Saudi Arabia HVAC Market by HVAC Type, Ventilation, Air Handling Units and Fan Coil Units, by End-User, By region - Market Size, Share, Development, Growth and Demand Forecast, 2014-2024

Saudi Arabia HVAC Market by HVAC Type, Ventilation, Air Handling Units and Fan Coil Units, by End-User, By region - Market Size, Share, Development, Growth and Demand Forecast, 2014-2024

  • April 2019 •
  • 144 pages •
  • Report ID: 5782428 •
  • Format: PDF
Saudi Arabia HVAC Market by HVAC Type (Heating [Heat Pumps {Air Source, Water Source, Ground Source}, Furnaces {Gasoline, Propane, Electric}, Boilers {Fire-tube, Water-tube}, Unitary Heaters), Ventilation [Ventilation Fans {Centrifugal Fans, Axial Fans, Domestic Exhaust Fans, Power Roof Fans}, Air Handling Units {Terminal Units, Makeup Air Units, Rooftop Units} and Fan Coil Units {Two-pipe, Four-pipe}, Humidifiers/Dehumidifiers, Air Cleaners {Type 1, Type 2, Type 3, Type 4, Type 5}], Cooling [Room ACs {Mini Splits, Window ACs}, Split Units, Ducted Split/Packaged Unit {Packaged Unit With Water Cooled Condenser, Packaged Units With Air Cooled Condenser}, Variable Refrigerant Flow {Heat Pump Systems, Heat Recovery Systems}, Chillers {Centrifugal, Screw, Scroll, Absorption, Reciprocating}]), by End-User (Commercial [Offices and Buildings, Supermarkets/Hypermarkets, Government, Healthcare, Hospitality, Transportation], Industrial [Oil and Gas, Food and Beverage, Automotive, Energy and Utilities], Residential), By region (Central, Western, Eastern, Southern) - Market Size, Share, Development, Growth and Demand Forecast, 2014-2024

The Saudi Arabian HVAC market is predicted to generate a revenue of $2.4 billion by 2024, advancing at a CAGR of 4.5% during the forecast period (2019–2024). Rising investments in tourism-specific projects and commercial infrastructure, and expansion in the hospitality sector are driving the growth of the market, according to the report.

On the basis of ventilation type, the Saudi HVAC market is classified into humidifiers/dehumidifiers, air cleaners, air handling units, fan coil units, and ventilation fans. Out of these, in 2018, ventilation fans held the largest revenue share in the market due to their broad range of applications, such as general ventilation for air circulation and for collecting dust particles in manufacturing units to prevent wear and tear of the machinery.

Based on fan coil units (FCU), the Saudi Arabian HVAC market is bifurcated into two-pipe and four-pipe FCUs. Out of these, in 2018, the four-pipe FCU type contributed the higher revenue to the market. This is attributed to the rising number of skyscrapers and commercial offices, big hospitals, and airport development projects. However, two pipe FCUs are increasingly being installing in residential settings. In 2018, the Saudi Ministry of Housing ordered contracts for 19,000 housing units to be built in cities such as Al Khobar, Jeddah, and Riyadh. Hence, residential units’ construction is anticipated to escalate the demand for two pipe FCUs in the 2019–2024 period.

On account of the growing hospital industry, Saudi Arabia is witnessing an increase in the HVAC system demand. Owing to its religious significance, Saudi Arabia has become one of the most prominent tourist destinations across the globe, which is reflected in the growth of its hospitality industry. In 2017, the number of rooms in the country rose by around 14.0% as compared to 2016. Further, in 2018, nearly 40,000 guestrooms were under construction as part of 89 projects. Looking at the surging demand for tourist accommodation, many international hotel chains are working to increase their presence in the country.

For instance, in 2018, Marriott International planned to start nearly 29 new hotels, consisting of around 6,000 guestrooms, in accordance with Saudi Vision 2030. Further, as of 2019, Hilton Worldwide Holdings Inc. is planning to build approximately 35 new hotels in the coming three to five years. Also, Radisson Hospitality AB publicized that it would, by 2020, open two new hotels in the country. HVAC systems provide comfort as they have the ability to maintain the room temperature as per the need of guests. Thus, the necessity of HVAC systems in modern hotels is resulting in the growth of the Saudi HVAC market.

Some of the key players existing in the market are Johnson Controls International plc, Ingersoll-Rand plc, Danfoss A/S, Mitsubishi Electric Corporation, LG Electronics Inc., and Gree Electric Appliances Inc. of Zhuhai.

Saudi Arabia HVAC Market Segmentation
Market Segmentation by HVAC Type
• Heating

- Heat Pumps

- Air source
- Water source
- Ground source

- Furnaces

- Gasoline
- Propane
- Electric

- Boilers

- Water-tube
- Fire-tube

- Unitary Heaters

• Ventilation

- Ventilation Fans

- Centrifugal fans
- Axial fans
- Domestic exhaust fans
- Power roof fans

- Air Handling Units
- Terminal units
- Makeup air units
- Rooftop units

- Fan Coil Units

- Two-pipe
- Four-pipe

- Humidifiers/Dehumidifiers

- Air Cleaners

- Type 1: HEPA + Carbon
- Type 2: HEPA + Carbon + Ionizer
- Type 3: HEPA + Carbon+ UV
- Type 4: HEPA + Carbon + Ionizer+ UV
- Type 5: Other Technologies

• Cooling

- Room ACs

- Mini splits
- Window ACs

- Split Units

- Ducted Split/Packaged Unit

- Packaged unit with water cooled condenser
- Packaged units with air cooled condenser

- Variable Refrigerant Flow

- Heat pump systems
- Heat recovery systems

- Chillers

- Centrifugal
- Screw
- Scroll
- Absorption
- Reciprocating

Market Segmentation by End-User
• Commercial

- Commercial Offices/Buildings
- Hospitality
- Transportation
- Supermarkets/Hypermarkets
- Healthcare
- Government
- Others (include educational institutions, cold storage facilities, data centers, banks, departmental stores, convenience stores, and stadiums)

• Industrial

- Food and Beverage
- Oil and Gas
- Automotive
- Energy and Utilities
- Others (include electronics, textile, pharmaceutical, manufacturing, glass, pulp and paper, shipbuilding, machinery, steel, cosmetic, rubber, tobacco, nuclear, toy, and, arms and ammunition, chemical and cement industries)

• Residential

Market Segmentation by Region
• Central
• Southern
• Western
• Eastern