Global Household Appliances Market
Worldwide Household Appliances Market
Finished Date: TBD Report ID: 6001 Category: Industry Research Report
Main household appliances by product type include cooking appliances, refrigeration, laundry machines, home comfort, and others.
The global household or home appliances market is a multi-billion dollar industry, lead by big brand names such as Haier Electronics, Whirlpool and Electrolux. While it is the Chinese manufacturer Haier Electronics that edges ahead of the rest in the global market, within the U.S. market it is the American owned company Whirlpool that enjoys the greatest share of the local household appliances market.
The world household appliances market was affected adversely by the financial crisis starting in 2008 and weak consumer spending on durable goods since then. However, the continuous revenue decline through 2011 seemed reaching the bottom and recovery has been facilitated by improvements in underlying demand from disposable income growth in recent years.
GMD predicts that global household appliances market to see a moderate growth throughout 2020 and beyond, registering a ~5% CAGR over the coming years. Despite a small segment in the industry, the home comfort sector holds the best potential to grow at the fastest rate. The major driving forces of the global household appliances market include increase in working class population, consumer spending and personal disposable income, new product development due to continuous innovation, and expanding urbanization in some countries or regions. Strongest growth will be seen in fast-growing economics such as China, India, and Latin American countries.
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