Sagar Gunjal's blog

Consumer Appliances Market: Overview With Geographical Segmentation & Revenue With Forecast 2022 to 2029

Sagar Gunjal's photo
Sagar Gunjal
·

3 min read

In contrast to the US$ 383.8 billion recorded in 2021, the consumer appliances market is expected to reach US$ 539.9 billion by the end of 2029. The market is growing as a result of rising demand for innovative, creative technologies that make daily tasks easier.

Future Market Insights provides a comparison and review analysis of the dynamics of the consumer appliances market, which is primarily associated with a surge in investment in the construction of smart homes in developed countries such as the United States, Japan, and Germany. Demand for innovative consumer goods and connected devices, such as smart kitchen appliances, is rapidly increasing in the household sector, assisting the market's expansion.

Download a Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-10083

2014-2021 Consumer Appliances Market Outlook in Comparison to 2022-2029 Growth Forecast

Over the past few years, the consumer electronics industry has witnessed rapid transformation with the launch of novel appliances such as food processors, kitchen appliances, home appliances, and others. Driven by this, the global consumer appliances market totaled US$ 383.8 Billion in 2021, growing at a CAGR of 3.9% between 2014 and 2021.

Increasing availability of devices enabling automation of day-to-day activities is drastically changing consumer preferences from general single-purpose electronic products to multi-purpose smart devices.

As a result, leading consumer appliances manufacturers are increasingly focusing on developing novel multi-functional appliances devices to meet the surging demand. Driven by this, the sales in the global consumer appliances market are anticipated to spur at a CAGR of 4.3% during the forecast period.

Demand for advanced consumer appliances products and connected devices such as smart kitchen appliances is rapidly increasing in the household sector owing to surging investment towards building smart homes across developed countries such as the U.S. Germany, and Japan. This also is favoring the growth in the market.

Against this backdrop, key players in the market are increasingly investing in research and development activities for launching novel devices integrated with technologies such as artificial intelligence and the internet of things.

Competitive Landscape

Leading consumer appliances manufacturers are increasing investing in research and development activities for launching novel products to gain competitive edge in the highly competitive market. For instance,

In October 2018, LG Electronics Co. Ltd., a South Korea-based consumer electronics giant, announced expanding its product portfolio by introducing InstaView door-in-door refrigerators, featuring a glass panel that illuminates the refrigerator interior with 2 soft knocks on it. This has assisted the company to strengthen its position in the market.

Get More Information on this Report @ https://www.futuremarketinsights.com/reports/consumer-appliances-market

Consumer Appliances Market by Category

By Product Type:

  • Kitchen Appliances

  • Small Appliances

  • Washing Machine

  • Air Purifiers

  • Water Heaters

  • Water Purifiers

  • Cloth Dryers/Tumbler

  • Air Conditioners

  • Vacuum Cleaners

By End Use:

  • Domestic

  • Professional

    • Hotels

    • Salon & Grooming Parlours

    • Cafeteria & Restaurants

    • Offices & Institute

    • Others

By Sales Channel:

  • Offline

    • Organized Retailer

    • Unorganized

  • Online

    • Company Direct Sales

    • Independent Vendor/E Commerce

By Region:

  • North America

  • Latin America

  • Europe

  • South Asia

  • East Asia

  • Oceania

  • Middle East and Africa

Consumer Appliances Market