Home, Kitchen and Large Appliances
Market outlook of the water softener market
Technavio’s research analyst predicts the global water softener market to grow steadily at a CAGR of close to 7% during the forecast period. The growing awareness about the harmful impacts of hard water is the primary growth driver of this market. It has been observed that the municipal water treatment techniques do not treat the hardness of water effectively due to infrastructural bottlenecks. Consequently, consumers in residential buildings have started opting for point-of-entry water equipment like water softeners.
The increase in technological innovations and research by vendors has led to an expansion of their respective portfolios. Developing countries have been witnessing a deterioration in water quality due to urbanization and industrialization. To tackle these growing problems, vendors in the market have started offering products like the connectivity-enabled water softeners to capitalize on the growing home automation trend. Such innovations are expected to propel the market growth over the next four years.
Geographical segmentation and analysis of the water softener market
- North America
APAC accounted for close to 55% of the market share in 2015, and it is expected to grow at a CAGR of 8% during the forecast period. Increased awareness about the harmful effects of hard water on appliances, skin and hair of consumers is the primary driver for the market in APAC. The increase in the number of local vendors in China and India is also propelling market growth in this region.
Competitive landscape and key vendors
The global water softener market is highly fragmented because of the presence of numerous small
Outlook of the global hand blender market
Technavio’s market research analyst predicts the global hand blender market to grow steadily at a CAGR of about 7% during the forecast period. The improved functionality and performance of hand blenders are the primary growth drivers for this market. Additionally, factors such as advances in technology have resulted in the development of advanced and automated hand blenders, which in turn will foster its demand during the predicted period.
The report also anticipates that given the volume of production, the Chinese and international vendors that have production facilities in China will be in an advantageous position to manufacture and distribute hand blenders across the globe.
Geographical segmentation of the global hand blender market
EMEA accounted for about 56% of the total market share in 2015 and is expected to grow at a CAGR of about 8% during the forecast period. Growing culinary interests and the rising demand for portable kitchen appliances that are easy to use will drive the hand blender market in EMEA during the forecast period.
Competitive landscape and key vendors
The global hand blender market is characterized by the presence of well diversified international and regional vendors. However, as international players are increasing their footprint, regional vendors are finding it difficult to compete with them, especially in terms of product quality, technology, and price.
The leading vendors in the market are -
- Kitchen Aid
Outlook of the global space heaters market
In terms of units shipped, the global space heater market is envisaged to post a steady CAGR of more than 5% by 2020. The increasing penetration of electronic devices in emerging nations is a key factor that will impel the prospects for growth in this market. The recent increase in per-capita income will augment the adoption of electric and technologically advanced products during the forecast period. Due to a rise in the number of working members of families, people are increasingly opting for electric home appliances. With the increased scope for high-priced space heaters, local players are introducing newer products to capitalize on the populace’s increasing purchasing power.
Improvements in the installer’s capabilities will be the key driver for the growth of this market. Recently, it has been observed that installers are maximizing their online presences and collaborating with vendors to capitalize on every possible means of increasing their visibility for consumers. They are also focusing on developing their online portfolios to ensure that they are visible to their potential consumers of smart space heaters. Since the procedure to install smart space heaters and wall-mounted heaters is different from that of traditional heaters, vendors are investing on training installers to improve their efficiency and provide improved services to customers. The ability of the installers to fill the knowledge gap that exists between vendors and homeowners will result in the growth of this market during the forecast period.
Geographical segmentation of the space heaters market
- North America
In terms of geography, Europe will be the largest market for space heaters during the forecast period. The
Market outlook of tankless water heater
Technavio’s market research analyst predicts the global tankless water heater market to grow steadily at a CAGR of almost 9% during the forecast period. The superior features of tankless water heaters compared to conventional storage water heaters will be the primary driver for the market. Tankless water heaters heat water only when it is used, resulting in lesser consumption of energy, whereas the conventional water heaters stores heated water in a tank and reheats when the water cools down, thus consuming more energy. Although, tankless water heaters cost more than the older storage water heaters, their long-term savings in resources makes them more cost-effective. These advantages of tankless water heaters are leading to their popularity and higher demand, thereby propelling the growth of the market.
