Light Commercial AC Segment to drive Saudi Arabia Air Conditioners Market beyond $ 1.77 billion
Rising number of residential and commercial buildings, extreme temperatures and introduction of energy efficient air conditioners to drive Saudi Arabia air conditioners market through 2023 According to TechSci Research report, “ Saudi Arabia Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2013 – 2023 ”, Saudi Arabia air conditioner market is projected to surpass $ 1.77 billion by 2023. Growth in the market is anticipated in the coming years, on account of robust distribution network, booming hospitality & tourism sector and rising number of technological advancements in air conditioners. Moreover, Saudi Arabia Vision 2030, which is aimed at bringing huge investments, massive privatization of state assets and transforming the country’s economy into a diversified economy by investing and promoting non-oil based sectors, is further anticipated to positively influence air conditioner market in Saudi Arabia during the for