Ocean View, DE -- (SBWIRE) -- 06/18/2020 -- Electric household appliances market forecast will be majorly propelled by smart appliances with advanced features that are specifically designed to provide high-level comfort and reduce manual work. The global electronic appliances manufacturers are directing rigorous efforts towards developing automatic and smart devices by incorporating electronics with intellectual sensors.
The industry growth has been fueled by the rise in disposable incomes of consumers, which has certainly improved their spending capacity. Nowadays the modern electrical equipment is manufactured for adapting well to zero emissions targets, and are not only cost-effective and efficient but also provide complete safety.
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The industry growth can be credited to the rise in disposable incomes in several countries, which has enhanced the consumer's spending capacity. Presence of these appliances is making consumers everyday life easier owing to which they are willing to spend more, thereby propelling the electric household appliances market revenue.
Built-in electric appliances are expensive than the freestanding units and can fit into limited spaces. However, with rising disposable income, the overall shipment volume is anticipated to grow. An increase in the total households of single and two-person will be an important factor driving the growth of electric household appliances market. High demand for the replacement of obsolete appliances will provide widespread array of prospects for the industry.
Growing investments in R&D activities to deliver energy efficient and technologically advanced appliances is making the consumers more inclined towards such appliances. Moreoever, rising urbanization and residential events in several countries will the surge the electric household appliances market demand. The demand for low cost appliances with more functionality is the criteria used by the consumers while buying an appliance.
Rising urbanization, demand for energy-efficient appliances, and high capita income are characterizing the U.S. electric household appliances market. There is also an inclination toward connected appliances to deliver more convenience and user-friendly experiences for the consumers in the region. In addition, increasing awareness about home automation will escalate the industry demand.
Cooking appliances segment are designed for countertops and will witness high growth in several regions. These appliances are less expensive and are being used for several purposes. They are gaining popularity owing to lifestyles changes of consumers and technological advancements in appliances which has catalyzed the growth of electric household appliance market. In the electric household appliances market, consumers are valuing high quality, design and convenience rather than prices.
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Key players participating in electric household appliances market include Panasonic Corporation, V-Guard, Toshiba Corporation, Siemens AG, Haier Group, Sharp Corporation, AB Electrolux, Samsung Electronics Co., Ltd., Whirlpool Corporation.
Table of Contents (ToC) of the report:
Chapter 4 Electric Household Appliances Market, By Product
4.1 Electrical household appliances market share by product, 2016 & 2024
4.2 Refrigerators & Freezers
4.2.1 Refrigerators & freezers market, by region, 2013 – 2024 (USD Billion)
4.3 Washers & Dryers
4.3.1 Washers & dryers market, by region, 2013 – 2024 (USD Billion)
4.4 Dishwashers
4.4.1 Dishwashers market, by region, 2013 – 2024 (USD Billion)
4.5 Room Air-Conditioners
4.5.1 Room air-conditioners market, by region, 2013 – 2024 (USD Billion)
4.6 Cooking Appliances
4.6.1 Cooking appliances market, by region, 2013 – 2024 (USD Billion)
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