Consumer Appliances Market is Expected to Grow at a CAGR of Approx. 4% During the Forecast Period of 2019 to 2029- Future Market Insights

News provided by

Jul 30, 2019, 10:30 ET

VALLEY COTTAGE, New York, July 30, 2019 /PRNewswire/ -- Future Market Insights (FMI), in its new study, analyzes the consumer appliances market and offers actionable insights on its growth prospects for the period 2019 and 2029. According to the study, worldwide sales of consumer appliances reached 1.27 billion units in 2018, and are estimated to register a Y-o-Y growth of 3.7% in 2019. The study opines that the impact of smart technologies is being witnessed in the market, with many players launching connected and smart devices to meet consumer expectations.

Rapid digitalization and strong knowledge regarding use and efficiency of modern appliances have been largely contributing to the market growth. Steady economic growth in several countries and rising need for comfort are influencing consumers to upgrade their existing appliances to smarter variants. In addition to providing convenience, reducing manual efforts, and saving time, manufacturers are focusing heavily on product innovations to satisfy the evolving needs of their customers.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-10083

Technology is surely bringing a paradigm shift in consumer appliances industry, and FMI's study analyzes that stakeholders are helping consumers achieve their energy conservation goals through green technologies and sustainable-centric innovations. Impressive developments in smart connectivity area are also set to gain momentum in the coming years, representing a substantial competitive advantage for the market players.

White Goods Capture Robust Share over Brown Goods

According to the study, white goods such as refrigerators, washing machines, and air conditioners have garnered relatively high traction as compared to brown goods. In recent times, these products have become standard in almost every household, backed by availability at affordable prices. Additionally, provision of smart connection in white goods, along with fast urbanization and rural electrification, especially in developing economies, remained instrumental in accelerating the overall sales of consumer appliances. Far from being confined to bigger appliances, manufacturers are also working on incorporating robotic technologies in small appliances to provide user-friendly interface and enable ease of operations.

Preview Analysis Global Consumer Appliances Market Segmentation By Product Type (Kitchen Appliances, Small Appliances, Washing Machines); By End User (Domestic, Professional); By Sales Channel (Offline, Online): https://www.futuremarketinsights.com/reports/consumer-appliances-market

As smart homes become a reality all over the world, the FMI study opines that demand for consumer appliances from households or domestic segment will continue to grow at a significant pace. Introduction of technologically advanced models which can be connected to smartphones and controlled remotely along with rise in per capita income is likely to remain a key to gaining distinct competitive edge.

Opportunities galore for consumer appliances market stakeholders, as identified by FMI study with growing working population and rapid infrastructural development, resulting into increasing number of hotels, salon & grooming parlors, and quick service restaurants (QSRs).

According to the study, growth prospects of the consumer appliances market are high in Europe, owing to strong presence of reputed brands which continuously focus on fulfilling consumers need for appliances that can perform maximum tasks with minimal resources. Newer opportunities are expected in Asia Pacific stemming from a number of trends such as increased purchasing power, growing middle class population, advances in digital transformation, and favorable government policies that encourage the use of energy-saving appliances.

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-10083

As the importance of internet increases and e-commerce sites see an upsurge, stakeholders are implementing omni-channel marketing strategy to reach wide range of customers across the globe. According to the study, sales of consumer appliances through online sales are likely to register a CAGR of 4% during the forecast period.

FMI's business intelligence offers an incisive outlook on competitive scenario of consumer appliances market by discussing key strategies adopted by the players. The market shows a high level of fragmentation, with a large number of regional and local players restricting the geographical expansion of international companies. Prominent players are thus focusing on strategic collaborations and joint ventures for increased production capacities and enhanced customer base.

Buy Full Consumers Appliances Market Report: https://www.futuremarketinsights.com/checkout/10083

More from FMI's Industrial Automation & Equipment Market Intelligence:

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More Industrial Automation & Equipment Market Insights

Contact Us

Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44 (0) 20-7692-8790
Sales: [email protected]
Press Office: [email protected]
Blog: http://www.keepfacts.com
Website: https://www.futuremarketinsights.com/