World Market for Consumer Appliances (Major)

February 2021

The report covers the five major consumer appliance categories, and considers the current state of the market, demand drivers and forecast to 2025. It examines the five key trends shaping major consumer appliances: Sustainability, new business models, smart appliances, value proposition, and omnichannel sales. This report also identifies key opportunities for the forecast period.

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Key Findings

Sustainability

Regulations related to energy, water and product packaging are expected to get stricter. The “Energy efficiency first” principle of the EU’s Energy Union policy, implemented in late 2019, has, for instance, regulations encompassing most of these issues. China announced energy efficiency minimums in 2020. Designed for recyclability and reparability, such regulations are expected to play an important part in moving consumers away from the “throwaway” culture.

New business models and convergence

Companies are trying to diversify revenues from product sales to a recurring service/consumables revenue stream, such as Candy’s WashPass and Whirlpool's Swash laundry detergent. Auto-dosing continues to grow in importance, especially as a key distinguishing feature for home laundry appliances and dishwashers. Indoor farming appliances could see the emergence of a new category.

Smart appliances and home ecosystems

Connected appliances are becoming smarter, leading to AI features that enable increased energy efficiency, inventory management and longer food shelf life. For instance, Haier’s “Internet of Clothing” envisions a seamless experience from washing machine to smart clothing. A critical mass of smart devices installed in homes will lead to appliances that talk to each other, providing a seamless user experience controlled by AI and voice.

The appliance value proposition

The traditional way of selling product features has become outdated, as manufacturers are increasingly looking to sell a product’s experience and its ecosystem, eg the Hoover H-abitat. Showrooms have become experience stores exhibiting the benefit of appliances interacting with each other, in addition to how this can complement modern home designs. Product demonstrations at IFA2020 were centred on the home ecosystem, with many companies showcasing their in-house smart device control platforms.

Omnichannel sales

Appliances are typically researched online and bought in store, where electronics and appliance specialist retailers remain the leading channel of purchase. However, the rise in experience centres has resulted in more customers being comfortable purchasing online instead. The use of AR/VR also enables visualisation of how appliances look in the home. Livestreaming sales increased during the pandemic, and are expected to continue to rise.

 

Scope
Examining five trends shaping major appliances
COVID-19 impact on major appliances
2020 in the making
Major appliances market declines in 2020
Consumer appliances in context
Major appliances: growth and per household consumption by category
Overview: region size and growth by category in 2020
Overview: category size and growth by region in 2020
Electronics and appliance specialist retailers remains the leading channel
No major merger and acquisition activities in 2020
Haier remains the dominant company in major appliances
Haier poised to maintain growth momentum
Top six companies by percentage growth are from Asia Pacific
Fotile Kitchenware and Robam Group are two standout companies
Examining five trends shaping the major appliances industry
Sustainability
New business models and convergence
Smart appliances and home ecosystems
The appliance value proposition
Omnichannel sales
The market declined to 2015 levels in 2020
Major appliances outlook
Positive drivers to have a greater influence in the short term
Overview : region size and growth by category 2020-2025
Asia Pacific is expected to drive growth in the forecast period
China and India are expected to drive growth
Global snapshot of dishwashers
Global snapshot of home laundry appliances
Global snapshot of large cooking appliances
Global snapshot of microwaves
Global snapshot of refrigeration appliances
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia

Consumer Appliances

Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.

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