Dublin, June 06, 2024 (GLOBE NEWSWIRE) -- The "Egypt Commercial Stainless Steel Refrigerator Market 2024-2030 Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue: Market Forecast By Capacity, By Types, By Applications and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Egypt's commercial stainless steel refrigerator market witnessed significant growth in recent years owing to the growing hospitality sector. For instance Talaat Moustafa Group of Egypt and Saudi billionaire Prince Alwaleed Bin Talal have agreed to invest $800 million in hotel construction.
Additionally, the expanding retail sector in Egypt, such as Majid Al Futtaim (MAF) retail has announced plans for further investment in the Egyptian market, including a $16 Million investment in 2023 to $30 Million till 2025 is set to further drive the demand for refrigerators in the retail sector.
According to this research, the Egypt Commercial Stainless Steel Refrigerator Market revenue size is projected to grow at a CAGR of 8.5% from 2023E-2029F. The market is expected to grow in the future due to an increase in FDI in hypermarkets and supermarkets such as City Edge's $133mn North Square Mall in New Alamein City opened in 2022 which also includes a five-star hotel with 22 keys scheduled in 2022 and 46 keys by end-2023 which would boost the Egypt refrigerator market.
Additionally, major hotel chains are expanding their presence in the country for instance the Oaks Egypt New Capital Apartments & Suites, which are now being built around 25 miles east of Cairo, to be launched by 2025. Moreover, Hilton Worldwide plans to add 9 additional hotels with 1,700 rooms in Egypt by 2026. These factors would translate into an increase in the demand for refrigerators in the Egypt region in the coming years.
Rising prices of steel by up to 17 per cent in 2022 coupled with the nation's dependence on imports would act as a key off-putting factor for the commercial stainless steel refrigerator market across Egypt
Report Scope:
- Market Segmentation by Capacity
- 700.1-1000 litre refrigerators occupied the majority of revenues in Egypt commercial stainless steel refrigerators industry on the back of the higher demand for these refrigerators in supermarkets/hypermarkets.
- Market Segmentation by Types
- Upright Refrigerators are expected to grow the most in the Egypt commercial stainless steel refrigerator market during the forecast period, owing to convenient configuration, as it enables easy access to food inventory. Moreover, these refrigerators are easier to clean and maintain which would further create demand for upright refrigerators in hotels and restaurants in the coming years.
- Market Segmentation by Applications
- On the back of significant investments of around $8 million by Carrefour Egypt to build 10 new stores in 2022. Further, with an investment of $1 billion by Lulu Group to establish 30 hypermarkets and 100 express minimarket stores by 2024, the supermarkets/hypermarkets would garner the maximum revenue in Egypt's commercial stainless steel refrigerator market.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Egypt Commercial Stainless Steel Market Overview
3.1. Egypt Commercial Stainless Steel Market Revenues and Volume, 2019-2029F
3.2. Egypt Commercial Stainless Steel Market Industry Life Cycle
3.3. Egypt Commercial Stainless Steel Market Porter's Five Forces Model
3.4 Egypt Commercial Stainless Steel Refrigerator Market Revenue & Volume Share, By Capacity
3.5 Egypt Commercial Stainless Steel Refrigerator Market Revenue & Volume Share, By Types
3.6 Egypt Commercial Stainless Steel Refrigerator Market Revenue & Volume Share, By Applications
4. Impact Analysis of COVID-19 on Egypt Commercial Stainless-Steel Market
5. Egypt Commercial Stainless Steel Market Dynamics
6. Egypt Commercial Stainless Steel Market Trends & Evolution
7. Egypt Commercial Stainless Steel Market Overview, By Capacity
8. Egypt Commercial Stainless Steel Market Overview, By Types
9. Egypt Commercial Stainless Steel Market Overview, By Applications
10. Egypt Commercial Stainless-Steel Refrigerator Market - Penetration Analysis
11. Egypt Commercial Stainless-Steel Refrigerator Market - Consumer Behavioural and Preference Analysis
12. Egypt Commercial Stainless-Steel Refrigerator Market - Price Trend Analysis
13. Egypt Commercial Stainless-Steel Refrigerator Market - Key Performance Indicators
14. Egypt Commercial Stainless Steel Market Opportunity Assessment
15.Egypt Commercial Stainless-Steel Refrigerator Market Competitive Landscape
16.Company Profiles
- LG Electronics.
- Beko
- Robert Bosch
- Iceberg Commercial Display
- White Whale
- Liebherr Group
- EGY Trade
- Foster Refrigerators
- Coreco
For more information about this report visit https://www.researchandmarkets.com/r/ewb00t
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