Top 4 Companies in the Saudi Arabia HVAC Market, Supported by Investments in Residential and Commercial Sectors

The Saudi Arabia HVAC market is expected to grow at a CAGR of 5.1% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing demand from residential building construction.

The integration of heating, ventilation, and air conditioning (HVAC) systems is essential for ensuring indoor comfort and air quality. This mechanical engineering discipline encompasses thermodynamics, fluid mechanics, and heat transfer principles to design efficient HVAC architectures. HVAC control systems, comprising valves, sensors, and energy sources, automate heating and cooling processes. With options like ventilation, humidity, and temperature control, these systems are pivotal in maintaining optimal indoor conditions across industries including hospitality, retail, and residential sectors. Employing electronic, pneumatic, and direct-acting mechanisms, HVAC controls regulate environments to meet desired comfort levels.

Table: Residential building costs for respective asset types including building construction works, and fixed fit-out works in Saudi Arabia 2023

The HVAC market in Saudi Arabia is projected to experience significant growth, driven by increased construction activities in both residential and industrial sectors. Factors such as extreme climatic conditions, evolving consumer preferences, and governmental initiatives aimed at diversifying the economy away from oil dependency are anticipated to further boost the adoption of HVAC systems during the forecast period.

The HVAC-R sector in Saudi Arabia is poised for substantial growth, driven by upcoming commercial projects like airports, high-end hotels, and investments in luxury residential properties. The surge in demand from the commercial segment can be attributed to technological innovations such as district cooling, solar-powered air conditioning systems, and advanced HVAC systems integrating cutting-edge technologies.

In February 2024, Alat and Carrier joined forces to construct an advanced HVAC manufacturing and R&D centre in Saudi Arabia. This partnership leveraged Alat's financial resources and Carrier's technological prowess to develop innovative climate solutions, targeting projects like NEOM and broader regional and global markets. This initiative marked the initial phase of their collaboration, focusing on the MENA region's HVAC sector, anticipated to reach a market value of USD 10 billion by 2030 and a global market size of USD 334 billion by the same year.

Top 4 HVAC Companies in Saudi Arabia:

Zamil Air Conditioners

Zamil Air Conditioners Holding Co. Ltd., established in 1974 under Zamil Industrial Investment Co., has emerged as a leading global manufacturer of air conditioning systems, dominating the Middle East market. Offering a diverse portfolio ranging from compact room units to industrial-scale chillers and air handling units, the company emphasises innovation and reliability. Operating from Dammam, Saudi Arabia, Zamil supplies products to over 55 countries, focusing on markets across GCC, Middle East, North Africa, Europe, and Asia. Renowned for durability and energy efficiency, Zamil products ensure consistent indoor comfort.

AirTech Riyadh

AIRTECH, a wholly Saudi-owned entity, has been a stalwart in the industry for over 30 years, previously operating as Al Harbi Saudi Contracting and Trading Establishment. As a key member of the AIRTECH GROUP headquartered in Riyadh, it boasts a seasoned management team adept at delivering quality solutions in refrigeration, HVAC, construction, and more. Leveraging vast experience and strategic partnerships, AIRTECH excels in diverse projects, demonstrating proficiency and versatility across various sectors, ensuring sustained leadership in specialised markets.

Green Air Electro-Mechanical Contracting Company

Green Air, the premier energy solutions company in the Greater Bay Area, offers comprehensive services in solar, roofing, heating, and air conditioning. With a service area extending throughout key counties, including Contra Costa, Sonoma, San Francisco, and Santa Clara, Green Air specialises in installing, maintaining, and repairing residential and commercial systems. Their expertise spans over 32 years, ensuring durable, high-efficiency solutions tailored to individual needs. Moreover, they provide innovative options for reducing energy costs and environmental impact, including solar power integration. Additionally, Green Air prioritises indoor air quality, addressing concerns related to pollutants and allergens.

LG Electronics Inc.

LG, a South Korean multinational corporation, pioneers innovations in consumer electronics, home appliances, and B2B solutions. Established in 1958 as GoldStar, it has evolved into a global leader, offering a wide range of products from televisions to mobile communications. Comprising subsidiaries like LG Chem and LG Display, LG Electronics emphasises product, market, and people leadership to drive growth. With over 72,000 employees worldwide, LG Electronics remains committed to enhancing lives through technological advancements, with 2006 global sales totalling USD 48.5 billion.