Europe Home Appliances Market Outlook 2031:
The Europe home appliances market size was valued at USD 110.56 Billion in 2022 and is projected to reach USD 135.67 Billion by 2031, expanding at a CAGR of 2.3% during the forecast period 2023 - 2031. Growth of the market is attributed to the increasing urbanization, growing working population, and emerging demand for smart appliances.
A home appliance is also known as an electric appliance, household appliance, and domestic appliance. A home appliance is a machine which helps in household work such as cleaning, food preservation, and cooking.
The Covid-19 pandemic affected the demand and supply of Europe home appliances market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Home Appliances Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer purchasing capacity and rapidly growing population is projected to boost the market in the coming years.
- Emerging demand for smart appliances is major factor fueling the market during the forecast period.
- Increasing on-demand laundry services is anticipated to hamper the market growth.
- High maintenance cost is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in home appliances is projected to create lucrative opportunities for the market players.
Scope of Home Appliances Market Report
The report on the Europe home appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Europe Home Appliances Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Major Appliances (Dishwashing Machines, Cookers and Ovens, Washing Machines, Freezers, and Refrigerators), Small Appliances (Hair Dryers, Toasters, Irons, Small Kitchen Appliances, Hair Clippers, Grills & Roasters, Vacuum Cleaners, and Others), and Distribution Channel (Online, Exclusive Stores, Multi-brand Stores, and Other Distribution Channels?)
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Geographical Scope
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Italy, Poland, Germany, France, United Kingdom and Rest of the Europe
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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 Corp.; Miele; Koninklijke Philips; Qingdao Haier Co. Ltd; AB Electrolux; Gorenje Group; Candy Group; Arcelik AS; Robert Bosch GmbH; De’ Longhi SpA, LG Electronics; Samsung Electronics Co. Ltd; Liebherr Group; and Whirlpool Corp.
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Home Appliances Market Segment Insights
The washing machines segment accounts for key share of the market
Based on major appliances, the Europe home appliances market is divided into dishwashing machines, cookers and ovens, washing machines, freezers, and refrigerators.
The refrigerator segment accounts for a key share of the market. Growth of the market is attributed to increasing living standards of consumers and rising awareness about advantages of home appliances. The refrigerators segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising disposable income and changing customers focus on energy-efficient product.
The small kitchen appliances segment accounts for a major share of the market
On the basis of small appliances, the market is fragmented into hair dryers, toasters, irons, small kitchen appliances, hair clippers, grills & roasters, vacuum cleaners, and others.
The small kitchen appliances segment is anticipated to hold a major market share during the forecast period. Growth of the market is attributed to increasing demand for advanced & innovative products. However, the toasters segment is anticipated to expand at a rapid pace during the forecast period due to factors such as introduction of smart meters.
The online segment is estimated to hold a major share of the market
Based on distribution channels, the Europe home appliances market is categorized into online, exclusive stores, multi-brand stores, and others.
The online segment accounts for a key share of the market. Growth of the market is attributed to increasing investment by emerging countries and rising demand for washing machines. The exclusive store segment is anticipated to expand at a rapid pace during the forecast period due to factors such as changing consumer preference and rising economies.
Germany is estimated to hold major market share
On the basis of region, the Europe home appliances market is categorized as Italy, Poland, Germany, France, United Kingdom and Rest of the Europe.
The market of Poland is anticipated to expand at a high CAGR during the forecast period due to increasing research & development procedures, increasing supply of raw materials, and rising need for comfort appliances.
The market of Germany is estimated to hold a major market share due to increasing adoption of wireless & technologically advanced products, rising replacement sales in developed countries, and low cost associated with the ownership of white goods.
Segments
The Europe home appliances market has been segmented on the basis of
Major Appliances
- Dishwashing Machines
- Cookers & Ovens
- Washing Machines
- Freezers
- Refrigerators
Small Appliances
- Hair Dryers
- Toasters
- Irons
- Small Kitchen Appliances
- Hair Clippers
- Grills and Roasters
- Vacuum Cleaners
- Others
Distribution Channels
- Online
- Exclusive Stores
- Multi-brand Stores
- Others
Geography
Key Players
- Panasonic Corp.
- Miele
- Koninklijke Philips
- Qingdao Haier Co. Ltd.
- AB Electrolux
- Gorenje Group
- Candy Group
- Arcelik AS
- Robert Bosch GmbH
- De’ Longhi SpA
- LG Electronics
- Samsung Electronics Co., Ltd.
- Liebherr Group
- Whirlpool Corp.
Competitive Landscape
Key players competing in the Europe home appliances market include Panasonic Corp.; Miele; Koninklijke Philips; Qingdao Haier Co. Ltd; AB Electrolux; Gorenje Group; Candy Group; Arcelik AS; Robert Bosch GmbH; De’ Longhi SpA, LG Electronics; Samsung Electronics Co. Ltd.; Liebherr Group; and Whirlpool Corp.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.