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Electric Household Appliances Market: Analysts Expect Robust Growth in 2024

Author : Ronak Bora | Published Date : 2020-09-10 

Electric household appliances market is witnessing a substantial influx of high-priced appliances with advanced features that are designed to reduce human work and provide superior home care. The worldwide electric household appliances industry players are emphasizing on developing smart and automatic devices by integrating electronics with intelligent sensors and machine programming.

Smart electric household appliances have already become a necessity for most of the households and can aptly be termed under the common saying “Home is where the smart is”. The global Electric Household Appliances Market is forecast to show strong growth prospects, as consumers have become more affluent and their choice of appliances have also become more sophisticated.

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Electric household appliances market is poised to witness increasing demand for energy efficient products, especially against a backdrop of escalating electricity charges worldwide and growing government emphasis on minimizing energy consumption.

The magnitude of growth across each product market such as air conditioners, kitchen appliances, dishwashers, washing machines, refrigerators, freezers, and dryers are prominently based on its technology, functionality, aesthetics, and energy efficiency. Of these, the cooking appliances are gaining renewed traction with specialty purpose products such as food processors, coffeemakers, blenders, and ovenware.

Electric household appliances market is witnessing a popular trend of multifunctional homewares, that offers added convenience and occupy a little space in houses. Today busy working schedule and smaller living spaces have created an understandable surge in the demand for automatic and space-conscious goods. For instance, Oxo, a Helen of Troy Ltd brand, launched innovative set of mixing bowls that come with silicon lids, which can also be easily converted into food storage containers.

Top Key Players In Electric Household Appliances Market are AB Electrolux, General Electric, Gree Electric Appliances, Inc. of Zhuhai, Haier Corporation, Hitachi, Ltd., LG Corporation, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corporation, Siemens AG, Tiger Corporation, Toshiba Corporation, V-Guard, Walton Group, Whirlpool Corporation

Another example is of Le Creuset, a renowned kitchen essentials brand which has introduced its new oval-shaped Dutch oven which has a reversible lid that can be used as a grill pan. Such product innovations have undoubtedly created huge scope for the growth of electric household appliances market over the coming seven years. Automatic washing machines, smart grid-connected dish washers, water heaters, and air conditioners, are among the others, that are gaining huge market potential with growing trend of home automation.

As per estimates, Asia Pacific electric household appliances market is anticipated to witness huge demand for home appliances due to rising spending capacity and rapid urbanization in the emerging regions.

Consumers are progressively seeking value added products that can reduce their efforts & time and are affordable at the same time. This has resulted into a robust demand for appliances including washing machines, air conditioners, and cooking appliances in the region which in turn have accelerated the growth of electric household appliances industry.

Table Of Content:

Chapter 4     Electric Household Appliances Market, By Product

4.1    Electrical household appliances market share by product, 2016 & 2024

4.2    Refrigerators & Freezers

4.2.1    Refrigerators & freezers market, by region, 2013 – 2024 (USD Billion)

4.3    Washers & Dryers

4.3.1    Washers & dryers market, by region, 2013 – 2024 (USD Billion)

4.4    Dishwashers

4.4.1    Dishwashers market, by region, 2013 – 2024 (USD Billion)

4.5    Room Air-Conditioners

4.5.1    Room air-conditioners market, by region, 2013 – 2024 (USD Billion)

4.6    Cooking Appliances

4.6.1    Cooking appliances market, by region, 2013 – 2024 (USD Billion)

Chapter 5    Electric Household Appliances Market, By Region

6.1    Key trends by region

6.2    North America

6.2.4   U.S.

6.2.5   Canada

6.3    Europe

6.3.3   UK

6.3.4   Germany

6.3.5   France

6.3.6   Italy

6.3.7   Spain

6.4    Asia Pacific

6.4.3   China

6.4.4   India

6.4.5   Japan

6.5    Latin America

6.5.3   Brazil

6.5.4   Mexico

6.6    MEA

6.6.3   GCC

6.6.4   South Africa

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/electric-household-appliances-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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