Market Size of Kuwait Major Home Appliances Industry
| 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.
