Japan Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021 - 2026)

Japan is one of the leading markets for home appliances. Improvement in economic conditions and an increase in disposable income are substantial factors that propel the Japanese household appliance market growth. Improved lifestyles and a rise in the buying power of consumers are the major impacts of high disposable income. Household appliances have become an integral part of our daily chores. A substantial number of consumers with high disposable income have been spending on household appliances including premium & smart appliances. Increase in a technologically advanced, rapid urbanization, growth of the housing sector, rise in per capita income, improvement in living standard, a surge in need for comfort in household chores, changes in consumer lifestyle, and escalation in a number of smaller households are the key factors that drive the growth of the Japan household appliance market.

COVID-19 continues to make an impact on a global level through travel restrictions, quarantines, and a heavy disruption to the economy. Facing the epidemic situation, many countries will have a common problem, and Japan is no exception. Working from home was not well accepted in Japan’s traditional business culture. Due to COVID-19, so many people started working from home for the first time, resulting in demand for home appliances. The burden of household chores has increased during COVID-19, and appliances that help people save time will benefit. Fully automated combination washing machines, dryers, and automatic dishwashers are in demand.

Key Market Trends

Smart Appliances are Driving the Market

Japan's smart appliances market is witnessing rapid growth. A substantial number of consumers with high disposable income have been spending on household appliances including premium & smart appliances. Home appliances available in the market are already smart in a way as they are being controlled through microcontrollers; however, the ability to connect to the Internet will make them smarter. Smart appliances are designed in such a way that they can communicate information directly to the service operator for efficient and productive use of electricity. These appliances are also known as intelligent appliances as they can measure and control their energy usage. IoT (Internet of Things) is an emerging trend in the market and smart appliances are a subset of IoT. The IoT helps integrate digital and wireless technologies in-home or kitchen appliances.

Increase in the Working Population

In the past few years, the lifestyle of the populace has changed mainly due to the tremendous increase in the number of the working population. This has led to an increase in household income and improvement in living standards. Since both the family members (husband & wife) are busy with office work, they get less time to complete household chores. This has necessitated the use of various equipment that helps carry out daily household chores. The usage of household appliances helps households to save time for themselves as well as serve effectively in their workplace. An increase in the working population, Improvement in economic conditions, and an increase in disposable income are substantial factors that propel the Japanese household appliance market growth.

Competitive Landscape

The report covers major international players operating in the Japan 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