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Home Appliances Glass Market Report 2024 - Home Appliances Glass Market Opportunities, Trends, And Forecast
Home Appliances Glass Market
According to The Business Research Company's, The home appliances glass market size has grown strongly in recent years. It will grow from $7.56 billion in 2023 to $7.98 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to consumer preferences, energy efficiency requirements, growing demand for smart appliances, economic trends, globalization, material innovation.
The home appliances glass market size is expected to see strong growth in the next few years. It will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to smart home integration, internet of things (iot) integration, urbanization, health and safety standards, supply chain dynamics. Major trends in the forecast period include increasing demand for energy-efficient appliances, rapid prototyping and 3d printing, collaborations with designers and architects, advancements in glass technology, focus on aesthetics.
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Market Drivers and Trends:
The increasing number of smart home devices is expected to propel the growth of the home appliance glass market going forward. Smart home devices refer to electronic devices, appliances, and systems that are equipped with connectivity features and can be controlled remotely or automated through a network, often via the Internet. Home appliance glass is utilized in smart home devices for enhanced aesthetics, durability, and touch interfaces, contributing to the seamless integration and modern design of these connected appliances. For instance, in July 2023, according to the Canadian Internet Use Survey by Statistics Canada, a Canada-based government agency, reported that the use of internet-connected smart home devices continued to grow, up from 42% in 2020 to 47% in 2022, with smart speakers (30%) being the most popular device. Therefore, the increasing number of smart home devices is driving the home appliance glass market.
Product innovation is a key trend gaining popularity in the home appliance glass market. Major companies operating in home appliance glass are focused on developing innovative solutions to strengthen their position in the market. For instance, in October 2021, Schott AG, a German-based multinational glass manufacturing company, introduced the CERAN Luminoir, a new generation of glass-ceramic for cooking that will make it even easier to develop smart cooktops. It can be used by home appliance manufacturers to increase the safety and usability of cooktop operations. This product's defining characteristic is its lighting system, which allows white and blue light in particular to shine brighter and more clearly while preserving its deep black appearance. It absorbs radiant heat as well as gas.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Schott AG; Guardian Industries Holdings; Nippon Electric Glass Co. Ltd.; Glaston Corporation; Qingdao Lansen Glass Technology Co. Ltd.; Sinclair Glass; Dongguan Hongxi Glass Intelligence Technology Co. Ltd.; Ningbo Bilily Tempered Glass Products Co. Ltd.; Europtec AG; Saint-Gobain; Dr. Greiche Glass; Vetrerie Riunite Group.; Taian Saintly Glass Co. Ltd.; Kunshan Energy Glass Technology Co. Ltd.; Sanfeng Glass Co. Ltd.; Swift Glass Company Inc.; Consolidated Glass Corporation; Industriglas; Glassline; Ditto Sales Inc.; AURYS; Mid-American Glass; Jaakko-Tuote; Walshs Glass; AGC Inc.; Corning Incorporated; Pilkington Group Limited; Vitro S.A.B. de C.V.; Fuyao Glass Industry Group Co. Ltd.; Xinyi Glass Holdings Limited
Home Appliances Glass Market 2024 Key Insights:
• The home appliances glass market will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Increasing Number Of Smart Home Devices Is Anticipated To Fuel The Home Appliance Glass Market
• Innovative Solutions Drive Growth In Home Appliance Glass Market
• Asia-Pacific was the largest region in the home appliances glass market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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