SAN FRANCISCO, September 24, 2021 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Home Electrical Appliances – Global Market Trajectory and Analysis”. “. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
FACTS AT A GLANCE
Editing: 16; Published: April 2021
Executive Pool: 22759
Companies: 151 – Players covered include AB Electrolux; GE appliances; SEB Group; Haier Group; Hamilton Beach Brands Inc.; Hitachi Appliances Inc.; Garden Consumer Solutions; LG Electronics; Miele & CIE, KG; Mitsubishi Electric Corp. ; Panasonic Corp.; Samsung Electronics Co., Ltd. ; Whirlpool Corp. and others.
Cover: All major geographies and key segments
segments: Category (Major household appliances, Small household appliances); Product segment (washing machines, refrigerators, air conditioners, irons, vacuum cleaners, coffee makers, toasters, blenders, microwave ovens, can openers (electric), blenders, food processors, water heaters (electric) , range hoods, other product segments); Distribution channel (Specialized store, Supermarket & Hypermarket, E-Commerce, Other distribution channels)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global home appliance market to reach 1.7 billion units by 2026
Amid the COVID-19 crisis, the global home appliance market estimated at 1.4 billion units in 2020 is expected to reach a revised size of 1.7 billion units by 2026, growing at a CAGR of 3.2% over the analysis period. Major household appliances, one of the segments analyzed in the report, is expected to register a CAGR of 3.6% and reach 999.8 million units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the small household appliances segment is readjusted to a revised CAGR of 2.7% for the next 7-year period.
The US market is estimated at 389.3 million units in 2021, while China is expected to reach 344.6 million units by 2026
The home appliance market in the United States is estimated at 389.3 million units in 2021. China, the world’s second largest economy, is expected to reach a projected market size of 344.6 million units by 2026 growing at a CAGR of 5.9% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 0.9% and 2.4% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 1.6%. After
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving over 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for over 33 years.
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