The Kuwait White Goods market is projected to grow at a CAGR of around 9.66% during the forecast period, 2023-28.
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Key Findings of the Study: Kuwait White Goods Market
Kuwait White Goods Market Possible Restraint: Decline in the Population of Migrants to Hinder the Market Growth
The decline in the migrant population of the country has marginally hindered the growth of the Kuwait White Goods market. According to the World Bank, Kuwait’s net migration rate fell by around 10% between 2017 & 2022, from 14.5% to 4.4%, indicating a lower proclivity for Kuwait. The high cost of living, fewer job opportunities, extreme weather conditions, and government policies are the primary reasons for minimal migrants arriving in the country.
Additionally, the extreme climatic conditions & humidity and the high cost of residential properties, coinciding with the job losses during the COVID-19 pandemic, also dwindled the migrant population. Hence, this led to a slightly lowered demand for new residential property, further creating a challenge for white goods.
Scope of the Report and Kuwait White Goods Market Segmentation
By Type
-Air Conditioners
-Refrigerator
-Microwave Oven
-Dishwasher
-Cooking Range
-Smartphones
-Vacuum Cleaner
-Air Purifier
-Washing Machine
-Television
-Water Heater
-Water Dispensers
-Desktops & Laptops
-Audio
-Gaming Monitors
-Projectors
-Digital Signage
- smartphones held the major share of the Kuwait White Goods market in the historical years, and the same trend is anticipated to continue in the coming years.
Top leading companies in the Kuwait White Goods Market includes:
Apple, Midea, Samsung, Sharp, Vestel, Panasonic, Huawei, Xiaomi, L.G, Orca, Skyworth, Hisense, JBL, and Bose, Wansa.
Kuwait White Goods Market Development
- 2022: Samsung Display began the mass production of gaming laptops with an OLED display that supports high refresh rates of 228Hz. These displays would increase the competition in the gaming laptops industry.
- 2022: Panasonic announced their air conditioners with Nanoe X™ Technology, which would provide cleaner air to customers. The technology inhibits the growth of pathogenic microorganisms, such as bacteria, fungi, viruses, and other allergens, thus providing a healthy indoor environment.
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Geographical analysis:
Al Asimah
Al Farwaniya
Hawalli
Al Ahmadi
Al Jahra
- Hawalli held the major market share owing to the presence of a significant number of residential houses & commercial spaces.
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