The Business Research Company Global Home Appliances Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, United Kingdom, November 24, 2021 /EINPresswire.com/ – The upward trend of outdoor parties and barbecue grills on weekends and holidays is expected to drive the barbecue and grill market during the forecast period. Rapidly changing lifestyles and increasing outdoor recreational activities will increase the demand for barbecue machines and grills. The barbecue market in Europe is expected to reach $ 5.98 million by 2026. The increase in access to unique camping sites and the increase in adventure camping, coupled with the increase in disposable income , will boost the barbecue market globally, which in turn will boost the household appliance market during the forecast period.
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Home appliance manufacturers incorporate LED lights into their products to minimize energy consumption. LED lights require less power than CFL or incandescent bulbs. Home appliance manufacturers are focusing more on introducing products with LED lighting for minimal power consumption and better visual appearance. For example, GE’s LED refrigerator lighting systems minimize energy consumption by 80% compared to halogen lamps. The company has introduced products such as French door coffee fridges and streamlined wall ovens with this lighting. For example, Philip Electronics NV, Osram Opto, Digital Lumens Inc, and Cree Corporation are among the major companies manufacturing LED lighting.
Asia-Pacific was the largest region in the world home appliance market, accounting for 49% of the market in 2020. Western Europe was the second largest region, accounting for 19% of the global home appliance market. Africa was the smallest region in the global home appliance market.
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The global home 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 driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the shutdown of business activities that have resulted in operational challenges. The market is expected to reach $ 436.04 billion in 2025 at a CAGR of 7%.
Major players in the global home appliance industry are Samsung Electronics, Panasonic Corporation, Whirlpool Corp, Bosch Gmbh, LG Electronics Inc.
TBRC Global Home Appliances Market report is segmented by Type into Small Electrical Appliance, Home Cooking Appliance, Household Refrigerator and Freezer, Household Laundry Equipment, Other Major Home Appliance, by Application in Kitchen, Cleaning, others, by online, offline mode.
Global Household Appliances Market Report 2021 – By type (small electrical appliance, household cooking appliance, household refrigerator and freezer, household laundry equipment), by application (kitchen, cleaning), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company which provides Home Appliances market overview, Home Appliances market size and growth forecast for the entire market, Home Appliances market segments and geographies, Home Appliances market trends home appliances, home appliance market drivers, restraints, revenue, profiles and market share of major competitors.
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Here is a list of similar reports from the trade research company:
Home Appliance Manufacturing Market – By Appliance Type (Small Electrical Appliances, Household Cooking Appliances, Household Refrigerators and Freezers, Household Laundry Equipment, and Other Major Household Appliances), and by Region, Opportunities and Strategies – Global Forecast until 2023
Global Household Cooking Appliances Market Report 2021 – By Product (Electric Ranges, Microwaves, BBQs & Grills, Others – Household Cooking Appliances), By Application (Household, Commercial), By Fuel Type (Gas kitchen, electricity), COVID-19 impact And Recovery
Global Household Laundry Equipment Market Report 2021 – By Type (Washing Machines, Ironers, Dryers), By Technology (Automatic, Semi-Automatic / Manual), By Distribution Channel (Direct Selling, Retail, E-Commerce ), COVID-19 impact and Recovery
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