How Is The Competition Scenario Saudi Arabia Furniture Market?
Competition stage within the Saudi Arabia furniture market was observed to be highly fragmented along with the presence of multiple domestic as well as global players. Furniture products of various price segments, inclusive of cheap, mid-segment and luxurious/premium products are designed by several manufacturers to cater to the needs of ever-expanding the customer base of all classes. Over the years, the competition between the domestic and international players has intensified owing to the increase in demand for furniture products in the KSA. The organized sector has been posing a threat to the unorganized sector for a long while now. However, organized players have been successful due to their rising marketing campaigns and promotions which largely include the price reduction on MRP and high quality being offered at low cost. Apart from that, some of the major parameters on the basis of which companies compete in the market include a number of stores, pricing, and type of material used in furniture, product SKUs, online presence/distribution channel and others.
Case Study For Installing Home Furniture In Saudi Arabia
A set of assumptions have been considered while writing a case study on home furniture installation in the country. Apartment-style houses have been considered where 2 BHK apartments were most widely preferred by the customers of the country ranging from ~ sq. meter to ~sq. meter. We have considered the area of the apartment to be ~square meter. The apartment consists of ~ bedrooms of which one is a master bedroom, with different dimensions, have been considered. The apartment consists of one living room and one kitchen and dining area owing to limited plot size availability with most 2BHK apartments.
Case Study For Installing Hotel Furniture In Saudi Arabia
The hotel furniture installed across Saudi Arabia hotels varies in terms of the quality of the furniture being used which defines the target audience being catered. Luxury and premium hotels are likely to invest heavily on furniture in order to offer exclusive experiences to their customers. However, the budget-friendly hotel is conservative about their spending on furniture. The replacement cycle of furniture is higher in luxury hotels as compared to budget-hotels.
What Is The Future Outlook For The Saudi Arabia Furniture Market?
The furniture industry of Saudi Arabia is expected to grow at a positive double-digit CAGR during the forecast period 2019-2023. The increase in furniture demand is fueled by factors such as the rising number of hotels and resorts due to the promotion of tourism in Saudi Arabia. Government interventions will play a crucial role in driving the furniture market in Saudi Arabia. The relaxation of norms for foreign companies to enter the Saudi Arabia market will drive the increased demand for commercial space hereby, elevating commercial furniture demand. Changing people's preferences from bulky furniture to sleek as well as multi-purpose furniture will also increase the scope of furniture market over the long term. Upcoming real estate projects such as Amaala and The Red Sea Project will also contribute to the rising demand for luxury furniture in the near future.
Key Segments Covered:-
Market Structure
Organized Segment
Unorganized Segment
Material Used
Wood
Glass
Metal
Plastic
Others (Bamboo and MDP)
End Users
Residential Purpose
Bedroom Furniture
Beds
Beds without Storage
Beds with Storage
Size of Beds
Single Size Bed
Double Size Bed
Queen Size Bed
Material Used in Beds
Wood
Steel
Mattresses
Chests of Drawers
Wardrobe
Living Room Furniture
Sofa
Material Used in Sofa
Fabric
Leather
Sofa Seating Furniture
3+2 Seating
3+2+1+1 Seating
Other Seating Pattern
Coffee Table and Centre Table
Material Used in Coffee Table and Centre Table
Wood
Steel and Glass
Sofa cum Bed
Others (TV Cabinets and Stools)
Dining Table Furniture
Material Used in Dining Table
Wood
Others (Steel and Glass)
Seating Arrangement of Dining Table
< 6 Chairs
6-8 Chairs
8 Chairs
Type of Kitchen Furniture
Modular
Regular
Outdoor Furniture
Style of Residential Indoor Furniture
Modern and Contemporary
Traditional or Classic
Hospitality Furniture
Commercial
Type of Office Furniture
Workstation Desk
Office Chair
Conference Table
Corner Table
Office Storage
Key Target Audience
Furniture Retailers
Furnishings Retailers
Private Equity Companies
Contract Furniture Manufacturers
Furniture Association
Government Associations
Real Estate Developers
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Companies Covered
IKEA
Home Centre
Almutlaq Furniture
Al-Rugaib Furniture
Al Jedaie Office Furniture
El Ajou Group
Key Topics Covered in the Report:-
Saudi Arabia Furniture Market
Saudi Arabia Furniture Industry
Furniture industry in the KSA
Saudi Arabia furniture market revenue in 2018
Furniture sector in KSA
Saudi Arabia Residential Furniture Market
KSA Furniture Market Analysis
Saudi Arabia Furniture Manufacturers
Saudi Arabia Furniture Market Revenue
Saudi Arabia Furniture Retailers Market
Saudi Arabia Outdoor Furniture Market
Saudi Arabia Office Furniture Market
Office Furniture Market in Riyadh
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Ankur Gupta, Head Marketing & Communications
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