About Home Appliance Services
Home appliance service include repair of damaged or malfunctioning home appliances as well as install and maintain functioning appliances. The serviceman work on-site and in repair shops, depending on the size of the appliance and the type of work required. The appliances include refrigerators, ovens, washers, dryers, and others. These services are provided in household as well as enterprises. These factors are increasing the demand which is propelling the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.5% |
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. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Home Appliance Services market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BJ's Appliance Repair (United States), Prompt Appliance Repair Solutions (United States), Bosch (Germany), LG (South Korea), Siemens (Germany), Charlie's Appliance Repair (United States), Sai appliance service center (India), ACME (India) and Platinum Mechanical Services (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Atlas Appliance Services, Inc. (Australia) and Apex Appliance Repair (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Appliance Services market by Type (Refrigerators repair, Ovens repair, Washers repair, Dryers repair and Others), Application (Personal and Enterprise) and Region.
On the basis of geography, the market of Home Appliance Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Changing Lifestyle of Consumers
Market Growth Drivers:
Increasing Sales of Household Appliances is Fueling the Market Growth and Increasing Focus on Energy-Efficient Products, Increasing Digital Penetration, and the Rise in Aspiration
Challenges:
Accessibility Problems in Some Areas
Restraints:
High Costs Associated with the Services
Opportunities:
Rising Disposable Income is Boosting the Market Growth and Increasing Demand in Developing Economies
Market Leaders and their expansionary development strategies
On December 12, 2023, Bosch Home Appliances partnered with Xylem to develop and integrate smart water leak detection and prevention technology into their appliances
On January 10, 2024, Samsung announced the launch of its "Bespoke Home Service" in the United States, providing personalized installation, maintenance, and repair services for Samsung appliances
Key Target Audience
Home appliance provider, Service provider, Government associations, Research organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.