Electric Household Appliances Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The term "electrical appliance" refers to gadgets that use electricity to fulfil specified tasks. Refrigerators, wine coolers, washing machines, tumble dryers, vacuum cleaners, steam mops, shavers, trimmers, and water heaters are among the appliances available, as are air conditioners, air coolers, heaters, fans, rice cookers, bread makers, toasters, irons, and juicers. Furthermore, various companies all around the world make and sell such appliances, giving clients a wide variety of choices. During the projected period, the global electrical appliances market is predicted to develop at a moderate rate. This growth rate, on the other hand, will be unevenly distributed around the globe.

MARKET SCOPE

The "Global Electric household appliances Market Analysis to 2031" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the electric household appliances market with detailed market segmentation product type, and geography. The report provides key statistics on the market status of the leading electric household appliances market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on product type, the global electric household appliances market is segmented air conditioners, refrigerators, cooking appliances, and cleaning appliance.

MARKET DYNAMICS

Drivers:

• Rise in disposable incomes and growth of organized retail sector
• Technological advancements
• Advertising and promotions by players
• Energy efficiency measures in North America

Restraints

• Instability of exchange rates, inflationary pressures, and poor export performance are further straining major households with growing financial burdens.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric household appliances market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the electric household appliances market in these regions.

IMPACT OF COVID-19 ON ELECTRIC HOUSEHOLD APPLIANCES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the electric household appliances market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from electric household appliances market are anticipated to lucrative growth opportunities in the future with the rising demand for electric household appliances in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electric household appliances market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Haier Corporation
• Whirlpool Corporation
• AB Electrolux
• Gree Electric Appliances, Inc.
• Robert Bosch GmbH
• General Electric Company
• Hitachi, Ltd.
• LG Corporation
• Panasonic Corporation
• Samsung Electronics Co., Ltd.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Electric Household Appliances Report Scope