Home Appliance Market Will Reach USD 282150 Million By 2028 With A CAGR of 4.4% - Valuates Reports

India - English

News provided by

Jul 13, 2022, 12:00 ET

BANGALORE, India, July 13, 2022 /PRNewswire/ -- Home Appliance Mar ket is segmented by Type - Refrigerators, Washing Machines, Air Conditioner, Kitchen Appliances, Others, by Application - Offline Sales, Online Sales. Global Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Home Appliances Category.

The global Home Appliance market size is estimated to be worth USD 217910 million in 2022 and is forecast to be a readjusted size of USD 282150 million by 2028 with a CAGR of 4.4% during the review period.

Major factors driving the growth of the home appliance market are

Increased technological development, rapid urbanization, housing market expansion, rise in per capita income, improved living standards, the surge in demand for comfort in household chores, shift in consumer lifestyle, and rise in the number of smaller households are the main factors propelling the global home appliance market.

Additionally, customer preference for eco-friendly and energy-efficient appliances contributes to the home appliance market expansion. In addition, factors like government programs for energy-efficient appliances are anticipated to make it easier for people to adopt them in the coming years.

Browse The Table of Contents And List of Figures At https://reports.valuates.com/market-reports/QYRE-Auto-1992/global-home-appliance

TRENDS INFLUENCING THE GROWTH OF THE HOME APPLIANCE MARKET

The rapid increase in the standard of living is expected to drive the growth of the home appliance market. The rapid industrialization and rise in disposable money have made comfort and convenience necessary. Everyday time is saved by electrical devices like refrigerators and washing machines. Pushing a button has made labor-intensive tasks simple. During the anticipated period, these factors are anticipated to increase demand for the home appliance market.

Appliance buyers and manufacturers are both interested in buying energy-efficient appliances. The use of programmable thermostats, granular monitoring sensors, and digital inverter compressors by manufacturers allows them to transform their goods from energy-guzzlers to energy-efficient appliances. Thus the increase in adoption of the energy-efficient appliance is expected to increase the growth of the home appliance market.

Furthermore, technological advantages are expected to fuel the home appliance market growth. Many regulations and initiatives have been implemented to promote improvements in home appliances as countries focus on lowering the amounts of carbon emissions. In addition to requiring eco-design and energy labeling of appliances in the majority of countries, the EU has set minimum energy standards. Vendors have been spending money on developing mobile-controlled appliances. Appliances like air conditioners and space heaters may be easily monitored with the Internet of Things (IoT). By analyzing trends of energy consumption and changing the temperature setting accordingly, IoT makes it simpler to reduce energy waste.

Another innovation that is popular right now is the integration of all kitchen appliances into modular kitchens. Families want built-in kitchen appliances, particularly in metropolitan locations, such as a cooktop that combines gas and induction. Appliances for the kitchen can be integrated completely or only partially. Integration of kitchen appliances improves the aesthetics of the space in addition to making it more energy-efficient. This factor is expected to further drive the growth of the home appliance market.

Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-1992/Global_Home_Appliance_Market

HOME APPLIANCES MARKET SHARE ANALYSIS

Based on type, Air Conditioners are the main type, with a share of about 30%.

Companies are currently creating air conditioning systems that are more effective and environmentally friendly due to the growing demand for technology to reduce carbon dioxide emissions and preserve the environment.

Based on the channel, Offline Sales are the main application, which holds a share of about 70%. This is attributed to the consumers' increased desire for branded, specialty, and convenience stores. An offline distribution method is becoming more popular since it allows customers to see the goods in person, making it simple to check the products' quality and specs.

Based on region, Asia-Pacific is the main market and occupies about 60% of the global market. Sales of smart appliances are anticipated to rise in developed nations like Japan, Singapore, Hong Kong, and Indonesia. This is largely due to growing energy and labor expenses, consumers' high spending power, and increased consumer awareness of smart cities and smart integrated appliances.

Market By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Inquire For Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-1992/Global_Home_Appliance_Market

Key players

Haier
Whirlpool
Midea
Panasonic
Arcelik
SAMSUNG
SONY
LG
BSH
Hisense
Electrolux
Philips
Gree
TCL
Changhong
SKYWORTH
Meling
Bosch

Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-1992/Global_Home_Appliance_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-1992&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

- The global Smart Home Appliances market size is estimated to be worth USD 27680 million in 2022 and is forecast to be a readjusted size of USD 59180 million by 2028 with a CAGR of 13.5% during the review period.

- The global Smart Kitchen Appliances market size is estimated to be worth USD 3328.5 million in 2022 and is forecast to be a readjusted size of USD 20060 million by 2028 with a CAGR of 34.9% during the review period.

- The global Home Laundry Appliance market size is estimated to be worth USD 38790 million in 2022 and is forecast to be a readjusted size of USD 45520 million by 2028 with a CAGR of 2.7% during the review period.

- Global Connected Home Appliance Market Insights and Forecast to 2028

- Global Glass Ceramics for Home Appliance Market Insights, Forecast to 2028

- The global Prefabricated Bathroom Pods market is valued at USD 1.41 billion in 2020 and is expected to reach USD 2.95 billion by the end of 2027, growing at a CAGR of 10.53% between 2021 and 2027.

- The global Integrated Smart Toilet market size is estimated to be worth USD 1230.5 million in 2022 and is forecast to a readjusted size of USD 2264.5 million by 2028 with a CAGR of 10.7% during the review period.

- The global Kids Smartwatch market size is estimated to be worth USD 1297.8 million in 2022 and is forecast to be a readjusted size of USD 3081.2 million by 2028 with a CAGR of 15.5% during the review period.

- In 2020, the global Smart Toilet market size was USD 3395.9 million and it is expected to reach USD 5168.1 million by the end of 2027, with a CAGR of 6.2% from 2021 to 2027.

- The global Smart Retail market size is projected to reach USD 785 Billion by 2027, from USD 142 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 28% from 2021 to 2027.

- In 2020, the global Bluetooth Headphones market size was USD 18760 million and it is expected to reach USD 41110 million by the end of 2027, with a CAGR of 11.7% during 2021-2027.

- The global Prefabricated Housing market size is projected to reach USD 17210 million by 2027, from USD 13940 million in 2020, at a CAGR of 2.6% during 2021-2027.

- The global Soundbars market was valued at USD 3889.4 million in 2020 and it is expected to reach USD 9697.8 million by the end of 2027, growing at a CAGR of 14.0% during 2021-2027.

- The global Smart Home market size is projected to reach USD 117820 million by 2027, from USD 72040 million in 2020, at a CAGR of 6.8% during 2021-2027.

- The global Smart Home Security market size is projected to reach US$ 1595.4 million by 2027, from US$ 726.9 million in 2020, at a CAGR of 11.4% during 2021-2027.

- Global Air Conditioning Filter Drier Market Insights, Forecast to 2028

- Global Rooftop Tent Sales Market Report 2021

- Global and United States Virtual Restaurant and Ghost Kitchens Market Report & Forecast 2022-2028

- Global Wireless Smart Home Market Size, Status and Forecast 2021-2027

- Global Smart Home Control System Market Size, Status and Forecast 2021-2027

- Global and China Smart Home Robotics Market Insights, Forecast to 2027

- Global Sensors in the Smart Home Market Size, Status and Forecast 2021-2027

- Global Smart Home Technologies Market Size, Status and Forecast 2021-2027

- Global Bath Textiles Market Insights and Forecast 2028

About Us:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

Contact Us:

Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

SOURCE Valuates Reports