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Global Household Appliances Market is Thriving with Rising Latest Trends by 2027 | Top Players- Whirlpool Corporation; Morphy Richards; LG Electronics; Havells India Ltd.; SAMSUNG
Global Household Appliances Market
Global Household Appliances Market is expected to rise to an estimated value of USD 764.20 billion by 2026, rising from its initial estimated value of USD 521.59 billion in 2018, registering a CAGR of 4.89% in the forecast period of 2019-2026. This rise in market value can be attributed to the growth in the advancements and innovations of technologies resulting in advanced levels of product offerings. Few of the major competitors currently working in the household appliances market are Whirlpool Corporation; Morphy Richards; LG Electronics; Havells India Ltd.; SAMSUNG; Electrolux; Koninklijke Philips N.V.; Haier lnc.; Panasonic Corporation; BSH Home Appliances Group; Hitachi Appliances, Inc.; Mabe; Midea Group; Miele & Cie. KG.; SHARP CORPORATION; Aabsal Company; Ariston Thermo SpA; BORK; MIRC ELECTRONICS LIMITED; V-GUARD INDUSTRIES LTD and Teka Group.
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Competitive Analysis: Global Household Appliances Market
Global household appliances market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of household appliances market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Global Household Appliances Market By Product (Air Conditioners & Heaters, Laundry Appliances, Dishwashers, Cooking Appliances, Storage Appliances, Entertainment & Infotainment Appliances, Others), Distribution Channel (Supermarkets & Hypermarkets, Retail, E-Commerce, Direct, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Bottomless information on notable strategies adopted by vital firms along with their key impact on the industry growth has been administrated in this Global Household Appliances Market business report. All the industry manufacturers can utilize the report to create themselves for facing difficult market challenges and facing further competition in the worldwide market. The report on the world market has been encompassed for the evaluation of distinct parameters that encourage the growth of the global industry. Reportedly, the Global Household Appliances Market research report explains restraints, key drivers, and industry trends that transform the international market either in a positive or negative manner.
Market Definition: Global Household Appliances Market
Household appliances also known as home or domestic appliances are devices and equipments that have been produced to increase the comfort levels of consumers and provide comfort in household activities such as cooking, cleaning, washing, storage, entertainment. Based on their functions and capabilities they are either mobile or fixed.
Market Drivers:
Growth in the population living in urban areas resulting in increased levels of disposable income that have made these appliances affordable; these factors are expected to drive the market growth
Market Restraints:
Growth in the amount of counterfeit products available in the market; this factor is expected to act as a restraint to the market growth
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Segmentation: Global Household Appliances Market
By Product
Air Conditioners & Heaters
Laundry Appliances
Washing Machines
Dryers
Dishwashers
Cooking Appliances
Ovens
Microwaves
Cooktops
Stoves
Fryers
Storage Appliances
Refrigerators
Wine Cellars
Freezers
Entertainment & Infotainment Appliances
T.V.'s
Music Systems
Others
Vacuum Cleaners
Air Purifiers
Irons
Blenders
Humidifiers
Coffee Machines
Kettles
Steamers
Others
By Distribution Channel
Supermarkets & Hypermarkets
Retail, E-Commerce
Direct
Others
Key Developments in the Market:
In November 2018, LG Electronics announced the launch of "LG Objet", their premium electronics brand designed to make it more compatible with existing home furniture. The products launched under the brand combine wood and metal materials to make it more compatible with home décor, even doubling up as them.
In January 2018, BSH Home Appliances Group announced the launch of "Gaggenau" brand in India. This luxury products brand will complement the growing demand for luxury appliances. The products are to be imported from France & Germany will be in the price range of 2-20 lakhs.
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Key Insights in the report:
Competitive analysis of key competitors involved in the market
Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
Market drivers and restraints analysis along with the analysis of the market structure
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