Saudi Arabia Major Home Appliances Market Size (2024 - 2029)

The market size of Saudi Arabia's major home appliances sector has shown consistent growth, driven by factors such as increasing consumer purchasing power and rapid urbanization. This growth is particularly evident in the household refrigerator segment, where replacement sales are becoming more prevalent as consumers opt for smarter and more innovative models. The rise in disposable incomes has led to a preference for premium appliances, contributing to higher value sales. Although the COVID-19 pandemic impacted the frequency of new appliance purchases during home relocations, the market continues to expand, with significant imports from China supporting the sector.

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Market Size of Saudi Arabia Major Home Appliances Industry

Saudi Arabia Major Home Appliances Market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 2.30 %
Market Concentration High

Major Players

Saudi Arabia Major Home Appliances Market Major Players

*Disclaimer: Major Players sorted in no particular order

Saudi Arabia Major Home Appliances Market Analysis

Saudi Arabia's major home appliances market has experienced steady growth over the past years, and the trend is forecasted to continue in the following decade. Saudi Arabia forms one of the largest home appliances markets in the GCC, considering the increasing purchasing power of consumers. Rapid urbanization is the main driving factor for the growth of the household refrigerator market in the country. Replacement sales are gaining traction all over the world, with a vast majority of the population willing to replace the existing refrigerator with smarter, innovative, and new tech refrigerators. A rapid rise in disposable incomes has led to mid to high-income consumers favoring premium, sophisticated, and higher-priced models, hence pushing the value sales of household refrigerators in the country.

Many consumers purchase new major home appliances when they move home, but COVID-19 led to a significant reduction in this. Al Jabr Trading Co, which distributes the Chinese brand Haier in Saudi Arabia, remains the leader in refrigeration appliances in terms of retail volume share, just ahead of LG Electronics Saudi Arabia Ltd. Haier refrigeration appliances tend to be very competitively priced - a particularly important factor during 2020 when economic uncertainty made many consumers more price-sensitive than ever. Saudi Arabia imports the highest number of major home appliances like refrigerators from China.

Saudi Arabia Major Home Appliances Industry Segmentation

A home appliance, also referred to as a domestic appliance, an electric appliance, or a household appliance, is a machine that assists in household functions such as cooking, cleaning, and food preservation. A complete background analysis of the major home appliances market, which includes an assessment of the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview, is covered in the report. The Market is Segmented By Product (Refrigerators, Freezers, Dish Washing Machines, Ovens, Air Conditioners, and Other Major Appliances) and By Distribution Channel (Multi-Branded Stores, Specialty Stores, Online, and Other Distribution Channels). The report offers the market size and forecasts in value (USD Billion) for the above segments.

By Product
Refrigerators
Freezers
Dishwashing Machines
Washing Machines
Ovens
Air Conditioners
Other Major Appliances
By Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Online
Other Distribution Channels
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Saudi Arabia Major Home Appliances Market Size Summary

The major home appliances market in Saudi Arabia has shown consistent growth, positioning itself as one of the largest in the GCC region. This expansion is primarily driven by increasing consumer purchasing power and rapid urbanization, which significantly boosts the demand for household refrigerators. The market is witnessing a shift towards replacement sales, with consumers eager to upgrade to smarter and more innovative refrigerator models. The rise in disposable incomes has led to a preference for premium and sophisticated appliances, thereby enhancing the value sales in this segment. The market is characterized by a strong presence of international brands, with Al Jabr Trading Co leading in refrigeration appliances, followed closely by LG Electronics. The demand for double-door refrigerators is particularly high, and there is a growing interest in energy-efficient models due to rising electricity consumption.

The smart home segment is experiencing substantial growth, driven by improved network infrastructure and increased internet penetration. Consumers are increasingly adopting smart home and kitchen appliances, which offer advanced features and enhanced security. This trend is fostering competition among major global players such as Samsung, Whirlpool, LG, Haier, Bosch, and Midea, who are investing heavily in innovation and technological advancements. The market is fragmented, with companies striving to capture larger shares through strategic partnerships and product customization, as seen in Samsung's collaboration with Veda Holding and the launch of bespoke refrigeration appliances. The ongoing urbanization and the impact of COVID-19 have further accelerated the adoption of new household technologies, shaping the future landscape of the major home appliances market in Saudi Arabia.

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Saudi Arabia Major Home Appliances Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Insights on Various Regulatory Landscape

    5. 1.5 Insights on impact of technology and innovation in the Market

    6. 1.6 Value Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Threat of New Entrants

      2. 1.7.2 Bargaining Power of Buyers

      3. 1.7.3 Bargaining Power of Suppliers

      4. 1.7.4 Threat of Substitutes

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Refrigerators

      2. 2.1.2 Freezers

      3. 2.1.3 Dishwashing Machines

      4. 2.1.4 Washing Machines

      5. 2.1.5 Ovens

      6. 2.1.6 Air Conditioners

      7. 2.1.7 Other Major Appliances

    2. 2.2 By Distribution Channel

      1. 2.2.1 Supermarkets and Hypermarkets

      2. 2.2.2 Specialty Stores

      3. 2.2.3 Online

      4. 2.2.4 Other Distribution Channels

Saudi Arabia Major Home Appliances Market Size FAQs

The Saudi Arabia Major Home Appliances Market is projected to register a CAGR of greater than 2.30% during the forecast period (2024-2029)

Samsung, Whirlpool, LG, Haier and Bosch are the major companies operating in the Saudi Arabia Major Home Appliances Market.

Saudi Arabia Major Home Appliances Report Snapshots

Saudi Arabia Major Home Appliances Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)