Saudi Arabia HVAC Market Size, Share, Growth & Forecast 2025
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Transcript of Saudi Arabia HVAC Market Size, Share, Growth & Forecast 2025
SAUDI ARABIA HVAC MARKET BY TYPE, BY END USER, COMPETITION
FORECAST & OPPORTUNITIES
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
2013 – 2023
Published: May 2018
© TechSci Research2
Saudi Ara
bia
HVAC M
ark
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Fore
cast
& O
pport
unitie
s,
2013-2
023
T a b l e o f C o n t e n t s
S. No.
1. Product Classification & Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness Level
4.2. Factors Influencing Purchase Decision
4.3. Brand Satisfaction Level
4.4. Challenges Faced Post Purchase
5. Global HVAC Market Overview
6. Saudi Arabia HVAC Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Direct Expansion Systems and Central HVAC Systems)
6.2.2. By End User (Residential, Commercial, Institutional and Industrial)
6.2.3. By Region
6.2.4. By Company
6.3. Market Attractiveness Index
6.3.1. By Type
6.3.2. By End User
6.3.3. By Region
7. Saudi Arabia Direct Expansion Systems Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
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Saudi Ara
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7.2. Market Share & Forecast
7.2.1. By Type (Split, Window, Ductable Split, VRF, Cassette and Others)
7.2.2. By End User (Residential, Commercial, Institutional and Industrial)
7.2.3. By Company
7.3. Product Benchmarking Matrix
7.4. Competition Outlook (Current Market Scenario, Growth Prospects and Future Outlook)
8. Saudi Arabia Central HVAC Systems Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1.By Type (Chillers, Boilers, Cooling Towers, Air Handling Units, Fan Coil Units, HVAC Control Systems and Others)
8.2.2. By End User (Residential, Commercial, Institutional and Industrial)
8.2.3. By Company
8.3. Competition Outlook (Current Market Scenario, Growth Prospects and Future Outlook)
9. Supply Chain Analysis
10. Import & Export Analysis
11. Market Dynamics
11.1. Drivers/Opportunities
11.2. Challenges/Restraints
12. Market Trends & Developments
13. Policy & Regulatory Landscape
14. Saudi Arabia Economic Profile
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Saudi Ara
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15. Competitive Landscape
15.1. Competition Outlook
15.2. Company Profiles
15.2.1. Trane Inc.
15.2.2. Johnson Control International Plc (Al Salem York)
15.2.3. Toshiba Carrier Corporation
15.2.4. LG Shaker Co. Ltd.
15.2.5. Zamil Air Conditioners Holding Co. Ltd.
15.2.6. Gree Electrical Appliances Inc.
15.2.7. Samsung Electronics Co. Ltd.
15.2.8. Fujitsu Ltd.
15.2.9. Daikin Air Conditioning Saudi Arabia LLC
15.2.10. Midea Middle East
15.2.11. Haier Saudi Arabia
15.2.12. Hitachi Saudi Arabia, Ltd.
15.2.13. Petra Engineering Industries Co.
15.2.14. Heating and Air Conditioning Enterprises (HACE)
16. Strategic Recommendations
17. About Us & Disclaimer
© TechSci Research5
Pro
duct
Overv
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P r o d u c t C l a s s i f i c a t i o n & O v e r v i e w
Heating, ventilation and air conditioning (HVAC) is a technology used to create a comfortable indoor environment with
acceptable indoor air quality and thermal comfort. HVAC is considered to be an important part of apartment buildings,
single family homes, hotels, medium and large offices, and industrial buildings. Primary function of HAVC is to provide
thermal comfort along with acceptable indoor air quality and reasonable maintenance cost.
HVAC system is used for both commercial and residential
purposes. HVAC system maintains a proper equilibrium
between the air pressure and space in the facility, as well
as provides proper air ventilation and improves air
filtration.
Type of HVAC Systems
Direct Expansion
HVAC Systems
Central HVAC
Systems
Direct Expansion HVAC Systems – A direct expansion HVAC system uses a refrigerant vapor expansion/
compression (RVEC) cycle, which directly cools the air supplied to the building.
Central HVAC Systems – It is a process of cooling air through a centralized dehumidifier unit, which further cools
the air before circulating it in the building. In this system, air is treated at a central location and is then carried to all
the rooms by a system of ducts.
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R e s e a r c h M e t h o d o l o g y
Information regarding
Saudi Arabia HVAC
market was gathered
through primary
research surveys
across various
manufacturers,
distributors and
retailers in the
country, followed by
exhaustive secondary
research.
Research
All the collected
information was then
validated through
multiple sources and
data warehouses in
order to present the
most accurate and
precise market
information about
Saudi Arabia HVAC
market.
Evaluation&
Validation
Various aspects of the
market were
comprehensively
monitored and
analyzed by the team
of industry experts.
TechSci Research
identified and analyzed
the emerging trends,
drivers and challenges
in the market.
Analysis
The analyzed
information was then
presented in
chronological order to
depict a meaningful
and clear picture of
Saudi Arabia HVAC
market.
Presentation
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Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed different aspects of Saudi Arabia HVAC market.
The team has analyzed the outlook of various segments of this market and speculated a positive future for this
industry, while considering the major influencing factors such as increasing government spending on infrastructure,
rise in population, increasing disposable income of the consumers, change in lifestyle and growing tourism. The study
includes market forecasting, which would enable our clients to take better decisions while planning their strategies for
operating in Saudi Arabia HVAC market.
Methodology Followed for Calculation of Market Size:
Market Size by Value: Market size, in value terms, for 2017 was calculated through exhaustive primary surveys,
across various key opinion leaders such as Saudi Arabia HVAC manufacturers (both foreign and local), distributors,
importers, retailers, etc.
