Until the 1930s, the Saudi economy had little to boast, with the major part of it made by subsistence living, wherein people rely on natural resources for their basic needs. But, since the development of oil fields in 1933, Saudi has become one of the most-important countries for the global economy, as it is the largest exporter of crude oil (petroleum).

The kingdom’s financial prosperity, as a result, has sparked a construction boom here, which, in itself, is now a major engine of its economic growth. As per P&S Intelligence, the rampant construction activities will likely take the Saudi Arabian HVAC market value from $2,476.1 million in 2020 to $4,821.8 million in 2030, at an 8.1% CAGR between 2021 and 2030.

This is because, occupying a major part of the Arabian Desert, the kingdom witnesses perpetually hot and dry weather, which makes air conditioning important. Earlier ventilated by traditional wind catchers, Saudi buildings are now being equipped with modern HVAC systems. With the rapid economic growth, cities are expanding, which is leading to the increasing infrastructure spending to sustain the booming urban population.

For instance, $23 billion are being spent to construct Riyadh Metro, which will have six lines and 85 stations. Similarly, Jeddah Metro will have 46 stations across three lines. HVAC systems are one of the biggest requirements at metro stations, underground tunnels, and inside the trains, which is why the demand for such systems is rising in the kingdom.

Hence, with economic growth, the installation of HVAC systems, especially air conditioners, will burgeon in Saudi Arabia.