Trusted Business Insights presents the Updated and Latest Study on Electric Household Appliances Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Electric Household Appliances Market
Industry / Sector Trends
Electric Household Appliances Market size was around USD 350 billion in 2016, with shipments of over 600 million units.
India Electric Household Appliances Market Size, By Product, 2016 & 2024 (USD Million)
Electric household appliances market is expected to witness a significant growth over the forecast timeline due to the rising disposable income of individuals in Asia Pacific. The increasing demand for air conditioners, refrigerators, and washing machines, can be attributed to the improving living standards and increasing number of households across the globe.
Major appliances, such as washing machines, refrigerators, and air conditioners, have continued to sustain robust demand in APAC due to the high consumer demand. As regional economies are advancing, consumers have started utilizing modernized devices and adopting technologies to improve the household. The low-level adoption is translating to an untapped potential for electric household appliances market players. Steady growth is predicted in the developing markets while rural regions are set to outdo the trends due to the improving lifestyles and rising purchasing power.
The active participation from government organizations will provide significant opportunities for the industry participants. The economic downturn and poor export performances are anticipated to inhibit the market growth over the forecast timeline. Several countries are facing socioeconomic and economic challenges with structural challenges hindering the economic growth. Instability of exchange rates, inflationary pressures, and poor export performance are further straining major households with growing financial burdens.
Market Segmentation, Outlook & Regional Insights: Electric Household Appliances Market
Electric Household Appliances Market, By Product
The global air conditioners market demand is anticipated to rise due to rising temperatures and increasing income levels of the middle-class population. The construction activities followed by the improving living standards of the people will provide opportunities for the air conditioner industry growth over the next seven years. The surge in the adoption of air conditioners can further be attributed to the reduced prices of such products, contributing to the electric household appliances market growth.
The cooking appliances consist of small products, such as coffeemakers, food processors, blenders, which are generally designed for countertops. These are less expensive and are used for specialty purposes. They are gaining popularity owing to the increasing disposable incomes and lifestyle changes of consumers, reducing the price gap amongst the products offered by various companies and thereby propelling the global electric household appliances industry size.
Electric Household Appliances Market, By Region
Electric household appliances market in India is expected to witness a signficant demand over the future owing to the increasing disposable incomes and a significant rise in the demand in rural areas. In addition, government initiatives and the presence of a number of companies in India have also fueled the industry growth. Government initiatives, such as Make in India campaigns, have caused many manufacturers to boost their local production capacity and set up new production facilities in the country. Furthermore, the increase in working women population has contributed to the rise in the demand for electric cooking appliances and automatic washing machines.
The trend of increased spending of consumers is expected to drive the South Africa market growth. South Africa is leading its regional counterparts in terms of cropping up of manufacturing centers. Vicinity to Indian and Atlantic oceans, large population, and cheap labor are attracting several manufacturers from Europe and Asia Pacific. This is expected to reduce the cost of products, thus propelling the demand further. After catering to Asia Pacific markets, the technology product firms are now shifting their bases to Africa. Additionally, declining poverty levels are further driving the market in the region.
Key Players, Recent Developments & Sector Viewpoints: Electric Household Appliances Market
Industry players include LG, Samsung, Electrolux, Whirlpool Corporation, Siemens AG, Walton Group, etc. Due to the increasing demand for energy-efficient products, these industry participants are actively developing devices with more features such as temperature detection. R&D activities are also quite prevalent throughout the electric household appliances market. Various programs, such as the home energy action program, are being undertaken by the government bodies to deliver energy-efficient devices to low-income households. With countries directed toward minimizing the carbon emissions levels, several programs and policies are boosting innovations in product development efforts.
Electric Household Appliances Industry Viewpoint
The ecosystem is characterized by various government initiatives for using energy-efficient products. For instance, the Ohio Government has undertaken Electric Partnership Program (EPP), which is aimed at improving the electric efficiency of low-income households. Many regulations also characterize the industry, such as the electric equipment safety regulations and minimum energy performance standards, which look after the energy requirements of various appliances. Manufacturers are heavily investing in building products that can be managed through smartphones
What are the Key Insights Covered: Exhaustive Electric Household Appliances Market
1. Market size (sales, revenue and growth rate) of Electric Household Appliances industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Electric Household Appliances industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Electric Household Appliances industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Electric Household Appliances industry.
What is the Research Methodology used: Electric Household Appliances Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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 a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Electric Household Appliances Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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