Market Size of Bahrain Home Appliances Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | > 4.30 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Bahrain Home Appliances Market Analysis
The rise in consumer disposable income, improved quality of life, and easy-to-use home appliances have resulted in the growing demand for the market over the previous years. Bahrain has adopted an action plan to improve the standard of living of the average Bahraini. The plan includes improvements in healthcare and education along with an expansion in the existing infrastructure and more housing projects. The demand for small housing units for low and medium-income families has increased considerably in recent years, which would significantly boost the market for home appliances in the country.
Furthermore, the COVID-19 pandemic disrupted the supply chain and demand patterns and caused economic uncertainties among working individuals, which negatively affected the market growth, particularly in 2020. Leading companies manufacturing electrical appliances said sales had slumped majorly, with many stores remaining shut since the lockdown was introduced in the country.
The government is pursuing an ambitious program of developing 40,000 housing units within the next decade. Close to 20,000 units are under construction. The major housing projects are East Hidd City, Diyyar Al Muharraq, Tubli Gardens, Argan, East Sitra, and the Naseej project in Northern City. The Ministry of Housing has also launched a social housing financing program to support the home purchases of Bahraini nationals. Thus with rising infrastructure in the country, the demand for home appliances would witness an upsurge in upcoming years.
Bahrain Home Appliances Industry Segmentation
A complete background analysis of the Bahrain Home Appliances market, which includes an assessment of the National accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview, is covered in the report. Bahrain Home Appliances Market is segmented by Product (Major Appliances, Small Appliances) and by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online, Other Distribution Channels).
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Bahrain Home Appliances Market Size Summary
The home appliances market in Bahrain has experienced significant growth over recent years, driven by increased consumer disposable income and an enhanced quality of life. The government's action plan to elevate the standard of living, which includes advancements in healthcare, education, and infrastructure, has spurred demand for home appliances. The rise in small housing units for low and medium-income families has further contributed to this demand. However, the market faced challenges during the COVID-19 pandemic, which disrupted supply chains and led to economic uncertainties, causing a temporary decline in sales. Despite these setbacks, the government's ambitious housing projects and social housing financing programs are expected to boost the market in the coming years.
The integration of home appliances across various sectors, including residential, commercial, and hospitality, has been a key driver of market expansion. The Vision 2030 economic development strategy, focusing on infrastructure, industry, and housing, is set to further enhance demand for home appliances. The market is characterized by increased purchasing power and access to high-quality products, with refrigerators leading due to their continuous operation and energy consumption considerations. The competitive landscape features major international players like LG, Bosch, and Samsung, who are innovating to meet evolving consumer needs. Recent developments, such as LG's upgradable appliances and Samsung's advanced soundbar technology, highlight the industry's focus on adapting to changing lifestyles and enhancing consumer experiences.
Bahrain Home Appliances Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Insights on impact of technology and innovation in Operation in Home Appliances
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1.5 Insights on Performance of Appliance Manufacturers in Bahrain
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Major Appliances
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2.1.1.1 Refrigerators
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2.1.1.2 Freezers
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2.1.1.3 Dishwashers
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2.1.1.4 Washing Machines
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2.1.1.5 Ovens
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2.1.1.6 Air Conditioners
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2.1.1.7 Others
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2.1.2 Small Appliances
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2.1.2.1 Coffee/Tea Makers
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2.1.2.2 Grills & Toasters
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2.1.2.3 Vacuum Cleaners
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2.1.2.4 Food Processors
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2.1.2.5 Others
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2.2 By Distribution Channel
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2.2.1 Supermarkets and Hypermarkets
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2.2.2 Online
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2.2.3 Specialty Stores
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2.2.4 Other Distribution Channels
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Bahrain Home Appliances Market Size FAQs
What is the current Bahrain Home Appliances Market size?
The Bahrain Home Appliances Market is projected to register a CAGR of greater than 4.30% during the forecast period (2024-2029)
Who are the key players in Bahrain Home Appliances Market?
LG, Bosch, Samsung, Whirlpool and Hitachi are the major companies operating in the Bahrain Home Appliances Market.