Saudi Arabia Air Duct Market to Generate $74.8 Million Revenue by 2030
- Published: November 2022
The Saudi Arabian air duct market size is expected to advance at a CAGR of 8.4% during 2021–2030, to reach $74.8 million by 2030. The primary factor driving the market expansion is the rising adoption of these components in various commercial spaces and the residential sector. This is because these components offer efficient airflow control and comfort, which are becoming the key parameters on which people now judge HVAC appliances.
In the coming 20 years, the Government of Saudi Arabia is expected to spend billions of dollars on infrastructure projects, which will raise the demand for air ducts in the residential and commercial sectors. A trillion-dollar pipeline of infrastructure projects has been proposed by Saudi Arabia in an effort to diversify its economy away from oil and establish itself as a worldwide hub for logistics and investment.
Some of the major infrastructure sector projects already underway are Qiddiya Entertainment project, NEOM project, and Red Sea Development. Hence, the Saudi Arabian construction boom and rising infrastructure spending are contributing to the country's expanding HVAC sector. The growth plan has opened opportunities in a wide range of industries, including renewable energy, smart cities, and tourism.
Revenue of Galvanized Steel Holds Highest Revenue
The galvanized steel category is expected to continue generating the highest revenue throughout the forecast period. Zinc coating on steel helps prevent corrosion and rusting, which enables manufacturers to maximize the lifespan and toughness and lower the maintenance costs of steel ducts. Moreover, mild steel is pliable and can be fabricated into almost any shape with relative ease. This makes it useful for uncommon HVAC system designs and specific installation requirements.
Hospitality Application To Witness Fastest Growth
This hospitality category is expected to grow the fastest during the forecast period. Saudi Arabia's government is bolstering its tourism sector as part of its Saudi Arabia Vision 2030 project. Saudi Arabia’s tourism sector already has one of the highest growth rates around the world, because of its religious significance. The Kingdom of Saudi Arabia moved up 10 places, to the 33rd, in the 2021 World Economic Forum (WEF) Travel and Tourism Development Index.
The most-significant Saudi Arabian air duct market players are Sharqawi Air Distribution System Factory, Safid Co. Ltd., Arabian Thermal Aire Industries Co. Ltd., Gulf Heavy Industries Co., Empower Air Technologies, Technical Duct Factory, Air Duct Factory, Saudi Akhwan Ducting Factory Co. Ltd., NAVCO, Century Mechanical Systems Group (CMS), Zamil Air Conditioners, Trane Technologies plc, Al Salem Johnson Controls, and Cold Oasis Group (COG).