Dublin, March 20, 2025 (GLOBE NEWSWIRE) -- The "World Market for Major Appliances" report has been added to ResearchAndMarkets.com's offering.
The global major appliances market is experiencing a resurgence with 0.5% growth, driven by the Global South, particularly Eastern Europe, South Asia and Latin America. AI integration is transforming smart appliances, focusing on climate control, cooking and energy management. Beko Corp has emerged as the world's second-largest home appliance company, challenging Chinese dominance. Companies are shifting towards direct sales and subscription models, with LG leading in subscription-based growth.
The World Market for Major Appliances global briefing offers a comprehensive guide to the retail sales data, allowing you to identify the sectors driving growth. The report also identifies the leading companies/brands and offers strategic analysis of key factors influencing the competitive landscape - be it new product developments, technological innovations, economic/lifestyle influences, distribution or pricing issues. Additionally, trade statistics and producer's shares will answer questions on where appliances are produced and where they are being exported to, how quickly these units are moving, which companies are producing how much, and whether all categories are behaving in the same way. Collectively, this gives a complete view in both marketing and production planning strategies. Forecasts illustrate how the market is set to change.
Key Findings
Market growth returns after two years of decline
- Volume growth is back in the major appliances space, albeit modest at 0.5% in 2024. This trajectory is expected to continue, with a 1.8% CAGR over 2024-2029, as inflation tapers. However, the unpredictability of Trump tariffs and their impact on interest rates, make forecasting growth in the market difficult.
Global South driving growth in major appliances
- Nine out of the top 10 markets driving growth are from the Global South, with Russia an exception. These markets are growing at a range of 2.9-15.6%, significantly above the global average of 0.5%. Growth regions include Eastern Europe, South Asia, and Latin America.
Smart appliances is now AI appliances
- Companies are jumping on the AI bandwagon. The industry has fully embraced AI and smart appliances are now AI appliances. Smart technologies are now being relabelled as AI focusing on climate control, cooking, health, energy management and connectivity. We expect AI to drive growth in the premium segment.
Beko Corp emerges as the number two company in the world
- Arcelik, now Beko Corp, has become the world's number two home appliance company after integrating Whirlpool's EMEA markets. However, it still trails Haier, which holds a dominant 17.4% market share. This positions Beko to challenge Chinese companies in the medium to high-end segment of the market they have long dominated.
Shifting focus towards direct sales and a subscription model
- Appliance companies want to own their customer relationships. Many are now focusing on selling directly to customers, through own retail stores and brand.com sites. This transition will also facilitate the move to servitisation. Subscription appliances have been very successful for LG, with growth rates over 20% for LG in South Korea and plans to expand to SEA.
Report Scope:
- Product coverage: Major Appliances, Small Appliances.
- Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key Topics Covered:
Introduction
- Markets in the Global South continue to drive volume growth
- Top five trends in Major Appliances
- Top five trends uncovered
- AI adoption will be essential for value-driven sustainable innovation
- Drivers of consumer markets and impact on Major Appliances
- Adjacent industries and how they impact Major Appliances
State of the industry
- Market growth is back and expected to continue over the forecast period
- Developed markets dominate, with Turkey's inflation-driven surge in purchases
- Asia leads in volume, while emerging markets drive growth
- Freestanding and laundry growth driven by APAC, premiumisation push from built-in
- Enhancing appliance insights with replacement cycles data from consumer surveys
Companies and products
- Beko Corp is now the number two major appliance company
- Voltas benefits from India's appliance market growth
- Inflation drives market consolidation benefitting the top 5 companies
Channels
- Shift to e-commerce as traditional channels lose ground
Future outlook
- Diverse growth in major appliances driven by income rise and shifting lifestyles
- Emerging markets lead global appliance growth, with China and India at the forefront
- Emerging markets drive volume, while premiumisation fuels value growth
- Growth opportunities in the appliances market: Freestanding and built-in trends
- Asia Pacific leads, India offers growth potential
Conclusion
- SWOT analysis: AI appliances drive growth, while challenges remain
- Opportunities for growth
For more information about this report visit https://www.researchandmarkets.com/r/33fsqi
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