Market Trends of GCC Modular Kitchen Industry
Saudi Arabia is Dominating the Modular Kitchen Market in GCC
Country-wise, the market has been segmented into the Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman. Among them, the Kingdom of Saudi Arabia is leading the modular kitchen market in the region. Rising population and construction are fuelling the demand for housing units in the market. As the kitchen is considered the heart of homes, people are keen on investing in them and building modular designs. Storage and convenience offered by the utilization of small spaces are expected to favor the demand for modular kitchen construction in the country.
More than 18 million worth of building contract projects were awarded in the Kingdom of Saudi Arabia, which in the future would need interior construction as people come and stay there. Expenditure on the construction of the kitchen comes as a necessity, which can lead to investments in the modular kitchen market in KSA.
Increase in Building Construction in GCC Fostering Modular Kitchen Demand
As households are getting smaller, they are opting for apartments, giving rise to building construction in the country. This is, in turn, inflating real estate prices and overcapacity is being witnessed in the GCC market. Despite that, there is an increase in demand for modular kitchens in residential properties to efficiently utilize the space in the households. Modular kitchens can be put together and removed easily because of their fabrication in factories. The kitchen designs save construction work at home.
Rapid economic development and a rise in the number of building constructions across the GCC, coupled with a growing population of ex-pats in the region, will result in the demand for modular kitchen designs in the GCC.
Vision 2030 of KSA and Sheikh Zayed Housing Programme (UAE) with plans to construct housing in the countries is going to positively affect the demand for the modular kitchens industry in the GCC.
