Electric Household Appliances Market Shipments are Estimated to cross 1 billion units by 2024
The electric household appliances market is anticipated to exhibit considerable growth in the coming years owing to the rise in disposable incomes in developing countries, which has led to an enhanced consumer spending
Selbyville, United States – June 28, 2019 /MarketersMedia/ —
The Asia Pacific electric household appliances market is expected to grow significantly. The improved standard of living in these rapidly-developing economies has resulted in the proliferation of electronic appliances in the regions. The countries including the U.S., UK, France, and Germany are projected to show a high growth in the electric household appliances market owing to the high demand for the replacement of electric devices.
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Growth in the organized retail sector is one of the key drivers of the electric household appliances market. In light of the competition, the retailers give lucrative offers to the buyers and easy and varied sources of credit schemes to purchase their products. For instance, retail shops offering shaving machines give attractive purchasing offers to the buyers if they intend to purchase a beard trimmer. Additionally, the organized retail enables shops to have higher margins, which allow them to give higher discounts to the buyers thereby furthering the electric household appliances market growth.
Rising technological advancements in the electric appliances are key trends that are anticipated to significantly accelerate the electric household appliances market growth. For instance, people did not prefer buying wind blowing coolers earlier; however, with technological advancements and greater flexibility offered by the electric coolers, people may favor these devices. Additionally, advancements in technology have enabled these electronic appliances to be priced more competitively, thereby amplifying the reach of the electric household appliances market.
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It is expected that the online sales of air conditioners will show a rapid growth in the coming years as consumers are feeling comfortable purchasing branded appliances online. In addition, improvements in after-sales services have provided an impetus to the electric household appliances market growth. Manufacturers are working with several other companies to ensure timely delivery and installation after the online sales of the product.
With the growing prevalence of smart technologies, the prominent electric household appliances market players including Electrolux, Siemens AG, Samsung, Walton Group, and LG are undertaking numerous growth strategies which boosts innovation and product development. A recent report on electric household appliances market put forth by Global Market Insights, Inc., has estimated the market valuation to surpass USD 600 billion, with global shipments exceeding 1 billion units by 2024.
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Table of Contents (ToC) of the report:
Chapter 3 Electric Household Appliances Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.3 Policies affecting the ecosystem
3.4 Raw material trends
3.4.1 Stainless steel
3.4.2 Plastics
3.4.3 Aluminum
3.5 Pricing trends
3.6 Technological & innovation landscape
3.7 Regulatory landscape
3.7.1.1 Consumer Product Safety Act
3.7.1.2 Federal Hazardous Substances Act (FHSA)
3.7.2.1 EMC Directive
3.7.2.2 Ecodesign Directive
3.7.2.3 EU 517/2014
3.7.3.1 Electricity act of 1994
3.7.3.2 Waste Electrical and Electronic Equipment Directive (2002/96/EC)
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Rise in disposable incomes and growth of organized retail sector
3.8.1.2 Technological advancements
3.8.1.3 Advertising and promotions by players
3.8.1.4 Energy efficiency measures in North America
3.8.1.5 Replacement of obsolete products and government initiatives in Europe
3.8.1.6 Need for modernized appliances across APAC
3.8.1.7 Rising disposable income levels in Latin America
3.8.2 Industry pitfalls and challenges
3.8.2.1 High unemployment rates
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
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Organization: Global Market Insights, Inc.
Address: Global Market Insights, Inc., 4 North Main Street,
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/electric-household-appliances-market
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