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Report
Saudi Arabia Small Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 140 Pages I Mordor Intelligence
Saudi Arabia's small home appliances market is expected to rise significantly during the projected period. The increase can be ascribed to technical developments and increased urbanization activities. Furthermore, Saudi Arabia's small home appliances market is predicted to be driven by a rise in the housing sector and changes in consumer lifestyle. The growing consumer preference for energy-efficient appliances due to increased environmental consciousness and the desire for comfort in household tasks adds to the growth of Saudi Arabia's small home appliances market.
Local culture interacts with the situation; for example, lockdown and Ramadan combine to promote a larger shift toward home cooking. Furthermore, businesses are drastically altering how and where they spend their money. Part of this is due to a significant move to "online only," but it has broader ramifications for event sponsorship, particularly if planned and paid for in advance. Supply chains are broken at the source and each level through to consumer engagement points, moving geographically in tandem with lockdown implementation and relaxation. Consumer demand is shifting due to lockdowns and impending economic disaster, but two factors are good. Freezers, air treatment, and tumble dryer demand increased owing to stockpiling and perceived hygienic benefits, while long-term consumer appliance demand increased in a world that welcomes working from home.
Rapid urbanization is the primary driving force behind the country's home appliance industry growth. Replacement sales are gaining pace throughout the world, with the clear majority of people wanting to replace their existing appliances with smarter, more inventive, and smaller appliances. Quick growth in disposable incomes has resulted in mid to high-income consumers selecting premium, sophisticated, and higher-priced models, hence driving home appliance value sales in the country.
Saudi Arabia Small Home Appliances Market Trends
Smart Homes are driving market in Saudi Arabia
A smart home is a suitable home setup where appliances and devices can be automatically controlled distantly from any internet-connected place in the world using a mobile or networked device. Saudi Arabia's small home appliances market has seen substantial year-on-year growth in the number of smart homes and is expected to grow further in the upcoming years. Smart home and smart kitchen appliances are critical components of the smart appliance ecosystem. The self-learning capabilities of smart home appliances assist in automatically modifying the system according to the homeowner's routines. Broadband and internet usage have risen as network infrastructure has improved, and people are increasingly choosing wireless and technologically advanced items to guarantee greater security for their families.
Small Kitchen Appliances holds a major share in Saudi Arabia
Saudi Arabia's small kitchen appliances market is predicted to develop rapidly during the forecast period, owing to the introduction of technologically improved electric appliances and the rising customer desire for these goods. Furthermore, the expanding trend of modular kitchens and the increase in working populations are driving up demand for electric kitchen appliances. As more manufacturers enter the market, consumers have a greater selection of electric kitchen equipment. The government's low import taxes are also assisting in expanding Saudi Arabia's electric kitchen appliances industry. By 2027, the market will likely be further fueled by the introduction of energy-efficient electric kitchen equipment.
Saudi Arabia Small Home Appliances Market Competitor Analysis
Multinational companies in Saudi Arabia mostly sell small household appliances. Some of the biggest competitors now lead the industry in market share. However, thanks to technical improvement and product innovation, mid-size to smaller businesses are expanding their market presence by gaining new contracts and entering new industries. Haier Electronics Group Co. Ltd, Whirlpool, Electrolux AB, LG Electronics, Godrej Group, Panasonic Corporation, and Samsung Electronics are among the top participants in the Saudi Arabia small home appliances market. Leading firms are working on introducing more user-friendly and innovative appliances onto the market by utilizing cutting-edge technologies.
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
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Technological Innovations in the Small Home Appliance Industry
4.5 Insights on government Regulations in the Market
4.6 Value Chain / Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers/Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitute Products
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Coffee Makers
5.1.2 Food Processors
5.1.3 Grills and Roasters
5.1.4 Vacuum Cleaners
5.1.5 Other Small Appliances
5.2 By Distribution Channel
5.2.1 Multi Branded Stores
5.2.2 Specialty Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channel
6 COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 Electrolux Arabia
6.2.2 Haier
6.2.3 Panasonic Corporation
6.2.4 LG Electronics
6.2.5 Samsung Electronics
6.2.6 Maytag
6.2.7 Meiko
6.2.8 Bosch
6.2.9 Honeywell
6.2.10 Siemens
6.2.11 Philips
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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