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The Latin American Home Appliances Market is Segmented by Product into Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, and Cookers and Ovens), Small Appliances (Vacuum Cleaners, Small Kitchen Appliances, Hair Clippers, Irons, Toasters, Grills and Roasters, and Hair Dryers), and by Distribution Channel (Departmental Stores, Specialty Stores, Online, and Other Distribution Channels).
Despite being dominated by large countries such as Brazil, the Latin American region has countries with significant differences. Growth in the home appliances market is driven by the increased disposable income of households, with demand clustered on basic cookers, refrigerators, and washing machines. The growth in Latin America’s middle-class population will further drive growth and bring opportunities for the home appliances market. However, the low saving ratio in the country may bring in some challenges for the growth of the market.
Brazil accounts for around half of the total Latin American market for appliances. Other major markets include Mexico and Argentina. Latin America is a highly urbanized region for a developing market. Brazil's economy grew moderately in 2019, as consumption decreased for household appliances in the market, despite slashed credit rates. Smart technology and voice activation continued to drive the market of appliances. In the small appliances segment, light fryers and multi-cookers are gaining popularity among consumers.
Home appliances in Mexico continued to grow positively despite the uncertain economic environment. Growth in major appliances was ahead in terms of volume sales rise than small appliances. However, overall sales of small appliances outnumbered major appliances.
Consumption of home appliances in Argentina has been affected by economic situations. In April 2018, the peso was devalued which increased prices in the country. To overcome this effect, the government has launched a program for its citizens to purchase goods on credit cards with drop-in interest rates by 20 basis points. Small appliances were one of the focus of the policy that included toasters, blenders, kettles, etc.
A complete background analysis of the Latin American 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.
|By Distribution Channel|
|Other Distribution Channels|
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Declining inflation rates, along with low credit rates, are driving the growth of the refrigerator appliances market in Brazil through which consumers have easy and free access to these appliances. Growth in the type of small households, along with the rise in the number of rented houses in urban cities of Brazil, has brought a structural shift in the preference of customers.
Lucrative innovations, such as French Door Family Hub black freezers, arrived in the Brazilian market in mid-2019. Companies are thus innovating to meet the demand of consumers, by including energy-efficient products in their portfolio. Moreover, new products introduced in the market are also taking into consideration smart features consumers to control and monitor what is there inside the fridge and also control them using remotes according to the changes in climate.
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Latin America is going through a crucial stage in terms of internet retailing. The positioning of international marketplaces and the development of own established retailers’ platforms have increased sales of these products offering better prices and payment facilities.
E-commerce is becoming the fastest-growing distribution channel in the Mexican market for the home appliance industry. The majority of homes in Mexico are now connected to the internet with consumers getting more and more connected to the digital world. High penetration of mobile phones and digital signage are other factors that are leading to the growth of these platforms.
Digital mediums are utilized by companies to effectively promote their products and services in order to attract the target audience in the market. Customers are also becoming more and more environmentally and cost-conscious and demanding sustainable eco-friendly appliances. Companies are thus spending on innovating products that save energy, water, and gas by preserving natural resources.
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The Latin American home appliance market is moderately consolidated and dominated by international players. These companies rapidly innovate and launch new designs in the market in order to remain competitive supported by their global presence and huge revenues worldwide that they invest in further R&D.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Value Chain Analysis
4.3 Porter's Five Forces Analysis
4.4 Insights into Customs Duties for Home Appliances
4.5 Insights into Setting up Home Appliances Manufacturing Plants
4.6 Insights into Consumer Expenditure on Household Goods and White Goods
4.7 Insights into Imports and Exports (by Product and Country Over the Last Five Years)
4.8 Major Players' Strategies in Production and Sales
4.9 Government Regulations and Initiatives
4.10 Technology Innovations in the Industry
5. MARKET DYNAMICS
6. MARKET SEGMENTATION
6.1 By Product
6.1.1 By Major Appliances
184.108.40.206 Dishwashing Machines
220.127.116.11 Washing Machines
18.104.22.168 Cookers and Ovens
6.1.2 By Small Appliances
22.214.171.124 Vacuum Cleaners
126.96.36.199 Small Kitchen Appliances
188.8.131.52 Hair Clippers
184.108.40.206 Grills and Roasters
220.127.116.11 Hair Dryers
6.2 By Distribution Channel
6.2.1 Departmental Stores
6.2.2 Specialty Stores
6.2.4 Other Distribution Channels
7. COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 LG Electronics
7.2.2 Panasonic Corporation
7.2.3 AB Electrolux
7.2.10 Groupe SEB
8. FUTURE OF THE MARKET AND ANALYST RECOMMENDATIONS
9. INVESTMENT ANALYSIS
11. ABOUT US
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