Europe Major Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Major home appliances hold a major share of the household appliances market in Europe. Major home appliances include a fridge, microwave ovens, water heater appliances, and dishwashers. Growing competition and increased consumer demand for innovative products are expected to drive the growth of the major home appliances market in Europe. The product innovations introduced are in terms of technology, performance, features, and design. Customers also look for home appliances that can perform multiple tasks with minimal resources. Thus the growing demand for innovative and advanced products driven the demand for and popularity of multifunctional home appliances in Europe. The growing purchasing power, increasing disposable income among the customers and changing style trends in the home appliances has propelled the demand for home appliances market in Europe

Key Market Trends

Growth in Smart Appliances is Driving the Market

Smart home appliances include refrigerators, air conditioners, dishwashers, washing machines, and others. These smart appliances have a huge growth potential especially in major European markets including Belgium, France, Ireland, the UK, Austria, Finland, Denmark, Germany, the Netherlands and Sweden. Factors such as the rising need for energy-efficient appliances, and demand for comfort, coupled with high spending capability of end-users is driving the demand for home appliances. The main driving factor behind the fast adoption and growth rate of smart home appliances in the European market include universal access to high speed internet, introduction of smart meters, energy efficiency and energy savings.

Germany is one of the Leading Countries for Major Home Appliances in the Region

Germany is the most important producer of home appliances in Europe. The home appliances have been classified into two classes, Major home appliances, and small home appliances. The market has witnessed growth in the major household appliances sector prominently. The factors responsible for the growth of major home appliances in Germany could be due to the improving lifestyles of consumers, improvement in the purchasing power, and migration of rural population to the urban areas. The home appliances market in Germany is extremely competitive and fragmented due to the presence of both multinational and local players across the country.

Competitive Landscape

The report covers major international players operating in the Europe Major Home Appliances Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support