Tag: Household Appliances Market Trends

The global household appliances market, is expected to reach USD 767 billion, growing at a CAGR of around 8% during the forecast period 2020–2026. The main reasons behind the growth of the market are rise in income level of the people around the world, rapid technological advancements in the electronics sector, and rapid urbanization. Other factors such as surge in housing sector, improved standard of living, and shift in consumer lifestyle, is expected to be the driving factors behind the growth of the appliances market.

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Household appliances, can be categorized into three segments. These are small appliances, major appliances, and consumer electronics. Small appliances, are portable or semi-portable machines that are usually used on raised platforms such as table tops, and counter tops. Examples of such appliances are blenders, electric kettle, coffee machine, hair dryer, and air purifiers, to name a few. Major appliances, are those appliances which is generally used for housekeeping works such as food preservation, washing laundry, cooking, and others. They are equipped with special connections such as plumbing, ventilation, and electrical, which limits the movements of these appliances. Consumer electronics devices are used for communications, entertainments, office activities, and home activities.

Market Trends, Drivers, Restraints, and Opportunities:

• Rise in income level of the people around the world, is anticipated to be a driving factor for the growth of the household appliances market.
• Surge in population around the world, is expected to have a positive impact in the growth of the devices in the market.
• Rapid technological advancements in the electronics sector, is a reason behind the growth of the devices in the market.
• The rate of urbanization is increasing exponentially, which is expected to have a positive impact in the growth of the devices in the market.
• Surge in housing sector especially in the urban areas in the emerging economies such as India, and China, is anticipated to be a driving factor for the growth of the devices in the market.
• The improved standard of living of people around the world, is expected to drive the growth of the devices in the market.
• A shift in consumer lifestyle, is expected to have a positive impact in the growth of the devices in the market.
• The increase in number of counterfeit products, in the market is anticipated to be an obstacle in the growth of the devices in the market.

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Competitive Landscape:

The number of companies, which operate in the global household appliances market, are quite a few in number. Some of these are

• Whirlpool Corporation
• Hitachi Appliances, Inc
• Panasonic Corporation
• Koninklijke Philips N.V.
• SHARP CORPORATION
• Morphy Richards
• Havells India Ltd
• Siemens AG
• Haier Corporation
• Toshiba Corporation
• Hitachi, Ltd

The market leaders are looking for various strategies such as partnerships, acquisitions, mergers, and product development to continue their market dominance. LG Electronic launched “LG Object”, in November 2018, its innovative electronics brand crafted to make it more user-friendly, and compatible with existing home furniture.

The Global Household Appliances Market, has been segmented on the basis of

Products:

• Air Conditioners & Heaters
• Laundry Appliances
• Dishwashers
• Cooking Appliances
• Storage Appliances
• Entertainment & Infotainment Appliances
• Others

Distribution Channels:

• Supermarkets & Hypermarkets
• Retail
• E-Commerce
• Direct
• Others

Regions:

• Europe
• North America
• Middle East and Africa
• Latin America
• Asia Pacific

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Table of Contents

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4.  Household Appliances Market Overview
5. Global Household Appliances Market Analysis and Forecast by Type
6. Global Household Appliances Market Analysis and Forecast by Application
7. Global Household Appliances Market Analysis and Forecast by Sales Channel
8. Global Household Appliances Market Analysis and Forecast by Region
9. North Household Appliances Market Analysis and Forecast
10. Latin Household Appliances Market Analysis and Forecast
11. Europe Household Appliances Market Analysis and Forecast
12. Asia Pacific Household Appliances Market Analysis and Forecast
13. Middle East & Africa Household Appliances Market Analysis and Forecast
14. Competition Landscape

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