PUBLISHER: TechSci Research | PRODUCT CODE: 1163334
PUBLISHER: TechSci Research | PRODUCT CODE: 1163334
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Saudi Arabia's domestic washing machine market is expected to grow at a CAGR of 3.34% during the forecast period and reach USD 446.43 million by 2027. The Saudi Arabia Domestic Washing Machine market is expanding because of several factors, including an increase in the working population and nuclear families and the popularity of online sales channels. Additionally, throughout the forecast period, developing more advanced washing machines and incorporating cutting-edge technologies into washing machines are anticipated to drive market growth in Saudi Arabia.
To support market expansion, numerous product innovations are being developed concurrently. The LG ThinQ app serves as the smart home's brain and enables users to remotely control, manage, and optimize LG ThinQ-enabled appliances from any location. Homeowners can easily connect their appliances to the application with just a Wi-Fi connection, managing every device from a single dashboard. LG ThinQ, powered by machine learning and AI, analyses user behavior and preferences to provide a highly customized experience.
Over the next five years, it is anticipated that the sales of fully automatic washing machines in Saudi Arabia will be aided by rising consumer awareness of improved water and energy efficiency, increased user convenience, and easy availability in various capacities and price ranges.
As of March 2022, there were 5.46 million households in Saudi Arabia, and in the years to come, this number is anticipated to increase significantly Saudi Arabia is heavily reliant on the oil and gas industry. The government is taking measures to decrease dependence and develop new revenue streams to strengthen the nation's economic position. Urbanization and industrialization processes are accelerating due to the economy's rapid growth, which has a significant impact on consumers' urban lifestyles. There is less time left to take care of household duties as more people choose to do job and live independently. live alone or in nuclear families. The country is seeing an increase in washing machine sales because they can wash clothes quickly and effectively while using less water and electricity.
As technology advances in the smart home category, there is a greater desire for interconnected appliances, such as smart washing machines, as a source of luxury and convenience. Wireless technologies such as Wi-Fi and Bluetooth are rapidly being used in home appliances. Increased use of the automatic washing process as a necessary part of daily housekeeping. For instance, Samsung Electronics launched Bespoke AI washing machine, which promises to be the most sustainable, efficient, and intelligent washer on the market. The washing machine provides big capacity, space-saving design and strong and dependable performance that saves users energy, resources, and money. The new Bespoke AI Washer has AI Ecobubble, which converts detergent into bubbles that swiftly permeate into the clothes. Using Ecobubble technology, the washer saves up to 70% on energy while maintaining the same level of cleanliness in cold water.
The growing importance of home monitoring in remote locations, low carbon emission-oriented solutions, the growing need for energy-saving, the rapid proliferation of smartphones and smart gadgets, and the expansion of smart home product portfolio by a large number of players are driving the growth of the smart home connected domestic washing machine market.
The popularity of the e-commerce sector is growing across the nation due to the widespread use of smart devices and high internet penetration. A quality lifestyle can be afforded by consumers thanks to their high disposable income, which allows them to buy state-of-the-art electronic appliances that improve their comfort and convenience. Since physically visiting a store requires a lot of time and effort, consumers have begun to purchase goods through online sales platforms rather than doing so. To entice customers to buy their brand's washing machine market players offer several additional facilities, including flexible payment options, free doorstep delivery, simple exchange options, and free installation of the washing machine. Over the next five years, it is anticipated that demand for washing machines in Saudi Arabia will increase due to market players' shift to online sales platforms and shifting consumer preferences.
The Saudi Arabia Domestic Washing Machine market is segmented by type, machine capacity, technology, distribution channel, and region. The market is segmented into front load automatic, top load automatic, and semi-automatic based on type. The machine capacity is further segmented into 8 kg and above and below 8 kg. The technology segment is divided into non-smart and smart connected washing machines. The distribution channel is segmented into multi-branded stores, supermarkets/hypermarkets, online, and others (direct sales, wholesales, etc.).
LG Electronics Saudi Arabia LLC, United Matbouli Group (Samsung), Al Jabr Trading Co (Haier), Abdul Latif Jameel Electronics & Air (Toshiba), Alessa Industries Co (Candy), Ibrahim Shaker Co Ltd (Midea), Abdul Mohsin Al Swailem Est (Daewoo), Zagzoog Home Appliance (Whirlpool), Alesayi Electronics Co Ltd (Panasonic) and Al Babtain Trading Co Inc (Beko), etc. are some of the leading players in the Saudi Arabia Domestic Washing Machine market. New market players have also been actively entering the market in recent years, further strengthening future market growth.
In this report, Saudi Arabia Domestic Washing Machine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profile: Detailed analysis of the major companies present in Saudi Arabia Domestic Washing Machine market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: