Title: Home Appliances Market Report, COVID 19 Impact, Size, Share, Trend
Analysis, Forecast 2019 to 2028
Report Description:
A home appliance, also referred to as a domestic appliance, an electric appliance or a household
appliance, is a machine which assists in household functions such as cooking, cleaning and food
preservation. Collectively, their effect on industrial society has been to eliminate the drudgery and
drastically reduce the time long associated with housekeeping and homemaking. The trend toward
using automatic and powered household implements to ease basic housekeeping chores, once
established, soon extended into such additional fields as personal hygiene and grooming. Household
appliances can be distinguished into three categories small appliances, major appliances and
consumer electronics. Major appliances are huge home appliances which are used for housekeeping
tasks and for optimizing the room conditions which includes temperature fluctuations, washing
clothes, cooking and others. They are acquired with connections such as plumbing, electrical, gas
and ventilation arrangements which further reduces the mobility of these appliances. Small
appliances or semi-portable machines are basically used on various platforms such as table-tops and
counter-tops. Some of these appliance’s examples are humidifiers & de-humidifiers, blenders, air
purifier, iron, cloth steamers, coffee & kettle electric and others. Consumer electronic devices
consist of communications, entertainment devices along with house office activity systems for
example music system, TVs, computers and others. They are available readily in the market through
different distribution channels like the newly popular and reliable e-commerce, speciality stores etc.
Get Free Sample Report for More Industry Insights:
https://www.axiommrc.com/request-for-sample/11048-home-appliances-market-report
HOME APPLIANCES MARKET DYNAMICS
Growth in technological advancements, rising per capita income, surging need for comfort in
households’ sectors, changing consumer lifestyle, enhanced living standards, fast urbanization along
with increasing housing sector and the escalating number of small households are the major factor
driving the growth of the market. The market is considerably driven by trends such as effectiveness,
diversity, sustainability, and elegant design and smart functionality of home appliances. Various
advanced technologies have upsurged the development of home appliances and is anticipated to
drive the market in the near future. Smart appliances supply with various advanced features and are
known to be more energy efficient. Consumers generally purchase home appliances as they provide
ease with less efforts and also saves time. These factors led to the market growth. Furthermore,
innovation of products, differentiation of products along with implementation of various valueadded features are anticipated to increase the market demand over the forecast period of home
appliances. Moreover, the market is forming new trends in terms of efficient energy and
sustainability which further untangles various households’ tasks. In addition, inclination of
consumers toward eco-friendly & energy-efficient appliances further boosts the market growth.
Moreover, factors, such as government initiatives for energy-efficient appliances across the U.S. and
several EU countries, are expected to facilitate the adoption of energy efficient appliances in the
recent years. Attractive offers by online retailers, power innovation for AI-driven gadgets, and
significant investments towards the acquisition and product development are growth opportunities
for the market.
COVID 19 IMPACT ON HOME APPLIANCES MARKET
This pandemic has disrupted the supply chain of the home appliances and consumer electronic
brands. The Covid induced lockdown forced population to stay at home. The shutdown of the
production in China forced other consumer electronics makers based in the United States and
Europe to temporarily hold the production of the finished goods which led to an increase in the
supply and demand gap. The lockdown gave an opportunity for e-commerce market to grow at an
unprecedented rate. It also changed the shopping habit of people. While they were hesitant earlier
to buy products online, they now do the same in the blink of an eye supported by offers, discounts
and other attractive conditions provided by the companies. Continuance of work from home culture
and lectures/classes being conducted online supported the demand of goods that enhance
convenience at home, such as refrigerators, electric cooking appliances, washing machines and ACs.
This growth was primarily driven by pent up demand and the festive season in Q3FY21 in particular
aided the growth.
One of the major sales point of home appliances are small retails stores and supermarkets. While big
players were not much impacted, the impact of the COVID-19 crisis on the retail sector tends to be
heterogeneous and depend on the combined effect of certain characteristics. First, the effect of
social distancing measures on individual retail businesses depended on whether they are deemed
essential. Second, lockdowns and social distancing measures affect retailers with physical stores
more than online retailers. Consumer preference more towards ecommerce reduced the footfall at
other supermarkets and small retail stores.
HOME APPLIANCES MARKET SEGMENTAL OVERVIEW
The report analyses of the home appliances market based on product type, distribution channel and
by geography.
HOME APPLIANCES MARKET BY PRODUCT TYPE
By product type, the global home appliances market is segmented into major appliances, small
appliances and consumer electronics. Of the major appliances also known as white goods,
refrigerator segment is one of the major segments due to the availability of smart and energyefficient refrigerator units, the growing disposable income, and the widening base of nuclear
families. Refrigerators are known to be easy, safe and convenient way to safe and preserve food and
various food products. Single door refrigerators are the highly used door types as they are cost
effective, very easy to use. The French door refrigerators are also gaining popularity due to ease of
usage and advanced features introduced in these refrigerators. Moreover, key players are inventing
new models that have less impact on the environment. Stopping the usage of old refrigerators and
regular services are likely to lessen toxic emissions which further reduces environmental pollution.
Small appliances are portable or semi-portable machines, generally used on table-tops, counter-tops
or other platforms, to accomplish a household task. They are used in various tasks such as beverage
making, cleaning, cooking, lightning, or thermal comfort. With the increased population and now
more than ever trend of nuclear families, these small appliances find extensive applications. The
number of coffee drinkers in the world is constantly increasing and so the coffee makers are one of
the most bought items among the small appliances. They accounted for US$12,189.4m in 2021 and
in global comparison, most revenue is generated in the United States (US$3,816m in 2021).
