Published on : Apr 18, 2018
Albany, New York, April 18, 2018: Today, human beings are dependent on different types of electrical appliances. With the advance in science and technology, various new electronic products are introduced into the markets. A wide range of companies across the world manufacture and sell such appliances, providing customers with a large range of options. Considering these facts, analyst have compiled a new study titled “Electrical Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025” to its vast repository, which presents a deep analysis of the latest trends and market expansion traits. This intelligent study also covers the geographical segmentation which analyzes the scope of the market in different regions including North America, Japan, Europe, Asia Pacific excluding Japan, Middle East & Africa and South America.
Key Insights from the Study
In the present time, higher standards of living among consumer is contributing towards market growth rapidly. As the average monthly income of households has increased, the trend among households to purchase electrical appliances has also grown. Looking to these factors, it has been estimated that global electrical appliances market will reach approximately us$ 1,285 bn by 2025.
Moving further in the study, the report provides qualitative and quantitative analysis of the market, in which market dynamics, trends, product summary, and country-level information are covered. The report adds another major factor driving the global electrical appliances market, which are the lucrative offers and the easy availability of credit schemes to purchase them. In fact, all the companies are focusing on providing a wide range of products to meet the needs and price affordability of consumers from different economic levels.
For a clear understanding of the market, the report has been categorized into various segments and sub-segments which covers all aspects of the market. The global electrical appliances market has been segmented by product and region. In terms of product, the market can be classified under refrigeration appliances, home laundry appliances, dishwashers, air treatment products, microwaves, small cooking appliances, vacuum cleaners, food preparation appliances, personal care appliances, irons, and others.
Geographically, the developing region of Asia Pacific is expected to witness a higher growth rate, followed by North America. This is mainly expected to be driven by the first-time purchase of electrical appliances by majority of the families in the region. Also, the development of smart and connected appliances is expected to provide an impetus to the market.
Another vital section of the report is competitive landscape featuring some of the top companies, their products and business strategies. Major companies operating in the global electrical appliances market include Haier Group, Glen Dimplex Group, BSH Bosh & Siemens, Koninklijke Philips N.V., Panasonic Corporation, Hitachi Ltd., Midea Group, Whirlpool Corporation, AB Electrolux, Gree Electric Appliances Inc., LG Electronics, and others.
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