SAUDI HVAC-R MARKET TO HIT USD 6.36BN IN 2022
- Saudi Arabia HVAC-R market is set to double from USD 3.33 billion in 2017 to USD 6.36 billion by 2022, as reported by TechSci Research.
- HVACR Expo Saudi (14-16 January 2018 at the Jeddah Centre for Forums & Events) will feature 18 CPD certified workshops.
The market for HVAC-R systems in Saudi Arabia is estimated to reach USD3.33 billion in 2017, and is expected to double to USD6.36 by 2022 at a CAGR of around 13%, reveals the latest from TechSci Research in the lead up to HVACR Saudi Expo, Saudi Arabia’s largest dedicated indoor climate and refrigeration event.
Favourable market drivers such as the rapid development of new economic zones seeing a surge in construction as well as the need to manage extreme climate conditions are reported in “An overview of the Heating, Ventilation, Air Conditioning and Refrigeration (HVAC-R) Market in Saudi Arabia”.
Other forces generating a surge in the HVAC-R market include the increasing demand for cold chain infrastructure to support food imports, as well as the call from government for more energy efficient solutions which is seeing the replacement of conventional cooling systems across the country.
One of the biggest HVAC projects in the world, the overview lists the installation of air conditioning systems in the holy mosques of Makkah and Madinah carried out by Al Salem Controls, highlighting the impact that religious tourism has upon the HVAC-R market.
On the back of the Saudi Vision 2030 plan to diversify the country’s economy, the government has initiated many construction projects valued at around USD 80 billion which are also anticipated to increase the demand for HVAC-R systems. A part of the ambitious Saudi Vision 2030 plan will be to create avenues for new energy-saving technologies in the local HVAC-R industry.
Discussing the industry brief, Event Director for HVACR Expo Saudi Roni El Haddad adds that “Saudi Arabia has emerged as the largest market for indoor cooling and refrigeration in the GCC, making up
close to 50% by value. The lucrative market has attracted many top companies from across the globe to expand their operations in the region.”
“With that said, it is no surprise that next month’s HVACR Expo Saudi will be 20% larger than the last edition in terms of exhibitors. The products on display will show a clear shift towards green and smart technology in the Saudi Arabia HVAC-R market”, he concludes.
HVACR Expo Saudi brings together the most innovative HVAC-R solutions and equipment from local and international manufacturers and is an unmissable platform for HVAC-R industry professionals to network, do business and discover new technologies and trends. There are multiple product launches expected at the event from experienced companies operating within the most populated areas of KSA.
More than just an exhibition, the event offers a broad education agenda featuring 18 free to attend and CPD-certified (continued professional development) workshops curated by trusted regional experts. They will share insight into some of the industry’s most pressing issues from reducing energy costs to meeting new specifications, codes, and regulations, and the evolution towards smart HVAC with the emergence of the Internet of Things.
The Jeddah Chamber of Commerce and Saudi Standards, Metrology and Quality Organization (SASO) are supporting the event, and will be on-site throughout to provide up-to-date information and guidance to visitors.
Platinum Sponsor Carrier, winner of Climate Control Awards for ‘GCC Region Manufacturer of the Year’, ‘Innovative Manufacturer of the Year (Chillers)’, and ‘Manufacturer of the Year (Air – Treatment)’, will come together alongside with Gold Sponsor Zamil, Product Launch Partner Samsung, Registration Sponsor Midea and HH Shaker, and Workshop Sponsor Johnson Control.
Organised by MICE Arabia, co-organised by dmg events Middle East, Asia & Africa, and co-located with FM Expo Saudi and Saudi Clean Expo, HVACR Expo Saudi runs from 14 to 16 January 2018 at the Jeddah Centre for Forums & Events.
Download the full report, www.hvacrexposaudi.com/HVACR market outlook 2018
To know more about HVAC Expo Saudi 2018, visit www.hvacrexposaudi.com