Electric Household Appliances Market to hit $600bn

Ocean View, Delaware, July 03, 2017 (GLOBE NEWSWIRE) --

Electric Household Appliances Market share is poised to surpass USD 600 billion by 2024 according to a new research report by Global Market Insights, Inc. The global industry shipments are anticipated to reach 1 billion units by 2024.

The electric household appliances market is anticipated to exhibit considerable growth in the coming years owing to the rise in disposable incomes in developing countries, which has led to an enhanced consumer spending. Consumers are willing to spend more on appliances, which can be used for an extended period. Moreover, they are progressively seeking value-added products owing to advanced specifications such as ease of cleaning and reduced cooking times. The presence of these products is making everyday life easier, thereby driving the sales in the electric household appliances market.

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Electric household appliances market is playing a vital role in improving the economy of Asia Pacific and offers employment to millions of people. With continued economic advancements, consumers demand modernized equipment and are adopting technologically advanced electronics to enhance the overall quality of life. The low penetration level has led to considerable growth avenues manufacturers in the region. Technological advancements in engineering & design with the low pricing trends have made the products affordable for most of the consumers in Asia Pacific.

Environmental changes globally could affect the consumer demand significantly for energy in housing areas as changing temperatures are altering heating and cooling loads.

Rapid industrialization, technological advancements, and reducing prices of the air conditioners are anticipated to spur the room air conditioner market size. Split ACs will witness a significant demand due to the ease-of-installation, higher energy efficiency, and varying building infrastructures.

Browse key industry insights spread across 164 pages with 98 market data tables & 19 figures & charts from the report, “Electric Household Appliances Market Size By Product (Refrigerators & Freezers, Washers & Dryers, Dishwashers, Air Conditioners, Cooking Appliances), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Switzerland, Poland, Ukraine, Belarus, Russia, China, Japan, India, South Korea, Taiwan, Malaysia, Indonesia, Thailand, Singapore, Australia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Qatar, Egypt, Nigeria, South Africa, Kenya, Israel), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/...ces-market

It is expected that the online sales of air conditioners will show a rapid growth in the coming years as consumers are feeling comfortable purchasing branded appliances online. In addition, improvements in after-sales services have provided an impetus to the electric household appliances market growth. Manufacturers are working with several other companies to ensure timely delivery and installation after the online sales of the product.

With a rise in environmental and social consciousness, many consumers are looking for steps to diminish the impact on the atmosphere. Driven by the desire to contribute toward the environmental ecosystem, consumers are seeking products, which are energy-efficient and cost-effective, thereby driving the electric household appliances market.

The key players operating in the electric household appliances market are AB Electrolux, Toshiba, Panasonic Corporation, Haier Group, V-Guard Samsung Electronics Co., Ltd., Whirlpool Corporation, etc. The industry is demanding modernization with manufacturers focusing on developing smart and autonomous equipment by integrating machine programming concepts, intelligent electronic control, and sensors.

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Browse Related Reports:

• Household Refrigerators And Freezers Market Size 2016 – 2025

Household Refrigerators & Freezers Market size was valued at over USD 59 billion in 2015 and is set to grow at 2.7% CAGR from 2016 to 2025. Growing energy efficiency initiatives and rising purchasing power of consumers would drive the global household refrigerators and freezers market size over the forecast timeline. Capabilities of pairing smartphones with refrigerators and the advent of compressor less products contribute towards the key technological advancements witnessed in the industry.

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• Kitchen Appliances Market Size 2016 – 2023

Kitchen Appliances Market size in 2015 was over USD 175 billion, and will exceed USD 250 billion by 2023. hanging household and commercial lifestyles, economical availability of electricity, rising concerns regarding ecofriendly appliances are expected to be the key drivers of the kitchen appliances market size. Development of ecommerce distribution channels, emergence of IoT and other smart technologies will support the overall kitchen appliances market share from 2016 to 2023.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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