Saudi Arabia HVAC Market to Grow with a CAGR of 8.53% through 2030
The Saudi Arabia HVAC Market
is expanding due to rapid urbanization, extreme heat, government infrastructure
investments, increasing demand for energy-efficient solutions, and growing
adoption of smart and sustainable cooling technologies.
According
to TechSci Research report, “Saudi Arabia HVAC Market – By Region, Competition,
Forecast & Opportunities, 2030F”, the Saudi Arabia HVAC Market stood at
USD 2.95 Billion in 2024 and is anticipated to grow USD 4.82 Billion by 2030 with
a CAGR 8.53% during
forecast period. The Saudi Arabia
HVAC market is witnessing robust growth, driven by rapid urbanization, extreme
climatic conditions, and large-scale infrastructure projects under Vision 2030.
With temperatures soaring above 50°C in summer, the demand for efficient cooling
solutions is a necessity across residential, commercial, and industrial
sectors. The government’s emphasis on energy efficiency, sustainability, and
smart urban development is further shaping market dynamics. Increasing
investments in real estate, tourism, and industrial expansion are fueling
demand for advanced HVAC systems.
Several trends are reshaping the Saudi
HVAC industry, with smart and IoT-enabled HVAC systems leading the way. These
systems allow real-time monitoring, predictive maintenance, and automation,
significantly improving operational efficiency and reducing energy costs. The
expansion of district cooling in urban areas is another key trend, particularly
in commercial districts, mixed-use developments, and high-rise buildings. The
push for sustainability is also driving the adoption of low-global warming potential
(GWP) refrigerants and hybrid HVAC solutions. Additionally, growing awareness
of indoor air quality, particularly after the COVID-19 pandemic, has led to
increased demand for advanced air purification and ventilation systems across
residential, healthcare, and commercial spaces.
The Saudi Arabia HVAC market is poised
for substantial growth, driven by government policies, urban expansion, and
technological advancements. The transition toward smart cities and sustainable
infrastructure will boost demand for intelligent HVAC solutions, while
increased investments in green buildings will accelerate the shift to
energy-efficient cooling systems. The rise of the HVAC aftermarket, including
retrofitting and maintenance services, presents new business opportunities for
service providers. With growing emphasis on renewable energy, innovations in
solar-powered and hybrid cooling systems are expected to gain momentum.
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The Saudi Arabia
HVAC Market is segmented into service type, end user, regional distribution,
and company.
Based on the end user, commercial segment is the
fastest-growing in the Saudi Arabia HVAC market, driven by rapid urbanization,
large-scale infrastructure projects, and expanding commercial hubs. The
government's Vision 2030 initiatives, including megaprojects like NEOM, The Red
Sea Project, and Diriyah Gate, are boosting demand for advanced HVAC solutions
in office buildings, shopping malls, hotels, and mixed-use developments.
Additionally, rising tourism, hospitality sector expansion, and increasing
foreign investments in retail and entertainment centers further propel the
growth of commercial HVAC systems. The adoption of smart, energy-efficient, and
sustainable cooling solutions is also accelerating, making the commercial
sector the most dynamic in the market.
Based on the region,
Western region is the fastest-growing in the Saudi Arabia HVAC market, driven
by large-scale infrastructure projects, tourism expansion, and megaprojects
under Vision 2030. Cities like Jeddah, Makkah, and Madinah are witnessing
rising demand for HVAC solutions due to increased hotel, commercial, and
residential developments catering to religious tourism. Additionally, The Red
Sea Project and Jeddah Tower are accelerating HVAC adoption, particularly for
district cooling and energy-efficient systems. The region's focus on
sustainable and smart city initiatives, combined with rising population density
and industrial growth, further fuels its dominance as the fastest-growing HVAC
market in Saudi Arabia.
Major companies
operating in Saudi Arabia HVAC Market are:
- Johnson
Controls International plc
- LG
Electronics Inc.
- Mitsubishi
Electric Corporation
- Gree
Electric Appliances Inc. of Zhuhai
- Trane
Technologies plc
- Carrier
Global Corporation
- Midea
Group Co. Ltd.
- Daikin
Industries Ltd.
- Zamil
Industrial Investment Company
- S.K.M.
Air Conditioning LLC
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“The
Saudi Arabia HVAC market is driven by rapid urbanization, extreme climatic
conditions, and government investments in infrastructure projects under Vision
2030. Rising demand for energy-efficient and sustainable cooling solutions is
accelerating market expansion. Key trends include the adoption of smart
IoT-enabled HVAC systems, district cooling expansion, and eco-friendly
refrigerants to reduce carbon footprints. Increasing focus on indoor air
quality and advanced air purification technologies is shaping consumer
preferences.,” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Saudi Arabia HVAC
Market By Type (Direct Expansion Systems, Central HVAC Systems), By End User
(Residential, Commercial, Institutional), By Region, Competition, Forecast
& Opportunities, 2020-2030F”, has evaluated the future growth potential
of Saudi Arabia HVAC Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the Saudi Arabia
HVAC Market.
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