Electric Household Appliances - Global Market Trajectory & Analytics

Amid the COVID-19 crisis and the looming economic recession, the Electric Household Appliances market worldwide will grow by a projected 347.6 Thousand Units, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.2%. Major Household Appliances, one of the segments analyzed and sized in this study, is forecast to grow at over 3.6% and reach a market size of 999.8 Thousand Units by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Major Household Appliances market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 2% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 8.3 Thousand Units to the region's size over the next 7 to 8 years. In addition, over 8.7 Thousand Units worth of projected demand in the region will come from Rest of the European markets. In Japan, the Major Household Appliances segment will reach a market size of 49.9 Thousand Units by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Electric Household Appliances market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 6.4% over the next couple of years and add approximately 114.6 Thousand Units in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Electric Household Appliances market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

AB Electrolux, GE Appliances, Groupe SEB, Haier Group, Hamilton Beach Brands Inc, Hitachi Appliances Inc, Jarden Consumer Solutions, LG Electronics, Miele & CIE, KG, Mitsubishi Electric Corp, Panasonic Corp, Samsung Electronics Co, Ltd, Whirlpool Corp.