Press release
Household Appliances Market Size, Share, Trends, Growth, Report and Forecast 2024-2032
Household Appliances Market
According to the report by Expert Market Research (EMR), the global household appliances market size reached a value of USD 670.98 billion in 2023. Aided by the technological advancements, changing consumer lifestyles, and the increasing emphasis on home comfort and energy efficiency, the market is projected to further grow at a CAGR of 5.2% between 2024 and 2032 to reach a value of USD 1,059.20 billion by 2032.
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Household appliances, encompassing a wide array of products from refrigerators to washing machines and smart home devices, have evolved beyond mere utility to become integral components of the contemporary home ecosystem. This evolution is supported by the relentless pursuit of innovation, sustainability, and consumer-centric design, marking a new era in the domestic experience.
The household appliances market growth is propelled by several key factors. Foremost among these is the technological revolution, which has introduced a new dimension of smart and connected appliances. These devices, equipped with IoT capabilities, offer unprecedented levels of convenience, efficiency, and personalisation, catering to the sophisticated needs of the modern consumer.
Energy efficiency and sustainability have also emerged as critical market drivers. Amidst growing environmental concerns, consumers are increasingly opting for appliances that minimise energy consumption and reduce carbon footprints. Manufacturers have responded with products that boast superior energy ratings, innovative eco-friendly technologies, and recyclable materials, aligning product offerings with the global sustainability agenda.
Changing lifestyles and demographic shifts influence the household appliances market outlook. The rise of urbanisation, smaller household sizes, and the increasing participation of women in the workforce have led to a heightened demand for time-saving and convenient household solutions. Additionally, the global middle class's expansion has broadened the market's consumer base, increasing accessibility to a wider array of household appliances.
A notable trend is the rise of smart appliances, which integrate with home automation systems to offer remote control, maintenance diagnostics, and energy management features. These smart appliances are gaining traction among tech-savvy consumers seeking to enhance their home living experience.
According to the household appliances market analysis, customisation and aesthetics have also become important market factors, with consumers seeking appliances that not only perform efficiently but also complement their home décor. Manufacturers are thus offering products in various styles, colours, and finishes, blending functionality with design.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/household-appliances-market
Household Appliances Market Segmentation
The market can be divided based on type, distribution channel, and region.
Market Breakup by Type
Major Appliances
Air Conditioners
Refrigerators
Washing Machines
Dishwashing Machines
Freezers
Ovens
Others
Small Appliances
Vacuum Cleaners
Grills and Roasters
Food Processors
Coffee/Tea Makers
Others
Market Breakup by Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Speciality Stores
Online
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global household appliances market. Some of the major players explored in the report by Expert Market Research are as follows:
Robert Bosch GmbH
LG Corporation
Samsung Electronics Co., Ltd
Sony Group Corporation
Whirlpool Corporation
Hitachi, Ltd.
Panasonic Corporation
Toshiba Corporation
Midea Group
Electrolux AB
Haier Inc.
Westinghouse Electric Corporation
De' Longhi Group
Nikai Group
Others
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