Market Trends of Qatar Major Home Appliances Industry
This section covers the major market trends shaping the Qatar Major Home Appliances Market according to our research experts:
Rising Construction activities in Qatar is Driving the Market
In Qatar, the construction industry stood second in yielding the highest contribution to GDP, by contributing 15% of the total economy. According to official statistics, there was a strong year-on-year surge in the building permits issued in five municipalities in October 2021 compared with an overall decline at the national level. Qatar issued a total of 685 building permits in October 2021, with Al Rayyan, Al Wakra, and Al Daayen municipalities together constituting as much as 65% of the total as per figures released by the Planning and Statistics Authority (PSA). Qatar's booming construction industry is also encouraging the sales of home appliances, as customers are highly interested to procure their new home with the latest appliances and furniture that fits their home size and give their home an attractive look. Moreover, this trend is guiding the appliance manufacturers to produce their products, which is likely to meet consumers' preferences for compact home appliances that easily fit into smaller spaces without reducing their functionality.
Increasing Smart Homes in the Country is Boosting the Market
Qatar held the third largest share in the Middle East smart homes market. High standard of living and high concentration of the country's population in urban areas are positively influencing Qatar smart homes.Qatar smart homes market is expected to register healthy growth rate in the coming years on account of favorable government initiatives towards energy efficiency and building smart cities. Moreover, high per capita income and growing preferences for luxurious homes coupled with increasing Internet of Things (IoT) market is expected to positively influence the country's smart homes market. With the growing smart homes consumers are increasingly opting for wireless and technologically advanced products, mostly for the convenience they offer.
