KSA Residential AC Market Growth and Size, Revenue, Rising Trends, Key Manufacturers, CAGR Status, Challenges, Future Opportunities and Forecast Analysis Till 2033: SPER Market Research
Residential air conditioning (AC) systems are used to cool and sometimes heat residential environments such as houses, apartments, and condos. These systems are intended to promote comfort by managing indoor temperature and humidity levels, resulting in a more pleasant living environment, particularly in hot and humid areas. Residential air conditioning systems are typically made up of central air conditioning, which uses ductwork to circulate cooled or heated air throughout the home. It consists of two units: an outdoor unit (condenser) and an indoor unit (evaporator coil and air handler) connected by refrigerant lines. Ductless Mini-Split systems do not require ductwork and comprise of an outside unit linked to one or more indoor units.
According to SPER Market Research, ‘Saudi Arabia Residential AC Market Size- By Type, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Saudi Arabia Residential AC Market is estimated to reach USD 1.11 billion by 2033 with a CAGR of 6.72%.
Saudi Arabia has a generally hot and arid environment, with particularly high summer temperatures. The necessity for cooling to keep indoor temperatures comfortable throughout the year drives demand for residential air conditioning systems. Saudi Arabia has a growing population, which includes a sizable young population. As urbanization grows and more residential units are built, there is a greater demand for air conditioning systems to provide comfort in houses. Economic expansion and rising disposable incomes drive up investment on residential infrastructure and amenities, such as air conditioning. As living standards rise, more households will be able to purchase air conditioning. The Saudi government has taken steps to increase energy efficiency and cut electricity use.
AC systems make for a sizable amount of home electricity usage in Saudi Arabia, particularly during the summer months. High energy use increases consumer electricity prices and places a pressure on the national power grid. The hot and arid climate poses difficulties such as excessively high outdoor temperatures and dust storms. AC systems must be able to withstand these circumstances, and frequent maintenance is required to ensure reliable performance. Saudi Arabia is placing a greater emphasis on energy efficiency and sustainability, owing to government efforts to cut electricity usage and carbon emissions. AC systems with low energy efficiency ratings may face regulatory hurdles or consumer apprehension.
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The epidemic created economic uncertainty, which influenced consumer purchasing and investment decisions. Many homes experienced financial difficulties as a result of job losses, lower income, or business closures, limiting their capacity to invest in new AC systems or improvements. Construction projects, such as residential developments and restorations, were postponed or canceled during the pandemic. This impacted demand for new air conditioning installations in residential buildings, as developers and homeowners postponed discretionary spending. The epidemic induced changes in consumer behavior, such as spending more time at home and being more concerned of indoor air quality. Some consumers prioritized investments in indoor comfort and health, which sparked an interest in upgrading or maintaining existing air conditioning systems.
Riyadh is Saudi Arabia’s capital and largest metropolis, with a dense population and rapid development. As a result, it holds the majority of the domestic air conditioning (AC) market.
Some of the Key Players are Al Salem Johnson Controls, Carrier – Saudi Arabia, Daikin Air Conditioning Saudi Arabia LLC, Fujitsu General (Middle East) Fze, Gree Electric Appliances Inc. of Zhuhai and 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.
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Saudi Arabia Residential AC Market Outlook
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