The refrigerators market in Saudi Arabia  is set to grow at an annual rate of more than seven per cent during 2016 to 2021, according to a report.

 

The TechSci Research report 'Saudi Arabia Refrigerators Market By Type, By Capacity, By Sales Channel, By End Use Sector, Competition Forecast and Opportunities, 2011 - 2021,' said it was on account of increasing disposable income, growing urbanisation and favourable government regulations. 

 

With the Saudi Arabian government making it mandatory to supply refrigerators with three and above star rating, an increasing number of companies are launching refrigerators with energy efficient technologies as well as other innovative technologies such as invertor technology, total no frost technology and smart diagnosis technology, in Saudi Arabia, which is positively influencing the

country's refrigerators market.

 

Saudi Arabia's refrigerators market has been segmented into four broader categories that include top mounted freezer refrigerators, single door refrigerators, side-by-side refrigerators and French door bottom-freezer refrigerators. 

 

Among these categories, top mounted freezer refrigerators dominated the Saudi Arabia refrigerators market in 2015, and the segment's market dominance is expected to prevail over the next five years.

 

Karan Chechi, research director, TechSci Research, said: "In Saudi Arabia, urbanization is increasing rapidly, especially in country's metropolitan regions such as Riyadh, Dammam Metropolitan Area (DMA), Jeddah and Makkah. As per the estimates of Ministry of Municipal and Rural Affairs (MMRA), approximately 88 per cent of Saudi Arabian population will be living in the urban areas by 2025. 

 

"Backed by growing urbanisation, Saudi Arabia refrigerators market is anticipated to register healthy growth rate over the next five years. However, factors like challenging economic scenario, fluctuating crude oil prices and implementation of Saudization rules are anticipated to affect the volume growth of the country's refrigerators market to a certain degree during 2016 - 2021." - TradeArabia News Service