Saudi Arabia refrigerator market is anticipated to register a robust CAGR in the forecast period, 2023-2027. Saudi Arabia boasts of one of the largest home appliances markets in the Middle East region, owing to the improved lifestyle and high purchasing capacity of consumers. The hot and arid climate of the Saudi Arabia and the growing number of households and expatriates in the country are the primary factors driving the Saudi Arabia refrigerator market across the country. Cities like Jeddah and Madinah, Riyadh, and Makkah fuel the demand for refrigerators. The ongoing technological advancements and the decline in the price of refrigerators are expected to surge the Saudi Arabia refrigerator market growth for the next five years. 

Rise in Consumer Inclination Towards Smart Appliances Drives the Market Growth

The government is promoting infrastructural development projects such as Neom City and the construction of smart homes and cities, which is expected to boost the demand for efficient home appliances among the people. The construction of smart infrastructure has increased the demand for innovative refrigeration products. Also, the integration of novel technologies such as the internet of things, artificial intelligence voice control, custom interface with the freezing products, and digital connectivity in the refrigerators to give the user real-time updates on smartphones are expected to create lucrative growth opportunities for the Saudi Arabia refrigerator market over the next five years.

Flourishing Tourism Industry Boosts the Market Growth

The oil & gas industry is the major revenue-generating industry in the Kingdom of Saudi Arabia. The ongoing initiatives are taken by the government, such as Saudi Vision 2030, to diversify the income sources and have planned to spend $810 billion of investments in culture, leisure, and entertainment projects, thereby fueling the construction of world-class infrastructure in the country. The majority of the tourists visiting Saudi Arabia were only religious pilgrims, expatriate workers, and business workers. To promote the tourist industry, the government has released the tourist visas in 2019 and has allowed tourists to have UK and Schengen Area and US visas. Also, the project called the Amaala, also known as "Middle East Riviera" is expected to generate 2,500 luxury hotels rooms and the red sea project, which will feature 90 islands for people to visit. The growing construction and development of the hospitality sector are expected to accelerate the demand for refrigerators and mini-fridges in hotel rooms to provide an enhanced experience during the hotel stay. The growing tourism industry and construction of hotels, restaurants, and cafes are expected to fuel the Saudi Arabia refrigerator market demand in 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

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, others. The others segment is further segmented into counter-depth refrigerator and mini fridge. Based on end user, the market is bifurcated into individual and commercial. Based on distribution channel, the market is divided into electronic and specialty retailers, hypermarkets/ supermarkets, online channels, and others which includes institutional stores. To analyze the market based on the region, the Saudi Arabia refrigerator market is studied in major regions namely western, central, southern, eastern, and northern.

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 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)

 

Report Scope:

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
    • Side-by-Side Refrigerator
    • French Door Refrigerator
    • Others
      • Counter-Depth Refrigerator
      • Mini Fridge
  • Saudi Arabia Refrigerator Market, By End User:
    • Individual
    • Commercial
  • Saudi Arabia Refrigerator Market, By Distribution Channel:
    • Electronic and Specialty Retailers
    • Hypermarkets/ Supermarkets
    • Online Channels
    • Others
      • Institutional Stores
  • Saudi Arabia Refrigerator Market, By Region:

o   Western

o   Central

o   Southern

o   Eastern

o   Northern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia refrigerator market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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1.     Product Overview: Refrigerator

2.    Research Methodology

3.    Executive Summary

4.    Impact of Covid-19 on Saudi Arabia Refrigerator Market

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Affecting Purchase Decision

5.3.  Sources of Information

5.4.  Challenges Faced Post Purchase

6.    Saudi Arabia Refrigerator Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1. By Product Type (Top Freezer Refrigerator, Bottom Freezer Refrigerator, Side-by-Side Refrigerator, French Door Refrigerator, Others (Counter-Depth Refrigerator, Mini Fridge, etc.))

6.2.2. By End User (Individual, Commercial)

6.2.3. By Distribution Channel (Electronic and Specialty Retailers, Hypermarkets/ Supermarkets, Online Channels, Others (Institutional Stores, etc.))

6.2.4. By Region (Western, Central, Southern, Eastern and Northern)

6.2.5. By Company (2021)

6.3.  Market Map (By Product Type, By End User, By Distribution Channel, By Region)

7.    Saudi Arabia Top Freezer Refrigerator Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By End User

7.2.2.    By Distribution channel

7.3.  Pricing Analysis

8.    Saudi Arabia Bottom Freezer Refrigerator Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By End User

8.2.2.    By Distribution channel

8.3.  Pricing Analysis

9.    Saudi Arabia Side-by-Side Refrigerator Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By End User

9.2.2.    By Distribution channel

9.3.  Pricing Analysis

10.  Saudi Arabia French Door Refrigerator Market Outlook

10.1.                Market Size & Forecast

10.1.1.  By Value & Volume

10.2.                Market Share & Forecast

10.2.1.  By End User

10.2.2.     By Distribution channel

10.3.                Pricing Analysis

11.  Import & Export Analysis

12.  Supply Chain Analysis

13.  Market Dynamics

13.1.  Drivers

13.2.  Challenges

14.  Market Trends & Developments

15.  Policy & Regulatory Landscape

16.  Saudi Arabia Economic Profile

17.  Competitive Landscape

17.1.    Company Profiles

17.1.1.  Panasonic Marketing Middle East & Africa FZE

17.1.2.  Robert Bosch Saudi Arabia Ltd

17.1.3.  Samsung Electronics

17.1.4.  Toshiba Lifestyle Products and Services Corporation,

17.1.5.  Dan National Electronic and Electrical Appliances Company Ltd.

17.1.6.  Haier and Aljabr Saudi Electronics Trading Company

17.1.7.  Arcelik Hitachi Home Appliances Sales Middle East Fze

17.1.8.  LG Electronics Gulf FZE

17.1.9.  Kutayba Yusuf Alghanim & Partners Holding Co. L.L.C. (Wansa)

17.1.10.  Daewoo Electronics

 18. Strategic Recommendations

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