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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 is experiencing growth due to the increasing number of smaller households and the demand for major appliances or white goods. This market includes consumer electronics that aid in cleaning, food preservation, and laundry, as well as temperature control devices like water heaters and stoves. The rise in smart refrigerators, high-end washing machines, and other gadgets has revolutionized household tasks. Both large electronics and small electronics play a significant role in easing domestic tasks. Electrical devices and mechanical devices designed for homes enhance household chores and comfort. The increasing preference for dishwashers and other advanced appliances indicates a trend towards lifestyle upgrades and improved comfort in European homes 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 research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Household Appliance Market: Household Appliance Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, Japan, France - Size and Forecast
Major Home Appliances: Major Home Appliances Product, Distribution Channel, and Geography - Forecast and Analysis
Smart Home Appliances Market: Smart Home Appliances Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, Canada, UK - Size and Forecast
The market is rapidly evolving with the introduction of advanced cooking appliances and compact and multifunctional appliances. Homeowners are increasingly opting for genuine appliances from reputable appliance brands to avoid counterfeit products. Online retail platforms are enhancing the shopping experience with augmented reality (AR) and virtual reality (VR) for online shoppers. Popular items include refrigerators, air conditioners and heaters, washing machines, dishwashers, entertainment and information appliances, wall ovens, coffee machines, and blenders. The market also features deep cleaners, steam mops, and other vacuum cleaners. Supermarkets and hypermarkets alongside specialty stores continue to be key distribution channels. The emphasis on energy efficiency, smart capabilities, and the use of eco-friendly appliances is driving growth, while addressing concerns like the carbon footprint and production delays related to raw materials such as metals, plastics, and electronic components.
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 Forecasting, 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 market 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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