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Report
Bahrain Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The rise in consumer disposable income, improved quality of life, and easy-to-use home appliances have resulted in the growing demand for the market over the previous years. Bahrain has adopted an action plan to improve the standard of living of the average Bahraini. The plan includes improvements in healthcare and education along with an expansion in the existing infrastructure and more housing projects. The demand for small housing units for low and medium-income families has increased considerably in recent years, which would significantly boost the market for home appliances in the country.
Furthermore, the COVID-19 pandemic disrupted the supply chain and demand patterns and caused economic uncertainties among working individuals, which negatively affected the market growth, particularly in 2020. Leading companies manufacturing electrical appliances said sales had slumped majorly, with many stores remaining shut since the lockdown was introduced in the country.
The government is pursuing an ambitious program of developing 40,000 housing units within the next decade. Close to 20,000 units are under construction. The major housing projects are East Hidd City, Diyyar Al Muharraq, Tubli Gardens, Argan, East Sitra, and the Naseej project in Northern City. The Ministry of Housing has also launched a social housing financing program to support the home purchases of Bahraini nationals. Thus with rising infrastructure in the country, the demand for home appliances would witness an upsurge in upcoming years.
Bahrain Home Appliances Market Trends
Rising urbanization leads to higher demand for home appliances
Bahrain's home appliances market has been growing significantly over the past years owing to the rapid deployment of these appliances across residential places, commercial buildings, offices, hotels, and many other places. The market witnessed a slight downturn in the year 2020 because of the Covid-19 pandemic, which led to disruptions in supply chain patterns, and imports were hampered from countries such as China, UAE, etc. Further, the rising integration of home appliances in the country would be supported by the emphasis on construction activities with the Vision 2030 economic development strategy. The strategy seeks to improve infrastructure, industry, housing, and connectivity, which calls for a more diverse economic base, with broader privatization, industrialization, training, and education in Bahrain, thus leading to increased demand for home appliances in the coming years.
Refrigerator is Dominant in Bahrain Home Appliances Market
The home appliances market is being driven by increased purchasing power and better access to high-quality products at an affordable price. The home appliances industry in Bahrain is likely to be driven by advanced internet connections and new sales channels. Refrigerators are generally operated continuously throughout the year, and therefore, annual energy consumption is an important issue associated with the product; hence, they dominate the market in Bahrain in the home appliance industry. Refrigerator market growth is attributed to the expansion of the food and beverage industry, booming tourism, and impending infrastructure development projects.
Bahrain Home Appliances Market Competitor Analysis
The competitive landscape analysis provides a detailed strategic analysis of the company's business and performance, such as financial information, revenue breakup by segment and by geography, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news. The report covers major international players operating in the Bahrain Home Appliances market. Regarding market share, some of the major players currently dominate the market. Some major players present in the market include LG, Bosch, Samsung, and many more.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on impact of technology and innovation in Operation in Home Appliances
4.5 Insights on Performance of Appliance Manufacturers in Bahrain
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Major Appliances
5.1.1.1 Refrigerators
5.1.1.2 Freezers
5.1.1.3 Dishwashers
5.1.1.4 Washing Machines
5.1.1.5 Ovens
5.1.1.6 Air Conditioners
5.1.1.7 Others
5.1.2 Small Appliances
5.1.2.1 Coffee/Tea Makers
5.1.2.2 Grills & Toasters
5.1.2.3 Vacuum Cleaners
5.1.2.4 Food Processors
5.1.2.5 Others
5.2 By Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Online
5.2.3 Specialty Stores
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Samsung
6.2.2 LG Electronics
6.2.3 Whirlpool
6.2.4 Toshiba
6.2.5 Hitachi
6.2.6 Bosch
6.2.7 Sharp
6.2.8 Hoover
6.2.9 Panasonic*
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
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