Market Size of Europe Major 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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Europe Major Home Appliances Market Analysis
The European Major Home Appliances market has achieved a revenue of USD 51.62 Billion and is poised to grow at a CAGR of less than 3% during the forecast period.
Major home appliances include a fridge, microwave ovens, water heater appliances, and dishwashers. Major home appliances hold a major share of the household appliances market in Europe. Growing competition and increased consumer demand for innovative products are expected to drive the growth of the major home appliances market in Europe. The product innovations introduced are in terms of technology, performance, features, and design. Customers also look for home appliances that can perform multiple tasks with minimal resources. Thus the growing demand for innovative and advanced products has driven the demand for and popularity of multifunctional home appliances in Europe. The growing purchasing power, increasing disposable income among customers, and changing style trends in home appliances have propelled the demand for home appliances market in Europe.
As the COVID-19 pandemic continued to challenge public health, it has also abruptly affected economies, society, and people's lives in Europe. With many people confined to their homes, working remotely and home-schooling, interest in appliances and consumer electronics has risen. It is vital that new appliances bought during and after the pandemic are as efficient as possible to outpace higher ownership patterns and avoid increased energy consumption levels after the crisis.
