MENA White Goods Market Report and Forecast 2024-2032

MENA White Goods Market Outlook

The MENA white goods market size reached a value of approximately USD 30.58 billion in 2023. The market is assessed to grow at a CAGR of 5.6% between 2024 and 2032 to attain a value of around USD 49.99 billion by 2032.

Key Trends in the Market

White goods refer to large electronic appliances, including refrigerators, dishwashers, and air conditioners, among others, that are traditionally white in colour. They are extensively used in residential and commercial applications due to their durability and efficiency. Also, they are increasingly being made available in energy-efficient variants to offer cost-effective solutions to end users.

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• Customers in the region are increasingly spending on renovation and home improvement activities and preferring comfortable homes. The growing birth rates and the surging double-income households in the region are driving the sales of high-priced and premium consumer appliances.

• Rapid urbanisation and the increasing development of smart cities are supporting the MENA white goods market, boosting the utilisation of smart electronic appliances that can be connected to other devices and provide value-added features.

• The rising focus on energy efficiency in the region is anticipated to boost the demand for sustainable and greener white goods with a small environmental footprint.

• As customers prefer to research before buying white goods, retailers are targeting various buyer personas to provide the necessary information regarding the specifications of electronic appliances. This, coupled with the surging popularity of the e-commerce platforms, is favouring the MENA white goods market.

Market Analysis

Based on product, the market is segmented into window air conditioners, decorative-type split systems, central ACs, air handling units, variable refrigerant flow systems, fan coil units, roof tank water coolers, chest freezers, showcase refrigerators, air purifiers, and contactless handwash units.

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On the basis of end use, the market can be bifurcated into residential and commercial. The major markets of white goods in MENA are Saudi Arabia, the United Arab Emirates, Bahrain, Egypt, Iran, and Morocco, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the MENA white goods market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• LG Electronics

• Carrier Global Corporation

• Daikin Industries, Ltd

• Gree Electric Appliances, lnc.

• Midea Group

• Rheem Manufacturing Company

• Zamil Industrial

• S.K.M Air Conditioning LLC

• Awal Gulf Manufacturing Co.

• Trosten Industries Company LLC

• Others

Market Share by End Use

In the residential sector, white goods such as dishwashers, freezers, air conditioners, washing machines, and induction cookers, among others, are extensively used. With the increasing internet penetration and the surging trend of home automation, the adoption of smart white goods by homeowners, especially the millennial and Gen-Z population, is rising.

Meanwhile, there is a surging demand for energy-efficient white goods, especially central ACs and contactless handwash units, in commercial settings like offices, hotels, shopping complexes, and others. Moreover, the increasing electrification and infrastructural development in emerging MENA economies like Morocco and Egypt are likely to positively influence the overall MENA white goods market demand in the coming years.

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Market Share by Country

The United Arab Emirates accounts for a significant market share due to high consumer purchasing power, rapid urbanisation and industrialisation, an increasing expatriate population, and the robustly growing commercial sector. Affluent customers in the country prefer electronic appliances offering energy efficiency, enhanced connectivity, and built-in apps.

With the growing trend of health-oriented appliances, key players are increasingly investing in R&D activities to meet diverse customer demands. In addition to this, the sales of white goods from e-commerce channels are significantly rising on account of their enhanced convenience and attractive offers.

In the MENA white goods market, Saudi Arabia is expected to witness a healthy growth in the coming years amid the surging demand for reliable white goods, the increasing launches of large appliances with appealing features by leading companies, and technological advancements and innovations.

Competitive Landscape

LG Electronics, headquartered in Seoul, South Korea, is one of the largest consumer electronics and technology companies in the world. Some of its leading offerings are monitors, automotive components, air solutions, televisions, and home appliances, among others. The company aims to develop innovative products for increasing the quality of life of customers.

Daikin Industries, Ltd, is a prominent air conditioning and fluorochemicals manufacturer, whose products are marketed and sold in more than 170 countries. It was founded in 1924, and it is the only general air-conditioning manufacturer with in-house divisions covering refrigerants and air conditioners. The company constantly develops innovative air conditioning technologies to offer comfortable living environments to customers across the globe.

Gree Electric Appliances, lnc., founded in 1991, is a technology-based company that manufactures industrial equipment and household consumer products. It exports its products to over 160 regions and countries. Its products are used in different applications, including food, sanitary ware, home appliances, and building materials, among others.

Other major players in the MENA white goods market include Carrier Global Corporation, Midea Group, Rheem Manufacturing Company, S.K.M Air Conditioning LLC, Zamil Industrial, Awal Gulf Manufacturing Co., and Trosten Industries Company LLC, among others.

Key Highlights of the Report