Need a report that reflects how COVID-19 has impacted this market and its growth?
The COVID-19 pandemic disrupted the supply chain and demand patterns, caused economic uncertainties among working individuals which negatively affected the market growth, particularly in 2020. Leading companies manufacturing home appliances mentioned sales have slumped considerably, with many stores remaining shut since the lockdown was introduced in the country.
The volume growth of appliances sold was much higher than the previous several years, indicating the kind of growth to be expected in the next few years in the home appliances market in kuwait. The rising demand for air conditioners, washing machines, and refrigerators is assisting customers in raising their living standards, and the number of homes in kuwait is expanding.
Consumers have been employing efficient gadgets and embracing technologies to better their households as a result of technical advancements in various electronic equipment. These household appliances are more energy-efficient than standard household appliances. The consumer trend toward energy and water efficient appliances is also providing chances for the Kuwait home appliances industry.
Scope of the Report
A home appliance, also referred to as a domestic appliance, an electric appliance or a household appliance, is a machine which assists in household functions such as cooking, cleaning and food preservation. A complete background analysis of the Kuwait home appliances market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview have been covered in the report. The Market is Segmented By Product (Major Appliances (Refrigerators, Freezers, Dish 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
Urban Areas Account for Majority of Sales in Market
The urban area accounted for a major share in total revenue in the home appliance market in Kuwait. There has been an increase in spending capacities of urban Kuwaitis who have been opting for products and services that act as a style statement or status symbol. The mounting need to reverberate with the products has accelerated the demand for personalized appliances that compliment the overall theme of the house and suit the utilitarian requirements of the household.
Basic household appliances, like washing machines, refrigerators, and mixer grinders, that are found in every Indian household have also been witnessing a high demand for the latest and advanced features. Interestingly, the demand for built-in appliances has been gaining thrust due to the perfect amalgamation of cutting-edge design technology and high functionality.
It is expected that an increased supply of electricity, coupled with rising disposable income, may increase the demand for other basic appliances, like mixer grinders, air coolers, and televisions. It may also see an increase in demand for direct cool refrigerators and eventually room air conditioners.
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Growth of the Housing Sector Driving the Market
The housing sector in the Kuwait is likely to generate increased demand for home appliances in the country, thus boosting the future growth prospects of the market. When there is growth in the housing sector, there will be demand for home appliances and the market will continue to grow.
The performance of the housing market has a direct impact on the manufacturing of home appliances. Improvement in living standards and the development of the housing sector fosters the growth of the market. Housing activities have always been there, and appliances like these are making life easier hence increasing the demand for these products.
The Kuwait home appliance market is highly competitive and moderately consolidated, as top players have a high market share in the industry of big and small appliances. Consumers have been becoming more technical understanding, and the manufacturers should be able ready to offer the best technological advancements to the users, thereby, increasing the investment into R&D.
- June 2022: TCL partners with Jashanmal to launch it's new range of AC's. The partnership will enable TCL to reach a wider customer base with its top-of-the-line home appliances and air conditioners (AC).
- Aug 2021: GE Appliances has signed a multi-year partnership deal with Google Cloud to build the next generation of smart home technologies. The partners will combine their expertise GE Appliances in hardware and Google Cloud in data, artificial intelligence, analytics, and machine learning to deliver new smart home technologies and improved experiences.
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 Porters 5 Force 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 of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 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 Small Appliances
220.127.116.11 Coffee/Tea Makers
18.104.22.168 Food Processors
22.214.171.124 Grills and Roasters
126.96.36.199 Vacuum Cleaners
188.8.131.52 Other Small Appliances
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Specialty Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
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 Kuwait Home Appliances Market market is studied from 2018 - 2027.
What is the growth rate of Kuwait Home Appliances Market?
The Kuwait Home Appliances Market is growing at a CAGR of >3% over the next 5 years.
Who are the key players in Kuwait Home Appliances Market?
Bosch, Panasonic, Whirlpool, Orca, Moulinex are the major companies operating in Kuwait Home Appliances Market.