Home Appliances Market research report provides a in-depth study of industry plyers, market growth, size, share, challenges, standardization, deployment models, trends and cost structure, statistical and comprehensive data of the global market with forecast to 2020-2023
Worldwide “Home Appliances Market” report 2020 sheds light on key attributes of industry which contains market dynamics and growth of Home Appliances industry in upcoming years. This report also provides in-depth information of major key players, segmentation and applications and geographically analysis and contains information about Industry overview, Definition, Specifications, raw material and Suppliers, Cost Structure Analysis, RandD Status and Technology Source. Home Appliances market report presents the proficient and detailed analysis of the present situation of industry.
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The global home appliances market was valued at USD 174.07 billion in 2019 and is projected to reach a value of USD 203.37 billion by the end of 2023, at a CAGR of 2.6% over the forecast period 2018-2023.
Top Manufacturers Listed in the Home Appliances Market Report are:
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Detailed Overview about Home Appliances Market:
The global home appliances market is experiencing steady growth with the growing middle-class economy, improved disposable income levels in a number of countries, increase in labor costs, busier lifestyles, and the availability of a range of home appliances at competitive prices. With increasing digitalization, consumers have become tech-savvy and have strong knowledge regarding the use and benefits of all modern appliances. The number of smart appliances introduced in the market has increased steadily since 2012. The emergence of smart homes is aiding the proliferation of smart appliances, which can be connected to the end-user’s smartphone and monitored remotely.
Use of connectivity as a differentiating feature by manufacturers Wireless technologies like Wi-Fi, Bluetooth, and ZigBee can be used in or accessed by smartphones and tablets. But the inclusion of these technologies in home appliances (like air conditioners) is a means of product differentiation by manufacturers, that is enticing tech-savvy consumers. The improvement in network infrastructure has translated into better broadband and internet penetration. Therefore, consumers are increasingly opting for wireless and technologically advanced products, mostly for the convenience it offers.
Refrigeration Appliances Account for Significant Market Share
Only a few vendors like LG Electronics and Samsung Electronics have paved their way into the smart connected refrigerator space, with product offerings largely targeted at the developed markets. Also, the provision of smart connection in a refrigerator is more of an addition in terms of feature and not a breakthrough technology in mechanics. In developed countries, the demand for smart connected kitchen appliances are gaining traction owing to early technology adopters; however, these are still in the introduction phase, and we expect that it would take three to four years for them to reach a log phase. However, the rise in consumer spending coupled with the introduction of technologically advanced models within the category are influencing the market.
Developing Nations Dominate the Asia-Pacific Home Appliances Market
The smart appliances market in Asia-Pacific is expected to grow at a rapid rate. Developed countries like Japan, Singapore, Hong Kong, and Indonesia are expected to register an increase in the sales of smart appliances, mostly owing to the rising energy and labor costs, high purchasing power of consumers, and greater awareness about smart cities and smart integrated appliances. China has the highest demand for conventional air conditioners, by volume, across the globe, owing to government policies that favor energy-saving appliances, a growing property market, and hot weather. The merger of Haier and GE appliances has given Haier an access to the latter’s smart appliance technology expertise, which will make it a strong player in China.
Key Developments in the Market
• January 2018 – Whirlpool Corporation announces collaboration with Honeywell to expand its smart home appliance ecosystem.
• January 2018 – Electrolux has announced to acquire Schneidereit GmbH, a supplier of laundry rental solutions for professional customers in Germany and Austria.
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Moreover, development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states Home Appliances market trend, import/export, supply and consumption figures as well as cost, price, revenue and gross margin by regions, and other regions can be added.Home Appliances market forecast For the period of 2020-2023, this study provides the Home Appliances sales, revenue and market share for each player covered in this report.
Reasons to Purchase the Home Appliances Market Report:
– The report analyses how the shift towards safety will drive the global Home Appliances market.
– Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
– Study on the product type that is expected to dominate the market.
