Fast Market Research recommends "Home Laundry Appliances in Saudi Arabia" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 06/02/2014 -- Home laundry appliances benefited from a marked rise in construction in the second half of the review period, which in turn increased the potential consumer base for these products. Sales also benefited from population growth, both due to a high birth rate and also due to rising immigration from Middle Eastern countries as a result of security concerns linked to ongoing unrest in many areas. Rising disposable income levels also encouraged stronger sales of home laundry appliances at the end of the review period. 2013 thus saw the strongest annual retail volume growth of the overall review period.
United Yousef M Naghi was the leader in home laundry appliances throughout the review period and accounted for a steady 23% retail volume share in the last two years of the review period. The company benefits from representing the LG brand in Saudi Arabia, with this brand having a longstanding presence in the country and enjoying strong customer trust. LG also benefited from ongoing strong new product development throughout the review period, offering features such as allergy care steam technology and notably launching its 6 Motions energy efficient technology in 2012.
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There is expected to be a marked shift in the Saudi population at the start of the forecast period, with 2014 seeing the government forcibly expelling around two million of its nine million expatriate workers in the year. This follows on from the government's Saudisation programme during the review period, with the government being keen to free up jobs and housing for Saudis. Yemeni, Indian, Ethiopian and Filipino workers were most impacted by this initiative. Within home laundry appliances, these expulsions are expected to particularly impact upon semi-automatic washing machines, with many low-income workers' households using these appliances. As a result, semi-automatic washing machines is expected to see a further 18% retail volume decline during the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Home Laundry Appliances industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.
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The Home Laundry Appliances in Saudi Arabia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
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