Japan Household Appliance Market is Expected to Reach $27,979.0 Million by 2025 | Leading Key Players AB Electrolux, Haier, Hitachi, Whirlpool, Samsung & Others
The Japan household appliance market is segmented based on product and distribution channel. Depending on product, the Japan household appliance market is classified into refrigerator, air conditioner & heater, entertainment & information appliances, washing machine, dish washer, wall oven, microwave, cooking appliances, coffee machine, blender, juicer, canister, deep cleaners, other vacuum cleaners, steam mop, and other appliances. Base on distribution channel, the market is divided into supermarket, specialty store, manufacturer store, e-commerce company and others.
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Entertainment & information appliances was the highest revenue generator of Japan household appliances market and is expected to witness a CAGR of 4.4% during the forecast period. The entertainment & information appliances manufacturing industry is highly dynamic in nature. Technological advancements and replacement play a vital role in the growth of the industry. Growth in penetration of Smart TVs facilitates the use of applications that were earlier developed for smartphones. The television is getting smarter with the addition of features such as web surfing, downloading videos, live streaming of games from websites, and downloading news and traffic updates. Although smart TVs presently comprise only a small portion of the overall sales, the adoption of these devices is on the rise with consumers recognizing the availability of the vast amount of web-based content.
Presently, the television market is in the fourth generation of connected TVs, with major manufacturers competing for TV models with the latest innovations in user interface, content aggregation, and application development. Smart TVs are equipped with an operating system to run apps and widgets, which can stream videos and music. It enables the user to access various new functions such as recording TV programs and surfing the Internet, by which user can access sites that include Google, Facebook, and others with the help of Wi-Fi connectivity. The growth of Japan household appliances market is attributed to the increase in per capita income of consumer, which fuels the improvement in lifestyle and enables higher standards of living. The convergence of technologies and platforms, lifestyle trends, growth in need for mobility, and technological advances are fundamentally changing the way in which consumers interact with media content. The market growth for entertainment & information appliances is also being driven by the emergence of wireless technology and subsequent demand for smart entertainment devices that have Wi-Fi connectivity embedded in them. These devices help streamline the setup, allowing the user to access music and movies of their choice without a lengthy process. Majority of the companies operating in the home entertainment market are focusing on product launches to enhance their product portfolio and bring competitive product offerings into the market thus increasing the Japan household appliance market size.
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Key findings of the Japan Household Appliance Market:
• By product type, the refrigerator segment of Japan household appliances market is expected to grow at a CAGR of 5.1%, in terms of revenue, from 2018 to 2025.
• By product type, the washing machine segment is expected to grow at a CAGR of 3.4%, in terms of revenue, from 2018 to 2025.
• By product type, the cooking appliances segment is expected to grow at a CAGR of 4.4%, in terms of revenue, from 2018 to 2025.
• By product type, the wall oven segment is expected to, grow at a CAGR of 5.0% in terms of revenue, from 2018 to 2025.
• By distribution channel, the specialty store real segment is expected to lead the Japan household appliance market at a CAGR of 3.7%
Some of the key strategies adopted by Japan Household Appliance Industry players in this market are acquisition, business expansion, partnership, collaboration, product launch, merger, joint venture, and agreement. Key players profiled in the report include AB Electrolux, Qingdao Haier Co., Ltd. (Haier), Hitachi, Ltd., LG Electronics Inc. (LG), Midea Group Co., Ltd. (Midea), Panasonic Corporation (Panasonic), Robert Bosch GmbH, Samsung Electronics Co., Ltd., Sharp Corporation (Sharp), and Whirlpool Corporation.
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