Saudi Arabia Portable Air Conditioner - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Saudi Arabia Portable Air Conditioner - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Saudi Arabia's portable air Conditioner Market has generated a revenue of USD 234 million in the current year and is poised to achieve a CAGR of more than 5% for the forecast period.

Key Highlights

• Saudi Arabia has a population of more than 36 Million and, over the years, has observed an incline in its population growth rate. Demand for Air conditioners in Saudi Arabia, after observing a decline during the pandemic, is observing growth in its revenue by holding a significant sale in Major household appliance sales in the country after the pandemic. The rising share of Homeownership in Saudi Arabia, existing at around 62%, makes portable AC a better option for tenants in their accommodation.
• With the advent of COVID-19, online sales of consumer electronics in Saudi Arabia observed a significant rise, reaching 34% of sales last year. The share of air conditioner sales revenue in Saudi Arabia is observing a continuous increase with people's spending on Home appliances increasing.
• Consumer spending in Saudi Arabia has observed a significant rise over the past two years. This creates an opportunity for portable Air Conditional players to expand their market share with advertisements and campaigns to occupy a share of increasing consumer spending in the region. This signifies an available market gap for AC businesses in Saudi Arabia with increasing product innovation and competition.

Saudi Arabia Portable Air Conditioner Market Trends

Rising Household Expenditure On Home Appliances

• Gross national income per capita in Saudi Arabia is observing a continuous increase, and this is leading to people raising their spending for appliances of which portable AC is a part. The average revenue per household through the sales of Air conditioners in Saudi Arabia observed a rise during recent years with the opening of the global economy and a rise in income and expenditure level of the people.
• With rising household expenditure on home appliances, air conditioner manufacturing firms in Saudi Arabia are investing in innovative AC products to increase their share of revenue and regional competence. As Households prefer more technical enabled smart features in their appliances, smart ACs have been launched in the market, which can detect the room temperature and automatically adjust the temperature, attracting households to increase their spending.

Rising Online Sales of Appliances in Saudi Arabia

• The sale of home appliances in Saudi Arabia, either for small or major appliances, has observed a continuous rise through online channels. Consumers prefer to buy portable air conditioner products from the comfort of their homes with all the discounts and offers available in the channel. The share of e-commerce in electronics is observing a continuous increase in the region with rising sales revenue.
• This is leading a large number of existing and upcoming players in the market to make available their products through e-commerce and the company website. Rising online sales are helping manufacturers increase their market sales and reach a large number of the population at the same time. In addition to this, the share of major appliances in online sales has observed a continuous rise over the years, increasing to more than 11.4% last year.

Saudi Arabia Portable Air Conditioner Industry Overview

The Saudi Arabian portable air conditioner market is fragmented with a large number of global players, which makes it quite difficult for small players to extract a share of economies of scale existing in the market. Despite this, with technologically innovative products and increasing online sales rising portable air conditioner market offers space to small players as well. Some of the existing players in Saudi Arabia's Portable Air Conditioner Market are Zamil AC, GREE, Panasonic, LG, and Alessa Industries.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support