– Study on the regions that are expected to witness fastest Home Appliances Market growth during the forecast period.
– Identify the latest developments,Home Appliances market shares and strategies employed by the major market players.
– Analyzing what will be the Home Appliances Market size.
Major Points from Table of Contents:
1. Introduction1.1 Key Deliverables of the Study1.2 Study Assumptions1.3 Market Definition1.4 Key Findings of the Study2. Research Approach and Methodology3. Executive Summary4. Market Dynamics4.1 Market Overview4.2 Factors Driving the Market4.2.1 Technological Advancements in the Home Appliances Sector4.2.2 Increasing Competition From New Entrants Resulting in Low Cost Solutions and Improved Services4.2.3 Urbanization and Changing Life Patterns4.2.4 Rise in Disposable Income Observed Across the Globe4.3 Factors Restraining the Market4.3.1 High Product Costs4.3.2 Lack of Awareness Among Consumers in Terms of Operability and Convenience Offered4.4 Industry Attractiveness Porter’s Five Forces Analysis4.4.1 Bargaining Power of Suppliers4.4.2 Bargaining Power of Consumers4.4.3 Threat of New Entrants4.4.4 Threat of Substitute Products or Services4.4.5 Competitive Rivalry among Existing Competitors5. Global Home Appliances Market Segmentation5.1 By Geography5.1.1 North America5.1.1.1 United States5.1.1.1.1 By Product *(Kindly note that similar product segment coverage is provided for all other countries in the scope)5.1.1.1.1.1 Washing Appliances5.1.1.1.1.2 Dishwashers5.1.1.1.1.3 Refrigerators5.1.1.1.1.4 Hood Appliances5.1.1.1.1.5 Microwaves5.1.1.1.1.6 Vacuum Cleaners5.1.1.1.1.7 Coffee Machines5.1.1.1.2 By Distribution Channel *(Kindly note that similar distribution channel segment coverage is provided for all other countries in the scope)5.1.1.1.2.1 Retail5.1.1.1.2.2 E-Commerce5.1.1.1.2.3 Others5.1.1.2 Canada5.1.2 Europe5.1.2.1 UK5.1.2.2 Germany5.1.2.3 France5.1.2.4 Spain5.1.2.5 Italy5.1.2.6 Russia5.1.2.7 Poland5.1.2.8 Netherlands5.1.2.9 Ukraine5.1.2.10 Portugal5.1.2.11 Sweden5.1.3 Asia-Pacific5.1.3.1 China5.1.3.2 Japan5.1.3.3 India5.1.3.4 Singapore5.1.3.5 Australia5.1.3.6 Malaysia5.1.3.7 Indonesia5.1.3.8 Philippines5.1.3.9 South Korea5.1.4 Middle East and Africa5.1.4.1 Saudi Arabia5.1.4.2 United Arab Emirates5.1.4.3 Egypt5.1.4.4 Israel5.1.4.5 Morocco5.1.4.6 Turkey5.1.5 Latin America5.1.5.1 Mexico5.1.5.2 Brazil5.1.5.3 Colombia5.1.5.4 Argentina5.1.5.5 Chile5.1.5.6 Venezuela6. Competitive Intelligence Company Profiles6.1 BSH Hausgeräte GmbH6.2 Conair Corporation6.3 De’Longhi S.p.A6.4 Electrolux AB6.5 Haier Electronics6.6 Newell Brands6.7 V-Zug AG6.8 Joyoung Co.,Ltd6.9 Küppersbusch Hausgeräte GmbH6.10 LG Electronics6.11 GD Midea Holding Co., Ltd6.12 Panasonic Corporation6.13 Groupe SEB6.14 Samsung Electronics6.15 Whirlpool Corporation6.16 CLATRONIC International GmbH6.17 NACCO Industries, Inc.6.18 Franke Holding AG7. Investment Analysis8. Outlook of Home Appliances Market
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