Saudi Arabia Refrigerator Market By Product Type (Top Freezer Refrigerator, Bottom Freezer Refrigerator, Side-by-Side Refrigerator, French Door Refrigerator, Others (Counter-Depth Refrigerator, Mini Fridge, etc.)), By End User (Individual, Commercial), By Distribution Channel (Electronic and Specialty Retailers, Hypermarkets/ Supermarkets, Online Channels, Others (Institutional Stores, etc.)), By
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationWow, the refrigerator market in Saudi Arabia is expected to really take off between 2023 and 2027! We're talking some serious growth. Saudi Arabia already has one of the biggest home appliance markets in the Middle East, thanks to folks having better lifestyles and more money to spend. But it's not just that; think about that scorching Saudi heat! That, plus more and more homes and expats setting up shop, is really pushing the demand for refrigerators across the country. Cities like Jeddah, Madinah, Riyadh, and Makkah are particularly thirsty for them. And guess what? With cool new tech coming out and prices dropping, we're expecting the Saudi Arabia refrigerator market to absolutely skyrocket over the next five years! You can read more here.
Rise in Consumer Inclination Towards Smart Appliances Drives the Market Growth
Saudi Arabia's really pushing ahead with huge projects like Neom City and building tons of smart homes and cities. This means people are going to want appliances that actually work well and save energy! All this smart infrastructure being built is also driving up demand for cool new refrigerators. Think about itrefrigerators with the Internet of Things, AI, voice control, and even custom interfaces. Plus, imagine getting real-time updates on your phone about what's happening inside your fridge! All this tech is predicted to make the Saudi Arabia refrigerator market explode with opportunities over the next five years.
Flourishing Tourism Industry Boosts the Market Growth
Oil & Gas is what really makes the Kingdom of Saudi Arabia's economy tick. But, the government's got a plan with Saudi Vision 2030 to branch out and make money from other things too. They're talking about throwing around $810 billion on fun stuff like culture, leisure, and entertainment – which means a whole bunch of new buildings and amazing infrastructure! For the longest time, Saudi Arabia mostly saw religious pilgrims, people working there from other countries, and business travelers. Now, they're opening up to tourism big time! In 2019, they started handing out tourist visas, and if you've already got a visa for the UK, the Schengen Area, or the US, you're good to go. Plus, they're building crazy stuff like Amaala, which they're calling the "Middle East Riviera," with plans for 2,500 fancy hotel rooms! And then there's the Red Sea Project with 90 islands just for visitors. All this building and a booming hospitality scene means hotels need more refrigerators and mini-fridges to keep their guests happy. So, with tourism on the rise and all these new hotels, restaurants, and cafes popping up, expect to see a lot more demand for refrigerators in Saudi Arabia over the next five years.
Growing Popularity of Environment Friendly Refrigerators Fuels the Market Demand
The lower the high electricity consumption, the government of Saudi Arabia has made it necessary for the refrigerator companies to sell energy-efficient refrigerators with 3 & above star ratings. Manufacturers are working on improving the energy efficiency of refrigerators. They are launching the refrigerators with innovative technologies such as intelligent diagnosis technology, inverter technology, and total no frost technology, which is expected to capture significant market demand in coming years. The growing consumer awareness and the launch of eco-friendly refrigerators are expected to bolster the market demand through the next five years.
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Market Segmentation
So, the Saudi Arabia refrigerator market is a bit like breaking down the fridge situation in a bunch of different ways. We're looking at what kind of fridge people are buying – is it a top freezer, a bottom freezer, a side-by-side, a fancy French door, or something else? That "something else" includes those cool counter-depth refrigerators and the handy mini fridges. Then we think about who's buying themis it for individuals at home, or for commercial businesses? How are they buying them? Are they going to electronic and specialty retailers, big hypermarkets/supermarkets, shopping online, or through other places, like institutional retailers? Finally, we see where in Saudi Arabia these fridges are popping up – we're talking about the western, central, southern, eastern, and northern regions.
Market Players
Panasonic Marketing Middle East & Africa FZE, Robert Bosch Saudi Arabia Ltd, Samsung Electronics, Toshiba Lifestyle Products and Services Corporation, Dan National Electronic and Electrical Appliances Company Ltd., Haier and Aljabr Saudi Electronics Trading Company, Arcelik Hitachi Home Appliances Sales Middle East Fze, LG Electronics Gulf FZE, Kutayba Yusuf Alghanim & Partners Holding Co. L.L.C. (Wansa), Daewoo Electronics, are the major market players operating in the Saudi Arabia refrigerator market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Thousands Units, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Product Type · End User · Distribution Channel |
| Regional scope | Western, Central, Southern, Eastern and Northern |
| Key companies profiled | Panasonic Marketing Middle East & Africa FZE, Robert Bosch Saudi Arabia Ltd, Samsung Electronics, Toshiba Lifestyle Products and Services Corporation, Dan National Electronic and Electrical Appliances Company Ltd., Haier and Aljabr Saudi Electronics Trading Company, Arcelik Hitachi Home Appliances Sales Middle East Fze, LG Electronics Gulf FZE, Kutayba Yusuf Alghanim & Partners Holding Co. L.L.C. (Wansa), Daewoo Electronics |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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