GCC: Domestic Appliances Market 2024

Domestic Appliances Market Size in GCC

For the third year in a row, the GCC domestic appliances market recorded growth in sales value, which increased by 10% to $X in 2021. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the near future.

Domestic Appliances Production in GCC

In value terms, domestic appliances production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Domestic Appliances Exports

Exports in GCC

In 2021, overseas shipments of domestic appliances were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, domestic appliances exports rose slightly to $X in 2021. Over the period under review, exports, however, saw a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 14%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X units) was the key exporter of domestic appliances, making up 69% of total exports. Bahrain (X units) ranks second in terms of the total exports with a 10% share, followed by Oman (9.8%) and Saudi Arabia (9.5%).

Exports from the United Arab Emirates decreased at an average annual rate of -6.8% from 2012 to 2021. Oman experienced a relatively flat trend pattern. Saudi Arabia (-5.5%) and Bahrain (-13.7%) illustrated a downward trend over the same period. Oman (+4.8 p.p.) and the United Arab Emirates (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Bahrain saw its share reduced by -9.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest domestic appliances supplier in GCC, comprising 69% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Oman, with an 8.9% share.

In the United Arab Emirates, domestic appliances exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-4.4% per year) and Oman (+0.8% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, falling by -8.5% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, domestic appliances export price increased by +13.0% against 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of 27%. The level of export peaked at $X per unit in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.8%), while the other leaders experienced more modest paces of growth.

Domestic Appliances Imports

Imports in GCC

For the third year in a row, GCC recorded growth in overseas purchases of domestic appliances, which increased by 20% to X units in 2021. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, domestic appliances imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the key importing country with an import of about X units, which accounted for 52% of total imports. Saudi Arabia (X units) held the second position in the ranking, distantly followed by Kuwait (X units) and Oman (X units). All these countries together held near 42% share of total imports. Qatar (X units) and Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +5.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest domestic appliances importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), together comprising 89% of total imports.

The United Arab Emirates, with a CAGR of +5.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, rising by 3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.7% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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