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Domestic Electrical Appliances in Sweden
Euromonitor International, Dec 2007, Pages: 102
Our Domestic Electrical Appliances in Sweden report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2001-2006), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, format trends or distribution issues. Forecasts to 2011 illustrate how the market is set to change.
Product coverage: large kitchen appliances (dishwashers, refrigerators, home laundry appliances, cooking appliances, microwaves) and small electrical appliances (microwaves, food preparation appliances, small cooking appliances, vacuum cleaners, irons, hair care appliances, shavers, oral hygiene appliances, heating and cooling appliances)
Data coverage: market sizes (historic and forecasts), company shares and brand shares.
Why buy this report?
- Get a detailed picture of the domestic electrical appliances industry;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Executive summary
By the end of 2006 the market for domestic electrical appliances in Sweden experienced another year of significant growth both in value and volume terms. Growth is being driven by a strong and stable economy, a sustained increase in the number of households, and consumers being prepared to spend a greater proportion of their disposable income on home improvement.
Strong and stable economy provides a platform for growth
The Swedish economy having performed strongly for several years remains stable. As a result, consumer confidence is high, and unemployment (5%) and interest rates are low. The new conservative government came to power in October 2006 and had already delivered cuts in taxation by 1 January 2007. Further cuts over the next two years have been promised. This will increase disposable income levels and is likely to help sustain the development of the domestic electrical appliances market.
Continued growth in housing market fuels growth
New build apartment projects were up 39%in value in 2006 in comparison to the previous year. This has further strengthened Sweden’s position as the country with the highest number of single households in Europe. The strong economy contributed to a strong housing market, which, in turn, resulted in driving up house prices by an average of 11% over 2005 levels. This apparent increase in personal wealth and the stable economy have provided consumers with the confidence to invest in major home renovation projects, the most popular of which is to renovate the kitchen. This helped to drive unit growth for domestic electrical appliances and to an even greater extent, value growth, with consumers upgrading to more premium appliances with improved design and functionality.
Sales of kitchen appliances drives value growth
The stable economy is also giving consumers the confidence to invest in their homes as an expression of themselves and their lifestyle. The kitchen became the centre of the home and as such, kitchen appliances are playing an ever-more important role. With higher disposable income the pressure to cook at home is less and as such, cooking is often viewed as more of a hobby than a chore. The kitchen therefore needs to have the right tools in order to maximise enjoyment. This is driving the demand for products with higher levels of functionality and attractive designs. The net result is an increase in the average price per unit purchased.
More focus on research and development as manufactures stabilise consumer prices
A growing number of appliances for the Western European market are produced in countries such as Poland, Hungary, Romania and Turkey. This is allowing manufacturers to maintain consumer prices despite rapidly increasing raw material costs. In time, production costs for the major producers will equalise, due to similarities in scale, purchasing power and manufacturing costs. This will mean that throughout the forecast period manufacturers will focus ever-more towards product development, marketing and brand-building in order to maintain competitive advantage.
AB Electrolux continues to be the market leader
AB Electrolux is the top company in the overall large appliances market, with a leading position in the each of the largest categories. Other major players which are active in the major market sectors are BSH Hushållsapparter (Bosch-Siemens), Asko Cylinda and Whirlpool.
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