Global Household Appliances Market By Product (Air Conditioners & Heaters, Laundry Appliances, Dishwashers, Cooking Appliances, Storage Appliances, Entertainment & Infotainment Appliances, Others), Distribution Channel (Supermarkets & Hypermarkets, Retail, E-Commerce, Direct, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Household Appliances Market
Global Household Appliances Market is expected to rise to an estimated value of USD 764.20 billion by 2026, rising from its initial estimated value of USD 521.59 billion in 2018, registering a CAGR of 4.89% in the forecast period of 2019-2026. This rise in market value can be attributed to the growth in the advancements and innovations of technologies resulting in advanced levels of product offerings.
Market Definition: Global Household Appliances Market
Household appliances also known as home or domestic appliances are devices and equipments that have been produced to increase the comfort levels of consumers and provide comfort in household activities such as cooking, cleaning, washing, storage, entertainment. Based on their functions and capabilities they are either mobile or fixed.
- Growth in the population living in urban areas resulting in increased levels of disposable income that have made these appliances affordable; these factors are expected to drive the market growth
- Growth in the amount of counterfeit products available in the market; this factor is expected to act as a restraint to the market growth
Segmentation: Global Household Appliances Market
- By Product
- Air Conditioners & Heaters
- Laundry Appliances
- Washing Machines
- Cooking Appliances
- Storage Appliances
- Wine Cellars
- Entertainment & Infotainment Appliances
- Music Systems
- Vacuum Cleaners
- Air Purifiers
- Coffee Machines
- By Distribution Channel
- Supermarkets & Hypermarkets
- Retail, E-Commerce
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In November 2018, LG Electronics announced the launch of “LG Objet”, their premium electronics brand designed to make it more compatible with existing home furniture. The products launched under the brand combine wood and metal materials to make it more compatible with home décor, even doubling up as them.
- In January 2018, BSH Home Appliances Group announced the launch of “Gaggenau” brand in India. This luxury products brand will complement the growing demand for luxury appliances. The products are to be imported from France & Germany will be in the price range of 2-20 lakhs.
Competitive Analysis: Global Household Appliances Market
Global household appliances market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of household appliances market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Household Appliances Market
Few of the major competitors currently working in the household appliances market are Whirlpool Corporation; Morphy Richards; LG Electronics; Havells India Ltd.; SAMSUNG; Electrolux; Koninklijke Philips N.V.; Haier lnc.; Panasonic Corporation; BSH Home Appliances Group; Hitachi Appliances, Inc.; Mabe; Midea Group; Miele & Cie. KG.; SHARP CORPORATION; Aabsal Company; Ariston Thermo SpA; BORK; MIRC ELECTRONICS LIMITED; V-GUARD INDUSTRIES LTD and Teka Group.
Research Methodology: Global Household Appliances Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure