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The Europe Household Appliances Market size is forecast to increase by USD 25.66 billion, at a CAGR of 4.35% between 2023 and 2028. Product innovation and portfolio extension are driving market growth and fostering product premiumization. The increasing Internet and smartphone penetration, coupled with the rising use of wireless connecting devices and the Internet of Things (IoT), are fueling demand for smart appliances. These factors collectively contribute to the market's expansion, aligning with evolving consumer preferences for advanced, connected devices. As technology continues to evolve, the demand for smarter, more innovative appliances is expected to grow, further stimulating market growth.
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The market showcases a diverse range of products catering to various needs. Major appliances like refrigerators, freezers, dishwashing machines, and washing machines form the cornerstone of modern households, providing convenience and efficiency. Alongside these, smaller appliances such as coffee machines, toasters, and vacuum cleaners add versatility to everyday tasks. With the rise of smart homes and IoT, energy management and consumption have become focal points, driving demand for energy-efficient solutions. The market thrives on sustainability, with a growing emphasis on environmentally friendly practices and products. E-commerce platforms play a significant role, offering consumers a convenient way to access a wide range of appliances. From multi-brand stores to exclusive outlets, the market provides diverse purchasing options, ensuring accessibility for all consumer segments. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing Internet and smartphone penetration is notably driving market growth. These factors not only enable users to use smart devices but also keep them updated with the latest trends and technologies emerging in the market. With the widespread penetration of the Internet across the globe, related industries such as IT and electronics (including appliances), which are dependent on the Internet, are experiencing massive growth. Hence, the adoption and demand for smart household devices are also growing along with the increasing Internet speed, smartphone penetration, and cellular subscription. Additionally, E-commerce platforms are increasingly becoming popular for purchasing multi-functional products, major devices, small appliances, and modular and energy-efficient household equipment. These platforms offer consumers a wide range of choices and convenience in shopping for home appliances.
Moreover, the sales of smartphones reached more than 176 million in 2022. Such an increase in the number of smart devices eases the use of home devices for customers. With improved network coverage and innovative technologies such as third-generation (3G), fourth-generation (4G,) or long-term evolution (LTE), data consumption across the world has also risen along with new cutting-edge technologies such as IoT. The US, Canada, Germany, Spain, the UK, South Korea, Australia, Israel, Chile, and Malaysia are countries with the highest smartphone penetration and these countries also promote sustainability. The increase in smartphone and Internet penetration is driving the market in these countries during the forecast period.
The adoption of multi-functional household appliances is an emerging trend shaping market growth. The growing demand for innovative and advanced products has propelled the demand and popularity of multi-functional household devices in Europe. The multifunctionality of products not only addresses their basic features but also derives the maximum value from the amount spent on a single product. Although multi-functional household devices are priced higher than other household devices, they are perceived to save the time and money of customers. For instance, multicookers offer multiple benefits, such as cooking, steaming, and frying.
Further, the increase in the number of such multi-functional offerings in the Europe household appliances market has propelled the adoption of such products among customers. The growing customer emphasis on functionality and features of products has resulted in increased demand for multi-functional household appliances. For instance, advanced automatic washing machines feature not only washers and dryers but also smart systems that enable them to perform the stated tasks by the user. Such advantages of multi-functional household appliances will propel the market during the forecast period.
Environmental and health-related concerns due to emissions from household appliances are a significant challenge hindering market growth. Household devices use several operational materials and instruments, such as magnetic coils in induction hobs for heating cookware and carbon monoxide (CO) in air conditioners and refrigerators for cooling. These substances used in household appliances, if installed improperly and unused by devices, are hazardous to human health. For instance, induction cooktops generate low-frequency electromagnetic radiation, which is similar to the microwave radio frequency that passes through the base of the cookware.
Moreover, strong electric shocks can impact the central nervous system severely, leading to fatal conditions. The CO gas used for cooling in refrigerators and air conditioners has a severe impact on the environment. It also negatively affects people having breathing problems. Hence, health-conscious customers may avoid purchasing household appliances such as air conditioners and induction hobs, which can limit the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AB Electrolux - The company offers household appliances such as ovens, air purifiers, and vacuum cleaners.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The distribution channels for household devices in Europe encompass specialty stores, department stores, and mass merchandisers, including hypermarkets, supermarkets, convenience stores, and clubhouse stores. Specialty stores, also known as electronic and specialty retailers (EASRs), lead revenue generation owing to their increasing popularity and diverse product offerings from various brands.
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The offline segment was the largest and was valued at USD 82.61 billion in 2018. Additionally, retailers are establishing their own outlets, enabling vendors to allocate budgets for marketing, promotions, and IT support. Mass merchandisers, comprising hypermarkets like Walmart, contribute significantly to the market revenue by offering a wide range of products at competitive prices. Department stores also play a vital role, accounting for a considerable share of annual sales in the appliance segment, providing convenience, extensive product variety, and the opportunity for customers to evaluate products closely before purchase. These factors collectively drive the growth of the online segment in the market during the forecast period.
The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market showcases a diverse array of products, ranging from multi-functional appliances to small appliances designed to simplify everyday tasks. Major home appliances, such as cookers, ovens, irons, and grills, are widely available through exclusive stores, catering to the evolving needs of smart households. With a growing emphasis on energy consumption and environmental concerns, manufacturers are focusing on developing modular and energy-efficient household equipment, including speed cooking ovens and warming drawers. Technological advancements have led to the integration of smart features like Wi-Fi connectivity and home automation systems in appliances, providing convenience and efficiency to users.
Moreover, energy-efficient lighting, water-saving devices, and Energy Star certified products are gaining traction in the market due to their environmentally friendly attributes. Innovative features such as motion-sensing technology, noise reduction, child safety locks, time-delay functions, and self-cleaning technology enhance the functionality and safety of household devices. Aesthetic design options further contribute to the appeal of these products, reflecting the evolving preferences of consumers in Europe for appliances that combine style with functionality.
Further, in the market, companies offer a wide range of multi-functional products designed to meet diverse consumer needs. From cookers and ovens to grills and roasters, innovative appliances cater to various cooking preferences. Microwave ovens and energy-efficient appliances are particularly popular among consumers seeking convenience and sustainability. Smart induction technology integrated into built-in cooktops reflects the trend toward intelligent home solutions. Additionally, as disposable income grows and electric vehicles become more prevalent, consumers prioritize noise reduction features in their appliances, contributing to the evolving landscape of household technology in Europe.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.35% |
Market Growth 2024-2028 |
USD 25.66 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.0 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB Electrolux, DeLonghi Group, Dyson Group Co., Haier Smart Home Co. Ltd., Hamilton Beach Brands Holding Co., Hitachi Ltd., Koninklijke Philips N.V., LG Electronics Inc., Liebherr International Deutschland GmbH, Midea Group Co. Ltd., Miele and Cie. KG, Newell Brands Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., SEB Developpement SA, Smeg S.p.a., Spectrum Brands Holdings Inc., Techtronic Industries Co. Ltd., and Whirlpool Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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