Home Household appliances Global Home Appliances Market Report 2022

Global Home Appliances Market Report 2022



Major companies in the market are Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., LG Electronics, Qingdao Haier Co. Ltd., Daikin Industries Ltd, Whirlpool Corp, Midea Group co ltd, Robert Bosch GmbH, Apple, and Electrolux . A B.

New York, March 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Household Appliances Global Market Report 2022” – https://www.reportlinker.com/p06247437/?utm_source=GNW

The global home appliance market is expected to grow from $502.28 billion in 2021 to $557.70 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $818.87 billion in 2026 with a CAGR of 10.1%.

The household appliances market consists of sales of household appliances by entities (associations, sole proprietorships and general partnerships) that produce small household appliances, household appliances and large household appliances.

The main types of household appliances are small electrical appliances, household cooking appliances, household refrigerators and freezers, household laundry equipment and other major household appliances. Household laundry equipment refers to machinery and equipment which includes residential laundry equipment such as washing machines and dryers.

The devices work in online and offline mode and are used for cooking, cleaning and other applications.

Asia Pacific was the largest home appliance market region in 2021. Western Europe was the second largest home appliance market region.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising trend of outdoor parties and barbecues on weekends and holidays is expected to drive the barbecue and grill market during the forecast period. The rapidly changing lifestyle along with the increase in outdoor leisure activities will increase the demand for barbecues and grills.

The European barbecue market is expected to reach $5.98 million by 2026. Rising access to unique camping sites and rise in adventure camping, coupled with rising disposable income, will drive the barbecue market globally which will drive the household market. devices during the forecast period.

Growing demand for online on-demand laundry services is expected to restrain the household washing machine market over the forecast period. The on-demand laundry services market is expected to be aided by steady economic growth predicted in many developed and developing countries.

The International Monetary Fund (IMF) said global real GDP growth was 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue growing slightly faster. rapidly than developed markets during the forecast period. . For example, China is expected to register GDP growth of 6.2% in 2019. Steady economic growth, increasing internet penetration and increasing disposable income, coupled with a hectic lifestyle, will lead to an increase in services on-demand laundry, thereby shrinking the market for household washing machines.

Appliance manufacturers are integrating LED lights into their products to minimize power consumption. LED lights require less power than CFL or incandescent bulbs.

Appliance manufacturers are focusing more on introducing products with LED lighting for minimum power consumption and improved visual appearance. For example, GE’s LED refrigerator lighting systems reduce energy consumption by 80% compared to halogen lamps.

The company has launched products such as cafe French door refrigerators and streamlined wall ovens with this lighting. For example, some of the major companies manufacturing LED lighting include Philip Electronics NV, Osram Opto, Digital Lumens Inc, and Cree Corporation.

The countries covered in the Home Appliances market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway , Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06247437/?utm_source=GNW

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