Egypt’s Major Home Appliances Market Set for Significant Expansion – Mordor Intelligence Report Highlights Key Growth Factors


Posted October 1, 2024 by mordor

The Egypt Major Home Appliances Market is projected to be valued at USD 5.5 billion in 2024 and is anticipated to grow to USD 9 billion by 2029, with annual growth rate (CAGR) exceeding 8% during the forecast period (2024-2029).

 
Key Drivers of Market Growth

Urbanization and Infrastructure Development

Egypt’s rapid urbanization has led to increased demand for home appliances, particularly in newly developed residential areas and urban centers. As the country continues to develop its housing infrastructure, major home appliances are becoming a staple in households, with consumers prioritizing functionality and durability.

Rising Disposable Incomes and Consumer Spending

The steady growth in disposable incomes among Egypt’s middle class has created a surge in demand for modern appliances. Consumers are more inclined to invest in high-quality, durable products that offer long-term value and convenience, driving sales of appliances such as refrigerators, washing machines, and air conditioners. The report indicates that growing household spending on home improvement is also contributing to market expansion.

Growing Demand for Energy-Efficient and Smart Appliances

With increased awareness of energy consumption and the associated costs, consumers in Egypt are actively seeking energy-efficient appliances. Smart appliances with advanced features such as remote control, automation, and energy monitoring are gaining popularity, especially among tech-savvy consumers. The Egyptian government’s efforts to promote energy conservation are further boosting the demand for energy-efficient major home appliances.

Expanding Retail Channels and E-commerce Growth

The rise of modern retail formats and the expansion of e-commerce platforms have made major home appliances more accessible to consumers across Egypt. Online retail channels are becoming increasingly popular for purchasing home appliances due to convenience, competitive pricing, and a wider variety of product choices. This shift in consumer behavior is expected to further drive market growth.

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence https://www.mordorintelligence.com/industry-reports/egypt-major-home-appliances-market

About Mordor Intelligence:

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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Last Updated October 1, 2024