Saturday 11 July 2020

Saudi AC market set to grow 8.7pc in five years

RIYADH, May 6, 2017

Saudi Arabia's air-conditioning market is expected to grow at the compounded annual growth rate of around 8.7 per cent for the next five years, making it a whopping SR7 billion ($1.86 billion) market by 2017.

According to experts, climate change in the kingdom has raised the attention of many stakeholders as the country is witnessing an upsurge in the demand for air conditioners during the summer season as the temperatures shoot up to as high as 46 deg C or sometimes even higher.

Under such extreme conditions, air conditioners have emerged as a necessity in the nation, and industry reports confirm a robust and growing residential air conditioning market in the coming years.

Saudi Arabia dominates the GCC air-conditioning solutions market. The central and western regions of Saudi Arabia have the highest demand for air conditioners in the country, and their dominance is expected to continue until 2021, according to “Saudi Arabia Air Conditioners Market Forecast & Opportunities 2017.”

As the summer approaches, conversations about energy consumption and efficiency arise, especially as the climate in the kingdom prompts the search for solutions to alleviate the burden of the extreme heat and to help reduce electricity bills that tend to rise.

Experts pointed out that the continuing growth in infrastructure developments, the industrial and housing sectors are also augmenting the sales of air conditioning systems in Saudi Arabia.

The emphasis on energy efficiency in air-conditioning systems has played a major role in the search for solutions that are more compatible with the kingdom's climate.

Another factor complementing the positive impact on the country's air conditioners market in the coming years is the implementation of the energy efficiency labelling system and standardisation for air-conditioners, they stated.

Considering that the standards of energy efficiency in air conditioners in Saudi Arabia were only modified recently, air conditioning currently consumes about 70 per cent of the total electricity consumption in buildings, which is equivalent to more than two thirds of the electricity consumed in the kingdom.

The specifications have been modified based on the Saudi Organization for Standardization, Metrology and Quality System, the Commercial Fraud Control System, internationally agreed technical standards and procedures that take into account the local conditions of the private sector, said experts.

With this booming market for air-conditioning solutions and with the demand expected to accelerate in the coming years, there is a growing need to find solutions to advance energy saving, reduce energy consumption apart from awareness campaigns that have been sought by many stakeholders in the kingdom, said a leading player in the region LG Electronics.

It was one of the first companies to invest in technology to address environmental and energy issues.

"In an effort to provide residents within Saudi Arabia an optimal air-conditioning solution that saves energy while maintaining cooling performance, we are introducing its latest air conditioners using Dual Inverter technology, stated a company spokesman.

"This new technology helps reduce energy consumption and is the ideal solution for air-cooling, working at temperatures as high as 65 deg C. The solution offers 60 per cent faster cooling with high energy efficiency, providing 53 per cent energy consumption compared to conventional air conditioners," he explained.

"Other key features include: quiet and fast cooling, dual protection filter, automatic cleaning, and smart display which allows users to check the condition of the air conditioner easily," he added.-TradeArabia News Service

Tags: Saudi Arabia | summer | industrial | residential | Air conditioner |

More Construction & Real Estate Stories

calendarCalendar of Events