Market Trends of China Major Home Appliances Industry
This section covers the major market trends shaping the China Major Home Appliances Market according to our research experts:
Increasing Usage of Smart Appliances is Driving the Market
Smart appliances are connected to smartphones or tablets for better controlling of appliances remotely, which can bring new levels of convenience, efficiency, safety, and peace of mind to life. With the ongoing consumption upgrade in China, consumers are showing a preference for intelligent, and personalized products.
Major home appliance manufacturers are launching smart home appliances, such as air conditioners, refrigerators, and washing machines, by applying the most sophisticated artificial intelligence and internet of things technologies to innovate products. Smart appliances are energy efficient, easily accessible, safe, and secure.
Growth in Disposable Income is Driving the Major Home Appliance Market
Disposable income is the total earnings a household makes that are available to save or spend after taxes have been paid. Increased disposable incomes are forecast to continue driving demand for major home appliances. Improved lifestyle and rise in buying power of consumers are the major impacts of high disposable income.
Consumers use disposable income to make their living conditions better and simpler. Growth in disposable income is projected to boost the penetration of major home appliances, thereby driving China's major home appliance market growth.
