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Asia Pacific Home Appliances Market - Growth, Trends & Forecasts (2020 - 2025)

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The Asia-Pacific home appliances market has been estimated at USD XX.XX billion in 2016 and is projected to reach USD XX.XX billion by 2021, growing at a CAGR of XX.XX% during the forecast period from 2016 to 2021. Technological innovation has contributed towards improving the standard of living of people across the world.

Developing nations dominate the market in the Asia-Pacific region. Rising disposable incomes and rapid urbanization along with innovative and attractive advertising by manufacturing companies have created a potentially disruptive market environment in the APAC region. The surge in the urban population and the middle-class families has led to low-priced appliances dominating the market, with consumers willing to experience the comforts of technology available in the market. The high price of the certain essential products has led to slowing the growth but the low-priced manufactured products from China have dominated the market and helped it strengthen its hold in the home appliances market in the APAC region.

The Chinese brands lead by volume, although the American brands are recording high growth in premium categories in India, China, etc. A high rate of urbanization is contributing to growth in these markets. Chinese and Korean manufacturers hold a considerable market share in the Asia-Pacific region, with energy efficiency becoming a priority for consumers. Eco-friendly inventions are going to be of primary importance in the shaping of the home appliance market in this region.

The Asia-Pacific home appliances market has been segmented on the basis of products into kitchen appliances (electrical ranges, microwaves, cooktops, and others), refrigeration appliances (refrigerators, freezing systems, and others), washing appliances (washing machines, washer dryer, dryers, steam iron devices, and others), room comfort (air conditioners, room heaters, ceiling fans, dehumidifier, and others), water heater appliances (storage tank water heaters, solar water heaters, gamma electric iron rods, and others), cleaning appliances (vacuum cleaners, dishwashers, and others), and entertainment appliances (televisions and others), with kitchen appliances being expected to be the fastest growing sector. Changing consumer preferences and innovative credit schemes along with the replacement sales pave the way for smarter appliances to replace the conventional devices and this is going to stimulate the growth of the market.

The current trend of smart homes is encouraging the use of smart appliances in home designing, with people willing to invest in a completely connected home that can be easily operated. Big players in the market are investing in R&D to come up with smart applications, propelling the growth of the home appliances market. The market has also been segmented on the basis of the distribution channel into direct selling, supermarkets, specialty stores, e-commerce, departmental stores, and others. Though supermarket and departmental stores have been a favorite for the consumers, e-commerce is expected to be the fastest-growing distribution channel during the forecast period. The high internet penetration rates in the Asian subcontinent are a significant factor driving the growth of e-commerce as potentially the largest platform for the sales of home appliances.

The market has been further segmented on the basis of countries into China, India, Japan, South Korea, Australia, and others. The market is dominated by China, with India showing promising growth due to the rapid rise in the urban population in the country. The expanding middle-class population in Japan and Australia also contributes to the growth of the market.

The report considers key trends that will impact the industry and profiles leading companies with majority market share in the Asia-Pacific home appliances market.

Some of the major players in the home appliances market mentioned in the report are:

  • AmicaWronki S.A.
  • Arcelik A.S
  • Candy Group
  • Defy Appliances (Pty) Ltd.
  • Electrolux AB
  • Godrej Group
  • Gorenje Group
  • Haier Electronics Group Co. Ltd.
  • LG Electronics
  • Panasonic Corporation
  • Samsung Electronics
  • Whirlpool
  • Viking Range, LLC

What the Report Offers

  • Market definition for the Asia-Pacific home appliances market, along with identification of key drivers and restraints.
  • Market analysis for the Asia-Pacific home appliances market, with region-specific assessments.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
  • Identification and analysis of the macro and micro factors that affect the Asia-Pacific home appliances market on both global and regional scale.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

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