The Resilient Market of Home Appliances in the GCC Region

The home appliances sector in GCC 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.

 Unlocking Insights: Key Statistics on GCC Home Appliances Market Size and Share

 GCC household appliances market is anticipated to reach (USD 528.3 billion) by 2032, growing at a CAGR of 11.5% between 2018 and 2032. the growing population, increasing levels of urbanization, and rising disposable income have been driving the increased demand and sales of major home appliances in the region. Moreover, the expanding middle class and growing female work-force have been fueling the demand for premium quality, innovative, and performance-enhanced appliances. the demand for refrigerators, kitchen appliances, air conditioners, and washing machines are increasing in the region.

 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. (Source: Mordor Intelligence)

 In 2024, the revenue in the Refrigerators market in GCC amounts to USD 1.22 Billion, It is projected to experience an annual growth of 4.05% (CAGR 2024-2028). (Source: Statista), while imports recorded (USD 1.8 billion) in 2022.

 Likewise, the demand for kitchen appliances in the region is also expected to increase owing to a shift in consumer preferences towards energy-efficient appliances, in addition to the rising trend of single-person households in the region has evidenced an increase in demand for small kitchen appliances that offer convenience and ease-of-use.

 The air conditioner market is another key contributor to the GCC household appliances market. In recent years, cooling demand has consistently grown as the hot and humid weather conditions across the GCC region become increasingly difficult to bear. furthermore, the growing awareness of energy-efficient AC

solutions are expected to drive AC sales in the region during the forecast period. GCC imports for air conditioning reached (USD 3.8 Billion) in 2022.

 Finally, the washing machine market is also expected to grow in the region, as large and middle-income classes are increasingly investing in these appliances. GCC imports for washing machines reached (USD 669 million) in 2022.

 Regarding the top importing country for major home appliances in GCC region, United Arab Emirates occupies the first place with a share of 48% from the total imports, followed by Saudi Arabia, Qatar, and Kuwait with a share of (33%), (7%), and (6%) respectively.

 And for the major supplying markets China holds (44%) share of total imports, followed by Thailand, Italy, and USA with shares of (7%), (5%), and (5%) respectively. Egypt comes in the fifth place and the top supplying market in the middle east with values reached (USD 567.4 million) in 2022.

 Competitive Landscape

 The competitive landscape of the GCC small home appliances market is highly fragmented, with a mix of domestic and international players competing for market share. Some of the key players in the market include multinational companies like Philips, Samsung, LG, and Panasonic, as well as regional players and local manufacturers.

To gain a competitive edge, companies are focusing on product innovation, brand positioning, strategic partnerships, and expanding their distribution networks. Manufacturers are also investing in marketing and advertising campaigns to create brand awareness and engage with consumers.

 

 

United Arab Emirates dominating the Major Home Appliances Market in GCC

 The adoption of heavy energy-efficient appliances is driving the market for major home appliances in GCC. Moreover, a growing population coupled with changing lifestyles is predicted to fuel the growth of the major home appliance market in the United Arab Emirates. Smart home appliances in the United Arab Emirates are also the largest with a growing millennial population, high standard of living, and increasing smartphone penetration.

 The United Arab Emirates has a rapidly growing expatriate population due to migration from other countries. The growing expatriate population and low import duties are supporting the growth of the home appliances market in the United Arab Emirates. Leading companies are working on launching technology-driven home appliances, keeping in mind the need of the working-class population. The important reason behind the rising demand for smart home appliances is the tech-savvy young population. Young people find more value in the concept of smart homes and connected devices mainly because of the convenience that these devices offer.

 Initiatives of government such as Smart Dubai is forecasted to drive the growth of large appliance such as dryers and dishwashers that have completely low diffusion in the region and UAE. Another significant factor is tourism in UAE, and presence of a large number of commercial places like hotels, resorts etc. As a result, the demand for Major Home Appliances in UAE is ever growing.

 Key Industry Developments

 Product Launches and Innovations: Manufacturers are continuously launching new products and introducing innovative features to meet the evolving consumer needs. These

• developments include smart appliances, energy-efficient models, and appliances with advanced functionalities.
• Strategic Partnerships and Collaborations: Companies in the GCC home appliances market are forming strategic partnerships and collaborations to leverage each other's strengths and expand their market reach. These collaborations often involve technology companies, retailers, or distributors.
• Expansion into E-commerce: With the rapid growth of online retail, manufacturers and retailers are expanding their presence on e-commerce platforms. This enables them to reach a wider customer base, offer competitive pricing, and provide convenient purchasing options.
• Sustainability Initiatives: Many companies are focusing on sustainability by incorporating eco- friendly materials, reducing energy consumption, and implementing recycling programs. These initiatives align with the growing consumer demand for environmentally responsible products.

 

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