The Saudi Arabian HVAC sector is expected to achieve between 30% and 50% growth over the next two years, the project manager of Saudi Energy said on Tuesday.
With the Kingdom remaining a major market for air conditioning due to its hot climate and high individual purchasing power, growth is expected to hit $1.19bn by the year 2014, Khaled Daou said.
“HVAC is not just a luxury in the Kingdom of Saudi Arabia; it is a necessity for key sectors such as hospitality and food,” he explained.
“Given its geography, vibrant business environment and growing population, the Kingdom is constantly in search for advanced air conditioning systems that can provide comfort while support economic growth.”
He added that the domestic market for air conditioners continued to boom due to four major factors: a growing population, the establishment of new businesses, continuous declines in equipment prices due to technological advancements and a year-round hot climate.
“These all combine to make Saudi Arabia the world’s biggest air-conditioning market. Individual and corporate purchasers are currently on the lookout for products that are more energy efficient and eco-friendly,” Daou explained.
From May 7 to 10, Saudi Arabia will host the 15th edition of Saudi Energy, the international trade show for electricity, alternative energy, water technology, lighting and HVAC.
Part of the show will include an exhibition of central units, instruments and controls, district cooling, split and window units, ducting and ventilation systems, refrigeration and cooling and industrial fans, vents and grills, among others.