Saudi Arabia White Goods Market Report and Forecast 2024-2032

Saudi Arabia White Goods Market Outlook

Saudi Arabia white goods market size reached nearly USD 5.65 billion in 2023. The market is projected to grow at a CAGR of 4.10% between 2024 and 2032, reaching a value of around USD 8.07 billion by 2032.

Key Trends in the Market

White goods refer to large household appliances that are commonly used for domestic purposes. They are called "white goods" due to their historical association with being finished in white enamel or light-coloured materials, although modern variations are available in different colours and finishes.

• The country’s economy has witnessed a significant growth due to various factors, including favourable government initiatives and economic diversification efforts. This has resulted in a rise in disposable incomes among Saudi Arabian households, which is expected to boost the Saudi Arabia white goods market demand.

• The Saudi Arabian government has implemented various initiatives to support the domestic white goods sector. These initiatives aim to promote local manufacturing, boost employment, and enhance the quality and affordability of white goods for consumers. Such initiatives are crucial Saudi Arabia white goods market trends, and they aid in creating a conducive environment for manufacturers and consumers alike.

• The rapid development of the e-commerce sector in the country acts as a major trend in the market. The growth of online retail and e-commerce platforms has positively impacted the Saudi Arabia white goods market growth. Consumers are increasingly turning to online channels for their purchasing needs due to their enhanced convenience, competitive pricing, and wide range of offerings.

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. On the basis of end use, the Saudi Arabia white goods market segmentations are residential and commercial.

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

• LG Electronics

• Carrier Global Corporation

• Daikin Industries, Ltd

• Midea Group

• Rheem Manufacturing Company

• Zamil Industrial

• S.K.M Air Conditioning LLC

• Awal Gulf Manufacturing Co.

• Al-Jazeera Home Appliances Company

• Others

Market Share by Product

As per the Saudi Arabia white goods market analysis, central ACs are expected to register high demand during the forecast period. Central ACs are popular white goods due to the extremely hot and dry climate in the country, making them highly sought after by both homeowners and businesses. Central AC systems provide convenience and comfort by maintaining a consistent and desired indoor temperature throughout the entire space. Moreover, they often provide higher energy efficiency as compared to individual cooling units.

Market Share by End Use

The commercial sector is likely to grow rapidly due to the rising expansion of food chains and stores in Saudi Arabia. The growth of fast-food chains and the increasing popularity of fast food have bolstered the usage of white goods, such as refrigerators, air purifiers, and air conditioners. Moreover, the increasing focus on keeping food fresh for a long span amid the rising popularity of delivery and online ordering propels the Saudi Arabia white goods market demand.

Competitive Landscape

LG Electronics, widely known as LG, is a prominent South Korean multinational corporation specialising in diverse sectors within the consumer electronics sector. The company was founded in 1947 and was formerly known as GoldStar. The company underwent a rebranding in 1995 and changed its name to LG Electronics. With its headquarters located in Seoul, South Korea, LG Electronics has established itself as a major player in the global market.

Carrier Global Corporation stands as a distinguished American multinational entity excelling in the production and distribution of cutting-edge heating, ventilation, and air conditioning (HVAC) systems. Additionally, the company has made significant strides in the fields of refrigeration and fire and security technologies.

Midea Group is a Chinese multinational conglomerate corporation that is globally recognised for its expertise in the production and distribution of electrical appliances. Established in 1968 and based in Guangdong Province, China, Midea Group has become a leading manufacturer in the consumer appliances, HVAC systems, and robotics sectors.

Other players in the Saudi Arabia white goods market include Daikin Industries, Rheem Manufacturing Company, Zamil Industrial, S.K.M Air Conditioning LLC, Awal Gulf Manufacturing Co., and Al-Jazeera Home Appliances Company, among others.

Key Highlights of the Report