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Saudi Arabia HVAC Market: By Equipment: Heating, Ventilation, Cooling; By Implementation Type: New Constructions, Retrofits; By End Use: Residential, Commercial, Industrial; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Saudi Arabia HVAC Market Outlook

The Saudi Arabia HVAC market is driven by the growing demand from residential building construction. The industry is further expected to grow at a CAGR of 4% in the forecast period of 2021-2026.

 

Upgradation Section forms the Largest Sub-Sector in the Saudi Arabia HVAC Industry

Saudi Arabia's HVAC demand is expected to rise rapidly, thanks to rising construction activity in the country's residential and industrial sectors. During the forecast period, extreme climatic conditions in Saudi Arabia, changing habits, and a growing number of government measures aimed at reforming the country's oil-dependent economy are all expected to fuel the demand for HVAC systems. The central area of Saudi Arabia, which is home to some of the country's largest and most populated cities, including the capital, Riyadh, has historically contributed the most revenue to the Saudi Arabia HVAC industry. Previously, the upgradation or replacement section of the service segment had the largest share of the Saudi Arabia HVAC industry. Increased incorporation of HVAC systems in smart devices, as well as the demand for energy-efficient HVAC systems, are expected to drive market growth.

 

HVAC: Industry Definition and Segmentations

The infrastructure of indoor and vehicular environmental comfort is known as heating, ventilation, and air conditioning (HVAC). Its aim is to provide adequate thermal comfort and indoor air quality. HVAC device architecture is a branch of mechanical engineering that is focused on thermodynamics, fluid mechanics, and heat transfer concepts.

The HVAC industry can be divided by equipment into:

  • Heating
    • Heat Pumps
    • Furnaces
    • Unitary Heating
  • Ventilation
    • Air-handling Units
    • Air Filters and Purifiers
    • Ventilation Fans
    • Dehumidifiers and Humidifiers
    • Others
  • Cooling
    • Unitary Air Conditioners
    • VRF Systems
    • Chillers
    • Room Air Conditioners
    • Coolers
    • Cooling Towers
    • Others

It may be classified on the basis of implementation type as follows:

  • New Constructions
  • Retrofits

The end uses for HVAC industry include:

  • Residential
  • Commercial
  • Industrial

 

Technological Advancements Bolstering the Market Growth of HVAC in Saudi Arabia

The HVAC-R industry in Saudi Arabia is expected to benefit significantly from upcoming commercial ventures such as airports, high-rise hotels, and investments in luxury homes and villas in the residential sector. The rise in demand from the country's commercial sector is largely due to technical advancements and inventions such as district cooling, solar air conditioning systems, and HVAC systems that incorporate new technologies. The COVID-19 pandemic has had a negative effect on both the demand and supply sides of the Saudi Arabia HVAC industry. The building industry is facing problems as a result of the government-induced lockdown, including a reduction in project financing, the closure of construction sites, and the postponement of existing projects due to a lack of materials, equipment, and labourers, as well as economic instability.

 

Key Industry Players in the Saudi Arabia HVAC Market

The report gives a detailed analysis of the following key players in the Saudi Arabia HVAC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Zamil Air Conditioners
  • AirTech Riyadh
  • Green Air Electro-Mechanical Contracting Company
  • LG Electronics Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Saudi Arabia
7    Industry Opportunities and Challenges
8    GCC HVAC Market Overview

