Market Size of Gas Hobs Industry in GCC
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC Gas Hobs Market Analysis
The GCC appliances market is driven by product innovation due to technical improvement, resulting in the introduction of new goods such as hobs into the market. Hobs are sophisticated gas stoves incorporated into the kitchen slabs, saving a lot of room. Rapidly rising expatriate population and cheap import levies are also contributing to the growth of the GCC gas hobs market. Additionally, increased disposable income and rising living standards are two significant aspects leading to the high demand for gas hobs equipment. The high rise in consumer hobs will fuel the expansion of the GCC gas hobs market by 2027.
As the gas hobs business struggles with supply chain disruption and weaker consumer demand as a result of the economic effect of COVID-19, possibilities exist in products that address heightened hygiene concerns and at-home activities such as cooking in 2020 and beyond. Longer term, the magnitude of the impending economic disruption and the amount of consumer appliance demand lost during the lockdown are the two important 'known unknowns' that will shape future market performance.
Local culture interacts with this crisis - for example, lockdown and Ramadan combine and create an even greater move towards home cooking. Also, brands are radically changing how and where they are spending money. Part of this is a major shift to "online only," but it has larger implications for event sponsorship, especially if planned and paid for in advance.
