Market Trends of Kuwait Kitchen Hoods Industry
This section covers the major market trends shaping the Kuwait Kitchen Hoods Market according to our research experts:
Growing Urbanization is Driving the Demand for the Market
The urban population in Kuwait is anticipated to display a significant adoption rate and substantial growth in kitchen hood market revenue. Almost all Kuwaitis are scattered throughout urban areas, and with the Arabian Desert covering most of its land mass, the country has one of the highest urbanization rates in the world. The educational system in Kuwait developed into a fully advanced and complex system, providing equal opportunities for all, regardless of their social status. Given its success, the country today has one of the highest literacy rates.
Apart from changing lifestyles and working styles, urbanization has led to growth in the organized retail sector. This, in turn, has led to a change in consumers' buying behaviour. In particular, the decision-making process before buying something has been significantly affected. The rise in urbanization has also led to people having additional disposable income.
The market is anticipated to witness steady demand for kitchens hood due to rising spending capacity and rapid urbanization. Consumers are progressively seeking value-added products that can enhance the home living experience and are affordable at the same time.
Growing Residential Construction is Driving the Market
The sustainable living environment axis in Kuwait Vision 2035 includes five pillars, the most prominent of which is to provide housing care to citizens through what is planned, to ensure the provision of 65.5 thousand housing units through five projects costing about KWD 3.22 billion (USD 10.5 billion), the last of which ends by 2029. The housing question is a top priority for the government, which does its utmost to provide adequate funding for the Public Authority for Housing Welfare (PAHW) to meet its obligations towards the people of Kuwait. When the implementation of these projects is completed, the state will have met approximately 72% of the current housing requests, which stands at 91,000. The growing residential housing construction in Kuwait will demand for modular kitchens, which will furthur rise the demand for kitchen hoods market in Kuwait.
Along with rising residential construction projects, smart homes in Kuwait are also rising due to rapid urbanization and per capita income. Smart home will demand the need for kitchen hoods in the country.
