Australia Home Appliances Market - Growth, Trends, and Forecasts (2020 - 2025)

The Australian home appliances market offers a steady and promising growth, owing to factors, like rapid rise in the current population, which is leading to the rapid growth of real estate to accommodate the rising population. This is leading to innovation in either new products for the new homes or replacement sales for the existing appliances in the market. The day-to-day changing technology is trying to cope with the dynamic needs of customers. Technological advancements, ie., the innovations that the manufacturers bring into product improvement, are boosting the market for replacement sales. The high younger customers group prefers product designs, considering the attractiveness the product holds, the ease of operation, automation, and customization it holds, along with the multi-utility of the product. With the changing environmental conditions, customers also prefer the energy and water-efficient appliances for their homes. By capturing millennials' interest and understanding their preferences, manufacturers are trying to invest higher amounts in innovation. The digital moving world is enhancing the growth of the online sales ratio higher than ever before in this region. The home appliances market in Australia holds a greater scope for online purchases too. The e-commerce penetration, the virtual reality tours, and the online stores offering explains the interest that manufacturers or marketer showing imply the importance that companies are giving to customer satisfaction.

Key Market Trends

Increasing Smart Appliances Penetration is Driving the Market

Manufactures are giving greater importance to dynamic changes that are occurring in the consumer’s preferences. Innovation in product development, adoption of the latest technology, such as the Internet of Things (IoT) and Artificial intelligence (AI), are driving the market. The smart homes concept, increasing popularity for digital connectivity of all the appliances, and AI and IoT functionalities on appliances connected through the internet are key elements that the customers are looking forward to. Diminishing levels water reserves across the world are shaping the market for washing machines with low water utilization.

Air Conditioner Segment is Driving the Market

The Australia air conditioning market is estimated to grow at a modest growth rate during the forecast period. Some of the motivating factors of the market include large desert areas in the country which results in heatwaves, which generates a significant need for air conditioning in the country. Moreover, high disposable income in the country is also a major factor due to which people can afford the air conditioning system in the country. Result of this, the residential sector is expected to have a significant market share during the forecast period. Growing real estate and accelerating industrialization, increasing electricity costs, rise in power consumption by air conditioners is being compensated using energy-efficient air conditioners, thereby, fueling the air conditioners market in the country.

Competitive Landscape

The report covers major international players operating in the Australia home appliances market. The Australian home appliances market is a saturated market, with a low chance for newcomers to enter, unless they make a huge change in the products they offer. The market is highly competitive, with many players competing with each other in the way they serve the customer base.

Reasons to Purchase this report:

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