Market Trends of Concealed Cistern Industry in GCC
This section covers the major market trends shaping the GCC Concealed Cistern Market according to our research experts:
Growth in Real Estate and Construction Fueling Market for Concealed Cistern
In 2020, residential sales prices in the Gulf Cooperation Council observed a negative change resulting in a decline in the prices of household and commercial buildings. However, by 2022, demand for housing in the Gulf Cooperation Council is estimated to be 3.96, 0.98, 0.47, 0.4, 0.2, and 0.15 million for countries Saudi Arabia, UAE, Kuwait, Oman, Bahrain, and Qatar, respectively. This signifies a large requirement for investment as well as the construction of bathrooms and kitchens. An above-average increase in the real estate industry is observed for GCC countries during 2021-2022.
Construction Industry Driving Growth for Concealed Cistern Market
With COVID-19, tourism had collapsed, and demand for office space has also plummeted, while many retail sites lie empty due to shop closures and a huge reduction in the number of visitors. Gulf Construction Expo (formerly called golf bid expo) going to be held in 2023 will be 'Building for the Future' through the showcase for the Construction and Building Materials sector. This provides the construction sector as well as concealed cistern market an opportunity in the GCC with a professional platform for networking, investment, and the exchange of ideas and information.
Concealed cisterns with their advanced technology and luxury are providing comfort with minimum space, it is been adopted by a majority of sectors. The construction of commercial and residential buildings is a factor affecting the demand for concealed cisterns for bathrooms in commercial as well as residential spaces. Saudi Arabia and UAE are leading economies of the Gulf and with an impact on the construction industry in these countries, concealed cistern demand is affected proportionally.
