Saudi Arabia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Saudi Arabia

The Saudi air conditioning machine market reduced remarkably to $X in 2022, which is down by -15.5% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -20.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Air Conditioning Machine Production in Saudi Arabia

In value terms, air conditioning machine production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +16.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 53% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Air Conditioning Machine Exports

Exports from Saudi Arabia

In 2022, overseas shipments of non-window or wall air conditioning machines decreased by -13.3% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 310% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports contracted to $X in 2022. In general, exports, however, showed modest growth. The pace of growth was the most pronounced in 2013 with an increase of 164% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for air conditioning machine exports from Saudi Arabia, with a 64% share of total exports. Moreover, air conditioning machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, Italy (X units), sixfold. Oman (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+56.6% per year) and Oman (-8.3% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Saudi Arabia, comprising 58% of total exports. The second position in the ranking was taken by Oman ($X), with a 14% share of total exports. It was followed by Italy, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+5.2% per year) and Italy (+32.7% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, rising by 6.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 225% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the average price for exports to Rwanda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Saudi Arabia

In 2022, after four years of growth, there was significant decline in overseas purchases of non-window or wall air conditioning machines, when their volume decreased by -60.4% to X units. Over the period under review, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 614% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped rapidly in the following year.

In value terms, air conditioning machine imports contracted notably to $X in 2022. In general, imports recorded a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 50% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), Thailand (X units) and China (X units) were the main suppliers of air conditioning machine imports to Saudi Arabia, together accounting for 51% of total imports. The United Arab Emirates, Kuwait, Belgium, Japan and the United States lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +114.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest air conditioning machine suppliers to Saudi Arabia were the United Arab Emirates ($X), China ($X) and Thailand ($X), together comprising 46% of total imports. South Korea, Belgium, the United States, Japan and Kuwait lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Belgium, with a CAGR of +21.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average air conditioning machine import price amounted to $X per unit, with an increase of 27% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 an increase of 1,002% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+113.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform