The Saudi Arabian HVAC TAB services industry has garnered $45.0 million revenue in 2021, and it is projected to rise at a rate of 8.6% from 2021 to 2030, to capture $94.6 million revenue in 2030.
It is attributed to the expansion of the tourism sector, rising HVAC installation, and increasing development activities in the nation’s industrial and residential sectors.
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| Saudi Arabia HVAC TAB Services Market Insights Analysis, 2030 |
In addition, the growing demand for such services is projected to rise massively, and thus result in the expansion of commercial construction worldwide.
In Saudi Arabia, the changing lifestyles, extreme climatic conditions, and rising number of government policies aiming at revamping the oil-based economy of the nation are expected to boost the demand for TAB services and HVAC systems.
Furthermore, the increasing urbanization rate fuels the requirement for TAB offerings. For example, around 84.5% of the nation’s population lived in the urban region, which has boosted the requirement for TAB services and temperature-control systems.
In addition, food loss and waste widely affect the environment, economy, and society. Hence, it is a major concern for any country that imports agricultural goods. Reducing food loss involves developing suitable cold-chain storage and transportation facilities to ensure balanced distribution in the food supply chain.
Moreover, the initiatives and activities to transform the attitude of the people involved in reducing FLW, through the usage of HVAC systems, as well as it requires the promotion of sustainable and energy-efficient systems.
The major key players are focusing on expanding the portfolio by offering advanced refrigeration systems, hence fuel the requirement for HVAC TAB services in the nation.
The balancing service category is projected to capture the largest industry share, or 64.0% in the Saudi Arabian HVAC TAB services industry. It is ascribed to air balancing which serves a major role in the planning of large commercial construction projects, with the application of the same principles in the residential sector.
Air is an essential factor that affects productivity as well as health. Thus, the commercial and industrial sectors focus on testing HVAC systems for the maintenance of superior air quality and appropriate indoor climate, which fuels the demand for testing services.
Moreover, companies are focusing on offering sound & vibration, electrical, high-efficiency particulate air filters, medical gas & laboratory system, network, building envelope, tunnel ventilation, duct leakage, diagnosis services, smoke testing, and indoor air quality.
Under the end use segment, the commercial sector captures the largest industry share, and it is projected to retain its position in the coming years. It is ascribed to the rising construction of commercial spaces and expansion of the hospitality sector.
Geographically, the western region holds the largest industry share, of 40%. The outlook of the industry is bright, and it is ascribed to various major infrastructure development projects in cities such as Makkah, Madinah, Jeddah, and Neom.
Therefore, the expansion of the hospitality
sector fuels the demand for HVAC TAB services in the region.
