Global Electric Household Appliances Market 2024: Top Key Vendors are Electrolux, GE, Haier, Hitachi, LG Electronics, Panasonic, Robert Bosch GmbH, Samsung Electronics, Sharp Electronics Corporation USA, Siemens, Toshiba Corporation, V-Guard, Whirlpool Co

Electric household appliances market is playing a vital role in improving the economy of Asia Pacific and offers employment to millions of people. With continued economic advancements, consumers demand modernized equipment and are adopting technologically advanced electronics to enhance the overall quality of life. The low penetration level has led to considerable growth avenues manufacturers in the region. Technological advancements in engineering & design with the low pricing trends have made the products affordable for most of the consumers in Asia Pacific.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• AB Electrolux
• GE
• Gree Electric Appliances, Inc. of Zhuhai
• Haier
• Hitachi
• LG Electronics
• Panasonic
• Robert Bosch GmbH
• Samsung Electronics
• Sharp Electronics Corporation USA
• Siemens
• Tiger Corporation
• Toshiba Corporation
• V-Guard
• Walton Group
• Whirlpool Corporation

Electric Household Appliances Market size is set to exceed USD 600 billion by 2024. Consumers are willing to spend more on appliances, which can be used for an extended period. Moreover, they are progressively seeking value-added products owing to advanced specifications such as ease of cleaning and reduced cooking times. The presence of these products is making everyday life easier, thereby driving the sales in the electric household appliances market.

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It is expected that the online sales of air conditioners will show a rapid growth in the coming years as consumers are feeling comfortable purchasing branded appliances online. In addition, improvements in after-sales services have provided an impetus to the electric household appliances market growth. Manufacturers are working with several other companies to ensure timely delivery and installation after the online sales of the product.

With a rise in environmental and social consciousness, many consumers are looking for steps to diminish the impact on the atmosphere. Driven by the desire to contribute toward the environmental ecosystem, consumers are seeking products, which are energy-efficient and cost-effective, thereby driving the electric household appliances market.

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.

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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.

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