Qatar's home appliances market surpasses USD1B, poised for significant growth
Date
12/29/2024 7:29:50 AM
(MENAFN) As the new year approaches, Qatar's home appliances industry has exceeded USD1 billion in market value for 2024 and is projected to nearly double, reaching approximately USD2 billion by 2031, according to a report by Verified Market Research.
Analysts attribute the sector’s robust growth to Qatar’s rising population, increasing urbanization, and higher income levels.
Ongoing developments in hotel expansions, commercial buildings, and residential projects have further driven demand for energy-efficient and technologically advanced household appliances.
Market experts highlight a growing shift toward energy-efficient and sustainable products, driven by heightened consumer awareness of environmental concerns. Appliances with smart features and reduced energy consumption are increasingly favored by Qatar’s ecologically conscious buyers.
The report emphasizes Qatar’s strong position in the GCC home appliance market, citing its diverse product offerings from domestic and international brands, competitive pricing, and attractive financing options as key factors fueling its success.
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