Household Appliances Market Driven To Growth Rate Of 7% With Increasing Cookouts And Outdoor Parties

Household Appliances Global Market Report 2021 - COVID-19 Impact And Recovery

Household Appliances Market Report 2021 – COVID-19 Impact And Recovery

The Business Research Company’s Household Appliances Global Market Report 2021 – COVID-19 Impact And Recovery

LONDON, GREATER LONDON , UK, November 24, 2021 / — The rising trend of outdoor parties and cookouts on weekends and holiday is expected to drive the market for barbeques and grills in the forecast period. Rapidly evolving lifestyle along with the increasing outdoor recreational activities will increase the demand for barbeque machines and grills. The Europe barbeque grill market is expected to grow to $5.98 million by 2026. Increasing access to unique camping sites, and increasing adventure camping, coupled with the rising disposable income will drive the market for barbeques globally, which in turn will boost the market for household appliances in the forecast period.

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Household appliance manufacturers are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting systems minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting. For instance, some of the major companies manufacturing LED lighting include Philip Electronics N.V., Osram Opto, Digital Lumens Inc and Cree Corporation.

Asia Pacific was the largest region in the global household appliances market, accounting for 49% of the market in 2020. Western Europe was the second largest region, accounting for 19% of the global household appliances market. Africa was the smallest region in the global household appliances market.

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The global household appliances market size is expected to grow from $308.11 billion in 2020 to $331.57 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $436.04 billion in 2025 at a CAGR of 7%.

Major players covered in the global household appliances industry are Samsung Electronics, Panasonic Corporation, Whirlpool Corp, Bosch Gmbh, LG Electronics Inc.

TBRC’s global household appliances market report is segmented by type into small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment, other major household appliance, by application into cooking, cleaning, others, by mode into online, offline.

Household Appliances Global Market Report 2021 – By Type (Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment), By Application (Cooking, Cleaning), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides household appliances market overview, forecast household appliances market size and growth for the whole market, household appliances market segments, and geographies, household appliances market trends, household appliances market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Here Is A List Of Similar Reports By The Business Research Company:

Household Appliances Manufacturing Market – By Type Of Appliance (Small Electrical Appliances, Household Cooking Appliances, Household Refrigerators And Home Freezers, Household Laundry Equipment And Other Major Household Appliances), And By Region, Opportunities And Strategies – Global Forecast To 2023

Household Cooking Appliance Global Market Report 2021 – By Product (Electric Stoves, Microwave Ovens, Barbecues And Grills, Others – Household Cooking Appliances), By Application (Household, Commercial), By Fuel Type (Cooking Gas, Electricity), COVID-19 Impact And Recovery

Household Laundry Equipment Global Market Report 2021 – By Type (Washing Machines, Ironers, Dryers), By Technology (Automatic, Semi-Automatic/ Manual), By Distribution Channel (Direct Selling, Retail, E-commerce), COVID-19 Impact And Recovery

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Source: EIN Presswire