BURNABY, British Columbia, February 25, 2014 /PRNewswire/ --
Split and window air conditioners continue to account for the largest demand share of the country's air conditioners market
Saudi Arabia is one of the largest air conditioners markets in the Middle East. Rising temperature levels, coupled with high per capita income levels and rapidly growing population are boosting the air conditioning market in Saudi Arabia. The country faces extreme climatic conditions throughout the year, due to which cooling and ventilation become a necessity for the people residing in the country.
Furthermore, the booming real-estate sector and favorable government initiatives are also driving the demand for air conditioners in Saudi Arabia. According to the recently published report by TechSci Research "Saudi Arabia Air Conditioners Market Forecast & Opportunities, 2018", the central region accounts for the largest revenue share of the country's air conditioners market. It has been forecast in the report that Saudi Arabia's air conditioners market revenues will grow at a CAGR of around 10% during 2013-18.
The report reveals that the demand for various air conditioners such as split, cassette, centralized and window continues to rise in Saudi Arabia, with split air conditioners accounting for the highest demand.
"Education, residential and healthcare sectors will be the major demand generators for air conditioners market, due to increasing government initiatives directed towards these sectors. Moreover, the country's air conditioners market is going to be highly competitive over the forecast period due to emergence of large number of players in the market. Expected technological advancements, coupled with introduction of new energy efficient air conditioners models will continue to propel the demand in coming years" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
The report further reveals that with the latest initiatives by The Saudi Standards, Metrology and Quality Organization (SASO), the demand for energy efficient air conditioners is expected to rise in the country. Air conditioners featuring inbuilt air purification functionalities are anticipated to gain more market share due to rising air pollution concerns in the country. The air conditioners market in Saudi Arabia is dominated by several overseas manufacturers such as LG Shaker, Daikin, Samsung Electronics, Gree Electric, Hitachi Ltd., etc.
"Saudi Arabia Air Conditioners Market Forecast & Opportunities, 2018" has evaluated the future growth potential of the air conditioners market in Saudi Arabia and provides statistics and information on market structure, market trends, market size, etc. The report includes air conditioner projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in air conditioners market in Saudi Arabia.
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SOURCE Techsci Research