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Electric Household Appliances Market Trends

  • Report ID: GMI214
  • Published Date: Sep 2024
  • Report Format: PDF

Electric Household Appliances Market Trends

There is a growing demand for smart appliances that can connect to the internet of things (IoT) ecosystem, allowing consumers to control and monitor their devices remotely via smartphones or smart home systems. Examples include smart refrigerators that can notify users when food is about to expire, or smart washing machines that can be operated remotely. Integration with voice assistants like Amazon Alexa, Google Assistant, and Apple Siri is becoming standard in modern household appliances, enabling users to control their devices hands-free.
 

Additionally, urbanization and the trend toward smaller living spaces are driving demand for compact, space-saving appliances. Consumers are looking for products that offer multiple functions in one device, such as a washer-dryer combo or a microwave with convection and grilling capabilities. There is also a growing trend for portable and foldable appliances, especially among younger consumers and those living in smaller apartments.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The electric household appliances market was valued at USD 563.8 billion in 2023 and is estimated to grow at 8% CAGR during 2024-2032 driven by technological advancements, rising disposable income, and urbanization.

The large appliances segment in the market generated USD 271.5 billion in 2023 attributed to the increasing demand for smart and energy-efficient features.

Asia Pacific electric household appliances market held 38.3% share in 2023 and is expected to grow at 8.2% CAGR during 2024-2032 owing to the large and rapidly growing population.

LG Electronics, Samsung Electronics, Electrolux AB, Whirlpool Corporation, BSH Hausgeräte GmbH, Walton Group, Midea Group, Robert Bosch GmbH, Gree Electric Appliances Inc., Panasonic Corporation, and Hitachi, Ltd. Among others.

Electric Household Appliances Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 30
  • Countries covered: 22
  • Pages: 120
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