Need a report that reflects how COVID-19 has impacted this market and its growth?
The quick spread of COVID-19 over the world posed major issues in the form of supply chain disruptions for most manufacturers, including major home appliances in Oman. Limited component availability, labour shortages, and other supply chain-related issues are some of the primary challenges that most industry players are currently focused on.
Technological advancements have led to the development of smart appliances and are expected to drive the market growth over the forecast period. Smart appliances offer advanced features and are more energy-efficient. The rise in consumer disposable income, high living standards, and the need for comfort encourage consumers to upgrade their existing appliances to smarter versions, which is further expected to coerce the market demand.
Consumers widely purchase Major home appliances as they offer ease, diminish efforts, and save time. Product innovation, new product development, product differentiation, and integration of numerous value-added features are further expected to catapult the market demand over the next few years. The market is considerably driven by trends such as effectiveness, diversity, sustainability, stylish design, and smart functionality of home appliances.
The Oman Major home appliance market offers significant growth opportunities as they are easy to use and help improve the quality of life. Moreover, the market is beholding new trends in terms of sustainability and energy efficiency, thereby simplifying several household tasks while endorsing well-being. High-quality materials and aesthetically pleasing designs combined with innovative and diverse functionalities offer avenues for market growth. Design is an important aspect of these white goods.
Scope of the Report
A major appliance, also known as a large domestic appliance or large electric appliance or simply a large appliance, large domestic, or large electric, is a non-portable or semi-portable machine used for routine housekeeping tasks such as cooking, washing laundry, or food preservation. The report offers a comprehensive picture of the major home appliances market in Oman, emerging trends in the segments and regional market, and significant changes in market dynamics and market overview. It also provides data related to major home appliances production and consumption, imports and exports, data related to the competitive system, and company profiles of the major players in Oman. Oman's Major Home Appliance Market is segmented by product type (Refrigerators, Freezers, Dish-washing Machines, Washing Machines, Ovens, Air Conditioners, Other Major Appliances ), and by Distribution Channel (Multi Branded Store, Specialty Stores, Online, Other Distribution Channels)
|By Distribution Channel|
|Multi Branded Store|
|Other Distribution Channels|
Key Market Trends
Smart Homes are Driving the Market
A smart home is a suitable home arrangement in which appliances and gadgets may be remotely and automatically controlled using a mobile or other networked device from any internet-connected location in the world. The number of smart homes in Oman has increased significantly year over year, and this trend is projected to continue in the future years.
Smart home and smart kitchen appliances are essential components of the ecosystem for smart appliances. Self-learning capabilities built into smart home appliances enable the system to be automatically adjusted to the homeowner's schedules. Broadband and internet penetration have increased due to network infrastructure improvements, and consumers are increasingly choosing wireless and technologically advanced items to provide their families with greater protection.
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Refrigerator Segment is Dominating the Market
In Oman major home appliances market, the refrigerator is the key revenue-generating segment. 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 Oman, the market for double door refrigerators has captured the majority of the share and would lead through the forecast period. In the coming years, the demand for energy-efficient refrigerators is exhibited to increase owing to rising electricity consumption.
The development of modern refrigerators with smart technology is projected to propel the industry forward in the future. Refrigerator demand is mostly driven by the household sector, and rising living standards have resulted in increased demand for major home appliances in Oman.
The Oman smart connected refrigerator business is growing due to an increase in the use of the Internet of things (IoT) and increased urbanisation. Furthermore, the increase in people's disposable income and the efficiency of smart linked refrigerators, such as the use of less electricity, were predicted to propel the industry forward.
The report covers major international players operating in the Oman major home appliances market. In terms of market share, some of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
- Aug 2021: LG Electronics (LG) Home Appliance & Air Solution Company has opened a new online showroom, LG HVAC Virtual Experience, as consumers and business have looked to online recourses to help influence their purchase decision, since virtual experiences have become a trend.
- June 2021: BSH, a manufacturer of connected home appliances, has announced the launch of a cooperation with Embedded Voice Recognition Solutions to bring voice automation to its factories. The firm approached Fluent.ai through its Venture Client branch, BSH Startup Kitchen, with the goal of increasing production operator efficiency and improving ergonomics.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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
5.1.4 Washing Machines
5.1.5 Air Conditioners
5.1.6 Microwave Ovens
5.2 By Distribution Channel
5.2.1 Multi Branded Store
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
6.2.2 LG Electronics
6.2.5 Super General
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 Oman Major Home Appliances Market market is studied from 2018 - 2027.
What is the growth rate of Oman Major Home Appliances Market?
The Oman Major Home Appliances Market is growing at a CAGR of >3.5% over the next 5 years.
Who are the key players in Oman Major Home Appliances Market?
Bosch, LG Electronics, Samsung, Panasonic, Super General are the major companies operating in Oman Major Home Appliances Market.