About Household Appliances
Home appliances are devices that are used to perform household chores, food preservation, cleaning, cooking, and other human comfort activities. Refrigerators, washing machines, air conditioners, microwave ovens, and vacuum cleaners are examples of household appliances. These appliances are sold through a variety of distribution channels, including multi-brand stores, specialty stores, online, and others. The household appliance market can continue to grow and adapt to the changing needs and preferences of consumers. Remember, the key is to offer innovative, sustainable, and user-friendly products that make people's lives easier and more enjoyable.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.0% |
The competitive landscape of the household appliances market is constantly evolving, and it is important for manufacturers to stay ahead of the curve by focusing on innovation, building strong brands, and providing excellent customer service. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Household Appliances 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.
Electrolux AB (Sweden), Haier (China), Hitachi, Ltd. (Japan), LG Electronics Inc. (South Korea), Godrej Appliances (India), Midea Group Co., Ltd. (China), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea) and Toshiba Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SKYWORTH (China), TCL Corporation (China), High sense Infotech (China), GE (United States) and V-Guard (India).
Segmentation Overview
AMA Research has segmented the market of Global Household Appliances market by Type (Refrigerator, Air Conditioner & Heater, Washing Machine, Cooktop, Cooking Range, Microwave & Oven and Others), Application (Kitchen, Cleaning, Entertainment & Information, Food Preservation and Others) and Region.
On the basis of geography, the market of Household Appliances 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). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Household Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price Range, the sub-segment i.e. Low will boost the Household Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement of smart appliances in automation
Market Growth Drivers:
Growing disposal income and Rapid urbanization growth in house sector
Challenges:
Concerns about Safety and Security
Restraints:
Fluctuation in raw material Price
Opportunities:
Focus on convenience, personalization & customization of household items and Rising trends such as more diversity, sustainability, effectiveness, smart functionality and stylish design of home appliances
Market Leaders and their expansionary development strategies
In September 2023, BSH Home Appliances announced partnership with Ikea to launch Symfonisk WiFi Speaker Lamp with Home Connect integration. This partnership has been seen as a strategic move for both companies, BSH tapping into Ikea's strong home furnishing expertise and Ikea expanding its smart home offerings. The Symfonisk Wi-Fi Speaker Lamp has been well-received by consumers and critics alike, praised for its sound quality, design, and innovative functionality.
In November 2023, LG Electronics unveiled its new LG SIGNATURE Washer and Dryer, a high-end laundry appliance duo featuring AI Direct Drive technology and advanced drying programs. The washer and dryer are designed to provide users with an optimal laundry experience, thanks to their ability to automatically adjust settings based on fabric type, load size, and moisture levels.
Key Target Audience
Manufacturers, Wholesalers, Consumer Electronics Industry, Potential Investors, Market Research & Consultancy Firm 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.