Major home appliances include appliances such as refrigerators, freezers, washing machines, dishwashers, cookers and ovens, and others. The demand for major home appliances has increased among urban households, as household appliances help save time, simplify work, and increase the comfort level. The lifestyle of people has changed mainly due to a tremendous increase in the number of working women. The improved standard of living, growth in disposable income, and rise in buying power of consumers are projected to boost the penetration of major home appliances, thereby driving the Japan major home appliance market appliances. In addition, the propensity of consumers toward eco-friendly and energy-efficient appliances further boosts the growth of Japan major home appliance market.
The Covid-19 pandemic has a vital impact on the growth of the Japan major home appliance market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The demand for smart appliances such as refrigerators, washing machines, and more has increased due to the COVID-19 pandemic, as most of the population is working from home, thus spending more time at home requires many appliances that can complete tasks fast as compared to traditional methods. The pandemic has brought in a permanent shift in consumer buying behaviour pushing them towards online.
Key Market Trends
Increasing Online Sales is Driving the Market for Home Appliances
Japan is one of the leading global e-commerce markets with companies selling products from various domains including home appliances, consumer electronics, and furniture. Expanding urbanization and increasing online sales are contributing fundamentally to the development of Japan's major home appliances market. Customers prefer online buying due to the convenience and comfort of logistics and shipping of furniture items to their doorstep. The major retailers are creating a strong online brand presence and increase their sales with online stores and e-commerce portals.
Refrigerator Segment is Driving the Market
The refrigerator market is the major contributor to Japan's major home appliance market. Refrigerators are used to preserve edible items at a range of different temperatures and the introduction of advanced refrigerators provided with smart technologies is expected to drive the market in the future. Consumers are giving much importance to home-cooked food to cut on their sugar, salt, and fat consumption. Consumers preferring healthy eating habits and hygienic environment conditions have led to the sale of more advanced and large volume refrigerators. The demand for refrigerators is primarily driven by the residential sector and improved standards of living thus led to demand for major home appliances market in Japan.
The report covers major international players operating in the Japan 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.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5.1.4 Washing Machines
5.1.5 Cookers and Ovens
5.2 Distribution Channel
5.2.1 Multi-brand Stores
5.2.2 Exclusive Stores
5.2.4 Other Distribution Channels
6.2 Company Profiles
A selection of companies mentioned in this report includes: