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Consumer Appliances Market Sales, Innovations And Trends Report 2024 To 2033
Consumer Appliances Market
As per the report, the consumer appliances market size has grown strongly in recent years. It will grow from $435.10 billion in 2023 to $465.85 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The consumer appliances market size is expected to see strong growth in the next few years. It will grow to $615.50 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
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The Surge In Restaurant Popularity Propels Growth In The Consumer Appliances Market
The rise in the popularity of restaurants is expected to propel the growth of the consumer appliances market going forward. Restaurants are establishments where food and beverages are prepared, served, and consumed, typically in exchange for payment. The popularity of restaurants is rising due to increasing consumer demand for convenient, diverse, and social dining experiences. Consumer appliances enhance operational efficiency, improve food quality, expand culinary capabilities, and enable restaurants to innovate, offer diverse menu options, and maintain high standards of hygiene and service. For instance, in June 2024, according to Statistics Sweden, a Sweden-based government agency, in the first quarter of 2024, restaurants saw a 1.2% increase in sales volume and a 5.9% rise in turnover at current prices compared to the same period in 2023. Therefore, the rise in the popularity of restaurants drives the consumer appliances market.
Advancements In AI-Based Kitchen Robotics Transforming Culinary Experience
Major companies operating in the consumer appliances market are developing AI-based kitchen robots to revolutionize meal preparation by enhancing efficiency, consistency, and convenience in both domestic and commercial kitchens. An AI-based kitchen robot is an advanced robotic system designed to assist with or fully automate various cooking and kitchen tasks by leveraging artificial intelligence and robotics technologies that revolutionize both home and commercial kitchens, making cooking more efficient, enjoyable, and accessible. For instance, in June 2024, Wonderchef, an India-based company that manufactures consumer appliances, launched Chef Magic, an all-in-one kitchen robot. This features 360° induction heating for efficient and even cooking, an in-built weighing scale for precision, and a user-friendly touchscreen interface similar to a smartphone. The device is Wi-Fi connected, allowing it to receive regular updates with fresh recipes, new features, and weekly enhancements.
The consumer appliances market covered in this report is segmented -
1) By Product Type: Kitchen Applications, Small Appliances, Washing Machine, Air Purifiers, Water Heaters, Water Purifiers, Cloth Dryers And Tumblers, Air Conditioners, Vacuum Cleaners
2) By Sales Channel: Offline, Online
3) By End User: Domestic, Professional
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Major companies operating in the consumer appliances market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, General Electric Company, Hitachi Ltd., Panasonic Corporation, Midea Group Co. Ltd. , Xiaomi Corporation, Haier Group Corp., Koninklijke Philips N.V., Whirlpool Corporation, BSH Hausgeräte GmbH, Sharp Corporation, AB Electrolux, Arçelik, Spectrum Brands Inc., Rinnai Corp., Havells India Ltd., Andis Company, VEGA, Syska, Hisense Inc., Sunbeam Products Inc., Wahl Clipper Corporation, Brio Product Group LLC
Contents of the report:
1. Executive Summary
2. Consumer Appliances Market Report Structure
3. Consumer Appliances Market Trends And Strategies
4. Consumer Appliances Market - Macro Economic Scenario
5. Consumer Appliances Market Size And Growth
…..
27. Consumer Appliances Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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