Consumer Appliances Market - Intelligent and Connected Era

Consumer Appliances Manufacturers Leverage Intelligent Technologies in Line with Increasing Emphasis on Advanced Functionalities

  • 2019-07-25
  • REP-GB-10083
  • 52 Tables
  • 167 Figures
  • 383 pages
  • Format: PDF/PPT/Excel

  • US$5,000
  • US$7,500
  • US$10,000

Consumer Appliances - More Connected and Intelligent than Ever

Smart technologies are gradually taking control of homes and lifestyles, and their adoption is on the rise, backed by high functionality and convenience. As the quest for smarter lives escalates and the world moves towards artificial intelligence (AI) and 5th generation of wireless technology, consumer appliance manufacturers are embracing changes and becoming agile innovators. Keeping the core functionalities intact, manufacturers are moving away from ‘one-size-fits-all’ approach to futuristic technologies to develop appliances that can be controlled remotely or products that can self-diagnose any issues.

Fridges with cooking management system, washing machines equipped with voice control systems, and small appliances with connected and intelligent features are steadily gaining traction. In addition, manufacturers are putting significant emphasis on ‘sustainability’ as an important add-on to their marketing strategies. Future Market Insights (FMI), in its new offering, brings to fore credible insights on the ‘Consumer Appliances Market’ that can arm stakeholders with necessary information to take critical decisions with clarity.

snapshot global consumer appliances market

Consumer Appliances Market - Key Research Findings

  1. The global consumer appliances market size in 2018 was approximately US$ 339 Bn.
  2. The consumer appliances market is expected to grow at a CAGR of approx. 4% during the forecast period of 2019-2029.
  3. Basic consumer appliances continue to grow in emerging markets, while premium ones are expected to grow in developed markets.
  4. Collectively, Europe, North America, and East Asia are likely to account for half of the revenue shares in the consumer appliances industry by the end of 2029.
    • Europe, attributing to the strong presence in kitchen appliances, is expected to be a prominent product type for consumer appliances manufacturers
  5. The kitchen appliances segment is expected to remain a prominent product type to invest in for consumer appliances market players.
    • Microwave and refrigerator segments have witnessed significant growth over the recent past.
    • Noteworthy product type potential of consumer appliances has been identified in the ranges and ovens segment.

Key Factors Shaping the Consumer Appliances Market

Promotion of Green Manufacturing Appliances Boosting Market Growth

Energy-efficient and IoT enabled home appliances for example smart kitchen appliances are expected to gain traction among several end-use sectors, ranging from full domestic to quick service restaurants, owing to its operational advantage.

According to the findings of an independent report, food preparation equipment accounts for around 30% of the restaurant’s energy bill. Rising energy costs resulted in the growing consumer demand for energy star-labelled equipment. Governments of several countries are promoting green technologies, by offering schemes such as tax credit programs. The growing awareness regarding green technologies among consumers is anticipated to lead to the rapid replacement of conventional foodservice equipment over the next few years. The trend is expected to be prominent among developing regions of Asia Pacific and Latin America.

global consumer appliances market

Growing Demand for Smart Appliances Owing to its Several Advantages

The AHAM (Association of Home Appliance Manufacturers) defines smart appliances as appliances that monitor, control, and protect their electrical energy usage in response to customer needs. The appliance control and interface software might enable appliances to participate in demand response and time-based rate programs with the local utility.

Energy-saving is a significant feature in smart home appliances. For example, a refrigerator could be easily (or automatically) switched into “vacation mode,” suspending the ice maker and auto-defrost feature until the user returns.

Smart appliances have several advantages, such as low energy consumption, improved efficiency and productivity, reduction in time consumption, and others, which drives the demand for home appliances in several regions.

Rising Living Standards to Drive the Demand for Appliances

Mega trends of the increasing middleclass population in emerging economies are observed around the world, which drives the standard of living. Thus, with the growing preference to buying electronic household appliances and changing living standards of consumers, the demand for washing appliances and domestic food preparation applicances is highly likely to witness an upsurge in the near future.

With the increasing disposable income, manufacturers are expected to foresee upheaving sales in the consumer appliances market during the forecast period. Thus, for consistent growth in the sales volume, appliance manufacturers are focusing on developing products at commercial level and manipulate average selling prices to reach middle class consumers around the world.

Wide Usability of Online Sales to Boost the Market Growth

In today’s world, the online sales is growing exponentially in several segments, especially in the appliances segment, creating more opportunities for the market across the globe.

The online sales channel holds a significant amount of share in the global consumer appliances market owing to the improved connectivity, technological advancement, infrastructure development, government initiatives towards digitization, and other factors.

A significant number of people are living in rural areas across the globe. Governments of several regions are taking initiatives to provide electricity in rural areas, which creates the requirement of appliances in rural areas and drives the growth of the consumer appliances market.

