Concealed Cistern Market in GCC

GCC Concealed Cistern Market Analysis

The Concealed Cistern Market in GCC Industry is expected to register a CAGR of 3.5% during the forecast period.

The COVID-19 pandemic and the decline in global oil demand and prices dealt the GCC countries a health crisis and a commodity market shock causing a GDP contraction of 4.8% in 2020. The three countries with the largest deficits in 2020 were Kuwait, Bahrain, and Oman. Oil supply cutbacks and the four-year-low average oil price of USD 41.30 per barrel slashed the region's goods and services exports by 8.1% in real terms and turned the current account surplus of 6.8% of GDP in 2019 into a deficit of 2.9% of GDP in 2020 having a ripple effect on all the markets connected.

In 2022, on an average GCC countries have a GDP of 4% and with the real estate sector contributing almost 15% to GDP, more is expected by people to spend on modernizing toilets and bathrooms. In 2021-2022, Saudi Arabia observed around an 8% annual growth rate of residential and non-residential buildings signifying the market for a concealed cisterns in newly constructed buildings and houses.

GCC Concealed Cistern Market Trends

Growth in Real Estate and Construction Fueling Market for Concealed Cistern

In 2020, residential sales prices in the Gulf Cooperation Council observed a negative change resulting in a decline in the prices of household and commercial buildings. However, by 2022, demand for housing in the Gulf Cooperation Council is estimated to be 3.96, 0.98, 0.47, 0.4, 0.2, and 0.15 million for countries Saudi Arabia, UAE, Kuwait, Oman, Bahrain, and Qatar, respectively. This signifies a large requirement for investment as well as the construction of bathrooms and kitchens. An above-average increase in the real estate industry is observed for GCC countries during 2021-2022.

Construction Industry Driving Growth for Concealed Cistern Market

With COVID-19, tourism had collapsed, and demand for office space has also plummeted, while many retail sites lie empty due to shop closures and a huge reduction in the number of visitors. Gulf Construction Expo (formerly called golf bid expo) going to be held in 2023 will be 'Building for the Future' through the showcase for the Construction and Building Materials sector. This provides the construction sector as well as concealed cistern market an opportunity in the GCC with a professional platform for networking, investment, and the exchange of ideas and information.

Concealed cisterns with their advanced technology and luxury are providing comfort with minimum space, it is been adopted by a majority of sectors. The construction of commercial and residential buildings is a factor affecting the demand for concealed cisterns for bathrooms in commercial as well as residential spaces. Saudi Arabia and UAE are leading economies of the Gulf and with an impact on the construction industry in these countries, concealed cistern demand is affected proportionally.

GCC Concealed Cistern Industry Overview

The report covers major players operating in the concealed cistern market along with their product portfolio, key financials, and developments. The market is transforming with many technological advancements, innovation in the real estate market, product innovation and process automation. The key market players are focusing on improving their production capacity which will help them to increase market share.

GCC Concealed Cistern Market Leaders

GCC Concealed Cistern Market News

• In February 2022, Kohler collaborated with Daniel Arsham to produce a unique one-of-a-kind, 3-D sink with improved features that could attract more consumers in the future.
• In June 2021, Roca Group strengthened its global footprint by acquiring Sanit. With this deal, Roca Group, which operates in 170 countries and has 85 factories, will reinforce its presence in a category in which Sanit is the third-largest operator in Germany and the fifth-largest in Europe. Sanit offers an innovative cable-operated concealed cistern range with dual flush water-saving technology and its products are suited for both boutique and traditional bathrooms.