Small Domestic Appliances Market to Expand at CAGR of 5.8% During Forecast Period, Observes TMR Study

- Firms in the small domestic appliances market are focusing on the sophisticated image processing technology, as this technique is critical for obstacle identification

- Rapid adoption of Internet services throughout the world has led to increase in online sales, thereby creating an opportunity for small domestic appliance makers

ALBANY, N.Y., March 24, 2022 The global small domestic appliances market is likely to develop a CAGR of 5.8% during the forecast period, from 2020 to 2030. The global market is estimated to attain the valuation of US$ 67.9 Bn by 2030.Factors such as expanding middle class population, discretionary money, and better goods are likely to drive the global small home appliances market in the years to come. Urbanization and rapid industrialization play an important role in boosting economic growth all over the world. The trend of adopting multifunctional appliances to replace conventional appliances is likely to support the growth of the global small domestic appliances market.

In order to minimize any complaints or disagreements about appliances, firms in the global small domestic appliances market are training customers about how to operate air purifiers properly. As they self-quarantine after coming home, a rising number of healthcare professionals are opting for air purifiers. This factor is likely to propel the demand for compact household appliances.

With the development of AI (artificial intelligence) in floor care applications, the small home appliance industry is undergoing substantial transformation. Roborock has confirmed the release of the Roborock S6 MaxV, an intelligent vacuum cleaner featuring an AI-enabled stereo camera and superior collision avoidance capabilities. When it comes to compact household appliances in the realm of floor care applications, connectivity efficiency and the AI technology go hand in hand. As this technology recognizes typical robot trapping barriers, the smart robot technology in vacuum cleaners allows users to clean floors with fewer concerns than before.

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Key Findings of Market Report

• The sophisticated laser technology is being utilized in the development of next-generation autonomous vacuum cleaners, which is raising the benchmark for navigational cleaning equipment. Another important feature for firms in the global small domestic appliances market is the sophisticated image processing technology, which plays a significant role in detection of obstacles.
• Air fryers, which alleviate the problem of unpleasant fragrance in fried dishes, are being developed by firms in the global market. It is a hot air circulation system that requires little to no oil in cooking, which appeals to health-conscious clients. Air fryers that can cook many items at once are being developed by small domestic appliance makers.
• Among high-income groups, coffee machines have become a status symbol. As a result, coffee machine makers are incorporating new technology into their products. For instance, Slayer Espresso has mastered their unique needle-valve technology, which allows consumers to regulate the flow of the coffee they create. Companies are expanding their production capacities in order to build dependable push-button volumetric machines that can handle enormous volumes of coffee in cafés and commercial offices.
• In the global small domestic appliances market, handheld garment steamers are becoming increasingly popular. As a result, there is a growing need of steamers that can iron even the most challenging textiles. This need has fuelled advancements in clothing care small appliances.

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Global Small Domestic Appliances Market: Growth Drivers

• Cold-pressed juices are becoming increasingly popular among millennial, and they are one of the main growth drivers for the global small domestic appliances market. As a result, small home appliance makers are beefing up their R&D capabilities in order to provide strong engines in juicers that save energy. Buyers find it simpler to provide product evaluations and comments on e-Commerce platforms, which improve the reputation of the product and its manufacturer. Quieter and more durable juicers are gaining a lot of attention.
• Portable steamers include electric pumps that provide automated steam delivery for simple and speedy de-wrinkling of textiles. Garment steamers with such features are likely to boost the development of the global small domestic appliances market. Customers favor single-switch operations, as they provide effective horizontal as well as vertical steaming.

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Global Small Domestic Appliances Market: Key Players

Some of the key market players are

• Koninklijke Philips N.V.
• Candy Hoover Group Srl
• Stanley Black & Decker, Inc.
• Morphy Richards
• Robert Bosch GmbH
• Kenwood Limited

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Global Small Domestic Appliances Market: Segmentation

Product Type

• Kitchen Appliances
• Floor Care Appliances
• Garment Care Appliances
• Other Appliances

End Use

• Residential
• Commercial

Distribution Channel

• Online
• Offline

Browse Latest Consumer Goods and Services Market Research Reports by TMR:

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