Global Home Appliances Market Revenue, Opportunity, Segment and Key Trends 2019-2025
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Home Appliances Market: Industry Insights
The home appliance includes electrical or mechanical devices that are used in a household. Latest home appliances are more energy efficient and offer more advanced features. Home appliances mainly include electrical or mechanical devices such as refrigerators and freezers, air conditioners, coffee machines, heaters, recording devices, television and washing machines or dryers.
Home Appliances Market: Drivers and Restraints
The increasing middle-class economy, as well as availability of a wide range of home appliances at a competitive price, drives the growth of Home appliances market. Home appliances provide suitability, reduces manual efforts and save time that in turn consumer’s preference is increased extensively to purchase these home appliances. The increasing emergence of smart homes is supporting the proliferation of smart appliances that can be connected to the end user's smartphone and monitored remotely. Factors such as innovation in product, advanced features, development in products as well as product differentiation and integration of numerous value-added features in appliances propel the growth of the home appliances market.
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Home Appliances Market: Segmentation
Home appliances market is categorized into product type and distribution channel. On the basis of product type home appliances market is segmented into kitchen appliances, washing appliances, and entertainment appliances. Amon these product type kitchen appliances are further segmented into microwaves, refrigerators, and other product types. Among these kitchen appliances, the refrigerator is one of the essential parts of a household. The refrigerator holds a significant market share of the Home appliances market. Based on, distribution channel home appliances market is divided into E-Commerce, retail and others. E-Commerce is growing rapidly at an unprecedented rate all over the world that in turn fuels the growth of the home appliances market.
Home Appliances Market: Regional Insights
Geographically, the home appliances market in the Asia Pacific is expected to increase at a rapid rate. Rising disposable income, changing lifestyle, and growing awareness of people towards smart appliances drive the growth of the home appliances market in the Asia Pacific region. The sale of home appliances is increasing in developing countries such as Hong Kong, Japan, and Singapore. The demand for home appliances is increasing in North America and Europe regions. According to the U.S. Environmental Protection Agency (EPA), we can reduce greenhouse gas emissions by up to 130,000 pounds over the lifetime of efficient appliances.
Home Appliances Market: Competitive Analysis
The prominent players in the home appliances market are SAMSUNG, Whirlpool Corporation, Panasonic Corporation, Midea Group, LG Electronics, V-ZUG Ltd, Newell Brands, Haier Inc, Electrolux, and De’Longhi Appliances S.r.l. Product innovation and acquisitions and mergers are the key parameters to remain competitive and to gain greater market share.
Whirlpool Corporation Announced Partnership with Honeywell
In January 2018, Whirlpool Corporation expanded its smart home appliance ecosystem with the announcement of a collaboration with Honeywell. Consumers are able to connect smart appliances from Whirlpool Corporation to Honeywell’s line of connected thermostats, allowing for remote management of appliance operating modes and energy outputs.
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Reasons to Buy this Report:
• Comprehensive analysis of global as well as regional markets of the Home Appliances.
• Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
• Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
• Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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