NEW YORK, May 9, 2023 /PRNewswire/ -- The household appliances market size in Europe is expected to grow by USD 22.82 billion between 2022 and 2027, progressing at a CAGR of 3.98% as per the latest Technavio market research report. The growth of the market is driven by growing internet and smartphone penetration. The rising penetration of the internet and the rapid adoption of smartphones have increased the demand for smart home appliances. These appliances keep consumers stay updated with the latest trends and technologies emerging in the market. The adoption of smart home appliances is also increasing with rising internet speeds and cellular subscriptions. Moreover, improved network coverage and innovative technologies such as 3G, 4G, and LET have also supported the penetration of smart devices. All these factors are positively influencing the growth of the market in focus. Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports- Download sample report in MINUTES
Household Appliances Market in Europe: Introduction of multi-functional products to be a key trend
The demand for multi-functional household appliances is increasing among consumers in Europe. Multi-functional appliances not only address their basic features but also derive the maximum value from the amount spent on a single product. Although they are priced higher than regular appliances, they are perceived to save time and money for customers in the long run. Also, the growing emphasis on functionality and features of products has further increased the demand for multi-functional household appliances. For instance, advanced automatic washing machines not only include washers and dryers but also include smart systems that enable them to perform various tasks. Such advantages associated with the use of multi-functional household appliances will fuel the market growth during the forecast period.
Household Appliances Market in Europe: Long product lifecycle and high capital costs for major household appliances to challenge growth
A majority of household appliances are made of stainless steel or hard and durable metals. Hence, they have longer replacement cycles than those made of materials such as plastic. Besides, vendors in the market continuously engage in R&D to develop innovative and highly durable materials to extend the operational life of appliances. Also, extended warranties provided by vendors discourage consumers from investing in new household appliances. Such challenges restrict the growth of the market in focus.
In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, challenges for the market- Download a sample now!
Some of the key Household Appliances Market in Europe: Players
The household appliances market in Europe is fragmented with the presence of several vendors. The vendors in the market are investing heavily in building infrastructure suitable for manufacturing and testing household appliances. They are also emphasizing building brand and brand equity in the market to differentiate themselves from other competing brands. These factors are intensifying the competition in the market over the forecast period. Some of the key vendors covered in the report include:
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AB Electrolux - The company offers household kitchen appliances that are designed to be used for domestic applications.
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Glen Dimplex Europe Holdings Ltd. - The company offers a pure hot cool link HP02 purifying heater along with a fan that is designed to be used for cooling and heating the atmospheric air in residential space.
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Hamilton Beach Brands Holding Co. - The company offers 712 Litres Inverter french door refrigerator appliance which is designed to be used for storing food and beverages.
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Hisense International Co. Ltd - The company offers a 22-quart electric roaster oven which is designed to roast non-veg food products like chicken and fish.
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SEB SA Co.
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Hitachi Ltd.
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Koc Holding AS
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Miele and Cie. KG
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MIRC Electronics Ltd.
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Panasonic Holdings Corp.
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Robert Bosch GmbH
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Samsung Electronics Co. Ltd.
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TEKA INDUSTRIAL SA
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Transform Holdco LLC
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Whirlpool Corp.
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Household Appliances Market in Europe: Segmentation Analysis
This market research report segments the household appliances market in Europe by distribution channel (offline and online) and product (major households and small households).
The market growth in the offline distribution channel segment will be significant over the forecast period. The segment involves the sales of household appliances through specialty stores, department stores, and mass merchandisers. Vendors in the market are coming up with their own retail outlets, enabling them to plan their budgets for marketing, advertising, promotions, brand building, training, and IT support. Also, factors such as convenience and the availability of a wide assortment of products under a single roof are driving the growth of the segment.
The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market - Grab an Exclusive Sample Report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Related Reports:
The global major home appliances market size is estimated to grow by USD 89.95 billion between 2022 and 2027 accelerating at a CAGR of 4.9%. The market is segmented by product (refrigerators and freezers, washing and drying appliances, heating and cooling appliances, and cooking appliances), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The smart kitchen appliance market is estimated to grow at a CAGR of 13.4% between 2022 and 2027. The size of the market is forecast to increase by USD 13,293.08 million. The market is segmented by product (smart large cooking appliance, smart refrigerator, smart small cooking appliance, and smart dishwasher), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
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Household Appliances Market in Europe: Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.98% |
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Market growth 2023-2027 |
USD 22.82 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
3.38 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Electrolux, Breville Pty Ltd, Glen Dimplex Europe Holdings Ltd., SEB SA Co., Hamilton Beach Brands Holding Co., Hisense International Co. Ltd, Hitachi Ltd., Koc Holding AS, Miele and Cie. KG, MIRC Electronics Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., TEKA INDUSTRIAL SA, Transform Holdco LLC, Whirlpool Corp., Dyson Group Co., Haier Smart Home Co. Ltd., LG Electronics Inc., and MIDEA Group |
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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, and market condition analysis for the forecast period. |
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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. |
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Table of contents:
1 Executive Summary
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1.1 Market overview
2 Market Landscape
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2.1 Market ecosystem
3 Market Sizing
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3.1 Market definition
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3.3 Market size 2022
4 Historic Market Size
5 Five Forces Analysis
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5.1 Five forces summary
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5.6 Threat of rivalry
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5.7 Market condition
6 Market Segmentation by Distribution Channel
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6.1 Market segments
7 Market Segmentation by Product
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7.1 Market segments
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
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10.1 Market drivers
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10.2 Market challenges
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10.4 Market trends
11 Vendor Landscape
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11.1 Overview
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11.2 Vendor landscape
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11.4 Industry risks
12 Vendor Analysis
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12.1 Vendors covered
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12.3 AB Electrolux
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12.4 Breville Pty Ltd
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12.5 Dyson Group Co.
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12.9 Hitachi Ltd.
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12.11 MIDEA Group
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12.13 Robert Bosch GmbH
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12.15 TEKA INDUSTRIAL SA
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12.17 Whirlpool Corp.
13 Appendix
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13.1 Scope of the report
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