General Retail Goods and Services
Overview of the global residential air purifier market
Technavio’s market research analyst predicts the global residential air purifier market to grow at a CAGR of around 6% between 2016 and 2020. The rising demand for energy-efficient air purifiers from consumers is a key factor responsible for the growth of this market. Several vendors are developing energy-efficient air purifiers that consume less power than conventional air purifiers as it helps save energy costs and reduce carbon footprint. The global residential air purifier market is undergoing several advances in technology, and the trend is anticipated to continue during the forecast period. Some of the popular residential air purifiers with HEPA air filtration technology include Blueair HEPASilent Air Purifier and Blueair Classic 505 HEPASilent Air Purifier, Honeywell True HEPA Tower Allergen Remover and Sharp Plasmacluster Ion Air Purifier with True HEPA Filtration. Also, the vendors are coming up with advanced materials to enhance the efficiency of air purifiers.
Geographically, North America dominated the global market and accounted for the largest market share in 2015. Much of the region’s growth can be attributed to various innovations in air purifiers using the HEPA filtration technology. The increased consumption of residential air purifiers, equipped with HPEA filtration technology to remove pollutants from the air inside the home and eliminate smoke, pollens, dust, and pet dander are driving the market in North America. Moreover, the growing importance of healthier indoor air quality, encouraged by the US EPA, and the green-building movement are further fueling the demand for air purifiers in homes across the region.
Competitive landscape and key vendors
The global residential air purifier market is fragmented with the presence of both regional and international vendors. Honeywell,
Market overview of the residential water treatment equipment
Technavio’s market research analyst predicts the global residential water treatment equipment market to grow at a CAGR of close to 16% between 2016 and 2020. Wastewater treatment is gaining importance owing to the shrinking water resources globally, where more municipalities are considering it a viable alternative to address water scarcity problems. The rapidly surging industrial and environmental pollution across the globe is fueling the requirement for water treatment equipment, coupled with the increased awareness about drinking water quality and health. In several developing countries, over 70% of the industrial waste is discharged without treatment, which contaminates the existing water supplies. Moreover, with the growing threat of groundwater depletion, residents are procuring water from water suppliers; however, are wary about the quality of water supplied and tend to use water treatment equipment, such as POU or POE, as a treatment strategy to ensure safe drinking water. The rising concerns over waterborne diseases and other risks and detrimental effects of hard water will lead to further growth of the residential water treatment equipment market by 2020.
Several voluntary national standards across various countries such as NSF/ANSI in the UShave launched lowest requirements for the performance and safety of products that are used to treat residential drinking water and issue standard certifications to manufacturers. For instance, General Electric's GXWH04F Standard Flow Whole House Filtration System is NSF/ANSI certified to decrease silt, dirt, rust, and sand in the water. These certifications aid manufacturers gain consumer confidence and increase their brand value. Moreover, contemporary water treatment equipment like water
Overview of the global household insecticide market
Market research analysts at Technavio predict that the global household insecticide market will grow steadily during the next four years and will post an impressive revenue of almost USD 14 billion by 2020. This market research analysis identifies government incentives and innovative marketing strategies followed by vendors as one of the primary factors that will have a positive impact on the growth of this market. Initiatives and campaigns organized by several countries such as India, Nigeria, and the US to spread awareness about harmful vector diseases and the various awareness and welfare programs launched by several NGOs and the WHO, will drive the demand for household insecticides. Owing to intense competition, vendors will start focusing on multiple marketing channels including newspapers, billboards, internet, and radio. Additionally, they are also concentrating on spreading awareness on various vector diseases and regionalizing their marketing initiatives according to different regions, which will also propel the market’s growth prospects during the predicted period.
In terms of geographical regions, APAC will be the major revenue contributor to the household insecticide market throughout the forecast period. The awareness on the benefits of using household insecticide products that result in the increased adoption of these products in several tier 1 and tier 3 cities, will fuel market growth in this region. Furthermore, the rising instances of insect-borne diseases owing to the region’s tropical and sub-tropical climate, will also aid in the growth of the market in this region.
