INDUSTRY REPORT
The refrigerator segment was the dominating segment in the global household appliances market
Image : Raychan , Unsplash .
appliances at affordable costs and rising standards of living are some of the major drivers of the small appliances ’ segment .
Distribution channels
“ Based on the distribution channel , the specialty store segment dominated the global household appliances market in 2021 . The huge presence of various multi-branded and mono-branded consumer electronic stores across developed and developing regions and the higher popularity of these stores among consumers has led to the dominance of this segment in the market . The availability of a wide range of products and brands along with the special discounts and guidance provided by salespeople in the stores makes the buying process and installation process easier for the consumers . The growth of this segment has therefore propelled significantly in the past few decades ,” outlined the analyst .
On the other hand , e-commerce is expected to be the most opportunistic segment during the forecast period . The most prominent factors driving the growth of the e-commerce segment in the global household appliances market are :
■ The rising adoption of smartphones .
■ The growing penetration of the internet .
■ Rising investments by manufacturers in digital distribution channels .
■ Huge discounts , easy return and replacement policies of e-commerce platforms .
■ Rapid home delivery .
Regional insights
Image : Shutterstock . com .
“ Asia Pacific was the leading household appliances market in 2021 . The region has a huge consumer base due to the presence of a huge population . Strong economic growth ; a growing urban population ; rising government investments in the electrification of rural areas ; the greater number of nuclear families and rising standards of living are the prominent drivers of the Asia Pacific household appliances market . Rising consumer awareness on the availability of technologically advanced appliances and growing demand for energy-efficient appliances is expected to further fuel the growth of the market . Asia Pacific is home to the world ’ s leading producers of household appliances and .... facilitates the production of cheap and efficient household appliances in the region ,” explained Persistence Market Research .
North America is a mature market for household appliances . High disposable incomes ; a strong digital and electrical infrastructure ; strong living standards and higher demand for technologically advanced appliances in the region have fostered the growth of the household appliances ’ market in North America . The busy and hectic lifestyle of