Market Trends of Egypt Major Home Appliances Industry
Rising Residential Housing is Driving the Market for Major Home Appliances in Egypt
With an increase in residential housing, demand for major home appliances is increased to push production. The performance of the housing market has a direct impact on the manufacturing of major home appliances. The residential housing sector in Egypt is expected to generate increased demand for major home appliances, thus boosting the market's prospects. Additionally, increasing home renovation activities in the country may drive the demand for major appliances in the short term. Increasing exports is also a factor due to which the demand for major appliances is increasing across the country. Egypt is located at the crossroads of Asia, Africa, and Europe and is blessed with significant marine routes. Egypt’s strategic location serves as an ideal gateway for exporting and trading with the world. The monthly report of the Export Council stated that engineering exports increased by more than 25% last year compared to the previous year.
Refrigeration Appliances Account for Significant Market Share
Amongst the major appliances, the refrigeration appliances segment accounts for a significant market share in terms of revenue. Companies like Samsung and LG have paved their way into the smart connected refrigerator space and are offering products with special features such as touchscreen and flexible user-controlled cooling options. Refrigerators are used to preserve edible items at a range of different temperatures and the introduction of advanced refrigerators provided with smart technologies is expected to drive the market in the future. The refrigerator has become an essential part of a household and is one of the first appliances that is purchased once the household income reaches an adequate level.
