Rising disposable income and low appliances possession rates are driving the demand for appliances in the GCC countries. Steady growth in hospitality and residential real estate markets with digitalization and economic recovery is expected to increase the demand for small home appliances in the market.
The steady growth of hospitality and residential real estate markets, digitalization, and economic recovery in emerging markets are all important trends that are boosting demand for purchasing and trading UAE consumer electronics. The implementation of VAT in the market can hamper the spending on non-essential items such as appliances in the short term.
Key Market Trends
UAE Small Home Appliances Market is Growing Fastest
The UAE small home appliances market is poised to grow fastest in terms of sales of small home appliances. The real estate market and ex-pat community of UAE is driving the small home appliances market in the GCC region. The growing population along with high-income earners people leading to the growth of premium appliances in the market. The growing number of tourists are also impacting the consumption of appliances in the country. The changing lifestyle is also having an impact on the consumption of smart home appliances, which is further going to add to the growth of the market. The growing concerns over energy consumption are also expected to effecting the market with more energy-efficient appliances in use.
Rise in Demand of Vacuum Cleaners
Vacuum cleaners are used in both residential and commercial spaces. The urge for cleanliness, technological advancements, and continuous innovations is driving the market for vacuum cleaners in the households for the GCC countries. emerging online distribution channels and an increase in the use of the internet are some of the factors attributed to the growth of vacuum cleaners in the market. Cylinder vacuum cleaners are becoming more popular in the GCC countries. Smart devices and technological development are expected to support the growth of the market in the projected period. There has been a shift toward energy-efficient appliances across all categories.
Competitive Landscape
The development of the market varies between countries across GCC. The e-commerce market is offering opportunities by increasing website from the hypermarkets in the UAE. Discounts and promotion strategies are opted by retailers and manufacturers to retain their position in the market. The market is dominated by foreign manufacturers and there is scope for replacement sales in the market.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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