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Due to COVID-19 pandemic, the home appliances market is currently experiencing a slight decline in the retail sales. However, it has also accelerated consumer willingness to upgrade their spending on small home appliances. Their willingness to upgrade can be divided into two parts. Consumers see the home as a reflection of their own personal aesthetic and are putting more emphasis on the smart home concept. In the meantime, design is also important in purchasing premium small home appliances.
The observations from the study period revealed that there has been an increase in demand for compact and energy-efficient appliances. The increasing construction activities are contributing to the market for inbuilt appliances. The drastically changing climatic conditions are also driving the manufacturers towards manufacturing such products. It is becoming a challenge for the manufacturers to reach the requirements of customers who are dynamic about their preferences. The demand for energy-efficient products is being followed by more compact models and sleeker designs. The population growth, technology infiltration, rising purchasing power, and the people's improving lifestyle trends are some of the critical factors on the requirements and purchase decisions of home appliances in the market.
The brands which offer value-added services like periodic after-sale service, extended warranty, replacing a faulty part if required, simple and quick procedures of communication and servicing are the factors that are affecting the consumers decision making once they get a product that fits their requirement of quality and price. Growing demand for new appliances has also been seen with the high number of replacement cycles of old appliances.
Scope of the Report
A complete background analysis of the Egypt Home Appliances Market, which includes an assessment of the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. Egypt Home Appliances Market is segmented By Product Major Appliances (Freezers, Dish Washing Machines, Washing Machines, Ovens, Air Conditioners, and Other Major Appliances) and Small Appliances (Coffee/Tea Makers, Food Processors, Grills And Roasters, Vacuum Cleaners, and Other Small Appliances)), By Distribution Channel (Multi-Branded Stores, Specialty Stores, Online, and Other Distribution Channels).
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
Smart Homes are Driving the Growth of Smart Appliances
The home automation market is now flourishing in Egypt and the number of people requesting smart home services is growing quite significantly. After suffering from a series of stalls over the last five years due to Egypt’s political climate and economic malaise, the local smart home industry is once again growing modestly. There are a handful of small, young companies in the high-end automation sector, selling and installing automation systems that purveyors advertise as reliable, hack-proof and fully customizable.
Around the world, real estate developers are now outfitting new residences and commercial buildings with smart technology from the get-go, including details like automated sprinklers and green energy systems. Egyptian developers are now starting to catch on to this trend. Revenue in the Smart Home market is projected to reach USD 285.30 Million in 2022.
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Rapid Growth of E-Commerce
The social and economic response to the COVID-19 pandemic accelerated digital transformation globally. Egypt was not an exception. Rapidly increasing internet penetration rates have been pushing the e-commerce market to grow in Egypt. A large number of e-commerce platform has also gained the attention of the Egyptians and persuaded them to shift to this platform. Egypt is the 39th largest market for eCommerce with a revenue of USD 5 billion in 2021.Egypt’s Central Bank waived several bank transactions fees for 6 months which it later extended to the middle of 2021. As a result, despite predictions about slowing digital commerce growth in Egypt, Jumia and Noon reported a 940% increase in online sales as the pandemic hit.
With an increase of 44%, the Egyptian eCommerce market contributed to the worldwide growth rate of 29% in 2021. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.
The report covers major international players operating in the home appliances market in Egypt. Some of the major players are LG Electronics, Bosch, Bahgat Group, Carrier Corporation, Samsung. The regions hold a great scope for newcomers to enter by providing higher qualitative appliances, with multi-functional features and products with connectivity features. The region holds a great scope for online distributors as well.
- September 2021: LG Electronics launched a new model of InstaView French Door Refrigerator. The refrigerator reduces the cold air loss by 41%, increasing the efficiency and performance of the refrigerator. The sleek refrigerator houses LG’s UVnano technology which harnesses the power of light to maintain a healthy and germ-free water dispenser tap. The UVnano operates automatically once every hour to remove up to 99.99% bacteria on the refrigerator's dispenser tap.
- March 2021: Samsung Electronics Co. Ltd announced the launch of a new RB7300 refrigerator that delivers core cooling performance while offering a large, flexible capacity to meet all types of food storage needs.
Table of Contents
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 Value Chain / Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 By Major Appliances
22.214.171.124 Dishwashing Machines
126.96.36.199 Washing Machines
188.8.131.52 Air Conditioners
184.108.40.206 Other Major Appliances
5.1.2 By Small Appliances
220.127.116.11 Coffee /Tea Makers
18.104.22.168 Food Processors
22.214.171.124 Grills & Roasters
126.96.36.199 Vaccum Cleaners
188.8.131.52 Others Small Home Appliances
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Speciality Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.2 LG Electronics
6.2.4 Bahgat Group
6.2.5 Carrier Corportation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Egypt Home Appliances Market market is studied from 2018 - 2027.
What is the growth rate of Egypt Home Appliances Market?
The Egypt Home Appliances Market is growing at a CAGR of >3% over the next 5 years.
Who are the key players in Egypt Home Appliances Market?
LG Electronics, Bosch, Samsung, Bahgat Group, Carrier Corporation are the major companies operating in Egypt Home Appliances Market.