The Brazil home appliances market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing demand for less energy and water-conserving appliances.
The home appliances market in Brazil is dynamic. Customers have developed and quickly adopted new technology items to smooth their functioning of their everyday activities. The majority of the home appliances are associated with automating their activities with less human intervention. With the advancement of smart functionality and further developed energy productivity, home appliances have a significant impact on the day to day routine of consumers. Consequently, excellent and durable materials are expected to withstand the wear and tear of home machines.
Wireless technologies such as Wi-Fi and Bluetooth can be used in or accessed by smartphones and tablets. The inclusion of these technologies in home appliances such as air conditioners is a means of product differentiation by manufacturers that is enticing tech-savvy consumers. The improvement in network infrastructure has translated into better broadband and internet penetration. Therefore, consumers are increasingly opting for wireless and technologically advanced products, mostly for the convenience offered by manufacturers. The low cost associated with the ownership of white goods, particularly in developing economies.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in the customer's purchasing power parity is estimated to positively influence the market growth during the forecast period
- Rapid growth in the purchasing power and better access to quality items with reasonable cost are expected to boost the home appliances market growth.
- The presence of online marketplace to buy home appliances is spurring the growth of the market.
- Increasing demand for home appliances due to improved living standards is projected to spur market growth in the coming years.
- Power utilization issues of home appliances can hinder the growth of the market.
- Rising adoption of smart home systems in Brazil is likewise expected to create lucrative opportunities during the forecast period.
Scope of the Report
The report on the Brazil home appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Brazil home appliances Market - Brazil Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Cookers, and Ovens), Small Appliances (Vacuum Cleaners, Small Kitchen Appliances, Hair Clippers, Irons, Toasters, Grills and Roasters, Hair Dryers, and Others), Distribution Channels (Multi-brand Stores, Exclusive Stores, Online, and Others)
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Country Scope
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Brazil
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Panasonic Corporation; Whirlpool Corporation; Electrolux AB; Samsung Electronics and LG Electronics.
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Home Appliances Market Segment Insights
Refrigerators segment is expected to grow at a rapid pace
Based on major appliances, the market is divided into refrigerators, freezers, dishwashing machines, washing machines, cookers, and ovens. The refrigerators segment is estimated to account for a significant share of the market owing to the increasing number of innovative refrigeration products. Refrigerators are broadly utilized across households and business places to provide a convenient and safe methods for food preservation.
Small kitchen appliances segment is projected to expand at a considerable CAGR
In terms of small appliances, the home appliances market is segmented into vacuum cleaners, small kitchen appliances, hair clippers, irons, toasters, grills and roasters, hair dryers, and others. The small kitchen appliances segment is estimated to account for a key share of the market due to increasing preference for cooking healthy food. On the other hand, the grills and roasters segment is estimated to grow at a steady rate in the projected timeline.
Online segment is projected to expand at a considerable CAGR
On the basis of distribution channels, the market is classified multi-brand stores, exclusive stores, online and others. The online segment is projected to expand at a considerable CAGR during the forecast period. Online attributes to ease of shopping from a remote location. An online store provides advantages such as automated software up gradations, remote accessibility, easy scalability, disaster recovery, and storage flexibility.
Segments
Segments Covered in the Report
The Brazil home appliances market has been segmented on the basis of
Major Appliances
- Refrigerators
- Freezers
- Dishwashing Machines
- Washing Machines
- Cookers and Ovens
Small Appliances
- Vacuum Cleaners
- Small Kitchen Appliances
- Hair Clippers
- Irons
- Toasters
- Grills and Roasters
- Hair Dryers
- Others
Distribution Channels
- Multi-brand Stores
- Exclusive Stores
- Online
- Others
Country
Key Players
- Panasonic Corporation
- Whirlpool Corporation
- Electrolux AB
- Samsung Electronics
- LG Electronics
Competitive Landscape
Key players competing in the Brazil home appliances market are Panasonic Corporation; Whirlpool Corporation; Electrolux AB; Samsung Electronics; and LG Electronics.
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