Australia Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Home Appliances Market Analysis
The market has generated a revenue of more than USD 5 billion in the current year and is poised to achieve a CAGR of more than 2.0% for the forecast period.
The Australian home appliances market offers a steady and promising growth, owing to factors, like rapid rise in the current population, which is leading to the rapid growth of real estate to accommodate the rising population. This is leading to innovation in either new products for the new homes or replacement sales for the existing appliances in the market. The day-to-day changing technology is trying to cope with the dynamic needs of customers. Technological advancements, ie., the innovations that the manufacturers bring into product improvement, are boosting the market for replacement sales. The high younger customers group prefers product designs, considering the attractiveness the product holds, the ease of operation, automation, and customization it holds, along with the multi-utility of the product. With the changing environmental conditions, customers also prefer the energy and water-efficient appliances for their homes.
By capturing millennials' interest and understanding their preferences, manufacturers are trying to invest higher amounts in innovation. The digital moving world is enhancing the growth of the online sales ratio higher than ever before in this region. The home appliances market in Australia holds a greater scope for online purchases too. The e-commerce penetration, the virtual reality tours, and the online stores offering explains the interest that manufacturers or marketer showing imply the importance that companies are giving to customer satisfaction.
Australia Home Appliances Market Trends
Increasing Smart Appliances Penetration is Driving the Market
Manufactures are giving greater importance to dynamic changes that are occurring in the consumer's preferences. Innovation in product development, adoption of the latest technology, such as the Internet of Things (IoT) and Artificial intelligence (AI), are driving the market. The smart homes concept, increasing popularity for digital connectivity of all the appliances, and AI and IoT functionalities on appliances connected through the internet are key elements that the customers are looking forward to. Diminishing levels water reserves across the world are shaping the market for washing machines with low water utilization.
E-commerce Platforms are Driving the Market
There is a great scope for an increase in online-based sales of home appliances. The growth of the e-commerce sector is expected to be supported by rising internet penetration and smartphone use. This increase in E-commerce can drive the electronics sales such as home appliances and other domestic appliances. The rising urbanization and modernization are further driving the growth of e-commerce.
Australia Home Appliances Industry Overview
The report covers major players operating in the Australia home appliances market. The Australian home appliances market is a saturated market, with a low chance for newcomers to enter, unless they make a huge change in the products they offer. The market is highly competitive, with many players competing with each other in the way they serve the customer base. Some key players in the market are Whirlpool Corporation, Electrolux AB, LG Electronics, Samsung Electronics, and Panasonic Corporation.
Australia Home Appliances Market Leaders
Whirlpool Corporation
Electrolux AB
LG Electronics
Samsung Electronics
Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
Australia Home Appliances Market News
- In May 2023, POSCO Holdings Inc. and LG Electronics Inc. announced that they will collaborate to upgrade POSCO's smart factory technology. The initiative will involve the integration of robotics, artificial intelligence (AI) and wireless communication technologies.
- In November 2022, Whirlpool Corp. has announced that it is taking steps toward making smart appliances work more harmoniously in home ecosystems by announcing support for Matter, the gold standard of smart home connectivity.
Australia Home Appliance Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Online Retail is Driving the Market
4.2.2 Increasing Disposable Income is Driving the Market
4.3 Market Restraints
4.3.1 Changing Customer Preferences and Lifestyle
4.3.2 Saturation in the Market with the Technology Used in the Appliances
4.4 Market Opportunities
4.4.1 Multi functional Appliances are a Good Growth Opprtunity in the Market
4.4.2 Smart Home Technology Is an upcoming Opprtunity in the Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovations in the Market.
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Ovens
5.1.6 Air Conditioners
5.1.7 Other Major Appliances
5.2 Small Appliances
5.2.1 Coffee/Tea Makers
5.2.2 Food Processors
5.2.3 Grills & Roasters
5.2.4 Vacuum Cleaners
5.2.5 Grills & Roasters
5.2.6 Other Small Appliances
5.3 Distribution Channel
5.3.1 Multi-brand Stores
5.3.2 Exclusive Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Haier
6.2.2 Westinghouse
6.2.3 Samsung Electronics
6.2.4 LG Electronics
6.2.5 Bosch
6.2.6 Hisense
6.2.7 Kelvinator
6.2.8 Electrolux
6.2.9 Miele
6.2.10 Panasonic Corporation*
- *List Not Exhaustive
7. FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Australia Home Appliances Industry Segmentation
A home appliance is referred to as a domestic electrical appliance that will assist in household work and ease human efforts. A complete background analysis of the Australia home appliances market report includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview. The Market is Segmented by Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Ovens, Air Conditioners, and Other Major Appliances), Small Appliances (Coffee/Tea Makers, Food Processors, Grills and Toasters, Vacuum Cleaners, and Other Small Appliances), and Distribution Channel (Multi-brand Stores, Exclusive Stores, Online, and Other Distribution Channels). The report offers market size and forecasts for the Australia Home Appliances Market in value (USD million) for all the above segments.
| Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Ovens | |
| Air Conditioners | |
| Other Major Appliances |
| Small Appliances | |
| Coffee/Tea Makers | |
| Food Processors | |
| Grills & Roasters | |
| Vacuum Cleaners | |
| Grills & Roasters | |
| Other Small Appliances |
| Distribution Channel | |
| Multi-brand Stores | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
Australia Home Appliance Market Research FAQs
What is the current Australia Home Appliances Market size?
The Australia Home Appliances Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Australia Home Appliances Market?
Whirlpool Corporation, Electrolux AB, LG Electronics, Samsung Electronics and Panasonic Corporation are the major companies operating in the Australia Home Appliances Market.
What years does this Australia Home Appliances Market cover?
The report covers the Australia Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Australia Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Home Appliances in Australia Industry Report
Statistics for the 2024 Australia Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Home Appliances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
