Saudi Arabia Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.07 Billion |
| Market Size (2029) | USD 4.99 Billion |
| CAGR (2024 - 2029) | 4.16 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Saudi Arabia Home Appliances Market Analysis
The Saudi Arabia Home Appliances Market size is estimated at USD 4.07 billion in 2024, and is expected to reach USD 4.99 billion by 2029, growing at a CAGR of 4.16% during the forecast period (2024-2029).
Factors like the rising working population and less time for household tasks boost the growth of Saudi Arabia's home appliances market. The increasing disposable incomes of customers and the growing availability of advanced home appliances encourage people in Saudi Arabia to replace existing appliances with small, stylish, and intelligent appliances.
There has been a significant increase in demand for home appliances in Saudi Arabia as people spend more time at home. Because of the shift toward remote work and increased focus on household goods, there is a growing need for appliances such as refrigerators, washing machines, and televisions.
Many consumers prefer using energy-efficient home appliances because they help reduce carbon footprint, prevent greenhouse emissions, and are cost-efficient. So, manufacturers of home appliances in Saudi Arabia are making energy-efficient products that offer a wide range of opportunities to the new market players.
Saudi Arabia Home Appliances Market Trends
Smart Homes are Driving the Market
People in Saudi Arabia prefer smart homes because home appliances incorporated with advanced technology make life easier. Smart home and kitchen appliances are two critical factors in the smart appliance ecosystem.
Smart home appliances help users adjust the system automatically according to their convenience. Improved network infrastructure and high internet penetration increased consumers' demand for wireless and advanced technological products to ensure more security for their families.
Refrigerator Segment is Dominating the Market
Due to Saudi Arabia's increasing population, rising disposable income, changing consumer lifestyles, and growing awareness of energy efficiency and sustainability, the demand for refrigerators in Saudi Arabia is increasing. As more households store and preserve food, refrigerators are highly needed, expanding the market's growth.
With the rising disposable income, consumers in Saudi Arabia are desired to invest in modern, feature-rich refrigerators due to their convenience. So manufacturers are introducing innovative and technologically advanced refrigerators, increasing the market demand.
Saudi Arabia Home Appliances Industry Overview
The Saudi Arabian home appliances market needs to be more cohesive. With the increasing technological advancements and product innovations, mid-size to smaller companies are increasing their market footprints by securing new contracts and tapping new markets. The major players in Saudi Arabia, such as Haier, LG Electronics, Samsung Electronics, Electrolux AB, and Bosch, dominate the market.
Saudi Arabia Home Appliances Market Leaders
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Haier
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LG Electronics
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Samsung Electronics
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Electrolux AB
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Bosch
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Home Appliances Market News
- December 2023: Shaker, Saudi Arabia's leading home appliances importer, partnered with LG Electronics by signing a new supply agreement, including home appliances and entertainment products.
- December 2022: Hisense partnered with Saudi Arabia's United Matbouli Group to expand its operations in the country.
Saudi Arabia Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Disposable Income is Driving the Market
4.2.2 Increasing Construction of Smart Homes Drives the Market
4.3 Market Restraints
4.3.1 Economic Slowdowns Can Impact the Industry
4.3.2 Supply Chain Disruptions Impedes Market Growth
4.4 Market Opportunities
4.4.1 Technological Advancements in Home Appliances
4.5 Value Chain / Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1
5.1.1 By Major Appliances
5.1.1.1 Refrigerators
5.1.1.2 Freezers
5.1.1.3 Dishwashing Machines
5.1.1.4 Washing Machines
5.1.1.5 Ovens
5.1.1.6 Air Conditioners
5.1.2 By Small Appliances
5.1.2.1 Coffee/Tea Makers
5.1.2.2 Food Processors
5.1.2.3 Grills & Roasters
5.1.2.4 Vacuum Cleaners
5.1.2.5 Grills & Roasters
5.2 By Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Specialty Stores
5.2.3 E-commerce
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Bosch
6.2.2 Electrolux AB
6.2.3 Godrej Group
6.2.4 Gorenje Group
6.2.5 Haier Electronics Group Co. Ltd
6.2.6 LG Electronics
6.2.7 Panasonic Corporation
6.2.8 Samsung Electronics
6.2.9 Whirlpool
6.2.10 Philips*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Saudi Arabia Home Appliances Industry Segmentation
A home appliance is a device that helps users do household chores, including cooking, cleaning, and food preservation.
The Saudi Arabian home appliances market is segmented by major appliances (refrigerators, freezers, dishwashers, washing machines, ovens, and air conditioners), small appliances (coffee or tea makers, food processors, grills and roasters, and vacuum cleaners), and distribution channels (supermarkets and hypermarkets, specialty stores, and e-commerce). The report offers market size and forecasts for the Saudi Arabian home appliances market in USD for all the above segments.
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| By Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| E-commerce |
Saudi Arabia Home Appliances Market Research Faqs
How big is the Saudi Arabia Home Appliances Market?
The Saudi Arabia Home Appliances Market size is expected to reach USD 4.07 billion in 2024 and grow at a CAGR of 4.16% to reach USD 4.99 billion by 2029.
What is the current Saudi Arabia Home Appliances Market size?
In 2024, the Saudi Arabia Home Appliances Market size is expected to reach USD 4.07 billion.
Who are the key players in Saudi Arabia Home Appliances Market?
Haier, LG Electronics, Samsung Electronics, Electrolux AB and Bosch are the major companies operating in the Saudi Arabia Home Appliances Market.
What years does this Saudi Arabia Home Appliances Market cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Home Appliances Market size was estimated at USD 3.90 billion. The report covers the Saudi Arabia Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Saudi Arabia Home Appliances Industry Report
Statistics for the 2024 Saudi Arabia Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Home Appliances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
