Market Trends of Middle East Handheld Vacuum Cleaner Industry
Household And Commercial Sector Driving The Demand
Festival seasons play a major in the sales of electronic appliances globally. In the Middle East during Ramadan consumer electronics observed a significant rise in sales with around 40% of the people shopping them through online modes. The value of commercial real Estate in the Middle East is observing a continuous increase existing at EUR 266 Billion last year, this is leading to an increase in the number of commercial spaces being developed and creating a sales opportunity for the handheld vacuum cleaner businesses.
Saudi Arabia, UAE, and Kuwait exist among the region in the Middle East with the largest demand for housing units and is leading to the highest sales of vacuum cleaners observed in these regions. Last year, of the total real estate value of USD 0.66 Trillion in UAE, residential and commercial sectors were having shares of USD 0.38 Trillion and USD 0.28 Trillion leading to significant importance being played by household and commercial space for the demand for handheld vacuums.
Rising Working Population And Level Of Income
Saudi Arabia, Kuwait, and Qatar are among the region in the middle east having the largest share of the employed population with a rising GDP per capita in the region. Qatar, Israel, UAE, and Kuwait are among the countries in the Middle East with the largest GDP per capita last year. This rising statistics in the workforce with an increase in per capita income among the people is leading people to spend more on household appliances and creates a positive externality for the handheld vacuum cleaner demand.
With the advent of Covid-19, the unemployment rate in the Middle East region observed a significant increase, reducing the spending power of people. As the economy is recovering from covid impact with rising employment and purchasing power, sales of handheld vacuum cleaner is expected to increase.
