Electric Household Appliances Market size to exceed 1.5 billion units by 2023

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Electric Household Appliances Market size to
reach 1.5 billion units by 2023 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Electric Household
Appliances Market

• Asia Pacific electric household appliances market
  is anticipated witness huge demand for room A.Cs,
  washing machines and microwave ovens. It is
  likely to grow at a CAGR of over 6.5 from 2016
  to 2023.
• The surge in the region can be attributed to
  numerous factors such as high GDP rates,
  increasing affluence of middle class population,
  rapid urbanization, proliferating number of
  households, westernization of population,
  improving standard of living as well as
  escalating disposable income.
• North America, Europe and Japan are likely to
  witness considerable growth owing to rising
  replacement needs for obsolete as well as older
  products in the region. As of July 2015,
  Australian appliance industry is anticipated to
  hamper its growth owing to growing competition
  from low cost manufacturers from other Asian
  counties.

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• Application Analysis of Electric Household
  Appliances Market
• The industry today is likely to witness steady
  inflow of expensive household products with
  innovative characteristics that enables the user
  with superior home care solutions and thus aids
  in reducing human labour.
• Manufacturers are now focusing on development of
  smart as well as autonomous products by
  integrating intelligent equipment such as
  electronic controls, sensors and pairing it with
  machine programming concepts.
• Technological enhancements in product performance
  and efficiency of these devices are likely to
  drive electric household appliances market over
  the forecast period. Significant opportunities
  exist for electric household appliances retail
  market space.

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Competitive Market Share of Electric Household
Appliances Market

• Key players in electric household appliances
  market share includes BSH Bosch, Siemens, AB
  Electrolux, GE Appliances Lighting, Haier
  Group, Groupe SEB, Hamilton Beach Brands, Indesit
  Company, Hitachi Appliances, Jarden Corporation,
  Panasonic Corporation, LG Electronics Inc,
  Mitsubishi Electric Corporation, Samsung
  Electronics, Miele CIE, Royal Philips
  Electronics NV, Spectrum Brand Holdings, Maytag
  Corporation and Whirlpool Corp among others.

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