The team interviewed more than 20 suppliers, 120 distributors/dealers and 10 industry experts for obtaining the
market size during 2013-2017, using the Delphi technique. Taking standard deviation into consideration, market
size figures were averaged out to arrive at the market size figures for 2013 to 2017.
R e s e a r c h M e t h o d o l o g y
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Respondents were asked about the current and future growth rates, market share by company, by region as well
as sales channel. Removing the outlier responses, geometric mean of growth estimates and product wise revenue
shares generated across various applications was taken, to arrive at the final revenue shares. Revenue shares
generated across various application areas were further triangulated from distributors, retailers and other
stakeholders, depending on the usage of various products. Producers and suppliers were asked about average
selling prices of HVAC products of their respective companies.
Final average selling prices of HVAC products were deduced by taking weighted average, which was calculated by
taking into account their revenue contribution in the overall market and average selling prices of various products.
During the process, sales of best HVAC products sold by various suppliers and producers were also taken into
consideration.
Methodology Followed for Calculation of Market Shares:
Market share by company, by type, by end use sector and by region was calculated based on the responses
received through primary surveys with industry experts, in which respondents were asked about market share or
revenue generated from various type of HVAC systems. The final data was calculated by taking geometric mean of
the responses gathered from over 100 key opinion leaders, after eliminating the outliers.
R e s e a r c h M e t h o d o l o g y
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Methodology Followed for Forecasting:
TechSci Research performed periodical checks on the data collected through surveys with logic checks and
analyzed survey results in SPSS/Tableau Software and data generated through its proprietary database.
TechSci Research applied data triangulation technique to fill gaps and present a meaningful picture of the
market. In order to forecast Saudi Arabia HVAC market, TechSci Research used various forecast techniques such
as:
❖ Moving Average
❖ Time Series Analysis
❖ Regression analysis
❖ Econometric and Judgmental Analysis
TechSci Research used its own forecast tool, based on growth of various distribution channels in Saudi Arabia.
TechSci Research also used impact analysis during short, medium and long term to estimate the demand and
arrive at accurate market figures.
R e s e a r c h M e t h o d o l o g y
Partial List of Companies Interviewed
Trane Inc., Johnson Control International Plc (Al Salem York), Toshiba Carrier
Corporation, LG Shaker Co. Ltd., Zamil Air Conditioners Holding Co. Ltd., Gree
Electrical Appliances Inc., Samsung Electronics Co. Ltd., Fujitsu Ltd., Daikin Air
Conditioning Saudi Arabia LLC, Midea Middle East, Haier Saudi Arabia, Hitachi Saudi
Arabia, Ltd., Petra Engineering Industries Co., Heating and Air Conditioning
Enterprises (HACE) among Others
Secondary Sources
Company Annual Reports, Saudi Arabia Customs, Ministry of Civil Services of Saudi
Arabia, World Bank, Industry Magazines, Industry Reports, News Dailies, Electricity &
Cogeneration regulatory authority of Saudi Arabia, etc.
© TechSci Research10
Str
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Recom
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I N D U S T R Y B R I E F
According to TechSci Research report, “Saudi Arabia HVAC R Market By Region, Competition, Forecast & Opportunities, 2024”, Saudi
Arabia HVAC R market is projected to grow at a CAGR of around 11.9% during 2019-2024, on the back of increasing government initiatives
towards economic development. Another major factor expected to drive the market is the growing tourism industry, on account of increasing
number of religious tourists in Makkah and Madinah. Moreover, extreme climate conditions of the country, increasing demand for food &
beverages and growing building automation & control systems market would have a positive impact on the country’s HVAC R market.
By region, Saudi Arabia HVAC R market has been categorized into four regions namely Northern & Central, Western, Eastern and
Southern. Of these regions, Northern & Central region holds the leading position in the market and is expected to maintain its dominating
position during the forecast period, owing to population intensity and upcoming residential and commercial infrastructural projects in the
region. Demand for HVAC R would continue to increase during forecast period, owing to the recovering economy and growing travel &
tourism industry of Saudi Arabia. As the demand for HVAC R systems is increasing in Saudi Arabia, market players are expanding their
product portfolio and geographic reach. This is expected to boost competition in the market during the forecast period.
“Major factors contributing to the growth of Saudi Arabia HVAC R market are increasing number of construction and infrastructure projects,
rising demand for food & beverages and growing travel & tourism industry. Moreover, government initiatives towards reducing food wastage
are expected to propel the country’s HVAC R market over the course of next five years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
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S A M P L E D A TA – S N A P S H O T
Saudi Arabia Central HVAC Systems Market Size, By Value (USD Million) & Volume (Thousand Unit), 2013–2023F
CAGR 2013-2017By Value: xx%
By Volume: xx%
CAGR 2018E-2023FBy Value: xx%
By Volume: xx%
2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F
By Value (USD Million) By Volume (Thousand Unit)
Saudi Arabia HVAC Market Share, By Region, By Value, 2013-2023F
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F
Northern & Central Region Western Region Eastern Region Southern Region
2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F
By Value (USD Million) By Volume (Thousand Unit)
Saudi Arabia Central HVAC Systems Market Size, By Value (USD Million) & Volume (Thousand Unit), 2013–2023F
© TechSci Research12
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R E P O R T O R D E R I N G
REPORT NAME : SAUDI ARABIA HVAC MARKET BY TYPE, BY END USER,COMPETITION.
FORECAST & OPPORTUNITIES, 2013 – 2023
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TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market
research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while
ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic
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detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which itconsiders reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsiblefor any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to thesubscribers / users of this report. The information herein, together with all estimates and forecast, can change without notice. All the figures provided in thisdocument are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require priorapproval of TechSci Research.
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