Another major driver for the market is the new residential construction and home improvement projects that have led to increased investments on appliances like water heaters. The economic growth in developed regions coupled with the growth of the residential construction market in emerging economies has positively benefited the kitchen and home appliances market. Moreover, increased investments in new residences are expected to boost the demand for energy-efficient appliances such as water heating solutions over the next few years.
Product segmentation and analysis of the tankless water heater market
- Electric tankless water heaters
- Gas tankless water heaters
The electric tankless water heaters segment dominated the market during 2015 and is projected to grow at a CAGR of close to 10% during the forecast period. Electric tankless water heaters are preferred over gas tankless water heaters due to their low cost. Unlike gas tankless water heaters,
Market outlook of the global water purifier market
Technavio’s market research analyst predicts the global water purifier market to grow steadily at a CAGR of over 14% during the forecast period. The increase in water-borne diseases due to contamination of water is one of the primary drivers for the growth of the market. Hazardous materials released by agricultural activities and improper disposal of heavy industrial waste are leading to contamination of rivers and groundwater, which are used as a source of drinking water. For instance, heavy metals like lead, zinc, copper, cobalt, cadmium, nickel, chromium, molybdenum, and magnesium present in water can cause kidney stones, as well as blood disorders. These factors such as the deteriorating water quality and the growing awareness of health hazards related to impure or untreated water will propel the growth of the global water purifier market over the next five years.
Another major driver of the market will be the increase in technological innovations and research by vendors that has resulted in the addition of low-cost water purifiers in their product portfolio. Developing countries have seen a deterioration in water quality due to urbanization and industrialization. As consumers are becoming aware of the repercussions of drinking untreated water, they have started investing in residential water treatment equipment like water purifiers. The vendors in the market have added product offerings that cater to the lower income households to capitalize on the opportunity. This factor will propel market growth in the forecast period.
Product segmentation of the water purifier market
- RO water purifiers
- Gravity-based water purifiers
- UV water purifiers
The RO water purifiers segment
Scope of the beverage coolers market
Technavio’s research analyst predicts the global beverage coolers market to grow steadily at a CAGR exceeding 5% during the forecast period. Increased consumption of beverages at home is one of the primary drivers contributing to the growth of the market. The increase in the varieties of beverages available in the market, coupled with a rise in health consciousness among consumers, is driving people to consume more beverages at home rather than at outlets and pubs. With the increase in beverage consumption, consumers are investing on specialized appliances like beverage coolers so that the quality, flavor and taste of the beverage is retained for a long period.
Change in kitchen designs is another fast-moving trend, which is driving the growth of the market. Consumers are investing on appliances that offer good storage and planning of space, with little ornamentation and ease of maintenance. This has led to growth in the built-in appliances market and benefited the appliance vendors who have introduced built-in beverage coolers in their product offerings. Apart from saving counter space, built-in beverage coolers also add aesthetic appeal to a kitchen.
Product segmentation and analysis of the beverage coolers market
- Beverage centers
- Wine coolers
With a significant share of close to 59% in 2015, the beverage centers segment dominated the market. Factors such as increased off-trade consumption of beverages and change in home décor to incorporate built-in appliances are driving the beverage centers market. In addition, the versatility of beverage centers to store more variants of beverages than wine coolers is driving the sales of beverage centers.
Geographical segmentation and analysis of the global
Home appliances include air conditioners, heaters, televisions, and washing machines and dryers. Kitchen appliances include coffee machines, refrigerators, stoves, and microwave ovens.
Technavio’s consumer data and market analysis advances your knowledge of the industry and its competitive environment and provides insights on kitchen appliances, commercial kitchen appliances, electric home appliances, integrated kitchen appliances, kitchen small appliances, and luxury kitchen appliances.