Consumer Appliances Market Structure Analysis

  • The global consumer appliances market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, targeting a firmer global footprint.
  • The consumer appliances market has been relatively moderate in size, which remains a key factor for its dynamic competitive nature.
  • Prominent manufacturers of consumer appliances are currently prioritizing R&D and new product launches to resonate with the growing consumption of eco-friendly consumer appliances in North America, Europe, and China.
  • Portfolio extension is also identified to remain as one of the key developmental strategies adopted by manufacturers of consumer appliances.
  • For a strong foothold in target markets, consumer appliances manufacturers are expected to rely on inorganic strategies, such as mergers and acquisitions.

Deeper understanding of the market trends and preferential shifts of end-use segments across several regions are likely to create a bottleneck for prominent players, considering forward to untapped opportunities in the consumer appliances market.

Sales Bolstered by Increasing Urban Households and Improved Living Standards

The consumer appliances market remains primarily driven by mass urbanization along with rising standard of living among consumers. Additionally, keeping up with current trends and reinventing traditional technologies to suit the needs of today’s consumers have been essential for manufacturers. With rapid advancements in automation and IoT, consumers are inviting smart technologies into their homes at an unprecedented rate. Manufacturers are thus hard pressed to offer highly advanced products that not make lives easier and more convenient but also enable efficient use of energy. Moreover, with increasing concerns over carbon emissions from consumer appliances, manufacturers are adopting ‘green’ technologies and redesigning their product offerings to reduce running costs and help consumers achieve greater energy conservation.

An increase in stringent government regulations to reduce power consumption by consumer appliances has also been parallel to the development of high quality products with energy-saving features. However, rapid upgrades in regulations set by EU (European Union) and EPA (Environmental Protection Act) remain a key challenge for market players to meet quality and energy efficiency standards. In addition, intelligent appliances tend to collect massive information related to habits and preferences of a households, thereby raising concerns regarding privacy violations and confidentiality breaches.

Sales in Asia Pacific Market Set to Overtake North America

Many fast-growing economies in Asia Pacific have made significant policy changes that have made regulatory and business environment more conducive. The low penetration of consumer appliances in the region promises substantial opportunities for foreign players to tap into. Although North America currently leads in terms of global revenues, the world order is likely to be changed during the next decade, with massive sales in China and India pushing Asia Pacific to numero uno. Gains are also likely to be handsome in ASEAN, where the rise of a middle class demographic will create the platform for increased sales.

Tracking Future Trends and Evolving Consumer Preferences

Consumer appliances of the future are envisaged to be multi-functional that will not only be inter-connected but also interact with each other, owing to novel technologies such as IoT. Promising growth in consumer appliances market goes in hand with constant development in residential sector with a mission to advance consumers’ lifestyles. As the idea of living in a smart home is appealing to a large number of consumers, most new appliances are connected to the internet, and consequently the regulatory framework for these products is rapidly evolving. Therefore, manufacturers will need to gain a deeper understanding of data ownership and ensure a high degree of product safety and security.

International market players are attracted to developing countries where fast-growing urbanization and rising consumer spending have significantly influenced the penetration of home appliances, ranging from refrigerators to hair dryers. However, strong presence of regional players, especially those from China, India and South Korea will continue to represent a challenge to the expansion of former players. Regional as well as local players are further localizing the appliances or rallying around products that are fit for specific consumers’ lifestyles.

Kitchen appliances sales remain bullish

Demand for water purifiers to pick pace

Demand from domestic category remains significant

Demand from professional to see an uptick

Sales through offline channels grow significantly

Sale via online channels to gather pace

How Growth will Unfold

Managing personal well-being and lifestyle, home automation, and saving time and energy now spread across products such as kitchen appliances, air and water purifiers, vacuum cleaners and others. Therefore, consumer purchases of traditional as well as smart technologies have been showcasing its rise in recent years. As the consciousness of the need to protect the environment and ensure a sustainable future has been escalating across the globe, consumer appliances manufacturers are continuously working on reducing the impact of production processes and the consumption of energy. Stakeholders are further placing their focus on emerging technologies to add new value to their products and gain higher consumer satisfaction. With increasing homes which use digitally controlled appliances in developed regions and government initiatives to electrify rural areas, market stakeholders should be looking at a period of sustained demand.

 Consumer Appliances Market

* This data is only a representation. Actual data may vary and will be available in report.

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Consumer Appliances Market Analysis 2019 - 2029

A recent market study published by FMI on the consumer appliances market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters of the consumer appliances market, the growth prospects of the market are obtained with maximum precision.

