Tuesday 25 May 2021
Khind Middle East, representing consumer electronics brand Khind from Malaysia, which looks after the market development for the brand in 15 key markets across the region, has relocated to a bigger regional head office in Dubai.
Household appliance market revenue in the Middle East and Africa (MEA) region has been growing from USD 6.3 billion in 2017 to USD 7.6 billion in 2021 and it is projected to grow to USD 8 billion in 2022 and USD 8.4 billion in 2023, according to Statista.com, a global market intelligence advisory.
Khind is now focusing on offering complete home improvement solutions to customers.
In the UAE, revenue in the household appliances segment is projected to reach USD 332 million in 2021 while revenue is expected to show an annual growth rate (CAGR 2021-2025) of 14.84%, resulting in a projected market volume of USD 577 million by 2025. User penetration will be 21.5% in 2021 and is expected to hit 28.2% by 2025.
The Middle East home appliance market is expected to register a CAGR of 13.2% over the forecast period. The market is expected to expand on the back of rising disposable income coupled with changing lifestyles.
The global household appliances market was valued at USD 423.6 billion in 2018 and is expected to reach USD 670.1 billion by the end of 2025, growing at a CAGR of 5.9%.