Qatar Kitchen Appliances Market
Global kitchen appliances market has witnessed growth despite the economic slowdown across some of the major economies after the 2009 recession, Eurozone crisis. However, Qatar has remained relatively immune to these challenges, but has experienced an economic stagnation of its own which affects a number of markets, including home and kitchen appliances.
The market for home appliances in Qatar is, in large part driven by kitchen appliances. Qatar’s economy, which experienced a stagnation about the 2008 financial crisis is now picking pace, and all sectors including home and kitchen appliances revenues have risen. The Qatar kitchen appliances market is characterized by proliferation of both international as well as local brands engaged in competition across mass and premium categories, a large tourist population involved in shopping because of tax rebates, a distribution highly dependent on hypermarkets with tie ups with manufacturers of branded as well as private label goods, and a large range of products available because of the income disparity existing in the country. Kitchen appliances include large appliances like refrigerators, dishwashers, microwaves and ovens, gas stoves, chimneys, and smaller appliances like juicers/mixers, coffee and tea makers, toasters, air fryers, and non-cooking small items like kettles, knives, scales, graters, etc. Ecommerce, underdeveloped as of now, will pose a challenge to traditional hypermarkets in the future.
The Qatar market for kitchen appliances was worth US$ X.X bn as of 2014, and is expected to grow to US$ X.X bn by 2020, growing at a CAGR of X.X% over the forecast period. Small appliances are expected to grow at a CAGR of X.X% from US$ X.X bn in 2014 to US$ X.X bn in 2020. Large appliances are worth US$ X.X bn as of 2014, and are expected to grow at CAGR X% to US$ X.X bn in 2020.
The latest trend in home appliances, including kitchen appliances is that of energy efficiency, and connectivity in line with IoT (Internet of Things), wherein most appliances can be remotely controlled, or are equipped with sensors designed to auto manage the appliances. Smart appliances, as they are called, alone are expected to drive this category ahead to achieve higher growth rates. With new and other houses going through refurbishing, kitchen appliances can be chosen to fit the size of the kitchen. The appliances are equipped with frills, or are available without frills across several price ranges.
Some notable companies included in the report are Electrolux, GE, Panasonic, Samsung, Murphy Richards, Phillips, Bosch, Hamilton, and LG, which is the market leader in Qatar due to its early presence in the region.
A minimum level of disposable income available for everyone, high level of investment across sectors, attractive and aggressive marketing tactics across mass market and premium segments, incremental innovations across product classes, discount and credit schemes on ecommerce sites and hypermarkets, increasing purchasing power, increasing urbanization and inclusion of women in the workplace, rising real estate markets are some of the drivers of this market.
Stagnation of the economy, intense competition are some of the challenges of this market.
What the report offers
Market Definition for the Kitchen Appliances along with identification of key drivers and restraints for the market
Market analysis for the Qatar Kitchen Appliances Market, with region specific assessments and competition analysis on a Qatar and regional scale
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a Qatar and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
Identification and analysis of the Macro and Micro factors that affect the Qatar Kitchen Appliances Market on both Qatar and regional scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information