Consumer electronics or home electronics are electronic (analog or digital) equipment intended for
everyday use, typically in private homes. They are for leisure and entertainment rather than purely
practical tasks and include devices used for entertainment, communications and recreation.
Compact discs were one of the most popular product in the past which is now being comfortably
taken over by modern television sets which come with exciting technological advancements such as
connections to internet via Wi-Fi, Bluetooth, and Ethernet etc. The energy consumption of consumer
electronics increases – in America and Europe – to about 50% of household consumption, if the term
is redefined to include home appliances such as refrigerators, dryers, clothes washers and
dishwashers.
HOME APPLIANCES MARKET BY DISTRIBUTION CHANNEL
The home appliances market by distribution channel is classified into e-commerce, supermarket &
hypermarket, specialty stores, others. The e-commerce segment is expected to be a major player of
the market over the forecast period due to a boom in the penetration of smartphones, tablets and
laptops. The unfortunate lockdown has had a major impact on the growth of the e-commerce sector.
As lockdowns became the new normal, businesses and consumers increasingly went digital,
providing and purchasing more goods and services online, raising e-commerce’s share of global retail
trade from 14% in 2019 to about 17% in 2020. Furthermore, specialty store segments is expected to
dominate the market in the near future due to consumer preferences in analyzation and evaluation
of the product before purchasing procedure. This is due to various products associated with high
financial and safety benefits.
The retail sector is of paramount importance across OECD countries. It operates as a gateway to
consumers from upstream sectors, accounts for almost 5% of GDP, and employs about 1 in 12
workers. COVID-19 has dramatically disrupted the sector. Consumers tend to shift to e-commerce
due to factors such as, the effect of social distancing measures on individual retail businesses
depending on whether they are deemed essential, and lockdowns and social distancing measures
affecting retailers with physical stores more than online retailers.
HOME APPLIANCES MARKET BY GEOGRAPHY
Geographically, the home appliances market is studied across the countries of key regions such as,
North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America,
and Middle East & Africa. The North American market is further categorized into US, Canada and
Mexico, the European market into Germany, France, Italy, Spain, UK, and Rest of Europe, while the
Asia Pacific market is classified into China, India, Japan, South Korea and Rest of APAC. North
America is considered to be the homogenous market for the household appliances along with high
product penetration. The demand for household appliances is dominated due to replacement of
products. European market is experiencing increment due to their good economic situation and low
interest rates. The market is observing a growth in demand for premium integrated appliances which
includes flexible induction hobs, implemented hob extractors also built-in dishwasher among others.
The market for home appliances in the Asia-Pacific region is largely dominated by regional brands,
including Haier, Midea, Gree, Hisense from China; Samsung, and LG from Korea; Panasonic, Sharp,
and Hitachi from Japan; and Videocon from India. The smart appliances market in Asia-Pacific is
expected to grow at a rapid rate. Developed countries like Japan, Singapore, Hong Kong are
expected to register an increase in the sales of smart appliances, mostly owing to the rising energy
and labor costs, the high purchasing power of consumers, and greater awareness about smart cities
and smart integrated appliances. China has the highest demand for conventional air conditioners, by
volume, across the globe, owing to government policies that favor energy-saving appliances, a
growing property market, and hot weather.
HOME APPLIANCES MARKET KEY PLAYERS
Some of the major players operating in this market include, Qingdao Haier Co., Ltd. (Haier), AB
Electrolux, SEB, Midea Group Co., Ltd. (Midea), Sharp Corporation (Sharp), Hitachi Ltd., LG
Electronics Inc. (LG), Samsung Electronics Co. Ltd, Panasonic Corporation (Panasonic), Videocon,
Robert Bosch GmbH and Whirlpool Corporation.
Browse More Details Report:
https://www.axiommrc.com/product/11048-home-appliances-market-report
About Us:
Axiom Market Research & Consulting™ is a full-service market research and data analytics company
providing key market intelligence to global companies to take informed business decisions
pertaining to their marketing strategy, investments, new product launches, market competition,
consumer or end users, social media trends etc.
Axiom Market Research & Consulting™ offers market research services such as syndicated market
research, custom market research, business consulting, and consumer/end user surveys. Under
Business to Consumer (B2C) market research offerings, Axiom MRC assists its clients in finding
quantitative information/preferences of its brands and services such as, awareness, usages,
satisfaction, tracking, ethnicity etc. Axiom MRC offers data collection services through online
surveys, social media, data processing and interpretation.
Axiom MRC with its experienced team of research and data analysts, has delivered more than 5000+
Market Research Projects, 3800+ Data Analytics Projects, 1200+ Business Support Projects and has a
800+ Global Client Base. Axiom Market Research & Consulting™ aims to become the preferred
market research and data Analytics Company by providing key market intelligence solutions for
client’s business growth.
Contact Us:
Axiom Market Research & Consulting™
3 Germay Dr. Ste 4 - 4666
Wilmington DE 19804
U.S.:- + 1 (845) 875-9786
U.K.:- + 44 (0) 20 3286 9707
Email: sales@axiommrc.com
Website: https://www.axiommrc.com/
Follow On
LinkedIn: https://www.linkedin.com/company/axiom-market-research-and-consulting/
Twitter: https://twitter.com/AxiommrcCom