Infrastructure Projects to Fuel KSA Furniture Market

According to our research report “Saudi Arabia Furniture Market Analysis”, construction activities in the Middle East region have grown remarkably over the past few years. Due to a huge demand from the construction sector, furniture consumption throughout the GCC and Saudi Arabia, in particular, has gone up substantially. The country is at the forefront of construction activities in the Gulf; the value of projects planned or announced for 2010-2015 is roughly SR 1,575 Billion. This growth of construction industry will further enhance the Saudi Arabia furniture market. Our report has also discussed other factors that have been fueling growth in the Saudi Arabia furniture market.

 

Currently, the Saudi Arabian furniture industry is witnessing a huge demand-supply gap due to massive in-efficient and underdeveloped wood products industry. Domestic manufacturers are facing shortage of furniture raw material and parts and hence, huge imports become inevitable. However, it is expected that dependence on imports will reduce in future as many international furniture giants are establishing their roots in the Kingdom. Besides, raw material supply is getting government attention. We have analyzed the production scenario, demand potential, and imports & exports patterns of the furniture industry. Forecasts have also been provided for them till 2013.

 

We have found that the Central region is considered as the hub for country’s furniture manufacturing industry. Riyadh, Qasim, Hail etc. are the most preferred regions for manufacturing furniture in the Kingdom. It is anticipated that in coming few years, the Central region will continue to dominate furniture manufacturing in the Kingdom. The upcoming economic cities projects will amplify both office and household furniture demand in the region.

 

Our production analysis found that the in-efficient wood product industry has been the major growth inhibitor for furniture industry in the Kingdom. The supply of materials has been very limited and country is highly dependent on semi-finished and finished furniture products imports from other countries and that too on higher prices. Our report also provides an overview on interior design contracting and fit-out industry including hotels, offices, retail, and residential segments. An analysis has also been conducted on regulatory environment and consumer behavior.

For more information visit: http://www.rncos.com/Report/IM271.htm