Market Size of Concealed Cistern Industry in GCC
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Concealed Cistern Market Analysis
The concealed cistern market in the GCC is poised to grow at a CAGR of greater than 3.5% during the forecasted period. As the name suggests instead of being on display, the cistern element of the toilet is concealed, either behind a wall or within a furniture unit, with just the toilet pan visible. This helps contribute to a cleaner, more minimalist style bathroom that's both easy to maintain and stylish.
The COVID-19 pandemic and the decline in global oil demand and prices dealt the GCC countries a health crisis and a commodity market shock causing a GDP contraction of 4.8% in 2020. The three countries with the largest deficits in 2020 were Kuwait, Bahrain, and Oman. Oil supply cutbacks and the four-year-low average oil price of USD 41.30 per barrel slashed the region's goods and services exports by 8.1% in real terms and turned the current account surplus of 6.8% of GDP in 2019 into a deficit of 2.9% of GDP in 2020 having a ripple effect on all the markets connected.
In 2022, on an average GCC countries have a GDP of 4% and with the real estate sector contributing almost 15% to GDP, more is expected by people to spend on modernizing toilets and bathrooms. In 2021-2022, Saudi Arabia observed around an 8% annual growth rate of residential and non-residential buildings signifying the market for a concealed cisterns in newly constructed buildings and houses.
