Household Appliances Manufacturing Market Trends Include The Rise Of Smart Products
Household Appliances Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company’s Household Appliances Manufacturing Market Report - Opportunities And Strategies - Global Forecast To 2023
LONDON, GREATER LONDON, UK, May 18, 2021 /EINPresswire.com/ -- The growing popularity of smart home appliances is among key home appliance industry trends. Smart home appliances are devices which are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC) and Wi-Fi. The increased popularity of smart appliances can be attributed to the increased demand for smart homes, the rise in internet and smartphone penetration, and energy efficiency initiatives. The rise of the Internet of Things (IoT) technology also supports the development of smart appliances. Smart appliances are generally more energy-efficient than their traditional counterparts. Currently, various product categories such as washing machines, refrigerators, microwave ovens, and coffee machines are available with smart and connected features. Owing to the growth in the demand for smart home appliances, traditional appliance makers such as Whirlpool, Electrolux, GE Appliances, Miele, and BSH have acquired significant capabilities and experience in the smart appliance segment. In addition, technology companies such as Apple, Google, Microsoft, Intel, Xiaomi, and Cisco, which are not known for producing appliances, are also entering this segment. The global market for smart home appliances is growing rapidly, supporting the overall household appliances market.
The household appliances market consists of sales of household appliances by entities (organizations, sole traders and partnerships) that produce household appliances such as electric housewares, washing machines and major household appliances. The household appliances industry comprises of businesses that manufacture and sell household appliances such as microwave ovens, blenders, mixers and coffee/tea makers to end users for their personal use or domestic purposes.
Read More On The Global Household Appliances Manufacturing Market Report:
https://www.thebusinessresearchcompany.com/report/household-appliances-market
The global household appliance market size is expected to grow from $308.11 billion in 2020 to $331.57 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $436.04 billion in 2025 at a CAGR of 7%.
The global household appliances manufacturing market is segmented by type into small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment, other major household appliances.
Major competitors with home appliances market shares are Whirlpool Corporation, Haier Smart Home Co., Ltd. (Qingdao Haier Co., Ltd.), Robert Bosch GmbH, Midea Group Co., Ltd., and LG Electronics Inc.
Household Appliances Manufacturing Market - By Type Of Appliance (Small Electrical Appliances, Household Cooking Appliances, Household Refrigerators And Home Freezers, Household Laundry Equipment And Other Major Household Appliances), By Distribution, By End Customers, And By Region, Opportunities And Strategies – Global Forecast To 2023 is one of a series of new reports from The Business Research Company that provides household appliances manufacturing market overview, forecast household appliances manufacturing market size and growth for the whole market, household appliances manufacturing market segments, and geographies, household appliances manufacturing market trends, household appliances manufacturing market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
Request For A Sample Of The Global Household Appliances Manufacturing Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2121&type=smp
Here Is A List Of Similar Reports By The Business Research Company:
Household Appliances Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/household-appliances-global-market-report-2020-30-covid-19-impact-and-recovery
Global Single-Family Smart Homes Market - By Product (Home Monitoring and Security, Smart Lighting, Entertainment, Smart Appliances, Combination, Others), By Technology (Wi-Fi, Bluetooth, GSM/GPRS, RFID, Others), And By Region, Opportunities, Trends And Strategies - Global Forecast To 2030
https://www.thebusinessresearchcompany.com/report/single-family-smart-homes-market
Small Electrical Appliance Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/small-electrical-appliances-global-market-report
Electronics And Appliance Stores Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/electronics-and-appliance-stores-global-market-report-2020-30-covid-19-impact-and-recovery
Personal Goods Repair And Maintenance Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/personal-goods-repair-and-maintenance-global-market-report-2020-30-covid-19-impact-and-recovery
Interested to know more about The Business Research Company?
Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research. It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology.
Call us now for personal assistance with your purchase:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
Twitter
LinkedIn
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
