2-April-2019: The global appliances market size is anticipated to reach USD 1.81 trillion by 2025 registering a CAGR of 7.2%, according to a new report by Grand View Research, Inc. Mounting demand for modern and technically advanced appliances, owing to durability and comfort, is expected to augment the market growth over the forecast period. In addition, increased disposable income levels, improving standards of living, and rapid urbanization across the globe are expected to contribute to the market expansion. Manufacturers in the market have a global distribution network, which includes resellers, company-operated stores, e-commerce, dealers, and value-added resellers.
They expand their distribution network by offering brand equity, installed base, and product advancements. Sales engineers work closely with customers to design and develop application-specific products to match the particular requirements. Energy-efficiency is a crucial factor influencing the global market. Governments across the globe have enforced various stringent guidelines to ensure energy-efficiency for household appliances, thus propelling consumers to purchase only those goods fulfilling the minimum energy-efficiency regulations.
These guidelines are implemented at various stages, including manufacturing, sales and operation, as well as recycling, to help the companies in the market value chain. There are various barriers as well as benefits of the energy-efficiency programs developed by the policy-makers. Moreover, despite cost-effectiveness and several programs being run by the governments across the globe to spread awareness regarding energy-efficiency, the optimal outcome has not been achieved due to several barriers during the implementation stage of these programs.
In depth research report on Appliances Market
Further key findings from the study suggest:
· In terms of revenue, smartphones product segment is anticipated to reach USD 888.1 billion by 2025 expanding at a CAGR of 8.3% from 2017 to 2025
· Television product segment led the market, in terms of revenue, in 2016 owing to increased disposable income
· The U.S. appliances market is anticipated to exceed USD 261.4 billion by 2025 owing to the presence of prominent manufacturers and suppliers in the country
· Some of the key companies in the global market are Whirlpool Corporation, Electrolux AB, Haier Group, BSH Hausgeräte, LG Corp, Midea Group, and Samsung Electronics
· Most of these companies have undertaken several business strategies including M&A and product development to strengthen their foothold in the global industry
Grand View Research has segmented the global appliances market on the basis of product and region:
Appliances Product Outlook (Revenue, USD Million, 2014 - 2025)
· Home appliances
· Television
· Washing Machine
· Refrigerator
· Air Conditioner
· Others
· Personal care appliances
· Hair Care
· Oral Care
· Others
· Smartphones
· Others
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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