BURNABY, Canada, March 24, 2016 /PRNewswire/ --
Rising Disposable Income, Extreme Climatic Conditions and Favourable Government Policies to Drive Saudi Arabia Air Conditioners Market Through 2021
According to TechSci Research report, "Saudi Arabia Air Conditioners Market By Product Type, Competition Forecast & Opportunities, 2011 - 2021", air conditioners market in Saudi Arabia is anticipated to surpass US$ 3 billion by 2021, increasing number of households, growing construction of commercial and residential buildings, and imposition of government norms to allow sales of only energy efficient air conditioner technologies that abide by the star labelling system. Growing disposable income of the working population, various technological innovations in new air conditioners models, and rapid urbanization are few of the other major factors fueling growth in Saudi Arabia air conditioners market. In 2015, LG Shaker grabbed the largest market share in Saudi Arabia's air conditioners market, followed by Zamil, Gree, Samsung Electronics and Daikin Air Conditioning Saudi Arabia.
(Logo: http://photos.prnewswire.com/prnh/20140117/663730 )
Major demand for air conditioners in the country emanates from the Central & West region, predominantly due to the presence of Riyadh, Madinah and Jeddah. In fact, air conditioner sales in the country are being driven primarily by cities such as Riyadh, Madinah and Jeddah, due to high population density and rising number of commercial buildings in these cities. In terms of product category, air conditioners market in Saudi Arabia is dominated by split air conditioners, which accounted for a majority revenue share in 2015. Saudi Arabian government plans to build around 5,00,000 housing units in the country over the next five years by investing around USD68 billion to ease housing shortage in the country. Further, ongoing commercial constructions like King Abdul-Aziz International Airport are expected to drive the demand for air conditioners market in the Kingdom through the forecast period.
"With increasing investments being made by the government in the country's commercial sector and enforcement of various energy efficiency labelling standards, the demand for energy efficient air conditioners in Saudi Arabia is growing at a significant pace. This is expected to facilitate the country in making significant advances in the overall electricity consumption over next five years, in addition to air conditioner sales witnessing an upsurge through 2021.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Saudi Arabia Air Conditioners Market By Product Type, Competition Forecast & Opportunities, 2011 - 2021", has evaluated the future growth potential of Saudi Arabia air conditioners market and provides statistics and information on market structure, size and trends of Saudi Arabia air conditioners market. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends; consumer behaviour like spending pattern, brand awareness level, frequency of purchase; essential drivers and key challenges faced by air conditioners industry in Saudi Arabia.
About TechSci Research:
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
Media Contact:
Ken Mathews
Sales & Marketing Consultant
Contact Phone: +1 646 360 1656
E-mail: ken.mathews@techsciresearch.com
Share this article