Global kitchen appliances market has witnessed growth despite the economic slowdown across some of the major economies after the 2009 recession, Eurozone crisis. However, Australia has remained relatively immune to these challenges, but has experienced an economic stagnation of its own which affects a number of markets, including home and kitchen appliances.
The market for home appliances in Australia is, in large part driven by kitchen appliances. The Australian market is characterized by new market creation inward from the west coast, rapid urbanization and increasing purchasing power across all income classes, in this developed economy. The appliances market in Australia is characterized by intense competition between US based and South Korea, Japanese and Chinese brands. US based manufacturers like Electrolux and Whirlpool dominate in premium kitchen appliances, while other Asian brands maintain market share across other mass market categories. Kitchen appliances include large appliances like refrigerators, dishwashers, microwaves and ovens, gas stoves, chimneys, and smaller appliances like juicers/mixers, coffee and tea makers, toasters, air fryers, and non-cooking small items like kettles, knives, scales, graters, etc.
The Australia market for kitchen appliances was worth US$ X.X bn as of 2014, and is expected to grow to US$ X.X bn by 2020, growing at a CAGR of X.X% over the forecast period. Small appliances are expected to grow at a CAGR of X.X% from US$ X.X bn in 2014 to US$ X.X bn in 2020. Large appliances are worth US$ X.X bn as of 2014, and are expected to grow at CAGR X% to US$ X.X bn in 2020.
Specialty super markets offering attractive discounts by leveraging economies of scale as well as tie ups with manufacturers are vying for market space with online retail, which is giving brick and mortar stores tough competition with attractive discounts and bundles online. Customers touch and feel the products in showrooms, but go online to buy products with higher discounts. However, distribution is still controlled by 5 major retailers.
The latest trend in home appliances, including kitchen appliances is that of energy efficiency, and connectivity in line with IoT (Internet of Things), wherein most appliances can be remotely controlled, or are equipped with sensors designed to auto manage the appliances. Smart appliances, as they are called, alone are expected to drive this category ahead to achieve higher growth rates. With new and other houses going through refurbishing, kitchen appliances can be chosen to fit the size of the kitchen. The appliances are equipped with frills, or are available without frills across several price ranges.
Some notable companies included in the report are Electrolux, GE, Panasonic, Samsung, Murphy Richards, Phillips, Bosch, Hamilton, and Australia origin brand, LG, which is the market leader in Australia.
Attractive and aggressive marketing tactics across mass market and premium segments, incremental innovations across product classes, discount and credit schemes are some of the drivers of this market.
Stagnation of the economy, reduction in new/replacement product purchases, intense competition are some of the challenges of this market.
What the report offers
1. Research Methodology
2. Executive Summary
3. MARKET OVERVIEW
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's 5 Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat from new entrants
3.3.4 Threat from substitute products
3.3.5 Competitive rivalry within the industry
3.4 Industry Policies
4. MARKET DYNAMICS
4.2.1 Demand for appliances in End User Market
4.2.2 Changing Lifestyle
4.3.1 Lack Of Expertise
4.3.2 Dominance of Traditional Kitchen
4.4.2 Changing Consumer Behavior
5. Australia Kitchen Appliances Products Market Segmentation, Forecasts and Trends
5.1 By Products
5.1.1 Electric Steamers
5.1.2 Water Purifier
5.1.3 Micro Oven
5.1.5 Air Fryer
5.1.6 Induction Stoves
5.2 By Distribution Channel
5.2.1 Direct Selling
6. Vendor Market Share Analysis
7. Competitive Intelligence - Company Profiles
7.1.2 Products and Services
7.1.4 Key Developments
7.2 Murphy Richards
7.2.2 Products and Services
7.2.4 Key Developments
7.3.2 Products and Services
7.3.4 Key Developments
7.4.2 Products and Services
7.4.4 Key Developments
7.5.2 Products and Services
7.5.4 Key Developments
7.6.2 Products and Services
7.6.4 Key Developments
7.7.2 Products and Services
7.7.4 Key Developments
7.8 Eureka Forbes
7.8.2 Products and Services
7.8.4 Key Developments
7.9.2 Products and Services
7.9.4 Key Developments
7.10 LG Corp
7.10.2 Products and Services
7.10.4 Key Developments
8. Investment Analysis
8.1 Recent Mergers and Acquisitions
8.2 Investment Scenario and Opportunities
9. Future of Australia Kitchen Appliances Products Market
LIST OF TABLES