Household Appliances Market Research Report

 

The GMI Research forecasts that the household appliances market is witnessing an upsurge in demand over the forecast period starting from 2020 till 2027. This is mainly due to rising digitalization, growing per capita income, and increasing consumer demand for technologically advanced products.

Introduction of the Household Appliances Market:

Home appliances are also called household appliances. They are electromechanical, electric, gas-powered appliances that are generally used to support several household functions, such as food preservation, cleaning, or cooking. The certain factors for households globally use multiple appliances such as climate, income, socio-economic conditions, behavioral tendencies, and geographic location.

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Household Appliances Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Rising digitalization, growing per capita income, and increasing consumer demand for technologically advanced products globally will surge the growth of the global household appliances market. The emerging trend of using powered and automatic household appliances to reduce the housekeeping chores due to the significantly changing consumer lifestyle, which led to an upsurge in demand for household appliances during the forecast period. Several home appliances provide various advantages, including saving time, labor cost, and high convenience. Furthermore, the rapid development of smart homes is leading to increased adoption of smart appliances, along with increasing adoption of connected solutions and continuous urbanization, which will attract many consumers to opt for household appliances in the upcoming years.

Some of the major factor propelling the market growth, including an upsurge in the female labor force participation rates as the household appliances, decreases the time devoted to the chores. Rapid technological advancements in household appliances, including IoT and growing investments in the research & development activities to decrease cost, the implementation of artificial intelligence, and complexity and allow energy savings are some other factors accelerating the growth of the global household appliances market share in terms of revenue across the world. On the other hand, the high cost of household appliances and an upsurge in the number of counterfeit products will hamper the growth of the global household appliances market.

Key Players of the Global Household Appliances Market:

·        Haier lnc.

·        AB Electrolux

·        Hitachi, Ltd.

·        LG Electronics

·        Panasonic Corporation

·        Midea Group

·        Samsung

·        BSH Hausgeräte GmbH

·        Sharp Corporation

·        Whirlpool Corporation

Household Appliances Market Segmentation:

Segmentation by Product:

·        Air Conditioner & Heater

·        Refrigerator

·        Washing Machine

·        Entertainment & Information Appliances

·        Cooktop, Cooking Range, Microwave & Oven

·        Cleaning Appliance

·        Others

Segmentation by Distribution Channel:

·        Specialty Stores

·        Supermarket & Hypermarket

·        E-Commerce

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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