Wiseguyreports.Com Publish New Market Report On -“Global Consumer Electronics and Home Appliances Market 2019 Sales, Supply, Demand & Analysis Forecast to 2024”
PUNE, INDIA, November 1, 2019 /EINPresswire.com/ —
Consumer electronics and home appliances can be broadly categorized as white goods or major appliances, and small appliances. Major appliances are home appliances that are used for cooking food preservation or washing laundry. Examples of large appliances are washing machines, gas stoves, refrigerators, etc. Such appliances are connected to electricity or gas, limiting their movement. Portable appliances like counter-tops and table-tops fall into the small appliances category. Some examples include blenders, coffee machines, humidifiers & dehumidifiers, and clothes steamers & iron, and so on.
The global consumer electronics and home appliances market has a revenue of 340 million in 2019, and this number is expected to go up to $528 by 2023, at a CAGR of 11.3%.
The following top manufacturers are covered:
Miele & Cie
Hoover Candy Group
The market hike can be attributed to urbanization, technological advances, increasing per capita income, availability of disposable income, and changing consumer lifestyle with a need for comfort in household chores. Further, eco-friendly and energy-efficient appliances have seen a rising demand in recent years.
The global consumer electronics and home appliances market has witnessed a growing demand for premium electronics with smart features using IoT technology.
The global consumer electronics and home appliances market can be segmented by product type and distribution channels.
The product types include refrigerator, entertainment consoles, air conditioner & heater, washing machine, cooking range, and microwave, and oven. A refrigerator is an essential part of every household and has the most demand of all other consumer appliances. A refrigerator is used in almost every house and is one of the first appliances that is purchased once there is an availability of disposable income.
The primary distribution channels for consumer electronics and home appliances are hypermarket, specialty stores, and eCommerce. E-commerce is growing rapidly due to the increased focus towards online shopping and the convenience it offers. The specialty store segment is a large contributor to the overall consumer electronics and home appliances market.
Geographically, the consumer electronics and household appliances markets can be segmented into North America, Europe, the Asia-Pacific, and the Middle East & Africa. North America has the most substantial contribution to the market share, owing to the prevalence of key players in the region, growing research for the adoption of new technology in such appliances, and higher availability of disposable income. Low interest rates and a good economic condition in most regions is the primary reason for the growth of the market in Europe.
The Asia Pacific has seen rapid growth in the demand for consumer electronics and household appliances, and this upward trend is expected to continue in the coming years.
Smart appliances are driving the market growth, and industry leaders are focusing on developing appliances with modern technology to get an edge over the competition.
For instance, in 2018, Bosch introduced a double-door refrigerator, thus adding the company to the double-door refrigerator segment in the global market.
Another example is Xiaomi, who introduced a new product to its Mijia product line in 2018. Xiaomi launched a new product to its Mijia product line, which is the Mijia Smart Air Conditioner, featuring an anti-UV ABS polymer resin body.
Table of Contents –Analysis of Key Points
Global Consumer Electronics and Home Appliances Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
Consumer Electronics and Home Appliances Global Market Analysis by Regions
North America Consumer Electronics and Home Appliances by Country
Europe Consumer Electronics and Home Appliances by Country
Asia-Pacific Consumer Electronics and Home Appliances by Country
South America Consumer Electronics and Home Appliances by Country
Africa and Middle East Consumer Electronics and Home Appliances by Countries
Consumer Electronics and Home Appliances Global Market Segment by Type
Consumer Electronics and Home Appliances Global Market Segment by Application
Consumer Electronics and Home Appliances Market Forecast (2019-2025)
Sales Channel, Distributors, Traders and Dealers
Research Findings and Conclusion
List of Tables and Figures
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Source: EIN Presswire