The Modular Kitchen market in GCC is going to exhibit continuous development on the account of rising construction, recovery in oil prices, utility, development, and infrastructure projects. There is a positive outlook in the market for the rising infrastructure and construction in urban areas. Urban development is taking place in countries such as KSA and UAE owing to the rising population and foreign nationals’ population.
GCC countries are also making reforms in the market by diversification and encouraging foreign direct investments in the market. Strong growth in the residential unit’s demand is likely to increase the construction in the market and fuel the demand for modular Kitchens. As on account for more people leading a hectic and sedentary lifestyle, they prefer energy-efficient and time-saving solutions hence modular kitchens.
Currently, the market produces modular kitchen designs that include L-shape, U-shape, Parallels Straight, Island, and Peninsula, designs. There is more use of Lacquered wood kitchen materials in the GCC modular kitchen designs. Remodeling and refurbishing of households to increase the demand for property value are also adding to the creation of modular kitchens in the region.
Customization of modular kitchens according to preferences of customers is rising in the market. Kitchens with matt finish, colour coordinated and contrast designs are trending in the market.However, high costs of designing kitchen along with maintenance can hamper the growth of the market. Oil price collapse and shock caused by pandemic can also affect the demand for the current year in the market.
Key Market Trends
Saudi Arabia is Dominating the Modular Kitchen Market in GCC
Country-wise the market has been segmented into the Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman. Among them, the Kingdom of Saudi Arabia is leading the modular kitchen market in the region. Rising population and construction are fuelling the demand for housing units in the market. As the kitchen is considered the hearts of homes, people are keen on investing in them and build modular designs. Storage and convenience offered by the utilization of small spaces are expected to favor the demand for modular kitchen construction in the country.
According to the source, 18.6 million worth of building contracts project was awarded in the Kingdom of Saudi Arabia which in the future would need interior construction as people come and stay there. Expenditure on the construction of the kitchen comes in the necessity which can lead to investments in modular kitchens market in KSA.
Increase in Building Construction in GCC Fostering Modular Kitchen Demand
As households are getting smaller, they are opting for apartments, giving rise to building construction in the country. This is, in turn, inflating real estate prices and overcapacity is being witnessed in the GCC market. Despite that, there is an increase in demand for modular kitchens in residential properties in order to efficiently utilize the space in the households. As modular kitchens can be put together and removed easily because of its fabrication in factories. the kitchen designs save construction work at home.
Rapid economic development and a rise in the number of building construction across GCC coupled with a growing population, ex-pats in the region, will result in the demand for modular kitchen designs in the GCC.
Vision 2030 of KSA and Sheikh Zayed Housing Programme (UAE) with plans to construct housing in the countries is going to positively affect the demand of the modular kitchens industry in the GCC.
The Modular Kitchen market of the GCC is moderately fragmented with competition in the market from regional and international players in the market. The players are innovating different designs and colors in the kitchens to suit the style of the makers.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support