Electric Home Appliances Market shipments cross 1bn units by 2024

The globally renowned Stockholm-based electric household appliances market giant, Electrolux, has recently revealed its plans to take over Anova, the developer of the Anova Precision Cooker – an exemplary connected device designed for sous vide cooking. Through this acquisition, Electrolux aims to strengthen its already formidable position in electric household appliances industry. Concurrently, it is prudent to mention that the Anova Precision cooker is likely to acquire mass prominence through this deal, all over the American belt. Vice-versa, the alliance forges a strong corporate bond between the electric household appliances market player and Anova, – while the latter will use Electrolux’s brand name for popularizing the sous vide in America, the former would be able to leverage Anova’s direct-to-consumer business model and digital technology for its own product manufacturing. The ultimate repercussions of this mutual deal are certain to be depicted in electric household appliances industry share, which, as per analysts, is projected to surpass USD 600 billion by 2024.

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With increasing consumer disposable incomes subject to the overall robust economy growth, it has been observed that the purchase parity of customers has surged to quite an extent, leading to a dynamic upswing in living standards. Furthermore, the prevalence of hectic schedules and a sedentary lifestyle has only served to escalate the dependency on quick-functioning household devices, which has ultimately led to a surge in electric household appliances market share.

Adopting technologically advanced products has also become the norm for the modern-day consumer, pertaining to the ease of operational ability and time-effectiveness. This has also paved the way for electric household appliances industry players to join forces with tech giants to explore the untapped product potential and to develop a range of innovatively designed home products. An instance testifying the infallibility of the aforementioned statement is LG’s noteworthy penetration in the connected era.

At the onset of this year, representatives of LG Electronics, Inc., the renowned South Korean electric household appliances industry giant declared that every one of the company’s home appliances will henceforth be equipped with advanced internet connectivity. The integration of LG’s premium home appliances with Amazon’s Alexa is an apt demonstration of the same.

In addition, at the LG InnoFest 2017, the electric household appliances market giant unveiled its connected, OS-enabled Smart Instaview refrigerator that uses stickers to warn users about spoiled food, light failure, etc. The company also revealed the Hub Robot, a home assistant that has been designed to make washing machines or vacuum cleaners function without any glitches.

Browse key industry insights spread across 164 pages with 98 market data tables & 19 figures & charts from the report, ‘’ Electric Household Appliances Market Size By Product (Refrigerators & Freezers, Washers & Dryers, Dishwashers, Air Conditioners, Cooking Appliances), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Switzerland, Poland, Ukraine, Belarus, Russia, China, Japan, India, South Korea, Taiwan, Malaysia, Indonesia, Thailand, Singapore, Australia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Qatar, Egypt, Nigeria, South Africa, Kenya, Israel), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’’ in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electric-household-appliances-market

LG’s proliferation in the smart industry will only prove to be highly beneficial for electric household appliances market, given its massive preeminence. With other appliance firms likely to follow suit, it does not remain a supposition that electric household appliance industry may chart out a lucrative path ahead.

Of late, with excess electricity consumption and environmental issues taking precedence, it has become a mandate for firms to manufacture eco-friendly devices. Some electric household appliances market companies have already taken the plunge into this domain – for instance, Samsung’s AC systems currently utilize the Digital Inverter technology that helps consume less power.

Daewoo’s microwaves are designed with the Zer-On technology, subject to which the appliance automatically enters the Zero saving mode if it is on stand-by mode for more than 10 minutes. With more and more firms navigating along the path of eco-friendliness, electric household appliances industry players are sure to unearth lucrative avenues for product innovation.

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Table Content of Electric Household Appliances Market:

Chapter 1    Methodology & Scope

1.1    Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Definition and forecast parameters

1.2    Data Sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2    Executive Summary

2.1    Electric household appliances industry 3600 synopsis, 2013 – 2024

2.1.1    Regional trends

2.1.2    Product trends

Chapter 3    Electric Household Appliances Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2013 – 2024

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.3.2    Distribution channel analysis

3.3.3    Policies affecting the ecosystem

3.4    Raw material trends

3.4.1    Stainless steel

3.4.2    Plastics

3.4.3    Aluminum

3.5    Pricing trends

3.5.1    North America

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    Middle East & Africa

3.6    Technological & innovation landscape

3.7    Regulatory landscape

3.7.1.1    Consumer Product Safety Act

3.7.1.2    Federal Hazardous Substances Act (FHSA)

3.7.2.1    EMC Directive

3.7.2.2    Ecodesign Directive

3.7.2.3    EU 517/2014

3.7.3.1    Electricity act of 1994

3.7.3.2    Waste Electrical and Electronic Equipment Directive (2002/96/EC)

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1    Rise in disposable incomes and growth of organized retail sector

3.8.1.2    Technological advancements

3.8.1.3    Advertising and promotions by players

3.8.1.4    Energy efficiency measures in North America

3.8.1.5    Replacement of obsolete products and government initiatives in Europe

3.8.1.6    Need for modernized appliances across APAC

3.8.1.7    Rising disposable income levels in Latin America

3.8.2    Industry pitfalls and challenges

3.8.2.1    High unemployment rates

3.9    Growth potential analysis

3.10     Porter’s analysis

3.11     Competitive landscape, 2016

3.11.1    Strategy dashboard

3.11.2    Emerging business models

3.12     PESTEL analysis 

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