Household Appliance Market Identifies AB Electrolux, Haier Smart Home Co. Ltd., and Hitachi Ltd. as Key Vendors | Technavio

Technavio has been monitoring the household appliance market and it is poised to grow by USD 21.76 billion during 2020-2024, progressing at a CAGR of almost 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Technavio has announced its latest market research report titled Global Household Appliance Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the household appliance market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.

Frequently Asked Questions:

• Based on segmentation by Product, which is the leading segment in the market?
  
  Major household appliances
  
  
• What are the major trends in the market?
  
  Increased adoption of integrated smart home technology
  
  
• At what rate is the market projected to grow?
  
  The market is projected to grow at a CAGR of almost 1% during 2020-2024.
  
  
• Who are the top players in the market?
  
  AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., Midea Group Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, and Whirlpool Corp. are the top players in the market.
  
  
• What are the key market drivers and challenges?
  
  The market is driven by product innovation and advancement. However, fluctuations in raw material prices and operational costs will challenge growth.
  
  

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., Midea Group Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, and Whirlpool Corp. are some of the major market participants. Although product innovation and advancement will offer immense growth opportunities, fluctuations in raw material prices and operational costs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this household appliance market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Household Appliance Market 2020-2024: Segmentation

Household Appliance Market is segmented as below:

• Product
  • Major Household Appliances
  • Small Household Appliances
• Distribution channel
  • Offline
  • Online
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44899

Household Appliance Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The household appliance market report covers the following areas:

• Household Appliance Market Size
• Household Appliance Market Trends
• Household Appliance Market Industry Analysis

This study identifies the increased adoption of integrated smart home technology as one of the prime reasons driving the Household Appliance Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Household Appliance Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist household appliance market growth during the next five years
• Estimation of the household appliance market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the household appliance market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of household appliance market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019-2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Major household appliances - Market size and forecast 2019-2024
• Small household appliances - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2019-2024
• Online - Market size and forecast 2019-2024
• Market opportunity by Distribution channel

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AB Electrolux
• Haier Smart Home Co. Ltd.
• Hitachi Ltd.
• LG Electronics Inc.
• Midea Group Co. Ltd.
• Panasonic Corp.
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• Transform SR Brands LLC
• Whirlpool Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201109006073/en/