Home Appliances Market: Global Industry Analysis and Forecast 2021-2026

by Matt Easterlin on Nov 25, 2022 Finance 118 Views

The report entitled; “Home Appliances Market Trends, Dynamics, and Analysis,” recently published by Stratview Research offers a comprehensive outlook of the industry. This report by Product (Refrigerator, Air Conditioner & Heater, Entertainment & Information Appliances, Washing Machine, Cleaning Appliance, Cooktop, Cooking Range, Microwave & Oven; Others), By Distribution Channel (Supermarket & Hypermarket, Specialty Stores, E-Commerce, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026.

Market Dynamics

Rising technological developments, rapid urbanization, significant growth in the housing sector, rise in per capita income, and better living standards are some of the key factors boosting the market growth. Also, the surge in need for comfort in household chores and change in consumer lifestyle toward energy-efficient and eco-friendly appliances further augment the product demand. Moreover, favorable government initiatives for energy-efficient appliances in developed economies offer immense growth opportunities to the industry players.

Segment Analysis

Product Trends

Based on product, the home appliances market is classified into the refrigerator, air conditioner & heater, entertainment & information appliances, washing machine, cleaning appliance, cooktop, cooking range, microwave & oven; and others. The refrigerator segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Refrigerators are generally operated continuously throughout the year. It has become a vital part of a household and is one of the first appliances, which is purchased once the household income reaches an adequate level, further bolsters the segment growth. 

Regional Trends

By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a rise in household income, increase in the middle-class population, rapid urbanization, easy access to consumer finance, easy access to goods through the development of retail channels, and change in lifestyles of the population, further proliferates the regional market growth.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, or to cover analysis on any particular geography or segment, please send your inquiry at sales@stratviewresearch.com or +1-313-307-4176.

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Stratview Research is a growing market research firm. Experts here illustrate innovative, descriptive, and comprehensive insights through market research to satisfy your individual and organizational objectives. We assist the users to make well-informed, profound and favourable decisions to comprehend the advantages of forthcoming trends, developments, assessments, and opportunities through our precise understanding of the market.

Article source: https://article-realm.com/article/Finance/32133-Home-Appliances-Market-Global-Industry-Analysis-and-Forecast-2021-2026.html

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