Egypt Small Home Appliances Market Analysis
The Egypt Small Home Appliances Market is expected to register a CAGR of greater than 4.2% during the forecast period.
With the advent of Covid-19 attraction of consumers towards purchasing air purifiers increased, with people opting for replacing their old appliances with smart and advanced appliances. Even during the covid period consumer spending was observing growth which resulted in home appliance manufacturers for maintaining their market share. With the advent of covid Online sales of Household appliance observed jump of 2% rising to 6.3% in its sale.
With the expansion of the e-commerce industry, the small home appliances market had witnessed more demand as online platforms are offering with free home delivery , discounts, product varieties, and easy exchange, which plays a major part in making online purchases highly attractive. Revenue contribution of Small household appliance in the Home Appliance segment of Egypt is observing a continuous increase with revenue of USD 2.73 Billion last year, driving businesses for investing in the market.
Egypt Small Home Appliances Market Trends
PRODUCT INNOVATION DRIVING THE MARKET
The AI technology and connectivity performance go hand-in-hand when it comes to small domestic appliances . Companies in the small domestic appliances market are innovating in air fryers eliminating problems of unwanted aroma in fried foods with the introduction of artificial intelligence (AI) . Next-gen autonomous vacuum cleaners are being developed with advanced laser technology, which is setting the standard for navigational floor cleaning.
Global Innovation Index ranking of Egypt improved last year and jumped to 89 rank from the ranking of 96 during the period of covid. This signifies a development of innovation in Egypt market and it will be having a positive impact on small home appliance industry.
RISING PER CAPITA INCOME INCREASING THE DEMAND
GDP Per capita in Egypt is observing a continuous increase existing at a level of USD 4,560 last year. This rise in GDP per capita had increased purchasing power of the people and resulting in more consumer expenditure for household appliances.
Average revenue per household from small home appliance in Egypt increased to the level of USD 101 last year signalling a continuous increase in household expenditure. Refrigerator, Washing Machine and Vaccum cleaner were among the household appliance in Egypt having largest ownership over the years.
Egypt Small Home Appliances Industry Overview
Egypt Small Home Appliances Market is moderatly consolidated in nature, dominated by a small number of players. With technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. Few of the existing player in Egypt Small Appliance market are Electrolux Group, Fresh Electric, Elaraby Group, Samsung Electronics, Lord International.
Egypt Small Home Appliances Market Leaders
Electrolux Group
Fresh Electric
Elaraby Group
Samsung Electronics
Lord International
- *Disclaimer: Major Players sorted in no particular order
Egypt Small Home Appliances Market News
- On August 2022, Egypt's Investment Authority and the China's Haier, home appliances company, signed a memorandum of understanding (MoU) for establishing an industrial complex to manufacture of household appliance. This deal will be increasing Egypt's reliance on local component for home appliances by 60%.
- On December 2022, Beko Egypt for home appliances, a subsidiary of Arçelik, laid the foundation stone for its first factory in Egypt. The operation of plant is scheduled by Q4 2023, and is projected to manufacture an annual capacity of 1.5 million household appliances.
