GCC Major Home Appliances Market Size

GCC Major Domestic Appliances Market Analysis

COVID-19 had a drastic impact on the Major Home Appliances Market in GCC. The supply chain was completely disrupted and the production activities were discontinued in major areas. However there was increase of online sales of Major Home Appliances and the same trend is expected to continue in the coming years.

The GCC Major Home Appliances Market is currently undergoing a significant change where consumers are starting to shift from traditional products towards more spontaneous, elegant, and appealing products. The increase in purchasing power and improving lifestyles are fostering the demand for smart home appliances around the world, especially across the GCC, where the residents embrace a premium standard of living making it a way of life for many. Refrigerators and large cooking appliances are typically the first appliances purchased once personal income levels reach a sufficient level, followed by washing machines. Freezers will register the fastest sales gains of any major appliance type. Demand for freezers will be boosted in low and middle income countries where usage levels are extremely low by a growing need for additional freezer space as per capita incomes and food spending rise. The comparatively low cost of separate freezers will drive gains as well.

In addition, Major Home Appliance producers offer basic, lower-value appliances in GCC nations to help boost sales. Demand gains in these countries will be more modest, with the majority of sales stemming from replace- ment purchases. Additionally, population and household growth are slower in the GCC region, limiting new housing-related sales opportunities. Overall the market is expected to grow at an optimal level in the coming years.