioners. It is one of the nations with abundant fossil fuel resources, namely, where the availability of energy supplies has been a crucial factor in all sectors that have long-term low energy costs.


However, the higher maintenance costs, which lead to increased consumer spending on air conditioning, are one of the problems that impede the air conditioning business. The creation of several laws governing air conditioner design restricts the use of new technology in air conditioner design. For instance, it is illegal in the United Kingdom to service and maintain air conditioners that use R22R refrigerants. This makes it challenging for producers to move from the current R22R refrigerant in their manufactured items to the new refrigerant.

Impact of COVID-19 on Saudi Arabia Residential AC Market 
The residential air conditioning (AC) market in Saudi Arabia was heavily impacted by the COVID-19 pandemic. Demand for AC units first decreased as a result of constraints, economic uncertainties, and a halt in development projects. The demand for home comfort products, such as AC systems, rose as a result of individuals spending more time indoors as a result of lockdowns and remote work. In addition, a rising consciousness of the value of good indoor air quality led households to spend more money on improved AC units with cutting-edge filtration and purification technologies. Despite the market's shocks, it eventually proved resilient and adjusted to shifting consumer requirements and priorities.

Saudi Arabia Residential AC Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Al Salem Johnson Controls, Carrier - Saudi Arabia, Daikin Air Conditioning Saudi Arabia LLC, Fujitsu General (Middle East) Fze, Gree Electric Appliances Inc. of Zhuhai, LG Electronics Saudi Arabia LLC, Midea Gulf, S.K.M. Air Conditioning LLC, Samsung Electronics Saudi Arabia Ltd., Zamil Air Conditioners, Others.


Saudi Arabia Residential AC Market Segmentation:

By Type: Based on the Type, Saudi Arabia Residential AC Market is segmented as; Split, Window, Others.

By Distribution Channel: Based on the Distribution Channel, Saudi Arabia Residential AC Market is segmented as; E-Commerce, Multi-Brand Stores, Supermarkets/Hypermarkets, Others.

By Region: This research also includes data for Central, Eastern, Southern, Western.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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