Electric & electronic home appliances are household appliances useful in performing several household functions such as cooking, cleaning, and food preservation. These home appliances comprised small appliances, consumer electronics, and other appliances. Small appliances are the semi-portable or portable machines used on platforms such as counter-tops and tabletops—consumer electronics comprised of devices useful for entertainment, communications, and home-office activities. The market is dominated by the availability of several electric & electronic home appliances such as air conditioners, dishwashers, clothes dryers, drying cabinets, freezers, refrigerators, kitchen stoves, water heaters, washing machines, microwaves ovens, induction cookers, and others.
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Market Dynamics
The market is driven by the increasing demand for electric & electronic home appliances with the growing living standards among the consumers and the rapid urbanizations and high growth in the housing sectors. There is growing adoption of energy-efficient home appliances with the growing government initiatives for energy-efficient appliances.There is an increase in the launch of the electric & electronic home appliances. For instance, Toshiba India had launched a new range of home appliances, including multi-door refrigerators, 2-door refrigerators with top freezer, washer-dryers, front-loading and top-loading washing machines, and water purifiers.
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Segment Analysis
The global electric & electronic home appliances market is segmented on the product type as the refrigerators & freezers, washers & dryers, dishwashers, air-conditioners, cooking appliances, etc. The air-conditioners segment is expected to have a significant market share of XX% in 2019 due to the increasing usage of air-conditioners with the rising temperatures. Air-conditioners are useful for providing a cool and comfortable environment by removing heat and moisture. Air-conditioners are widely used to cool and dehumidify rooms filled with heat-producing electronic devices, such as computer servers and power amplifiers. The air conditioning filters are more effective in keeping bugs out in comparison to an open window. Air-conditioners are useful for reducing the risk of dehydration and heatstroke. According to the Centers for Disease Control and Prevention, air conditioning is the protective factor against heat-related illness and death.
Competitive Landscape
The global electric & electronic home appliances market is highly competitive with several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. AB Electrolux, Qingdao Haier Co., Ltd., Hitachi, Ltd., LG Electronics Inc., Midea Group Co., Ltd., Panasonic Corporation, Robert Bosch Gmbh, Samsung Electronics Co., Ltd., Whirlpool Corporation are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.
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