The Business Research Company Global Home Appliances Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, United Kingdom, March 22, 2022 /EINPresswire.com/ — The upward trend of outdoor parties and barbecues on weekends and public holidays is expected to boost the barbecue and grilling market in during the forecast period. The rapidly changing lifestyle along with the increase in outdoor recreational 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 boost the barbecue grill market globally, which will boost household appliances. market during the forecast period.
The global home appliance market size is expected to grow from USD 502.28 billion in 2021 to USD 557.70 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The growth of the market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and closure of business activities which resulted in operational challenges. According to Home Appliances Market forecast, the market is expected to reach $818.87 billion in 2026 with a CAGR of 10.1%.
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Manufacturers in the global household appliances market are integrating LED lights into their products to minimize power consumption. LED lights require less power than CFLs or incandescent bulbs. Home 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 lights. 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 major players covered in the global home appliance industry 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 AB.
Asia Pacific was the largest home appliance market region in 2021. Western Europe was the second largest home appliance market region. Regions covered in the Home Appliances market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and South America. ‘Africa.
TBRC’s Global Home Appliances Market analysis report is segmented by Type into Small Electrical Appliance, Home Cooking Appliance, Home Refrigerator & Home Freezer, Home Laundry Equipment, Other Major Home Appliances, by Application in Kitchen, cleaning, others, by online, offline mode.
Global Home Appliances Market Report 2022 – By Type (Small Electrical Appliance, Home Cooking Appliance, Home Refrigerator & Home Freezer, Home Laundry Equipment, Other Major Home Appliance), By Application (Kitchen, Cleaning), By Mode ( online, offline) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provides Home Appliances market overview, forecasts market size and growth Household Appliances Market Overall, Household Appliances Market Segments, Geographies, Household Appliances Market Trends, Household Appliances Market Drivers, Constraints, Revenue, Profiles and Share market of the main competitors.
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