The Switzerland Home Appliances Market size was valued at USD 1.37 Trillion in 2022 and is expected to surpass USD 2.04 Trillion by 2031, expanding at a CAGR of 4.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising demand for less energy consumable devices.
The home appliances market in Switzerland 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 in 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.
The COVID-19 pandemic disrupted the home appliances market in first half of 2020 due to supply chain disruption across the globe. On the other hand, worldwide producers of appliances figured out how to address the present circumstances of expanding demand for home appliances. Increasing demand was due to absence of helpers that eased their daily life but outbreak of the virus limited the travel and led to social distancing.
Market Trends, Drivers, Restraints, and Opportunities
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Rising purchasing power and better access to quality items with reasonable cost are expected to boost the home appliances market growth.
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The presence of online marketplace to buy home appliances is positively influencing the growth of the market.
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Rapid growth of organized retail sector are expected to boost the home appliances market growth.
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Increasing demand for home appliances due to improved living standard is projected to spur market growth in the coming years.
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Power utilization issues of home appliances can hinder the growth of the market.
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Rising adoption of smart home systems in Switzerland is likewise expected to create lucrative opportunities during the forecast period.
Scope of Switzerland Home Appliances Market Report
The report on the Switzerland 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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Home Appliances Market - Switzerland 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 (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) and Distribution Channels (Supermarkets and Hypermarkets, Specialty Stores, E-commerce, and Others)
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Country Scope
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Switzerland
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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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BSH Hausgeräte GmbH; LG Electronics; Whirlpool Corporation; Electrolux AB; and Samsung 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 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.
E-commerce segment is projected to expand at a considerable CAGR
On the basis of distribution channels, the market is classified supermarkets and hypermarkets, specialty stores, e-commerce, and others. The e-commerce segment is projected to expand at a considerable CAGR during the forecast period. E-commerce attributes to ease of shopping from a remote location. An e-commerce store provides advantages such as automated software up gradations, remote accessibility, easy scalability, disaster recovery, and storage flexibility.
Segments
The Switzerland 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
- Supermarkets and Hypermarkets
- Specialty Stores
- E-commerce
- Others
Country
Key Players
Competitive Landscape
Key players competing in the Switzerland home appliances market are BSH Hausgeräte GmbH; LG Electronics; Whirlpool Corporation; Electrolux AB; and Samsung Electronics.
To catch the expanding buyer's advantage to connect home appliances digitally, in December 2019, Electrolux sent off an associated blender that utilizes innovation got from various joint efforts to improve and customize the customer experience.
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