INDUSTRY REPORT
Sustainability ; resource-efficiency ; connectivity and circularity are key pillars of development for the global home appliance market
for comfort are major factors driving the growth of the household appliances market . The demand for various advanced household appliances is rising owing to rising consumer expenditure on home improvement products . The easy availability of numerous brands and products at supermarkets and other retail formats has significantly contributed to the growth of the market ,” it added .
The growing penetration of various distribution channels ( such as specialty stores , brand outlets , e-commerce and supermarkets ) is significantly contributing to the growth of the global household appliances market . The sedentary lifestyle of consumers and busy and hectic schedules has significantly propelled demand for household appliances such as dishwashers , washing machines and mixer grinders .
“ Employed people have less time to indulge in household chores regularly and hence prefer automatic appliances to reduce manual efforts and save time . The integration of various novel technologies in the household appliances such as artificial intelligence , AR / VR , the Internet of Things and robotics is expected to boost the growth of the global household appliances market significantly in the upcoming future ,” added the analyst .
disposable income , increasing affordability due to easy financing options and the growing number of nuclear families across the globe are some of the major factors that have led to the growth of the refrigerators ’ segment . The easy availability of energy-efficient and a wider variety of refrigerators ( such as single-door , double-door and French-door refrigerators ) are contributing to the growth of the refrigerator segment significantly . Rising investments in research and development by major market players to develop eco-friendly refrigerators are expected to offer numerous growth opportunities in the near future ,” explained Persistence Market Research .
On the other hand , small appliances are expected to be the fastestgrowing segment during the forecast period . The small appliances segment is sub-categorised into food processors ; grills and roasters ; tea / coffee makers ; vacuum cleaners and others . The growing demand for small appliances for various daily routine tasks is a major factor that drives the growth of this segment . The easy availability of small
Segments and products
Based on product , the global household appliances market was dominated by the ‘ Major Appliances ’ segment in 2021 . The major appliances segment is further categorised into freezers ; refrigerators ; washing machines ; dishwashers ; air conditioners ; ovens and others .
“ The refrigerators segment was the dominating segment in the global household appliances market . The easy availability of refrigerators , rising
Air conditioning unit ( image : Naomi Hebert , Unsplash ).