The import of parts for air conditioners to Saudi Arabia saw significant fluctuations from 2013 to 2023, starting with a high of 21.673 million kilograms in 2013, fluctuating over the years, and stabilizing around the mid-15 million kilograms by 2023. The year 2023 recorded a slight increase in imports with a year-on-year variation of 0.066%. The compounded annual growth rate (CAGR) over the last five years remained relatively flat at 0.17%.
Notable Trends over the Last Decade:
- Post-2015, a notable decline occurred due to various market conditions, culminating in the lowest figures in 2020 at 13.001 million kilograms.
- Between 2020 to 2023, the market showed signs of stabilization with small but consistent growth.
Forecasted Future Trends:
- From 2024 to 2028, imports are expected to marginally increase, with a forecasted 5-year CAGR of 0.07%, indicating market stability.
- Future trends to watch for include potential market shifts due to technological advancements, regulatory changes, and shifts in domestic production capabilities.
