The Home Appliances Market is segmented by Product (Refrigerator, Air Conditioner & Heater, Entertainment & Information Appliances, Washing Machine, Cleaning Appliances, Cooktops, Cooking Range, Microwaves & Ovens; Others), Distribution Channel (Supermarket & Hypermarket, Specialty Stores, E-Commerce, Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
What is a home appliance?
Home appliances can be broadly classified into three categories, namely major appliances or white goods, consumer electronics, and small appliances. Major appliances are large home appliances used for regular housekeeping tasks such as washing laundry, cooking, food preservation, etc.
Key players operating in the home appliances market are-
- Haier (China)
- Whirlpool Corporation (US)
- Samsung Electronics (South Korea)
- LG Electronics (South Korea)
- Bosch (Germany)
- Sony (Japan)
- Midea (China)
- Electrolux (Sweden)
- Philips (Netherlands)
- Panasonic Corporation (Japan).
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.
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