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(MoneyNewsWire.Net, September 15, 2017 ) According to a report, laundry accounts for every US$ 5 out of US$ 10 spent on home care in the US. Of these, consumer durables like washing machines and irons contribute a significant percentage, signalling a large assured market across the world.
While saturated markets like North America and Western Europe currently show feeble growth due to global market difficulties, it is found that a number of emerging and pre-emerging economies in Africa, some regions in Eastern Europe and show high growth potential for laundry appliances market. This is because of an expanding middle class in emerging economies, increasing disposable income, inclusion of women in the workplace and a number of technological advancements which have added incremental convenience to users.
The global laundry appliances market is valued at US$ XX billion in 2014 and is projected to witness CAGR of XX.XX% for the forecast period (2017 - 2022). More than half of the appliance market constitutes of automatic washing machines, followed by low/no frills washing machines and irons. About 13.3% of the world retail volume sales are accounted for by Haier as of 2013, the highest globally. The highest share in manufacturing was also claimed by Haier.
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Trends include innovating for increase efficiency and energy efficiency, as well as water consumption, due to environmental guidelines highlighted by several governments. Smart appliances trend is pervasive through usage of sensors, and other components used in smart technology. This market, dependent on real estate growth, both purchase and rental refurbishing, is also innovating for smaller appliances, because of differing housing arrangements across the world.
Distribution, depending on the region, is prevalent through large retail chains which offer heavy discounts due to manufacturer tie-ups, as well as economies of scale, or through ecommerce, which in several regions offer competitively discounted prices, as well as attractive credit schemes. Private label goods, through innovative card schemes are also popular in several regions in Latin America.
Reputed brands mentioned in the report include Haier, Midea, LG, Samsung, Panasonic, Electrolux, Kelvinator, and several regional manufacturers and brands.
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Drivers of this Market
An expanding middle class with a rising disposable income globally, home appliances becoming cheaper as other new innovations assume the higher prices, inclusion of women in the working class, urbanization, and other factors affect the laundry appliances market in the world.
Challenges :
High level of competition across all product classes and in new and saturated markets alike, insufficient innovations in the mass market product range, are some of the challenges being faced in this market.
What the report offers
Market definition for the laundry appliances market along with identification of key drivers and restraints for the market.
Market analysis for the laundry appliances market with region specific assessments.
identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the macro and micro factors that affect the laundry appliances market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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