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Household Appliances Global Market Size, Share, Trends, Growth And Industry Forecast Report By 2032
Household Appliances Market
The Business Research Company's Household Appliances Global Market Report 2023 identifies The rising trend of outdoor parties and cookouts on weekends and holidays as the major driver for the household appliances market's growth in the forecast period. Rapidly evolving lifestyle along with the increasing outdoor recreational activities will increase the demand for barbeque machines and grills. The Europe barbeque grill market is expected to grow to $5.98 million by 2026. Increasing access to unique camping sites, and increasing adventure camping, coupled with the rising disposable income will drive the market for barbeques globally, which in turn will boost the household appliances market in the forecast period.
The global household appliances market size grew from $551.29 billion in 2022 to $606.58 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The household appliances industry is expected to grow to $859.71 billion in 2027 at a CAGR of 9.1%.
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Major competitors in the household appliances market are Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., LG Electronics, Qingdao Haier Co. Ltd., Daikin Industries Ltd.,
A key trend in the household appliances market includes products with LED lighting. Household appliance manufacturers are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance.
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The household appliances market is segmented -
•By Type: Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance
•By Application: Cooking, Cleaning, Other Applications
•By Mode: Online, Offline
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the household appliances market.
The Business Research Company's "Global Household Appliances Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Household Appliances Market Include:
1. Household Appliances Market Executive Summary
2. Household Appliances Market Segments
3. Household Appliances Market Size And Household Appliances Market Growth Rate
4. Key Household Appliances Market Trends
5. Major Household Appliances Market Drivers
……
25. Key Mergers And Acquisitions In The Household Appliances Market
26. Top Household Appliances Companies
27. Household Appliances Market Opportunities And Strategies
28. Household Appliances Market, Conclusions And Recommendations
29. Appendix
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