The Saudi Arabia residential AC market will touch USD 917.8 million, growing at a 6.5% compound annual growth rate, by 2030.
The growth is driven by rising humidity and heat, changing lifestyles, increased investment in the housing sector, and higher disposable income in the country. Additionally, Saudi Arabia's rapid economic development has resulted in a significant increase in building construction, further driving the demand for air conditioners.
Furthermore, as one outdoor system can regulate various indoor parts, split ACs are capable of providing even cooling in the home. Also, this means that split air conditioners can provide substantial savings for larger home cooling plans.
Additionally, split ACs are fitted high and intended for cooling bigger spaces, and it is possible to attain split ACs of a high tonnage, of more than 2 tons.
The e-commerce category, on the basis of distribution channel, was the largest contributor to the Saudi Arabia residential AC market, in the past few years. This distribution channel provides goods at relatively lower values, which makes it an ideal choice to purchase ACs online.
The increasing advancement of housing units in this region makes it the largest contributor among all the regions. Moreover, the western portion of the Kingdom comprises large cities such as Makkah, Medina, and Jeddah, which are observing an enormous influx of people from rural parts of the nation and guests from other nations, therefore, boosting residential construction activities.
In addition, the nation is also focusing on promoting power-efficient residential ACs, to guarantee the preservation of resources. The air conditioners are offered with their energy efficiency ratings and the ones that have more ratings get financial incentives from the government.
The major drivers of the Saudi Arabian residential AC market include the increasing heat and humidity in the environment, the rising disposable income and changing lifestyles, and the surging investment in the housing sector in the country.
