Market Trends of Europe Major Home Appliances Industry
Growth in Smart Appliances is Driving the Market
Smart home appliances include refrigerators, air conditioners, dishwashers, washing machines, and others. These smart appliances have a huge growth potential especially in major European markets including Belgium, France, Ireland, the UK, Austria, Finland, Denmark, Germany, the Netherlands and Sweden. Factors such as the rising need for energy-efficient appliances, and demand for comfort, coupled with high spending capability of end-users is driving the demand for home appliances. The main driving factor 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.
Germany is Dominating the Europe Major Home Appliances Market
Germany is the most important producer of home appliances in Europe. The market has witnessed growth in the major household appliances sector prominently. The factors responsible for the growth of major home appliances in Germany are due to the improving lifestyles of consumers, improvement in purchasing power, and migration of the rural population to the urban areas. The home appliances market in Germany is extremely competitive and fragmented due to the presence of both multinational and local players across the country.