    8.1    Key Industry Highlights
    8.2    GCC HVAC Historical Market (2016-2020) 
    8.3    GCC HVAC Market Forecast (2021-2026)
    8.4    GCC HVAC Market by Country
        8.4.1    Market Share
            8.4.1.1    Saudi Arabia
            8.4.1.2    UAE
            8.4.1.3    Qatar
            8.4.1.4    Kuwait
            8.4.1.5    Oman
            8.4.1.6    Bahrain
9    Saudi Arabia HVAC Market Analysis
    9.1    Key Industry Highlights
    9.2    Saudi Arabia HVAC Historical Market (2016-2020) 
    9.3    Saudi Arabia HVAC Market Forecast (2021-2026)
    9.4    Saudi Arabia HVAC Market by Equipment
        9.4.1    Heating
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2016-2020)
            9.4.1.3    Forecast Trend (2021-2026)
            9.4.1.4    Market by Type
                9.4.1.4.1    Heat Pumps
                9.4.1.4.2    Furnaces
                9.4.1.4.3    Unitary Heaters
        9.4.2    Ventilation
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2016-2020)
            9.4.2.3    Forecast Trend (2021-2026)
            9.4.2.4    Market by Type
                9.4.2.4.1    Air-Handling Units
                9.4.2.4.2    Air Filters and Purifiers
                9.4.2.4.3    Ventilation Fans
                9.4.2.4.4    Dehumidifiers and Humidifiers
                9.4.2.4.5    Others
        9.4.3    Cooling
            9.4.3.1    Market Share
            9.4.3.2    Historical Trend (2016-2020)
            9.4.3.3    Forecast Trend (2021-2026)
            9.4.3.4    Market by Type
                9.4.3.4.1    Unitary Air Conditioners
                9.4.3.4.2    VRF Systems
                9.4.3.4.3    Chillers
                9.4.3.4.4    Room Air Conditioners
                9.4.3.4.5    Coolers
                9.4.3.4.6    Cooling Towers
                9.4.3.4.7    Others
    9.5    Saudi Arabia HVAC Market by Implementation Type
        9.5.1    New Constructions
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2016-2020)
            9.5.1.3    Forecast Trend (2021-2026)
        9.5.2    Retrofits
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2016-2020)
            9.5.2.3    Forecast Trend (2021-2026)
    9.6    Saudi Arabia HVAC Market by End Use
        9.6.1    Residential
            9.6.1.1    Market Share
            9.6.1.2    Historical Trend (2016-2020)
            9.6.1.3    Forecast Trend (2021-2026)
        9.6.2    Commercial
            9.6.2.1    Market Share
            9.6.2.2    Historical Trend (2016-2020)
            9.6.2.3    Forecast Trend (2021-2026)
        9.6.3    Industrial
            9.6.3.1    Market Share
            9.6.3.2    Historical Trend (2016-2020)
            9.6.3.3    Forecast Trend (2021-2026)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Zamil Air Conditioners
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    AirTech Riyadh
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Green Air Electro-Mechanical Contracting Company
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    LG Electronics Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Others
13    Industry Events and Developments


List of Figures and Tables

1.    GCC HVAC Market: Key Industry Highlights, 2016 and 2026
2.    Saudi Arabia HVAC Market: Key Industry Highlights, 2016 and 2026
3.    Saudi Arabia HVAC Historical Market: Breakup by Equipment (USD Billion), 2016-2020
4.    Saudi Arabia HVAC Market Forecast: Breakup by Equipment (USD Billion), 2021-2026
5.    Saudi Arabia HVAC Historical Market: Breakup by Implementation Type (USD Billion), 2016-2020
6.    Saudi Arabia HVAC Market Forecast: Breakup by Implementation Type (USD Billion), 2021-2026
7.    Saudi Arabia HVAC Historical Market: Breakup by End Use (USD Billion), 2016-2020
8.    Saudi Arabia HVAC Market Forecast: Breakup by End Use (USD Billion), 2021-2026
9.    Saudi Arabia HVAC Market Structure

Key Questions Answered in the Report

The Saudi Arabia HVAC market is projected to grow at a CAGR of 4% between 2021 and 2026.

The major drivers of the industry include technical advancements and inventions, upcoming commercial ventures, shifting habits, and a growing number of government measures aimed at reforming the country's oil-dependent economy.

The rising construction activity in the country's residential and industrial sectors is expected to be a key trend guiding the growth of the industry.

The market on the basis of equipment can be divided into heating, ventilation and cooling. Heating is further divided into heat pumps, furnaces, and unitary heating. Ventilation equipment can be divided into air-handling units, air-filters and purifiers, ventilator fans, and dehumidifiers and humidifiers, amongst others. Cooling segment can further be divided into unitary air conditioners, VRF systems, chillers, room air conditioners, coolers, and cooling towers, among others.

Based on implementation, the industry can be divided into new constructions and retrofits.

HVAC can have different end-uses like residential, commercial, and industrial.

The leading players in this market are Zamil Air Conditioners, AirTech Riyadh, Green Air Electro-Mechanical Contracting Company, and LG Electronics Inc., amongst others.

Analyst Review

The Saudi Arabia HVAC market is driven by technical advancements and inventions, upcoming commercial ventures, shifting habits, and a growing number of government measures aimed at reforming the country's oil-dependent economy. Aided by the rising construction activity in the country's residential and industrial sectors, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4%.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on the equipment, the Saudi Arabia HVAC market can be segmented into heating, ventilation and cooling. Heating equipment is further divided into heat pumps, furnaces, and unitary heating. Ventilation equipment can be divided into air-handling units, air-filters and purifiers, ventilator fans, and dehumidifiers and humidifiers, among others. Cooling segment can further be divided into unitary air conditioners, VRF systems, chillers, room air conditioners, coolers, and cooling towers, among others. By implementation, the industry can be divided into new constructions and retrofits. The HVAC industry finds end-uses such as residential, commercial and industrial uses. The key players in the above industry include Zamil Air Conditioners, AirTech Riyadh, Green Air Electro-Mechanical Contracting Company, and LG Electronics Inc., amongst others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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