Industry Background:
The small domestic appliances market is expected to grow in the future due to the changing lifestyles and the increase in the spending capability of the working class. High demand for domestic appliances from emerging economies, an increase in the use of the internet and online shopping, and technological advancement are the key factors contributing to the growth of the small domestic appliances market. Changing lifestyles as well as preferences will help to drive the global small domestic appliances market. The major opportunities in the global small domestic appliances market exist in product differentiation and new product launch.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Haier Group Corporation (China), Dyson Limited (United Kingdom), Morphy Richards (United Kingdom), Groupe SEB (France), Kenwood Limited (United Kingdom), Koninklijke Philips N.V. (Netherlands), Robert Bosch GmbH (Germany) and Russell Hobbs (United Kingdom) |
This growth is primarily driven by Increasing Urbanization and Penetration of Lifestyle Appliances and Growing Demand for Highly Innovative Kitchen Appliances.
Globally, a noticeable market trend is evident Introduction of Artificial Intelligence (AI) in Floor Care Applications
Major Vendors, such as Haier Group Corporation (China), Dyson Limited (United Kingdom), Morphy Richards (United Kingdom), Groupe SEB (France), Kenwood Limited (United Kingdom), Koninklijke Philips N.V. (Netherlands), Robert Bosch GmbH (Germany) and Russell Hobbs (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies
Key Developments in the Market:
In Sep 2021, Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has completed the sale of the Domestic Appliances business to Hillhouse Investment, a global investment firm. The results of this transaction, which Philips announced on March 25, 2021, will be reported under discontinued operations in the third quarter of 2021.
In Dec 2022,Crompton Greaves Consumer Electricals Ltd. (CGCEL) is reinventing the modern Indian kitchen by introducing its innovative range of small domestic appliances. Designed keeping in mind ‘convenience and efficiency’ or combining design and technology for the modern living, the company has launched 1) Deluxe Hot Kettle 2) Rice Cooker 3) Air Fryer 4) OTG 5) Sandwich Maker 6) Popup Toaster 7) Hand Blender 8) Electric Chopper 9) Steam Iron.
Regulatory Insights:
“According to the Bureau of Energy Efficiency scheme, it focused on energy efficiency labels on high energy end-use equipment & appliances and lower down minimum energy performance standards. The main objective is to circulate the information among the consumers and it also provides certification to inform about the prospective purchasers that the equipment is highly energy efficient for its category”.
Influencing Trend:
Introduction of Artificial Intelligence (AI) in Floor Care Applications and Continues Product Innovations and New Product Developments
Market Growth Drivers:
Increasing Urbanization and Penetration of Lifestyle Appliances and Growing Demand for Highly Innovative Kitchen Appliances
Challenges:
Continues Technological Advancements leads to Maximum Manufacturing Cost
Restraints:
The Fluctuation of Raw Material Prices
Opportunities:
Growing Population and Their Respective Disposable Incomes and Upsurge Demand due to Wide Range of Product Portfolio and Affordable Price of the Equipment
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Small Domestic Appliances Market
- Analysis about New Entrants in Small Domestic Appliances Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Small Domestic Appliances Study Sheds Light on
The Small Domestic Appliances Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Small Domestic Appliances industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Small Domestic Appliances industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.