Saudi Arabia Home Appliances Market Growth, Trends & Forecasts (2017 - 2022)
Saudi Arabia forms one of the largest home appliances market in the GCC, increasing the purchasing power of consumers. The rapid urbanization is the main driving factor for the growth of the home appliances market in the country. Replacement sales are gaining traction all over the world, with a vast majority of the population willing to replace the existing appliances with smarter, innovative and smaller appliances. A rapid rise in disposable incomes has led to mid to high-income consumers favoring premium, sophisticated and higher priced models and hence pushing the value sales of the consumer appliances in the country.
The Saudi Arabian home appliances market has been estimated at USD XX.XX billion in 2016 and is projected to reach a value of US XX.XX billion by 2021 growing at a CAGR of XX.XX% during the forecast period from 2016 to 2021. Technological innovation has contributed towards improving the standard of living of people across the world. An astronomical change in the way of things can be observed due to the increased disposable incomes of people and the rapid urbanization trends catching up to the different parts of the country.
The Saudi Arabian home appliances market has been segmented on the basis of products into kitchen appliances (electrical ranges, microwaves, cooktops and others), refrigeration appliances (refrigerators, freezing systems and others), washing appliances (washing machines, washer dryer, dryers, steam iron devices and others), room comfort (air conditioners, room heaters, ceiling fans, dehumidifier and others), water heater appliances (storage tank water heaters, solar water heaters, gamma electric iron rods and others), cleaning appliances (vacuum cleaners, dishwashers and others) and entertainment appliances (televisions and others).
The market has also been segmented on the basis of the distribution channel into direct selling, supermarkets, specialty stores, e-commerce, departmental stores and others. Though supermarket and departmental stores have been a favorite for the consumers, e-commerce is expected to be the fastest growing distribution channel during the forecast period due to rapid internet penetration in the country.
The report also considers key trends that will impact the industry and profiles of leading companies with majority market share in the Saudi Arabian home appliances market. Some of the major players in home appliances market mentioned in the report are Haier Electronics Group Co. Ltd, Whirlpool, Electrolux AB, Defy Appliances (Pty) Ltd, Candy Group, LG Electronics, Godrej Group, Panasonic Corporation, Samsung Electronics, Viking Range, LLC, AmicaWronki S.A., Arcelik A.S and Gorenje Group.
What the Report Offers
Market definition for the Saudi Arabian home appliances market, along with identification of key drivers and restraints.
Market analysis for the Saudi Arabian home appliances market, with region-specific assessments.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the Saudi Arabian home appliances market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.