Market Trends of Canada Home Appliances Industry
Small Home Appliances are Dominating the Sales Volume of the Market
- Small home appliances, like vacuum cleaners, coffee makers, toasters, hairdryers, curlers, kettles, steam units, and fryers, are less affected by the imbalanced financial situation when compared to large appliances, like refrigerators, washing machines, dryers, freezers, dishwashers, and microwave ovens.
- The market for these small home appliances is expected to increase, owing to factors like affordable prices, their lower presence rate in the market, the improving innovation and automation they hold, and the perfection they bring to the job.
- These products ease people's lives by taking a huge load off the working population (around 66.12%), which comforts consumers by minimizing the time they spend on their respective tasks. Multi-utility appliances are catching the attention of consumers more than regular appliances, which have limited utility.
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Multi-Utility and Technically Advanced Appliances Grabbing a Higher Portion of the Market Share
- The rise in disposable income and increasing urbanization are paving the way for multifunctional, technologically advanced, smart, and connected appliances, as consumers prefer to transform their homes into a place where they can monitor their appliances, even when they are away from them.
- Appliances that can be operated through different types of connectivity have been gaining popularity over the past few years, and this trend is expected to continue in the forecasted period as well.
