Middle East Handheld Vacuum Cleaner - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
The Middle East Handheld Vaccum Cleaners market is expected to register at a CAGR of greater than 6% during the forecast period. Middle Eastern countries of Kuwait, Oman, Saudi Arabia, and Bahrain have observed a significant rise in Quality of Living over the period, leading to a rise in people's expenditure on appliances and creating a market for handheld vacuum cleaners in the region. Last year Saudi Arabia, Israel, and UAE were among the countries leading in GDP existing at greater than USD 500 Billion.
With the advent of Covid-19 Vaccum cleaner sales in the Middle East observed a periodic increase raising revenue of the vacuum cleaner segment in Saudi Arabia to a level of USD 270 Million. As covid brings restrictions on the movement of people offline sales of vacuum cleaners declined with a rise in sales through the online channel. Saudi Arabia currently exists with 14% of its vacuum cleaner revenue generation through online sales in addition to this the post-COVID price of vacuum cleaners observed an increase as there occurs a rise in the price of raw materials with supply chain disruption.
As storage space is an existing problem of households and with a rising demand for vacuum cleaners with can reach difficult corners by saving time for people, handheld vacuum cleaners exist as the best option. In addition to this, the continuously rising household appliance market size in the Middle East is providing a positive ground for the sales of handheld vacuum cleaners in the region.
Middle East Handheld Vacuum Cleaner Market Trends
Household And Commercial Sector Driving The Demand
Festival seasons play a major in the sales of electronic appliances globally. In the Middle East during Ramadan consumer electronics observed a significant rise in sales with around 40% of the people shopping them through online modes. The value of commercial real Estate in the Middle East is observing a continuous increase existing at EUR 266 Billion last year, this is leading to an increase in the number of commercial spaces being developed and creating a sales opportunity for the handheld vacuum cleaner businesses.
Saudi Arabia, UAE, and Kuwait exist among the region in the Middle East with the largest demand for housing units and is leading to the highest sales of vacuum cleaners observed in these regions. Last year, of the total real estate value of USD 0.66 Trillion in UAE, residential and commercial sectors were having shares of USD 0.38 Trillion and USD 0.28 Trillion leading to significant importance being played by household and commercial space for the demand for handheld vacuums.
Rising Working Population And Level Of Income
Saudi Arabia, Kuwait, and Qatar are among the region in the middle east having the largest share of the employed population with a rising GDP per capita in the region. Qatar, Israel, UAE, and Kuwait are among the countries in the Middle East with the largest GDP per capita last year. This rising statistics in the workforce with an increase in per capita income among the people is leading people to spend more on household appliances and creates a positive externality for the handheld vacuum cleaner demand.
With the advent of Covid-19, the unemployment rate in the Middle East region observed a significant increase, reducing the spending power of people. As the economy is recovering from covid impact with rising employment and purchasing power, sales of handheld vacuum cleaner is expected to increase.
Middle East Handheld Vacuum Cleaner Industry Overview
As the Global Manufacturers of Handheld vacuum cleaners are looking for new markets, Middle East Region is providing the opportunity for global players manufacturing vacuum cleaners to increase their market share. With more innovative products being developed for different segments varying from household to industries, space for the entry of new firms into the market still exist. Some of the existing Middle East Handheld Vaccum Cleaner manufacturers are Panasonic, Xiaomi, Better Life, Dyson, and Geepas.
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- 1 INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increase in Level of Income and Living Standard
- 4.2.2 Rise in Demand for Vaccum cleaners in Household and Commercial space
- 4.3 Market Restraints
- 4.3.1 Rise in price of Consumer Electronics globally Post Covid
- 4.3.2 Supply Chain disruptions and Increasing Raw material prices affect the production side.
- 4.4 Market Opportunities
- 4.4.1 Technological Innovations Driving new features in Vaccum Cleaners
- 4.4.2 Rise in working population post covid increasing demand for household appliances.
- 4.5 Industry Attractiveness - Porters' Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Impact of COVID-19 on the Market
- 5 MARKET SEGMENTATION
- 5.1 By Product type
- 5.1.1 Upright
- 5.1.2 Handheld
- 5.1.3 Canister
- 5.1.4 Drum
- 5.1.5 Others
- 5.2 By Application
- 5.2.1 Residential
- 5.2.2 Commercial
- 5.3 By Distribution Channel
- 5.3.1 Online
- 5.3.2 Offline
- 5.4 By Geography
- 5.4.1 Saudi Arabia
- 5.4.2 United Arab Emirates
- 5.4.3 Rest of Middle East
- 6 COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
- 6.2 Company Profiles
- 6.2.1 Panasonic
- 6.2.2 Xiaomi
- 6.2.3 Betterlife
- 6.2.4 Dyson
- 6.2.5 Geepas
- 6.2.6 Black & Decker
- 6.2.7 Philips
- 6.2.8 Karcher
- 6.2.9 Deerma
- 6.2.10 Hitachi
- 6.2.11 LG*
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 8 DISCLAIMER
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