Market Size of Israel Home Appliances Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Israel Home Appliances Market Analysis
The Israel Home Appliances Market is expected to register a CAGR of greater than 5% during the forecast period(2024-2029).
The country's expanding tourism industry and the expat population are the main drivers of the market. People from other countries, young people, and people from working-class backgrounds made up a larger share of the growing population. Many large-scale malls and shopping centers are presently under development in Israel amid governments' and private players' investments in developing infrastructure to complement the growing population, a rising tourism sector, and increasing GDP per capita.
COVID-19 disrupted the global supply chain of major home appliances and consumer electronics brands. Due to the COVID-19 outbreak, the Israel home appliance industry faced a temporary period of insufficient production capacity in the first half of 2020; however, the market is again regaining its strength in the second half. Online retail channels witnessed a massive surge in demand as people tend to stay at home to quarantine themselves.
Increased international brands have intensified competition within the retail market. Increased penetration of various high-end retailers and demand for retail space have recently increased the rental rates in Israel. Furthermore, retailers are pressured by the new labor localization laws, market-priced utility costs, and new tax measures such as value-added tax (VAT).
