The total size of the Saudi Arabian residential AC market was $521.6 million in 2021, and it will reach $917.8 million by 2030, propelling at a rate of 6.5% by the end of this decade. The key drivers of the industry are the growing heat and humidity in the atmosphere, the increasing usable income, the altering lifestyles, and the surging investment in the housing industry.
Furthermore, Saudi Arabia is one of the fastest-growing economies globally. The noticeable increase in the national income of Saudi Arabia in the past has resulted in a snowballing building count, which, in sequence, drives the requirement for ACs.
Split ACs had the largest share, of approximately 59%. These can offer heating and cooling to offices and homes, and therefore, they are favored over window ACs. As a single outdoor system is able to control split ACs, multiple indoor units, are accomplished to offer even cooling through the home. This also means that split air conditioners can offer momentous savings for larger home cooling projects.
Furthermore, split ACs are mounted high and designed for cooling bigger spaces, and additionally, it is possible to become split ACs of a high tonnage, of above 2 tons.
Furthermore, split systems can deliver both cooling and heating and are renowned for their uniform circulation of cold and hot air when suitably controlled via thermostat.
The snowballing humidity and heat in the environment of the nation have led ACs a necessity product from being a luxury. A substantial surge in the maximum and minimum temperature of the nation is being observed, and the temperatures will rise openly in the near future if workable measures are not applied. This scorching temperature can influence the well-being and health of people.
The e-commerce category had the largest share of revenue, of over 50% in the Saudi Arabian residential AC market. This offers products at comparatively lower prices, making it a good option for buying ACs online.
The suitability of doorstep delivery, electronic payment, extensive product lists with their technical specifications and features in detail, and the obtainability of a variety of discounts and promotional offers bring about the acceptance of online shopping.
Furthermore, online stores do not have constraints of space and a variety of products can be put on websites. It helps logical buyers buy a product after a good search. Also, marketers and e-retailers bid discounts to customers, as they have reduced on property and other costs.
Western region had the largest share of revenue in the recent past and the requirement for ACs will grow at a rate of approximately 6% in the coming years. The increasing expansion of housing units makes it the largest stakeholder amongst all the regions.
Due to the increasing heat and humidity, the demand for ACs in Saudi Arabia will increase significantly.
No comments:
Post a Comment