Saudi Arabia HVAC Market

Research report: by supply (equipment, service), end user (commercial, industrial, residential) – industry analysis and growth forecast to 2030. $ 23 billion metro project in Riyadh, which is 175 kilometers long, was 83% complete in 2019 .

New York, May 28, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces Release of “Saudi Arabia HVAC Market” report – https://www.reportlinker.com/p06075971/?utm_source=GNW
Likewise, Jeddah’s three-line subway network is under construction, expected to be completed by 2020.Due to rapid infrastructure development, the heating, ventilation and air conditioning (HVAC) market in Saudi Arabia will grow from $ 2,476.1 million. in 2020 to $ 4,821.8 million by 2030, at a CAGR of 8.1% between 2021 and 2030.

This is because cooling and ventilation systems are necessary in the stations and underground tunnels of such networks. Another major government project driving the rise of the Saudi Arabian HVAC market is the NEOM mega city, the first phase of which was completed in mid-2019. In addition, a large number of HVAC systems have been installed at Vox Cinemas, which opened to the public in May 2019.

The COVID-19 pandemic has damaged the Saudi Arabian HVAC market as the government has imposed lockdowns and movement restrictions to stop the spread of the infection. In addition, the import of the systems and components from all over the world to the kingdom was hindered by restrictions on international trade. In addition, the closure of a large number of industrial units and commercial spaces reduced the demand for such equipment.

Based on the offering, the service branch will witness the faster growth of the Saudi Arabian HVAC market in the coming years. With the increasing demand for such equipment, so does the need for installation and maintenance services. In addition, a service contract is a long-term relationship between the customer and the service provider.

In the past, the Saudi Arabian HVAC market has been dominated by the commercial category, based on end-user. To reduce its dependence on the oil trade, the Saudi government is providing strong support to business and hospitality. So, with the increasing number of hotels, resorts and office buildings, the demand for HVAC equipment and services in the commercial sector is on the rise.

The western region will have the largest share of the Saudi Arabian HVAC market in the coming years due to the extensive infrastructure development in this region. Some of Saudi Arabia’s largest and most important cities, including Jeddah, Medina, and Mecca, are located in the western part of the country.

Major companies in the Saudi Arabian HVAC market include Johnson Controls International plc, Carrier Global Corporation, SKM Air Conditioning LLC, Trane Technologies plc, Daikin Industries Ltd., Midea Group Co. Ltd., Mitsubishi Electric Corporation, Danfoss A / S, Zamil Air Conditioners, LG Electronics Inc. and Gree Electric Appliances Inc. from Zhuhai.
Read the full report: https://www.reportlinker.com/p06075971/?utm_source=GNW

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