Competitive landscape and key vendors
Due to the presence of well-established vendors and regional or local insecticide manufacturers, this global market appears to be fragmented and is
Overview of the furniture manufacturing market in Turkey
According to the market research analysts at Technavio, the furniture manufacturing market in Turkey will witness tremendous growth and post a staggering CAGR of more than 9% during the forecast period. The major distinguishing factor in the furniture manufacturing industry is the cost of the product, which is directly dependent on labor costs. This works in favor of the Turkish manufacturers due the abundance of cheap labor in the country compared to the other European countries that are faced with issues like strong labor rights, shorter working hours, high wages, and social security costs. Such benefits allow Turkey to produce high-quality furniture that conforms to European standards at low prices.
The augmented use of medium-density fiberboard (MDF) in furniture is one of the emerging trends spurring this market’s growth prospects during the forecast period. MDF is an engineered product made by breaking down hardwood or softwood residuals into wood fibers, combining it with wax and a resin binder, and forming panels by compressing this mixture under high temperature and conditions. MDF is denser than plywood and because of its high tensile strength and flexibility, MDF panels and MDF-based products have become the materials of choice in the furniture industry in Turkey. Also, Turkey is one of the largest manufacturers of MDF in Europe, which will also contribute to the growth of this market during the predicted period.
Segmentation by product type and analysis of the furniture manufacturing market in Turkey
- Office and shop furniture
- Kitchen furniture
In terms of revenue, the office and shop furniture segment dominated the furniture manufacturing market in Turkey and accounted for close to 39% of the total market shares during 2015. Office furniture includes a
Overview of the global home theater projector market
Technavio’s market research analysts predict the global home theater projector market to grow at a CAGR of around 8% between 2016 and 2020. The growing preference for a theater-like movie or gaming experience among consumers has led to the increased adoption of home theater projectors. Also, these projectors are portable and more economical than products like flat-screen TVs. One of the recent developments in the market is the growing demand for ultra-short throw projectors with high brightness. Also, consumers are opting for energy-efficient and eco-friendly projectors. Recently, Casio launched a new range of eco-friendly LampFree projectors that consume over 50% less electricity than regular projectors. Vendors have also introduced smart projectors, which automatically shifts to an idle mode when not in use, thereby saving electricity.
Geographically, APAC is one of the fastest-growing regions in the global home theater projector market. China, Japan, and India are the major revenue contributing countries in this region. The emerging middle-class population of the region with their increasing disposable income is the major driving force in the growth of the market in APAC. With the increasing procurement of expensive products, including advanced audio and video devices, by a large segment of the population, the home theater projector market in APAC will witness a huge growth rate during the forecast period.
Competitive landscape and key vendors
Marked by the presence of well-established global as well as local players, the global home theater projector market is highly fragmented. Intense competition prevails in the market where the manufacturers are constantly
Overview of the department stores in Germany
Technavio’s market research analyst predicts the department stores in Germany to reach revenues worth USD 17 billion by 2020. Over the past few years, the sales in department stores in Germany are witnessing decline owing to the growth of other retail formats like discount stores, shopping malls, and e-commerce websites. Such decreasing revenues have propelled several retailers to move away from mid-market consumer segment and re-position themselves as high-end stores with wide product assortment. Several players like KaDeWe have branded themselves as high-end and luxurious stores, where they are offering wide assortments of products to enhance customer experience and improve their sales. Also, players are adopting promotional strategies like bundled prices, volume discounts, and seasonal sales to attract more traffic to their department outlets.
The market is witnessing increasing shift towards omnichannel retailing, where retailers are focused on attracting more consumers. Several leading department stores such as GALERIA Kaufhof are trying to build online presence, enhance their digital portfolios, and attract customers through mobile and web-based services. To survive in the competitive market scenario, department stores are optimizing their inventory management for multiple channels and are integrating procurement information into a single operational plan. With more department stores strengthening their conventional businesses with online capabilities, the market will witness steady growth in the coming years.
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