Market Size of Brazil Home Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Home Appliances Market Analysis
The market has generated a revenue of more than USD 20 billion in the current year and is poised to achieve a CAGR of more than 3.0% for the forecast period.
The emerging middle class and an increase in the customer's purchasing power parity are expected to drive the market. Though Brazil's fluctuating economic uncertainty has made customers to be highly selective about their purchasing decisions, the technologically advanced product categories offered by the key manufacturers such as Whirlpool, Electrolux, LG, etc., are attracting customers in a large scale. The demand for multi-functional products than single utility products is on the rise in Brazil along with the growing demand for less energy and water-conserving appliances.
The sales volume of the small appliances is on the rise, owing to their shorter lifespan, and, in most cases, consumers are more willing to exchange their small appliances for a newer model. Even with a moderate internet penetration rate which was more than 70% in current year, the online channel of distribution is low and accounts for approximately more than 10%, owing to the high preference given to physical retail stores by the consumers. The number of customers who prefer to check for different appliances online to decide what they should purchase is high in the country.
