White Goods Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast

"The Business Research Company recently released a comprehensive report on the Global White Goods Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The white goods market size has grown strongly in recent years. It will grow from $659.62 billion in 2023 to $715.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased demand for urbanization, income growth, changing lifestyles, replacement cycles, energy management..

The white goods market size is expected to see strong growth in the next few years. It will grow to $990.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to growing smart home integration, increasing e-commerce and online shopping, sustainability and eco-friendliness, health and hygiene features, remote diagnostics and maintenance. Major trends in the forecast period include smart and connected appliances, online retail and e-commerce, digital interfaces and touchscreen controls, remote diagnostics and maintenance, circular economy and recycling.

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Market Drivers and Trends:

The increase in the adoption of smart home appliances by customers to the reduced workload is expected to propel the growth of the white goods market. A smart home appliance is an electronic device connected to a central system that can be programmed or controlled remotely or function autonomously based on input from sensors, which detect temperature, light levels, or activity. Smart appliances are usually built to work with other smart devices, preferably part of a larger smart home system. There will be a significant demand for white goods in response to the rise in the adoption of smart home appliances. For instance, according to the smart home study published in Digitized House in May 2022, approximately 70% of consumers own at least one intelligent appliance product as the US has flying sales of intelligent appliances. In addition, the majority of customers still plan to add more such appliances in the future. Thus, the increase in the adoption of smart home appliances by customers is expected to drive the white goods market.

Major companies operating in the white goods market are launching innovative products such as the to make cleaning more convenient and user-friendly for people with busy schedules. These are the vacuum cleaners and self-cleaning robot cleaners used to make household cleaning more efficient and convenient. For instance, in August 2022, Dreame, Ltd, a China-based providing innovative and high-quality products, launched two new innovative household cleaning products, the Dreame H12 Wet and Dry Vacuum Cleaner, and the Dreame Bot W10 Pro Self-Cleaning Robot Vacuum and Mop. These products aim to simplify house cleaning tasks and save time. The vacuum cleaners incorporate Dreame's latest technologies, improving cleaning efficiency and expanding their coverage. The Dreame H12 Wet & Dry Vacuum Cleaner can both vacuum and mop in a single pass, making it ideal for areas like kitchens and dining spaces. The self-cleaning robot cleaner offers a 4,000Pa suction power and features a 19.2cm ultra-wide brush to effectively pick up dirt and debris, along with intelligent self-cleaning capabilities.

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Major Key Players of the Market:

Blue Star Limited, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Videocon Industries Limited, Amica Wronki Spólka Akcyjna, Arçelik A.S., Robert Bosch GmbH, Candy Hoover Group S.r.l., Dacor Inc., Daewoo Electronics Corporation, AB Electrolux, Fisher & Paykel Appliances Holdings Limited, BSH Hausgeräte GmbH, General Electric Company, Groupe SEB, Hisense Group Co. Ltd., Hitachi Ltd., Whirlpool Corporation, Liebherr-International AG, Miele & Cie. KG, Panasonic Corporation, Sharp Corporation, Siemens AG, Smeg S.p.A., Sub-Zero Group Inc., Toshiba Corporation, Vestel Elektronik Sanayi ve Ticaret A.S., Vestfrost Solutions A/S

White Goods Market 2024 Key Insights:

• The white goods market size is expected to see strong growth in the next few years. It will grow to $990.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• The Rising Adoption Of Smart Home Appliances Boosts The White Goods Market
• Innovative Products To Make Cleaning More Convenient And User-Friendly
• North America was the largest region in the white goods market in 2023

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