Kuwait Major Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Kuwait Major Home Appliances Market Analysis
Rapid urbanization, expanding housing projects worldwide, rising per capita income, and changing consumer tastes, with individuals preferring to invest more in appliances to lessen their domestic tasks, are some of the primary reasons driving demand for home appliances in Kuwait. Consumers are becoming more tech-savvy due to technological breakthroughs and expanding digitalization, and they are increasingly drawn to modern appliances for all the benefits they provide.
COVID-19 has disrupted the supply chain of the major home appliances and consumer electronic brands and caused economic uncertainties among working individuals, negatively affecting market growth, particularly in 2020. The shutdown of the production has forced to temporarily hold the production of the finished goods. This led to an increase in the supply and demand gap.
In addition, a growing global trend of smart home equipment is gaining traction. The number of smart appliances being launched into the market is fast expanding, and the growing popularity of smart homes is helping this growth of Major home appliances that can be connected to a customer's smartphone and monitored remotely. Industry technological advancements are also expected to enhance demand for Major home appliances in Kuwait.
Kuwait Major Home Appliances Market Trends
This section covers the major market trends shaping the Kuwait Major Home Appliances Market according to our research experts:
Refrigerator Segment is Dominating the Market
The refrigerator is the key revenue-generating segment in Kuwait's major home appliances market. The market is driven by factors such as a growing number of households, an increasing number of expatriates in the country, surging disposal income, and declining prices. In Kuwait, the market for double-door refrigerators has captured the majority of the share and will lead through the forecast period. In the coming years, the demand for energy-efficient refrigerators will increase owing to rising electricity consumption.
Penetration Rate of Major Home Appliances
Kuwait's major home appliance market In terms of domestic consumer appliances, air conditioners, refrigerators, and washing machines have a high penetration in the country.
Adopting heavy energy-efficient appliances drives the market for major household appliances in Kuwait. Furthermore, the penetration of major home appliance markets in Kuwait is expected to be fueled by a growing population and changing lifestyles.
Kuwait Major Home Appliances Industry Overview
The Kuwait Major Home Appliance Market is competitive and globalized, offering local manufacturers and other manufacturers to enter the market, as the region has low penetration in the market. The region has increased focus on brands and product categories. Consumers are price-sensitive in some segments and look for a product with a guarantee. Some of the major players in the market include Panasonic, Samsung, Bosch, Electrolux, Whirlpool, Midea, Candy, and Toshiba.
Kuwait Major Home Appliances Market Leaders
Panasonic
Samsung
Sharp
Midea
Electrolux
*Disclaimer: Major Players sorted in no particular order
Kuwait Major Home Appliances Market News
- In May 2022, Leica and Panasonic signed a strategic, comprehensive collaboration agreement and developed "L2 Technology" as a symbol of the collaboration.
- In May 2022, TCL Electronics, the global LCD TV brand and a pioneer in consumer electronics and home appliances, announced the launch of its new C Series TV line-up and home appliances in the Middle East & Africa (MEA).
Kuwait Major Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Washing Machines
5.1.4 Dish Washers
5.1.5 Microwave Ovens
5.1.6 Air Conditioners
5.1.7 Other Products
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Specialty Stores
5.2.3 Online
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Panasonic
6.2.2 Samsung
6.2.3 Electrolux
6.2.4 Midea
6.2.5 Whirlpool
6.2.6 Bosch
6.2.7 Toshiba
6.2.8 Candy
6.2.9 Sharp
6.2.10 Beko*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Kuwait Major Home Appliances Industry Segmentation
The report offers a comprehensive picture of Kuwait's major home appliances market, emerging trends in the segments and regional market, and significant changes in market dynamics and market overview. It also provides data on production and consumption, imports and exports, data related to the competitive system, and company profiles of the major players in Kuwait's major home appliances market. The Kuwait Major Home Appliances Market is Segmented By Product Type ( Refrigerators, Freezers, Washing Machines, Dish Washers, Ovens, Air Conditioners, and Other Products), By Distribution Channel (Multi-Branded Stores, Specialty Stores, Online, and Other Distribution Channels).
| By Product Type | |
| Refrigerators | |
| Freezers | |
| Washing Machines | |
| Dish Washers | |
| Microwave Ovens | |
| Air Conditioners | |
| Other Products |
| By Distribution Channel | |
| Multi-Branded Stores | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
Kuwait Major Home Appliances Market Research FAQs
What is the current Kuwait Major Home Appliances Market size?
The Kuwait Major Home Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Kuwait Major Home Appliances Market?
Panasonic, Samsung, Sharp, Midea and Electrolux are the major companies operating in the Kuwait Major Home Appliances Market.
What years does this Kuwait Major Home Appliances Market cover?
The report covers the Kuwait Major Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Kuwait Major Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Kuwait Major Home Appliances Industry Report
Statistics for the 2024 Kuwait Major Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Kuwait Major Home Appliances analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
