The household appliances market share in Europe will post an incremental growth of USD 20.4 billion, progressing at a CAGR of 3.69% during the forecast period. The product innovation and portfolio extension leading to product premiumization will offer immense growth opportunities to market vendors. The household appliances market in Europe is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Household Appliances Market in Europe Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The household appliances market in Europe is segmented by distribution channel (offline and online) and product (major household appliances and small household appliances).
The growth of the household appliances market size in Europe by the offline segment will be significant during the forecast period. The growth of the segment is attributed to the increasing popularity of appliance specialty retail stores.
The product innovation and portfolio extension leading to product premiumization will directly influence the sales of the household appliances market in Europe. In addition, the introduction of multifunctional products is the major household appliances market trend in Europe that will positively impact the market growth. However, factors such as fluctuations in raw materials and operational costs will hamper the household appliances market growth in Europe.
The market is fragmented due to the presence of several players. Some of the major household appliances market vendors in Europe are AB Electrolux, Arcelik A.S., DeLonghi Spa, Dyson Technology India Pvt. Ltd., Gorenje Group, Groupe SEB, Haier Smart Home Co. Ltd., Hamilton Beach Brands Holding Co., Koninklijke Philips NV, LG Electronics Inc., Midea India Pvt. Ltd., Miele and Cie. KG, Newell Brands Inc., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Smeg Spa, Spectrum Brands Holdings Inc., Techtronic Industries Co. Ltd., and Whirlpool Corp.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the household appliances market in Europe forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the household appliances market share in Europe.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the household appliances market in Europe.
Household appliances industry growth across Europe.