Market Size of Saudi Arabia Gas Hobs Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Saudi Arabia Gas Hobs Market Analysis
The COVID-19 pandemic has restricted the construction of housing and building projects and the lockdown restrictions have limited the new purchases owing to the uncertainty in the economy and purchasing power parity but is anticipated to bounce back during the forecast period with the changing situations and customers approach towards the pandemic.
Primary factors driving the industry include increasing per capita income, rising spending capacity, westernization, and product innovation by the market players. Manufacturers are innovating different products in order to keep up with the pace of technological advancement, thus driving the market to the positive side.
However, high price of the product can act as a restraining factor in the market as major population of the consumer group is economical, thus the market can be pulled by other economical cooktops in the coming years. Although, manufacturers are investing heavily in research and development to expand their product line and introduce the product in low budget.
