Rising Disposable Income Coupled with Advancement in home Appliance Technology is Likely to Bolster the Growth of Middle East Home Appliance Market by 2024, Research Nester
“Middle East Home Appliance Market:
Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis
& Opportunity Evaluation”
The
Middle East home appliance market is segmented into product type such as
kitchen
appliances, refrigeration appliances, washing appliances, room comfort, water
heater appliances, cleaning appliances and entertainment appliances. Moreover,
kitchen appliances and room comfort appliance are believed to be the fastest
growing segment in overall Middle East home appliance market by the end of
2024. This growth of kitchen appliances segment is attributed to the growing
adoption of smart technology to cook food.
Middle
East home appliance market is expected to register a 13.2% CAGR
over the forecast period. Moreover, the Middle
East Home Appliance Market is likely to achieve
substantial revenue over the forecast period i.e. 2017-2024. The market is
expected to expand on the back of rising disposable income coupled with
changing lifestyle.
The
Kitchen appliances segment by product type is estimated to register a CAGR
of 12.8% during the forecast period. Furthermore, the kitchen
appliances segment is expected to account for the largest share of
revenue across the globe. Likely, rapid urbanization and rising
demand for kitchen appliances that cooks food easily are bolstering the market
of kitchen appliances.
Growing energy saving concerns
Growing
demand for energy efficient home appliances along with rising adoption of smart
home appliances to curb the electricity usage is propelling the growth of
kitchen appliances market. Further, technological advancement in home
appliances such as microwave and continuous up gradation of home appliances are
believed to bolster the demand for home appliances.
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Rising disposable income
Swelled
disposable income coupled with positive GDP figures of the developed and
developing nations such as U.S., China and others is envisioned to flourish the
demand for home appliances. Moreover, integration of advance technology such as
wi-fi, Bluetooth, RIFD and other into home appliances have intensify the demand
for home appliances. These factors are projected to supplement the growth of
home appliance market by 2024.
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On the
contrary, high cost of smart appliances is anticipated to dampen the growth of
home appliance market during the forecast period. Moreover, low adoption rate
of home appliances in underdeveloped nations is also expected to hinder the
growth of home appliance market.
The report titled “Middle
East Home Appliance Market: Historical Growth (2012-2016) & Future Outlook
(2017-2024) Demand Analysis & Opportunity Evaluation” delivers
detailed overview of the Middle East home appliance market
in terms of market segmentation by product type, by type, distribution channel
and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This
report also provides the existing competitive scenario of some of the key
players of the Middle East home appliance market
which includes company profiling of Haier
Electronics Group Co. Ltd, Whirlpool Corporation, Electrolux AB, LG
Electronics, Panasonic Corporation, Samsung Electronics, Sanford Electronics
Company, Concord Home appliance, Midea Group Co., Ltd., Hitachi, Ltd.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the Middle
East Home Appliance Market that will help industry
consultants, equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected
trends in the future.
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Research
Nester is a leading service provider for strategic market research and
consulting, serving clients from 120+ countries across the globe. We aim to
provide unbiased, unparalleled market insights and industry analysis to help
industries, conglomerates and executives to take wise decisions for their
future marketing strategy, expansion and investment etc.
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
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Info:
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Daniel
Phone:
+91 120 660 5495
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