Consumer Appliances Market Taxonomy

The global consumer appliances market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product Type

  • Kitchen Appliances
    • Refrigerators
    • Ranges and Ovens
    • Microwave
    • Conventional Grill
    • Dishwashers
    • Chimneys
    • Electric Stove
    • Induction Cooktops
  • Small Appliances
    • Hair Dryers
    • Irons
    • Toasters
    • Bread Makers
    • Coffee Machines
    • Grinders & Mixers
    • Food Processors
  • Washing Machine
  • Air Purifiers
  • Water Heaters
  • Water Purifiers
  • Cloth Dryers/Tumbler
  • Air Conditioners
  • Vacuum Cleaners

By End Use

  • Domestic
  • Professional
    • Hotels
    • Salon & Grooming Parlors
    • Cafeteria & Restaurants
    • Offices & Institute
    • Others

By Sales Channel

  • Offline
    • Organized Retailer
    • Unorganized
  • Offline
    • Company Direct Sales
    • Independent Vendor/E Commerce

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

What's Included

The report initiates with the executive summary of the consumer appliances market, which includes a summary of key findings and statistics of the market. It also includes the demand & supply-side trends about the consumer appliances market.

Readers can find the definition and a detailed taxonomy of the consumer appliances market in this chapter, which will help them understand the basic information about the consumer appliances market. Along with this, comprehensive information about consumer appliances and their properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the consumer appliances market report.

The consumer appliances market report provides the key market trends that are estimated to significantly impact the market growth over the forecast period. Industry developments are also provided in this section.

This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.

This section explains the overall market value forecast for the consumer appliances market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical consumer appliances market, along with an opportunity analysis of the future. Readers can also find absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019-2029). Along with this, pricing analysis of the consumer appliances market at the regional level has been provided in this section. This section also explains the global market volume forecast for the consumer appliances market between the forecast periods of 2019-2029.

This chapter explains main macro-economic factors that are anticipated to impact the growth of the consumer appliances market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the consumer appliances market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.

Based on the type, the consumer appliances market is segmented into kitchen appliance, small appliances, washing machines, air purifiers, water heaters, water purifiers, cloth dryers/tumbler, air conditioner, and vacuum cleaners. In this section, readers can find information about the key trends and developments in the consumer appliances market and market attractiveness analysis based on the product type.

This chapter provide details about the consumer appliances market based on the sales channel, and has been classified into online and offline. In this section, readers can comprehend the market attractive analysis based on the sales channel.

This chapter provides details about the consumer appliances market based on the end use, and has been classified into domestic and professional. In this chapter, readers can comprehend market attractive analysis based on the end use.

This chapter explains how the consumer appliances market will grow across several regions such as Latin America, North America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA).

This chapter includes a detailed analysis of the growth of the North America consumer appliances market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on the application and countries in North America.

This chapter provides the growth scenario of the consumer appliances market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments have been provided.

Important growth prospects of the consumer appliances market based on its end users in several countries such as Germany, the U.K., France, Spain, Italy, Russia, BENELUX, and the Rest of Europe are included in this chapter.

In this chapter, India and ASEAN countries are prominent countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia consumer appliances market. Readers can find detailed information about the growth parameters of the South Asia consumer appliances market during the forecast period of 2019-2029.

This chapter highlights the growth of the consumer appliances market in East Asia by focusing on China, Japan, and South Korea. This section also help readers understand the key factors that are responsible for the growth of the consumer appliances market in East Asia.

This chapter highlights the growth of the consumer appliances market in Oceania by focusing on Australia and New Zealand. This section also help readers understand the key factors that are responsible for the growth of the consumer appliances market in Oceania.

This chapter provides information about how the consumer appliances market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period of 2019-2029.

This section highlights the growth prospects of the consumer appliances market for emerging markets such as China, India, and Indonesia.

In this chapter, readers can find a detailed information about the market concentration and tier analysis of key players in the consumer appliances market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the consumer appliances market, along with a detailed information about each company, which includes company overview, strategic overview, revenue shares, and recent company developments. Some of the market players featured in the report are Qingdao Haier Co. Ltd., Whirpool Corporation, Electrolux AB, LG Electronics, Samsung, Arcelik A.S, Panasonic Corporation, De’Longhi SPA, Daikin Industries Ltd., Hitachi Ltd., Midea Group, Mitsubishi Electric Corporation, Gorenje Group, Vorwerk, Leibherr Group, Dyson, Fedder Corporation, BSH Haugerate, GmbH, Miele, Manitowac, Rinnai Corporation, Voltas Limited, Honeywell International Inc., and Toshiba Lifestyle Products & Services Corporation, among others.

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the consumer appliances market report.

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the Consumer Appliances market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current market dynamics and challenges
  • Yesteryear trends 
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

Secondary Research

  • Industry Publications
    • World of Consumer Appliances
    • Consumer Appliances Weekly
    • Consumer Appliances Engineering World, etc.
  • Industry Associations
    • APPLiA
    • Association of Home Appliance Manufacturers (AHAM)
    • Appliance Industry Association
    • The Association of Manufacturers of Domestic Appliances
    • White Goods Industrialists Association of Turkey (TURKBESD) 
    • AGEFE (Business Association of Electrical, Photographic and Electronic Sectors)
    • Consumer Electronics and Appliances Manufacturers Association
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

Primary Interview Splits

Primary Interview Splits consumer appliances market split by designations

Primary Interview Splits consumer appliances market split by stakeholders

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