Global Home Appliance Market - Snapshot

The outlook for the wet and cold appliance market looks positive. Comparatively better economies across all the regions, with improvement in lifestyle, families, and more disposable income are some of the main economic drivers of growth in the wet and cold appliance market. Consumers nowadays are preferring energy efficient wet and cold appliances. There are several reasons attributed to the positive outlook in the wet and cold appliance market, energy efficiency is one of the main reason.

While increasing the appliance performance, energy efficient appliances reduces energy consumption. The main reason for growth in adoption of wet and cold appliances would be owning a relatively intelligent, smart, and energy efficient appliance. Reduced energy and water consumption of major appliances is one of the key drivers for the growth of the wet and cold appliance market across regions. Energy efficiency programs are encouraging upgrade purchases of such appliances. Several companies are deploying energy efficient technologies to reduce high energy consumption by avoiding unexpected inrush of current.

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Nowadays customers are becoming more technology oriented, prefering appliances which are more technological advanced as it makes life easier. Constant product innovations and technological advancements in the design of wet and cold appliances such a washing machines, refrigerators and others have led to the development of advanced washing machines that rises comfort levels and convenience of users. Companies such as LG are coming up with more advanced and innovative features.

For instance, features in washing machines such as smart control, auto optimal wash smart diagnosis, smart nudges, etc. have been launched by LG Electronics, Samsung, and Whirlpool. Such rapid technological advancements would help users across the region to experience better washing machines in the coming years. Additionally, in the world of refrigerator, Samsung and LG have usually been the leader in the refrigerator technology and innovation.   

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Digitalization plays a vital role in enhancing consumer power. Digitalization also gives considerable opportunities to develop increasingly advanced products such as connected products. In addition, connectivity and digitization enable companies to better understand the consumers and to tap into new business models. Several companies such as LG and Samsung are getting ahead of the smart technologies revolution by offering products including smart washing machines and smart refrigerators. Companies are offering more technologically advanced products in order to serve consumers better and make their life simpler due to shift of consumers toward digitization. For instance, the latest model of LG's refrigerator has a 29-inch Windows 10 surface computer to make the screen transparent, so consumers can see inside the fridge.

On the basis of type, the market has been segmented into dishwasher, cloth dryer and domestic refrigerator. Washing machine segment accounted for major market share in 2018 and expected to maintain its dominance in coming years.

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In the global wet and cold appliance market, Asia Pacific held the largest market share in the year 2018. Adoption and usage of wet and cold appliances such as domestic refrigerator and washing machine is high in the region also demand is high for smart wet and cold appliance market such as smart refrigerators and smart washing machine in this region during the forecasted period. Wet and cold appliances in Europe has reached the targeted growth phase. Owing to a strong product pipeline and well-established portfolio management approach. The market positions are strong in the built-in, in most of the geographies. North America wet and cold appliance market has significant growth owing to demand for smart wet and cold appliances and owing to early technology adopters. However, wet and cold appliance market in the region such as Middle East and Africa and South America is still in the growing phase due to less adoption and insufficient innovations in the mass market product range.

Key players profiled in the global wet and cold appliance market report are

  • AB Electrolux
  • Videocon Industries Ltd.
  • Haier Group Company
  • LG Electronics
  • Philips Electronics
  • Whirlpool Corporation
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Sharp Corporation
  • Sub-Zero Wolf
  • Daewoo Electronics Corporation
  • Samsung.

A new study on the global home appliances market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global home appliances market. TMR’s study offers valuable information about the global home appliances market to illustrate how the market would grow during the forecast period, 2019–2027.

Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global home appliances market during the forecast period.

An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global home appliances market. This can help readers understand principal factors to foresee growth in the global home appliances market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global home appliances market, which is expected to guide market players in making apt decisions in the future.

Key Questions Answered in TMR’s home appliances Market Study

  • What are the key factors influencing the home appliances market in each region?
  • What will be the CAGR of the global home appliances market between 2019 and 2027?
  • What is the future scope and changing trends in technologies used in the global home appliances market?
  • Which factors are expected to impede the growth of the global home appliances market during the forecast period?
  • Which are the leading companies in the global home appliances market?

Research Methodology – Home appliances Market

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global home appliances market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts for the global home appliances market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, service managers, CEOs, VPs, and market intelligence managers who contributed to the production of TMR’s study on the home appliances market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from home appliances industry leaders. Access to an extensive internal repository and external proprietary database allows this report to address specific details and questions about the global home appliances market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global home appliances market more reliable and accurate.

The global home appliances market has been segmented as below:

Global Wet and Cold Appliance Market, by Type

  • Dishwasher
    • Built-in Standard Dishwasher
      • Drying with Ventilation
      • Drying Without Ventilation
    • Countertop Dishwasher
      • Drying with Ventilation
      • Drying Without Ventilation
    • Drawer Dishwasher
      • Drying with Ventilation
      • Drying Without Ventilation
  • Cloth Dryer
    • Vented
    • Condenser
  • Washing Machine
    • Front Loading
    • Top Loading
  • Domestic Refrigerator
    • Top Freezer
      • Static Cooling
      • Dynamic Cooling
    • Bottom Freezer
      • Static Cooling
      • Dynamic Cooling
    • Side-by-side
      • Static Cooling
      • Dynamic Cooling
    • Built-in
      • Static Cooling
      • Dynamic Cooling
    • Compact
      • Static Cooling
      • Dynamic Cooling

Global Wet and Cold Appliance Market, by Geography

  • North America
    • Wet and Cold Appliance Market, by Type
    • Wet and Cold Appliance Market, by Country/Region
      • U.S.
      • Canada
      • Rest of North America
  • Europe
    • Wet and Cold Appliance Market, by Type
    • Wet and Cold Appliance Market, by Country/Region
      • Germany
      • United Kingdom
      • France
      • Spain
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Wet and Cold Appliance Market, by Type
    • Wet and Cold Appliance Market, by Country/Region
      • China
      • India
      • Japan
      • Indonesia
      • Rest of Asia Pacific
  • Middle East & Africa
    • Wet and Cold Appliance Market, by Type
    • Wet and Cold Appliance Market, by Country/Region
      • UAE
      • Saudi Arabia
      • South Africa
      • Rest of Middle East & Africa
  • South America
    • Wet and Cold Appliance Market, by Type
    • Wet and Cold Appliance Market, by Country/Region
      • Brazil
      • Rest of South America

Segmentation of the Home appliances Market

TMR’s study on the global home appliances market includes information categorized into two sections ?by type, and region.

Type

Dishwasher

Cloth Dryer

Domestic Refrigerator

Region

North America

Europe

Asia Pacific

Middle East & North Africa

South America

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Wet Cold Appliance Market

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