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Saudi Arabia Refrigerator Market, By Product Type, By Distribution Channel, By Region and Forecast 2027
28-Jul-2022 | Navi Mumbai | News-Press Release
Market Reports on Saudi Arabia Provides the Trending Market Research Report on "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 Region, Competition Forecast & Opportunities, 2027" under Consumer Goods Market Research Reports category. The Refrigerator Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Refrigerator Market is anticipated to register a robust CAGR in the forecast period, 2023-2027. The hot and arid climate of Saudi Arabia and rapid infrastructural developments in the region are contributing to the growth of Saudi Arabia refrigerator market. Besides, high purchasing capacity of consumers and a growing number of expatriates in the country are supporting the higher adoption of refrigerators in the country. For the next five years, the expansion of the refrigerator market in Saudi Arabia is anticipated to be boosted by continued technical advancements in electronics and falling refrigerator prices.
The government is encouraging the creation of smart houses and cities, such as Neom City, which is likely to increase public demand for energy-efficient home appliances. The need for cutting-edge refrigeration equipment has expanded as a result of the development of smart infrastructure. Over the next five years, it is anticipated that the Saudi Arabia refrigerator market will experience profitable growth due to the incorporation of cutting-edge technologies like the internet of things, artificial intelligence voice control, custom interfaces with freezing products, and digital connectivity in the refrigerators.
Saudi government is currently undertaking initiatives, such as Saudi Vision 2030, to diversify the country's revenue streams and has budgeted USD810 billion for cultural, recreation, and entertainment projects. This is helping to fund the development of top-notch infrastructure across the nation. Most visitors to Saudi Arabia were only business travellers, expatriate workers, and religious pilgrims. The government has made it possible for travellers to get US, UK, and Schengen Area visas in 2019 in order to support the tourism sector. 2,500 luxury hotel rooms are anticipated to be created by the Amala project, commonly known as the "Middle East Riviera," and the Red Sea project, which would include 90 islands for tourists to visit. The demand for refrigerators and mini-fridges in hotel rooms to provide a better experience during the hotel stay is anticipated to increase as a result of the hospitality industry's expanding construction and growth.
The Saudi Arabia refrigerator market is segmented into product type, end user, distribution channel, regional distribution, and company. Based on product type, the market is divided into top freezer refrigerator, bottom freezer refrigerator, side-by-side refrigerator, french door refrigerator, and others. The top freezer segment is expected to account for the largest share in the Saudi Arabia refrigerator market owing to its feature of having a combined freezer and shelf size in a single unit, which eliminates the need to purchase separate space for food storage.
Key players operating in the Saudi Arabia refrigerator market are 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, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia refrigerator market from 2017 to 2021.
•To estimate and forecast the market size of Saudi Arabia refrigerator market from 2023 to 2027 and growth rate until 2027.
•To classify and forecast the Saudi Arabia refrigerator market based on product type, end user, distribution channel, region, and company.
•To identify the dominant region or segment in the Saudi Arabia refrigerator market.
•To identify drivers and challenges for the Saudi Arabia refrigerator market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia refrigerator market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia refrigerator market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia refrigerator market.
Key Target Audience:
•Market research and consulting firms
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia refrigerator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Refrigerator Market, By Product Type:
Top Freezer Refrigerator
Bottom Freezer Refrigerator
French Door Refrigerator
•Saudi Arabia Refrigerator Market, By End User:
•Saudi Arabia Refrigerator Market, By Distribution Channel:
Electronic and Specialty Retailers
•Saudi Arabia Refrigerator Market, By Region:
Browse our full report with Table of Contents:
Market Reports on Saudi Arabia provides you with an in-depth industry reports focusing on various economic, political and operational risk environment, complemented by detailed sector analysis. We have an exhaustive coverage on variety of industries - ranging from energy and chemicals to transportation, communications, constructions and mining to Food and Beverage and education. Our collection includes over 3000 up-to-date reports all researched, analysed and published by top-notch international research firms.
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