Global Household Appliances Market Trends And Strategies Of Major Players In The Household Appliances Market 2021-2030
14 Jun, 2021
The household appliance market consists of sales of household appliances by entities (organizations, sole traders and partnerships) that produce small electric appliances, electric housewares, and major household appliances.
Global Household Appliances Market Size And Drivers:
The global household appliances market is expected to grow from $308.11 billion in 2020 to $331.57 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $436.04 billion in 2025 at a CAGR of 7%. The rising trend of outdoor parties and cookouts on weekends and holiday is expected to drive the market for barbeques and grills in the forecast period.
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Trends In The Global Household Appliances Market
Household appliance manufacturers are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting systems minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting.
Global Household Appliances Market Segments:
The global household appliances market is further segmented based on type, application, mode and geography.
By Type: Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance
By Application: Cooking, Cleaning, Others
By Mode: Online, Offline
Sub-segments Covered: Household Type Fans, Household Type Vacuum Cleaners, Other Household Type Small Electric Appliances, Electric Stoves, Microwave Ovens, Barbecues And Grills, Other Household Cooking Appliance, Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations, Washing Machines, Ironers, Dryers, Other Household Laundry Equipment, Dishwashers, Waste Disposable Units, Water Heaters, All Other Major Household Appliance
By Geography: The global household appliances market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global household appliances market, accounting for 49% of the market in 2020.
Read More On The Report For The Global Household Appliances Market At:https://www.thebusinessresearchcompany.com/report/household-appliances-global-market-report-2020-30-covid-19-impact-and-recovery
Household Appliances Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides household appliances market overviews, analyzes and forecasts market size and growth for the global household appliances market, household appliances market share, household appliances market players, household appliances market segments and geographies, household appliances market’s leading competitors’ revenues, profiles and market shares. The household appliances market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.