Market Size of Asia-Pacific Major Home Appliance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Major Home Appliance Market Analysis
Asia-pacific major home appliances grew at moderate rates in the past due to low per capita spending on the major appliances, therefore the market has immense potential for growth. The main driving factors are an innovation by the manufacturers in the market is driven by the rising housing stock, rising housing income, and growing premiumization across households in the region.
High brand recognition is seen in the region with companies catering to the demand by developing products according to the taste and preferences of the consumer in the developed markets. While positive growth has been observed in the developing nation due to rising income levels.
Countries in the region are within different growth stages while developed markets have entered into premiumization, multifunctional, and customized smart appliances that will further drive the growth of large appliances in the market.
