In 2020, the global Home Appliances market size was US$ 92990 million and it is expected to reach US$ 141950 million by the end of 2027, with a CAGR of 6.4% during 2021-2027. The increase in replacement sales in developing regions is expected to boost the home appliance market size.
Global home appliances market main players include Koninklijke Philips, SEB, Midea, JS Global, Panasonic, etc., totally accounting for about 26%. North America is the largest market, with a share of about 35%. As for the types of products, it can be divided into small household appliances for personal life, small household appliances for daily use, kitchen catering small appliances and bathroom appliances. Kitchen catering small appliances is the largest segment, holding a share of over 43%. In terms of sales channels, it is widely used in online sales and offline sales. The most common application is in online sale, taking a share over 78%.
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Major home appliances spans a variety of devices comprising refrigeration appliances, home laundry appliances, dishwashing appliances, air-conditioning appliances, large and small cooking appliances.
This study analyzes the market position of the Home Appliance Industry, market size, growth rate, potential trends, market factors, opportunities and challenges, risks and barriers to entry, distribution channels, distributors, and Porter’s Five Forces Analysis.
Home Appliances Market Segment Review
The refrigerator segment is expected to hold most of the home appliance market share during the forecast period. This is because the refrigerator has become an important part of the household and is one of the first appliances to be purchased after the household income has reached an acceptable amount.
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Top Major key players in the Home Appliances Market
Home Appliances Market by Type
o Washing Machines
o Air Conditioner
o Kitchen Appliances
Home Appliances Market by Application
o Offline Sales
o Online Sales
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This release was published on openPR.