Saudi Arabia Gas Hobs Market Size (2024 - 2029)

The Saudi Arabia gas hobs market is expected to experience growth despite previous setbacks due to the COVID-19 pandemic, which had constrained construction and limited new purchases. The market size is influenced by factors such as increasing per capita income, enhanced spending capacity, and product innovation. Manufacturers are focusing on technological advancements to drive market expansion, although the high cost of products may hinder growth due to the economic constraints faced by a significant portion of the consumer base. To address this, manufacturers are investing in research and development to offer more affordable options, thereby potentially expanding the market's reach.

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Market Size of Saudi Arabia Gas Hobs Industry

Saudi Arabia Gas Hobs Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 2.00 %
Market Concentration Medium

Major Players

Saudi Arabia Gas Hobs Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Gas Hobs Market Analysis

The COVID-19 pandemic has restricted the construction of housing and building projects and the lockdown restrictions have limited the new purchases owing to the uncertainty in the economy and purchasing power parity but is anticipated to bounce back during the forecast period with the changing situations and customers approach towards the pandemic.

Primary factors driving the industry include increasing per capita income, rising spending capacity, westernization, and product innovation by the market players. Manufacturers are innovating different products in order to keep up with the pace of technological advancement, thus driving the market to the positive side.

However, high price of the product can act as a restraining factor in the market as major population of the consumer group is economical, thus the market can be pulled by other economical cooktops in the coming years. Although, manufacturers are investing heavily in research and development to expand their product line and introduce the product in low budget.

Saudi Arabia Gas Hobs Industry Segmentation

Unlike ordinary gas stoves, a kitchen hob comes with powerful burners and strong support grills. They are built to be perfectly integrated onto the kitchen top. A complete background analysis of the Saudi Arabia gas hobs market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics and market overview is covered in the report. The Saudi Arabia Gas Hobs Market is segmented By Type (Desktop Gas Hobs ,Embedded Gas Hobs), By End User (Residential, Commercial), By Distribution Channel (Multi-Brand Stores, Specialty Stores, Online Stores, and Other Distribution Channels).

By Type
Desktop Gas Hobs
Embedded Gas Hobs
By End User
Residential
Commercial
By Distribution Channel
Multi-Brand Stores
Specialty Stores
Online Stores
Other Distribution Channels
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Saudi Arabia Gas Hobs Market Size Summary

The Saudi Arabia gas hobs market is poised for growth, driven by factors such as increasing per capita income, rising spending capacity, and the influence of westernization. The market is experiencing a surge in product innovation as manufacturers strive to keep pace with technological advancements. This innovation is crucial as it helps to mitigate the impact of high product prices, which could otherwise deter price-sensitive consumers. The market is also benefiting from growing urbanization and the increased safety features of hobs, which are encouraging their adoption. The trend towards miniaturization, driven by the rise in nuclear families, has led to the development of more compact and efficient products. Additionally, the integration of smart home technology, allowing hobs to connect via Wi-Fi and Bluetooth, is further propelling market growth.

The construction industry in Saudi Arabia is a significant contributor to the gas hobs market, supported by initiatives like Vision 2030 and NTP 2020, which aim to diversify the economy away from oil. These initiatives are expected to drive substantial growth in the construction sector, creating lucrative opportunities for the gas hobs market. The market is moderately consolidated, with major international players like Whirlpool, Electrolux, Candy, and Simfer dominating. However, technological advancements and product innovation are enabling mid-size and smaller companies to expand their market presence. Recent product launches, such as Electrolux's range of gas hobs and LG Electronics' culinary equipment, highlight the ongoing innovation in the market, catering to the evolving needs of consumers.

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Saudi Arabia Gas Hobs Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights into Technological Advancements in the Industry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Desktop Gas Hobs

      2. 2.1.2 Embedded Gas Hobs

    2. 2.2 By End User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

    3. 2.3 By Distribution Channel

      1. 2.3.1 Multi-Brand Stores

      2. 2.3.2 Specialty Stores

      3. 2.3.3 Online Stores

      4. 2.3.4 Other Distribution Channels

Saudi Arabia Gas Hobs Market Size FAQs

The Saudi Arabia Gas Hobs Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)

Electrolux, Elba, Ariston, Gorenje, Simfer and Whirlpool are the major companies operating in the Saudi Arabia Gas Hobs Market.

Saudi Arabia Gas Hobs Report Snapshots

Saudi Arabia Gas Hobs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)