Major Home appliances market to surge $85.39 billion (2023-2028) due to increased consumer income, per Technavio

    NEW YORK, NY, December 15, 2023 /24-7PressRelease/ -- Explore the rapid growth of the Major Home Appliances Market with Technavio's recent report, projecting a substantial increase in market size by USD 85.39 billion at a CAGR of 4.2% during the forecast period. Gain insights into the market's evolution and seize the opportunity to purchase the report now.

Discover the global major home appliances market's surge driven by heightened consumer discretionary income. This financial upturn empowers consumers to invest more in cutting-edge and premium household appliances, resulting in increased sales. The escalating disposable income worldwide elevates annual household expenses, fostering a heightened demand for these products. Elevate your understanding of the major home appliances market by obtaining our market sample report for detailed analysis.

The APAC region plays a pivotal role in the market's expansion, propelled by a burgeoning middle-class population experiencing increased income levels, leading to amplified spending on household appliances. Additionally, APAC's market growth is fueled by the ongoing urbanization and lifestyle shifts among regional inhabitants.

Technavio sheds light on key trends in the Major Home Appliances Market:

The surge in smart and connected appliance adoption, fueled by rising consumer purchasing power and the popularity of modular kitchens, is reshaping market dynamics.
Smart appliances, offering remote control through mobile apps for real-time updates on appliance status, cater to convenience, generating high demand.
Integration with mobile apps and interfaces reduces daily human effort through temperature monitoring and control, contributing significantly to the forecasted global market growth of smart home appliances.
Dive into the market segmentation by Product (Refrigerators And Freezers, Washing And Drying Appliances, Heating And Cooling Appliances, and Cooking Appliances), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, South America, and Middle East And Africa).

Anticipate substantial growth in the offline segment, encompassing sales through specialty stores, department stores, hypermarkets, supermarkets, convenience stores, and clubhouse outlets. Despite a decline in offline channel sales due to the shift towards online shopping, the offline segment is expected for significant growth.

Major players in the Major Home Appliances Market, including General Electric Co., Fujitsu General Ltd., and Samsung Electronics Co. Ltd., are driving market dynamics. For comprehensive information on companies and their offerings, download our sample report.

Technavio predicts a significant expansion in the Major Home Appliances Market, fueled by rising consumer income, technological advancements, and regional trends such as increased urbanization and lifestyle changes. Overcome challenges related to fluctuating raw material prices and operational costs by downloading our latest free sample report, unveiling successful business strategies deployed by key market players in minutes.

Related Reports:

Smart Refrigerator Market: The smart refrigerator market size is estimated to grow at a CAGR of 15.1% between 2022 and 2027. The market size is forecasted to increase by USD 3,513.88 million.

Smart Home Appliances Market: The smart home appliances market is estimated to grow at a CAGR of 14.45% between 2022 and 2027. The size of the market is forecast to increase by USD 39.91 billion.

TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Product
7. Market Segmentation by Distribution Channel
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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