05-16-2019 12:00 PM CET - Fashion, Lifestyle, Trends

Home Appliances Market 2019-2023 Forecast Analysis: Key Major Players are Midea Group, Gree Electric, Qingdao Haier & Robam

Press release from: MarketReportsOnline

Home appliances are electrical machines used in household chores such as cooking, cleaning or food preservation etc. These appliances can be broadly divided into two categories: white goods, small kitchen appliances, and major kitchen appliances.

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White goods are the large appliances used for regular housekeeping tasks such as cleaning, laundry, food preservation. These include washing machine, refrigerator, and air conditioner (AC). Major kitchen appliances are bigger and not portable. They are generally built-in. Range hoods, gas stoves, and ovens are the most widely used major kitchen appliances. Small kitchen appliances are smaller and portable, generally used on table-tops, counter-tops, or other platforms, to perform a household task.

Chinese home appliances market is experiencing lucrative growth due to improving disposable incomes, urbanization, and increasing consumption of white goods in rural areas. China is the fastest growing home appliances market all over the world. Being technically advanced and relatively cheaper, many countries are importing home appliances from China. In China, there is a high replacement demand for white goods and small appliances. Whereas, major kitchen appliances market is witnessing a higher demand for new products. Premium white goods are being increasingly adopted by the consumers.

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Refrigerator and washing machine markets are majorly supported by the trend of premiumization. Air conditioner segment dominated the Chinese home appliances market due to high export and domestic demand of AC. However, AC market could see a downfall due to ongoing trade war with the U.S. Additionally, rising household debts in China could adversely affect the overall Chinese home appliances market.

China home appliances market is majorly dominated by Qingdao Haier (Haier electronics), Midea Group, Gree Electric, and Robam Appliances. Gree Electric is a major contributor for China AC market. Whereas, China online AC market is majorly ruled by AUX and Midea Group. Haier dominates the refrigerator and washing machine market in China.

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