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The Europe Home Appliances Market is segmented by Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, and Cookers and Ovens, Other Major Appliances), Small Appliances (Vacuum Cleaners, Coffee Machines, Irons, Toasters, Grills and Roasters, and Hair Dryers, Other Small Appliances), and by Distribution Channel (Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels) and by Country (Germany, Poland, France, Italy, Rest of Europe).
The European region is experiencing low-interest rates and a good economic situation, with consumers showing interest in products in the home appliance market. The products in this market include not only major household appliances, like large cooking appliances and refrigeration appliances, but also small household appliances, such as small cooking appliances and vacuum cleaners. The introduction of multifunctional products is one of the key trends being witnessed in the household appliances market in Europe. The growing demand for innovative and advanced products driven the demand for and popularity of multifunctional household appliances in Europe. The multifunctionality of products not only delivers their basic features but also derives the highest value from the amount spent on a single product. One of the key factors contributing to the growth of the household appliances market in Europe is product innovation and portfolio extension leading to product premiumization. The Western European markets follow the growing trend that sees consumers in the home appliance market focusing on premium appliances. Multifunctional appliances with the premium price (for example wash dryer, hobs with integrated hoods, or combi-steam ovens) are strong in demand and generate value growth. The Eastern European countries, like Poland and Hungary, were at the forefront of development in the region for the market. Germany held the largest share of the market in Europe, the growth in the country is attributed to the significant lifestyle changes among consumers in the country.
A complete background analysis of the European home appliances market, which includes an assessment of the national accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview.
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The number of smart households in the EU is expected to increase tenfold in the upcoming years. The annual revenue from energy managing in smart households in Europe is also expected to double in the coming years. Around 15 million people in Europe are using smart home appliances to meet their needs.
The European smart home appliances market is witnessing high growth. Factors, such as the soaring need for energy-efficient appliances and demand for comfort, coupled with high expenditure capability of end-users, are driving the market growth.
European legislation made appliances, like washing machines and dishwashers, more water- and energy-efficient than washing clothes and dishes by hand.
Some of the key driving factors behind the fast adoption and growth rate of smart home appliances in the European market include universal access to high-speed internet, introduction of smart meters, energy efficiency and energy savings, and favorable EU policies to support the digital economy in Europe. Another important reason behind the rising demand for smart home appliances is a tech-savvy young age group in Europe, as 37% of the Europeans who have embraced the new technology are between 25 and 34 years old.
The smart appliances sector in Europe is also heavily contributing to R&D of these products, with Germany, Italy, and Poland in the top position of countries investing in innovation.
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Washing machines are one of the essential home appliances for residential purposes. The washing machine market continued its substantial growth in 2018 in Europe. The market is mainly driven by rapid urbanization, the rising household disposable income, and changing consumer preferences. Technological advancements that make washing machines more energy-efficient and eco-friendly are also facilitating the sales of washing machines in the region. Poland, known as the white goods manufacturing hub in Europe, is also one of the top washing machine manufacturers and washing machine suppliers in the world. As washing machine demand increases, the market for washing machines in Poland is expected to flourish in the future.
The sales of tumble dryers developed positively throughout the region. In Eastern Europe, fewer homes are equipped with tumble dryers than in Western Europe. Therefore, further above-average growth can be expected in this segment in the upcoming years.
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The home appliances market in Europe is moderately concentrated, with the presence of many international and regional companies that offer major household appliances and small household appliances. Companies operating in the household appliances market in Europe continuously engage in R&D and innovation to exist in the competitive market environment. This is due to the growing competition and increased customer demand for innovative products. The major product innovations introduced are in terms of technology, performance, features, and design. Customers also look for household appliances that can perform multiple tasks with minimal resources.
1.1 Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS and INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.7 Insights into Imports and Exports (Detailed Analysis of Imports and Exports by Product and Country)
4.8 Government Regulations and Initiatives
4.9 Technology Innovations in the Industry
4.10 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION AND MARKET SIZE
5.1 By Product
5.1.1 By Major Appliances
220.127.116.11 Dishwashing Machines
18.104.22.168 Washing Machines
22.214.171.124 Cookers and Ovens
126.96.36.199 Other Major Appliances
5.1.2 By Small Appliances
188.8.131.52 Vacuum Cleaners
184.108.40.206 Food Processors
220.127.116.11 Coffee machines
18.104.22.168 Grills and Roasters
22.214.171.124 Hair Dryers
126.96.36.199 Other Small Appliances
5.2 By Distribution Channel
5.2.1 Exclusive Stores
5.2.2 Multibrand Stores
5.2.4 Other Distribution Channels
5.3 By Country
5.3.5 Rest of Europe
6. Competitive Landscape
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Arcelik AS
6.2.2 Robert Bosch GmbH
6.2.3 Candy Group
6.2.4 De'Longhi SpA
6.2.5 Gorenje Group
6.2.6 LG Electronics
6.2.7 AB Electrolux
6.2.8 Qingdao Haier Co. Ltd
6.2.9 Samsung Electronics Co. Ltd
6.2.10 Whirlpool Corporation
6.2.11 Liebherr Group
6.2.12 Panasonic Corporation
6.2.14 Koninklijke Philips
6.2.16 Daikin Industries Ltd
7. FUTURE OF THE EUROPE HOME APPLIANCE MARKET
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