Sweden Home Appliances Market Size
|2020 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2020 - 2022
|> 4.00 %
*Disclaimer: Major Players sorted in no particular order
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Sweden Home Appliances Market Analysis
The Sweden home appliances market generated revenue of USD 1.5 billion in the current year and is poised to achieve a CAGR of 4% for the forecast period.
Most manufacturers, especially those of large household appliances in Sweden, had significant problems due to supply chain interruptions brought on by the swift spread of COVID-19 worldwide. Some of the main difficulties most industry players encountered included limited component availability, labor constraints, and other supply chain-related problems.
Customers were driven to reevaluate their priorities, modify their purchasing habits, and adopt new routines. According to numerous statistics, consumers increasingly purchased appliances online as they adopted social distancing. The epidemic affected consumers' purchasing decisions for bigger home appliances, including refrigerators, stoves, dishwashers, dryers, and others. DIY hobbies, including cooking, sewing, decorating, and arts and crafts, grew popular among stay-at-home mothers.
The market will expand due to various growth drivers, including an increase in single-person households, an increment in disposable income, a rise in the number of smart homes, and the growth of the millennial population. The growth in online sales of small household appliances and increased demand for smart sensors and energy optimization drives the market.
Cloud technology, rising artificial intelligence technology, accelerating Internet of Things (IoT) adoption, increasing social media influence, and introducing innovative small household appliances will contribute to Sweden's market growth.
Sweden Home Appliances Market Trends
Online Retailing Includes A Greater Potential For Market Growth.
Sweden is one of the most technologically advanced countries, and its consumers include a high level of e-commerce maturity. Sweden's consumers are among the most technologically savvy and affluent consumers in the world and are also the top users of eCommerce in Europe. According to ecommerceDB's 2021 annual Country Report for Sweden, there were 8 million users and an 80% penetration rate for eCommerce in Sweden.
According to the annual survey of Swedish eCommerce conducted by payment provider Nets in 2021, the total amount spent on eCommerce in Sweden increased by 10% from around USD 20.3 billion in 2020 to USD 22.3 billion in 2021.
Most sales are driven by domestic store-based retailers in Sweden's home appliance sector. However, online retailing is gradually increasing year over year. Many international firms are working to close the gap even though the region is difficult to enter due to the population's extreme nationalism. With their aggressive price tactics and chances for rapid and same-day shipping, international manufacturers are attempting to enter the Swedish market.
Small Kitchen Appliances With High Quality Standards Are Capturing A Sizable Market Share.
Even though the major home appliances segment generates more revenue, the small appliances segment contributes the most to volume sales. Small appliances typically come with a shorter lifespan than larger ones and easily persuade customers to upgrade to newer models more frequently. Small kitchen appliances contain the highest sales volume in the small home appliances segment. Manufacturers are constantly attempting to capture this market by tailoring their products to Swedish interior design preferences, such as keeping them bright yet light in weight with sleek designs. Customers are also interested in products with advanced technology and connectivity features.
Sweden Home Appliances Industry Overview
The report includes an overview of the top players in the Home Appliances Market operating across Sweden, such as Panasonic Corporation, Whirlpool Corporation, LG Electronics, Samsung Electronics, and Electrolux AB. The Sweden home appliance industry is moderately consolidated and includes many local and regional players. Government partnerships and highly skilled labor boost the competitiveness of companies manufacturing large appliances in Sweden. Sweden comprises a high pool of skilled labor willing to work in the manufacturing sector, providing a cost advantage to the country.
Sweden Home Appliances Market Leaders
*Disclaimer: Major Players sorted in no particular order
Sweden Home Appliances Market News
January 2023: Liebherr-Hausgeräte GmbH launched the first vacuum perlite refrigerator. Liebherr is revolutionizing technology in its fridges and freezers, using a vacuum with finely ground lava stone, the raw material perlite, to insulate its appliances. The first vacuum perlite model, named BluRoX.
December 2022: LG Electronics (LG) unveiled the new LG InstaView French-Door refrigerator at CES 2023. They were helping users create a more stylish kitchen that sits flush with the cabinetry and enjoys an upgraded culinary life. The new counter-depth model offers large capacity and a simple yet elegant built-in design featuring a mirror InstaView panel and unobtrusive pocket handles. It also provides four different types of ice and keeps food fresh for longer with LG's advanced freshness technologies.
April 2022: OctoFrost Group, a globally recognized manufacturer of food processing equipment, launched Innovative Multi-Level Impingement Freezer.
Sweden Home Appliances Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
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 Value Chain Analysis
4.5 Industry Attractiveness: Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Insights on Various Regulatory Trends Shaping the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Major Appliances
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Cookers and Ovens
5.2 By Small Appliances
5.2.1 Vacuum Cleaners
5.2.2 Small Kitchen Appliances
5.2.3 Hair Clippers
5.2.6 Grills and Roasters
5.2.7 Hair Dryers
5.2.8 Other Small Appliances
5.3 By Distribution Channel
5.3.1 Supermarkets and Hypermarkets
5.3.2 Specialty Stores
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Whirlpool Corporation
6.2.2 Electrolux AB
6.2.3 LG Electronics
6.2.4 Samsung Electronics
6.2.5 Panasonic Corporation
6.2.6 Haier Electronics Group Co. Ltd,
6.2.7 BSH Hausgeräte GmbH
6.2.8 Arcelik AS
6.2.9 Gorenje Group
6.2.10 Mitsubishi Electric Corporation*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Sweden Home Appliances Market Research FAQs
What is the current Sweden Home Appliances Market size?
The Sweden Home Appliances Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Sweden Home Appliances Market?
Panasonic Corporation, Whirlpool Corporation, LG Electronics, Samsung Electronics and Electrolux AB are the major companies operating in the Sweden Home Appliances Market.
What years does this Sweden Home Appliances Market cover?
The report covers the Sweden Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Sweden Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sweden Home Appliances Industry Report
Statistics for the 2024 Sweden Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sweden Home Appliances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.