Market Trends of GCC Faucet Industry
This section covers the major market trends shaping the GCC Faucet Market according to our research experts:
Increase in Building Construction in GCC Fostering Faucets Demand
Apartment living is becoming more popular as families get smaller, fueling the nation's construction industry. As a result, real estate prices are rising and the GCC market is experiencing overcapacity. Despite this, there is a rise in the demand for Faucets in residential buildings. The kitchen designs save construction work at home because modular kitchens are made in factories and are simple to assemble and disassemble this is also one reason for purchasing stylish and advanced faucets. The need for faucets designs in the GCC will be driven by the region's rapid economic expansion, an increase in new building construction, and an influx of expats.
Saudi Arabia is Dominating the Faucet Market in GCC
The market has been divided into sections according to country, including the Kingdom of Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman. Saudi Arabia is one of them, and it dominates the regional faucet market. The market's demand for housing units is being driven by both rising population and new building. In the GCC, advanced and fashionable faucets are popular, like as thermostatic faucets. The source claims that 18.6 million worth of construction contracts were issued in the Kingdom of Saudi Arabia, which will require interior construction as more visitors and residents move in. Investments in the Saudi Arabian furnace industry may result from spending on the construction of kitchens and bathrooms.
