Market Size of GCC Major Home Appliances Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 3.00 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
GCC Major Domestic Appliances Market Analysis
COVID-19 had a drastic impact on the Major Home Appliances Market in GCC. The supply chain was completely disrupted and the production activities were discontinued in major areas. However there was increase of online sales of Major Home Appliances and the same trend is expected to continue in the coming years.
The GCC Major Home Appliances Market is currently undergoing a significant change where consumers are starting to shift from traditional products towards more spontaneous, elegant, and appealing products. The increase in purchasing power and improving lifestyles are fostering the demand for smart home appliances around the world, especially across the GCC, where the residents embrace a premium standard of living making it a way of life for many. Refrigerators and large cooking appliances are typically the first appliances purchased once personal income levels reach a sufficient level, followed by washing machines. Freezers will register the fastest sales gains of any major appliance type. Demand for freezers will be boosted in low and middle income countries where usage levels are extremely low by a growing need for additional freezer space as per capita incomes and food spending rise. The comparatively low cost of separate freezers will drive gains as well.
In addition, Major Home Appliance producers offer basic, lower-value appliances in GCC nations to help boost sales. Demand gains in these countries will be more modest, with the majority of sales stemming from replace- ment purchases. Additionally, population and household growth are slower in the GCC region, limiting new housing-related sales opportunities. Overall the market is expected to grow at an optimal level in the coming years.
GCC Major Domestic Appliances Industry Segmentation
The Major Home Appliances include all the primary equipment required in the daily activities for household purposes. The report offers a comprehensive picture of the major home appliances market in GCC region, emerging trends in the segments and regional market, and significant changes in market dynamics and market overview. It also provides data related to home appliances production and consumption, imports and exports, data related to the competitive system, and company profiles of the major players. GCC Major Home Appliance Market is segmented By Product (Refrigerators, Freezers, Dish-washing Machines, Washing Machines, Cookers and Ovens, Air Conditioners, Others), By Distribution Channel (Multi-Branded Stores, Specialty Retailers, Online and Other Distribution Channels) and By Geography (United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar and Kuwait).
By Product | |
Refrigerators | |
Freezers | |
Dishwashing Machines | |
Washing Machines | |
Cookers and Ovens | |
Air Conditioners | |
Others |
By Distribution Channel | |
Multi-Branded Stores | |
Specialty Retailers | |
Online | |
Other Distribution Channels |
By Geography | |
United Arab Emirates | |
Saudi Arabia | |
Bahrain | |
Oman | |
Qatar | |
Kuwait |
GCC Major Home Appliances Market Size Summary
The GCC Major Home Appliances Market is experiencing a transformative phase, driven by a shift in consumer preferences towards more sophisticated and appealing products. This change is largely attributed to increased purchasing power and enhanced lifestyles, which are fostering a growing demand for smart home appliances. The region's residents, who often embrace a premium standard of living, are increasingly opting for appliances that offer convenience, security, and energy efficiency. The market is witnessing a rise in online sales, a trend that is expected to persist, further propelled by the digitalization and internet connectivity across GCC countries. Smart home technology, including IoT and automation, is simplifying home environments and enhancing the functionality of large appliances through wireless protocols. The United Arab Emirates and Saudi Arabia are leading in smart home adoption due to their higher urbanization and improved living standards.
The market for major home appliances in the GCC is characterized by a competitive and fragmented landscape, with both global and local players vying for market share. The demand for energy-efficient and smart appliances is on the rise, particularly in the United Arab Emirates, where a growing millennial population and high smartphone penetration are driving trends. Government initiatives like Smart Dubai are expected to boost the adoption of large appliances, such as dryers and dishwashers, which currently have low penetration in the region. Additionally, the UAE's tourism sector and the presence of numerous commercial establishments are contributing to the increasing demand for major home appliances. The market is also seeing strategic collaborations, such as the joint venture between Arçelik A.Ş. and Hitachi Global Life Solutions, aimed at expanding their presence in GCC countries like Saudi Arabia, Qatar, and Kuwait.
GCC Major Home Appliances Market Size - Table of Contents
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1. INDUSTRY 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 Value Chain / Supply Chain Analysis
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1.5 Industry Attractiveness - Porters 5 Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights of Technology Innovations in the Market
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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 Refrigerators
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2.1.2 Freezers
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2.1.3 Dishwashing Machines
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2.1.4 Washing Machines
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2.1.5 Cookers and Ovens
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2.1.6 Air Conditioners
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2.1.7 Others
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2.2 By Distribution Channel
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2.2.1 Multi-Branded Stores
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2.2.2 Specialty Retailers
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2.2.3 Online
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2.2.4 Other Distribution Channels
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2.3 By Geography
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2.3.1 United Arab Emirates
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2.3.2 Saudi Arabia
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2.3.3 Bahrain
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2.3.4 Oman
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2.3.5 Qatar
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2.3.6 Kuwait
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GCC Major Home Appliances Market Size FAQs
What is the current GCC Major Home Appliances Market size?
The GCC Major Home Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in GCC Major Home Appliances Market?
Hitachi, Ltd., Panasonic Corporation, BSH Home Appliances Group , Electrolux AB and Whirlpool are the major companies operating in the GCC Major Home Appliances Market.