As per estimates, Asia Pacific electric household appliances market is anticipated to witness huge demand for home appliances due to rising spending capacity and rapid urbanization in the emerging regions. Consumers are progressively seeking value added products that can reduce their efforts & time and are affordable at the same time. This has resulted into a robust demand for appliances including washing machines, air conditioners, and cooking appliances in the region which in turn have accelerated the growth of electric household appliances market.
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Electric household appliances market is witnessing a substantial influx of high-priced appliances with advanced features that are designed to reduce human work and provide superior home care. The worldwide electric household appliances industry players are emphasizing on developing smart and automatic devices by integrating electronics with intelligent sensors and machine programming. Smart electric household appliances have already become a necessity for most of the households and can aptly be termed under the common saying “Home is where the smart is”. The global Electric Household Appliances Market is forecast to show strong growth prospects, as consumers have become more affluent and their choice of appliances have also become more sophisticated.
Electric household appliances market is witnessing a popular trend of multifunctional homewares, that offers added convenience and occupy a little space in houses. Today busy working schedule and smaller living spaces have created an understandable surge in the demand for automatic and space-conscious goods. For instance, Oxo, a Helen of Troy Ltd brand, launched innovative set of mixing bowls that come with silicon lids, which can also be easily converted into food storage containers.
Another example is of Le Creuset, a renowned kitchen essentials brand which has introduced its new oval-shaped Dutch oven which has a reversible lid that can be used as a grill pan. Such product innovations have undoubtedly created huge scope for the growth of electric household appliances market over the coming seven years. Automatic washing machines, smart grid-connected dish washers, water heaters, and air conditioners, are among the others, that are gaining huge market potential with growing trend of home automation.
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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.
Some Points From Table Of Content: –
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
3.5 Pricing trends
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Technological & innovation landscape
3.7 Regulatory landscape
188.8.131.52 Consumer Product Safety Act
184.108.40.206 Federal Hazardous Substances Act (FHSA)
220.127.116.11 EMC Directive
18.104.22.168 Ecodesign Directive
22.214.171.124 EU 517/2014
126.96.36.199 Electricity act of 1994
188.8.131.52 Waste Electrical and Electronic Equipment Directive (2002/96/EC)
3.8 Industry impact forces
3.8.1 Growth drivers
184.108.40.206 Rise in disposable incomes and growth of organized retail sector
220.127.116.11 Technological advancements
18.104.22.168 Advertising and promotions by players
22.214.171.124 Energy efficiency measures in North America
126.96.36.199 Replacement of obsolete products and government initiatives in Europe
188.8.131.52 Need for modernized appliances across APAC
184.108.40.206 Rising disposable income levels in Latin America
3.8.2 Industry pitfalls and challenges
220.127.116.11 High unemployment rates
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2016
3.11.1 Strategy dashboard
3.11.2 Emerging business models
3.12 PESTEL analysis
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