Qatar Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Qatar Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Being one of the richest countries in the world whose economy is driven by the oil and natural gas industry, Qatar’s market for small home appliances has been performing well, and it is expected to register significant growth during the forecast period.

COVID-19 has disrupted the global supply chain of the major home appliances and consumer electronic brands. The major countries, including Qatar, have been suffering economic disruptions, which ultimately affected the home appliances market in the region during 2020.

The country holds the lowest unemployment rate and highest GDP per capita income, which is leading to a rise in disposable income. Therefore, this is driving the citizens to spend more on the home appliances industry. The day-to-day improving technology, the innovation that is being introduced in the appliances across all segments of the industry, and an increasing level of internet penetration, which is strengthening e-commerce and mobile shopping in the region, are a few of the major factors that are driving the home appliances market in Qatar.

Qatar’s booming construction industry is also encouraging the sales of home appliances, as customers are highly interested to procure their new home with the latest appliances and furniture that fits their home size and give their home an attractive look. Moreover, this trend is guiding the appliance manufacturers to produce their products, which is likely to meet consumers’ preferences for compact home appliances that easily fit into smaller spaces without reducing their functionality. The Qatar government’s initiative to replace the old, high-power consuming appliances is also a driving factor that has the high potential to increase the sales for less power and water utilizing appliances, with minimized harmful emissions.

Qatar holds a high internet penetration rate that exposes customers to various online platforms to make their purchases. Launched in 2014, the Qatar government’s Connect 2020 ICT Policy boosted internet usage in the country and increased customer’s interest to try online platforms for their different shopping needs. This is enabling a higher growth rate in e-commerce sales, and this trend is expected to continue in the future, owing to the convenience it holds. Through gaining the trust of the customers and strengthening the payment security, e-commerce users can increase their number of purchases, as most of the internet users have concerns about payment security.

IoT integration and internet penetration have led to the growth of the Smart Home industry around the world. Smart homes facilitate monitoring and controlling mechanical operations inside residential areas, commercial setups, and other premises. The smart home operates on a centralized network that supports various software that controls and monitors the energy demand, security control, heating, and cooling system. The smart home appliances would allow autonomy, control, monitoring and other advantages.Qatar is one of the big markets for this technology among GCC countries. Revenue in the Smart Home market is projected to reach USD 344.02 Million in 2022.

The report covers major international players operating in the Qatar home appliances market. The market holds less scope for newcomers, as the consumers' focus and their dynamic preferences are shifting towards the economic yet standard brands. Additionally, consumers are looking for multi-functional products than the usual ones. Major players in Qatar Home Appliances include Haier Elecetronics Group, Whirlpool, Samsung, Panasonic, and LG.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support