Asia-Pacific Home Appliances Market Trends

Statistics for the 2023 & 2024 Asia-Pacific Home Appliances market trends, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Home Appliances trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Asia-Pacific Home Appliances Industry

Smart Appliances are Driving 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 that will lead to smart appliances propelling the growth of the home appliances market. 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.

Asia-Pacific Home Appliances Market - Revenue of the Smart Appliances, In USD Millions, Asia, 2020 - 2022

Growth in Chinese Home Appliances Market

The Chinese home appliances market is experiencing lucrative growth due to improving disposable incomes, urbanization, and increasing consumption of white goods in rural areas. China is the fastest-growing home appliances market all over the world. Being technically advanced and relatively cheaper, many countries are importing home appliances from China. In China, there is a high replacement demand for white goods and small appliances. Whereas the major kitchen appliances market is witnessing a higher demand for new products. Premium white goods are being increasingly adopted by consumers. The refrigerator and washing machine markets are majorly supported by the trend of premiumization. The air conditioner segment dominated the Chinese home appliances market due to the high export and domestic demand for AC.

Asia-Pacific Home Appliances Market- Revenue of Home Appliances, In USD Millions, China, 2018 - 2022

Asia Pacific Home Appliances Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)