Saudi Arabia Refrigerator Market, By Type (Top Freezer, Single Door, Side-by-Side, Bottom Freezer, and French Door), By Technology (Non-Smart vs Smart), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online, Others (Direct Sales

Saudi Arabia Refrigerator Market, By Type (Top Freezer, Single Door, Side-by-Side, Bottom Freezer, and French Door), By Technology (Non-Smart vs Smart), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online, Others (Direct Sales, Wholesales, etc.)), By End User (Residential Vs. Commercial), By Region, Competition, Forecast & Opportunities, 2017-2027

Saudi Arabia refrigerator market is expected to grow at a CAGR of 4.63% during the forecast period and reach USD 386.47 million by 2027 owing to inclination toward advanced models of refrigerators with automation. Furthermore, rising urbanization, product innovation, and income are expected to boost the Saudi Arabia refrigerator market during the forecast period.

A refrigerator is a machine utilized for keeping things cold. It comprises a thermally protected compartment and a heat pump that transfers heat from inside to outside to cool it below room temperature. It is utilized to cool food and different items. Refrigerators are commonly used in homes and businesses to provide a handy and safe way to preserve food. To attract end-users, industry manufacturers are working on introducing a higher level of luxury and new refrigeration products.

Continued technological developments in electronics and declining refrigerator prices are expected to support the rise of the refrigerator market in Saudi Arabia. High consumer disposable income and a growing preference among consumers for smart appliances as living standards rose and customers placed more value on luxury and convenience, the development of more expensive, sophisticated models of refrigerators gave the category new life. Consumer dependence on smart devices and appliances has grown because of the COVID-19 pandemic and is expected to continue growing in the years to come since they provide ease, less effort, and time savings. The demand for smart home appliances in Saudi Arabia is significantly increasing because of the numerous industry participants offering these products with trendy and attractive designs.

Inclination Towards Advanced Models of Refrigerators is Driving the Market Growth

The market for refrigerators in Saudi Arabia has grown due to increasing technological advancement in refrigerators. Modern features in more recent refrigerator models include automatic temperature controls, chillers, different door styles, and lighting sensors, among others. A boost in purchasing power, technical advancements, and smart refrigerators that can be operated via cellphones and Wi-Fi contribute to the market's trend towards advanced models. As a result, there is now more demand for refrigerators, and technological advancements in refrigerator models are projected to fuel the expansion of the Saudi Arabia refrigerator market.

Flourishing Tourism Industry Encourages the Market Growth

The oil and gas sector is the primary source of income for the Kingdom of Saudi Arabia. The government is currently undertaking initiatives, such as Saudi Vision 2030, to diversify the country's revenue streams and has budgeted USD 810 billion for cultural, recreation, and entertainment projects. Most visitors to Saudi Arabia include only business travelers, expatriate workers, and religious pilgrims. Two thousand five hundred luxury hotel rooms are anticipated to be created by the Amala project and the Red Sea project, which would include 90 islands for tourists to visit. The demand for refrigerators and mini fridges in hotel rooms to provide a better experience during the hotel stay is anticipated to increase because of the hospitality industry's expanding construction and growth. In the coming years, the demand for refrigerators in Saudi Arabia is anticipated to increase due to the country's expanding tourism sector and the development of new hotels, restaurants, and cafés.

Growing Demand for Environment Friendly Refrigerators Fuels the Market Growth

The Saudi Arabian government has mandated that refrigerator manufacturers provide energy-efficient refrigerators with star ratings of three or higher to reduce the country's high electricity use. Manufacturers are attempting to make refrigerators more energy efficient. The refrigerators are being introduced with cutting-edge technologies such as total no frost, inverter, and intelligent diagnosis, which are anticipated to capture a sizable portion of the market demand in the upcoming years. Over the following years, it is anticipated that rising consumer awareness and the introduction of eco-friendly refrigerators will increase market demand.

Market Segmentation

The Saudi Arabia refrigerator market is segmented based on type, technology, distribution channel, end user, region, and competitional landscape. Based on type, the market is further segmented into top freezer, single door, side-by-side, bottom freezer, and french door. The technology segment is further divided into non-smart and smart. The distribution channel is segmented into multi-branded stores, supermarkets/ hypermarkets, online and others. It also studies the end user segment which is further segmented into residential and commercial.

Company Profiles

Al Jabr Trading Co (Haier), LG Electronics Saudi Arabia Ltd, United Matbouli Group (Samsung), Abdul Latif Jameel Electronics & Air Conditioning Co Limited (Toshiba), Abdul Mohsin Al Swailem Est (Daewo), Ibrahim Shaker Co Ltd (Midea), Hamad Abdulla Alessa & Sons Co (Hitachi), Zagzoog Home Appliance (Hitachi), Awad Badi Nahas Trading Co Ltd (Liebherr), Robert Bosch Saudi Arabia Ltd, etc. are some of the leading players in Saudi Arabia Refrigerator Market.

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 Type:
• Top freezer
• Single door
• Side-by-Side
• Bottom freezer
• French door
• Saudi Arabia Refrigerator Market, By Technology:
• Non-Smart
• Smart
• Saudi Arabia Refrigerator Market, By Distribution Channel:
• Multi-Branded Stores
• Supermarkets/Hypermarkets
• Online
• Others
• Saudi Arabia Refrigerator Market, By End User:
• Residential
• Commercial
• Saudi Arabia Refrigerator Market, By Region:
• Western
• Central & Northern
• Eastern
• Southern

Competitive Landscape

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

Company Information

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

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