Switzerland Home Appliances Market Size

Switzerland Home Appliances Market Analysis

The Switzerland Home Appliances Market size is estimated at USD 1.51 billion in 2024, and is expected to reach USD 1.86 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).

The Swiss home appliances market has a lot of room to grow if it meets the changing needs of consumers.Due to the benefits of multi-use and energy-saving products, people started choosing them over regular ones.Replacement sales in the region are going up because products are becoming more innovative and can be made to fit individual needs.The high disposable income levels of individuals are another major factor that is allowing the manufacturers to sell their products in larger numbers even in a saturated market. Switzerland is one of the few countries with a high employment rate, which stands at 76.90%.

During the advent of COVID-19 at the end of the year 2019, as most people were restricted to their homes, the time spent by people in their residences increased. With this trend, sales of both big and small appliances saw an increase in sales and income.In the year 2019, revenue from major appliance sales was USD 0.57 billion and increased to USD 0.67 billion in 2021, similar to minor appliance sales, which increased from USD 0.6 billion in 2019 to USD 0.87 billion in 2021.

As people's disposable incomes continue to rise, they are able to spend more on the things they want. R&D investments and product innovation are increasing to capture the dynamic behavior of consumers. Manufacturers are investing heavily in disruptive innovation, innovating on the size of products, and going further into value-added services for the products. The major innovation that is being added to most home appliance products is connectivity, in line with the increasing interest in the Internet of Things (IoT) concept.