World Market for Major Appliances

The major appliances market saw a challenging 2023 in volume terms as consumers continued to scale back. However, industry innovations kept many interested, keeping healthy value sales. Innovations in AI, advances in interoperability between appliances and energy efficiency are set to positively impact the major appliances market.

Examining Five Trends Shaping Major Appliances

The next stage for smart home is cross-operability and active use of smart tech

The adoption of smart appliances have been moderately fast but pushed by manufacturers rather than consumers. To attract consumers’ interest in smart tech and promote active searching for it, marketing of AI-powered appliances offers a window of opportunity, if the easing of everyday chores is explained. One of the biggest barriers continues to be interoperability between devices, where industry standards HCA and Matter are expected to make a difference provided manufacturers proactively release compatible models.

Home as a Service coming to appliances as manufacturers look for new sources of revenue

Already common in electronics, manufacturers are looking for new revenue streams coming from software rather than selling its own products. The concept Home as a Service is being tested more in appliances, from offering post-sale services such as downloadable programmes or repair services to offering appliance rental. As consumers become gradually more open to rental and subscriptions model, this is an impending trend in appliances.

Claims on sustainable materials and durability appreciated even in times of considered purchases

Marketing of durability or innovative materials is nothing new in consumer appliances, but with budgets being squeezed for many, we expect to see more considered spending, while being more receptive towards claims about durability and repairability. Customers also generally trust green labelling and increasingly consider it when making discretionary purchases, making it a smart premiumisation strategy in major appliances.

Personalisation as a way to upsell and allow greater accessibility

Personalisation has come a long way in major appliances, and now expands beyond simply allowing design choices such as colour of an appliance. The spread of AI-enabled functions opens doors to fully personalised programmes, learning patterns of usage and adjusting this for the needs of the individual. Emerging trends also include assistive technologies, thus making consumer appliances more accessible for the elderly and consumers with disabilities. Appliance manufacturers have a great opportunity in this area, as the average lifespan lengthens.

Home management systems pushed  by appliance manufacturers as a response to the energy crisis and automation

To level up energy efficiency and automation, manufacturers have reacted by focusing on home energy management systems (EMS) as seen at IFA23 in Berlin. EMS will allow customers to manage the energy of the entire home, interconnecting appliances and bringing energy benefits by monitoring all as one ecosystem. Consumers are also more receptive towards energy saving-related products and claims after spikes in energy prices.

The World Market for Major Appliances global briefing offers a comprehensive guide to the retail sales data, allowing you to identify the sectors driving growth. The report also identifies the leading companies/brands and offers strategic analysis of key factors influencing the competitive landscape - be it new product developments, technological innovations, economic/lifestyle influences, distribution or pricing issues. Additionally, trade statistics and producer’s shares will answer questions on where appliances are produced and where they are being exported to, how quickly these units are moving, which companies are producing how much, and whether all categories are behaving in the same way. Collectively, this gives a complete view in both marketing and production planning strategies. Forecasts illustrate how the market is set to change.

Product coverage: Major Appliances, Small Appliances.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Consumer Appliances market;
• 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.