The Canadian home appliance market is witnessing a robust growth phase, primarily driven by a wave of innovation. As younger demographics amass greater wealth, their preferences tilt toward energy-efficient appliances, ones that consume less electricity and water. Additionally, there is a rising demand for appliances that offer both versatility and a touch of elegance.
Canada is also seeing an increase in high-net-worth individuals who are buying more smart appliances as part of their smart home/home automation strategies. This is helping drive the growth of the smart kitchen appliances market in Canada. In addition, the trend of replacing traditional appliances with modern and smart appliances is increasing the adoption of smart kitchen appliances across the United States, Canada, and Mexico.
The home appliance market in Canada is growing due to the increasing number of women in the workforce, urbanization, and product innovation. The rising demand for automatic washing machines makes up more than 50% of the domestic appliance market, followed by low or non-refrigerator washing machines and irons.
With a growing reliance on online reviews and product comparisons, consumers are turning to e-commerce platforms to purchase home appliances. Retailers are swiftly expanding their online presence and bolstering their delivery services. To cushion the pandemic's blow, the Canadian government rolled out several economic stimulus packages and financial aid programs aimed at supporting both businesses and individuals. These measures effectively bolstered consumer spending power, mitigating some of the market's negative impacts.
Canada Home Appliances Market Trends
Small Home Appliances are Dominating the Sales Volume of the Market
The small kitchen appliances segment of the market studied is poised for significant growth, driven by competitive pricing, a relatively untapped market, advancing innovation, and improved functionality. Small kitchen appliances hold a market share of 17% to 21% in the household appliances industry across the world. The introduction of cutting-edge offerings, notably smart kitchen appliances, is expected to further fuel this growth.Technological advancements in the consumer appliances industry are propelling the global demand for small kitchen appliances, including smart coffee makers, air fryers, and induction cooktops. Moreover, the consumer electronics sector, particularly in Canada, is primed for substantial growth in the coming years.
Canada's Smart Home Industry is Driven by IoT and Connectivity
Canada's advanced infrastructure and widespread adoption of the Internet of Things (IoT) position it well for smart device integration in homes. This intelligent home ecosystem relies on extensive connectivity, allowing users to manage smart appliances, security systems, and energy consumption while monitoring their environmental impact. The smart home industry in Canada is influenced by the growing environmental awareness among consumers.The smart home appliance industry is expanding, primarily due to increased demand for Wi-Fi-based technologies. These Wi-Fi-enabled appliances allow users to control and monitor devices remotely. Equipped with sensors and connected to Wi-Fi networks, these appliances enable users to manage their homes via smartphones, regardless of their location.
Canada Home Appliances Industry Overview
The Canadian home appliance market is fragmented. While the market does have some room for new entrants, the newcomers can carve a niche by focusing on high-quality small appliances. Meanwhile, the established players can bolster their market share by introducing innovative offerings. Noteworthy players in the market include Whirlpool Corporation, Electrolux AB, Samsung Electronics, Panasonic Corporation, and LG Electronics.Additional Benefits:
- The market estimate (ME) sheet in Excel format
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Whirlpool Corporation
- Electrolux AB
- LG Electronics
- Samsung Electronics
- Panasonic Corporation
- Haier Electronics Group Co. Ltd
- Robert Bosch GmbH
- Viking Range, LLC
- Kenmore
- Other Companies (Danby, Hamilton Beach Brands Inc., and Black+Decker Inc.)*
Methodology
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