Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Product (Refrigerator, Air Conditioner & Heater, Entertainment & Information Appliances, Washing Machine, Cleaning Appliance, Cooktop, Cooking Range, Microwave & Oven, Others), By Distribution Channel (Supermarket & Hypermarket, Specialty Stores, e-Commerce, Others) And Competitive Landscape
Product Code: ETC056987 | Publication Date: Dec 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Asia Pacific Household Appliances Market is expected to witness market revamp over the forecast period. The major growth drivers are comprising of surging middle class population and increasing purchasing power of individuals. The Asia Pacific Household Appliances Market Size is projected to be worth $XX billion in the coming years, growing at a CAGR of X%. In general, these products include washing machines, refrigerators, air conditioners, and other appliances such as microwave ovens and TVs. Moreover, the growth can be attributed to increasing demand for energy-efficient appliances as well as increasing expenditure on home improvement projects such as new home construction or renovation. However, stringent environmental regulations and rising prices of raw materials are restraining the Asia Pacific Household Appliances Market Growth in the forthcoming years.
According to 6Wresearch, Asia Pacific Household Appliances Market is expected to grow during 2022-2028. The increasing population and rising disposable incomes are some of the primary factors spurring the demand for this market. The increasing adoption of advanced technologies in households is also contributing to the growth of this market in the forthcoming years. Furthermore, the increasing geriatric population due to improved living standards and ever-increasing adoption rate of electric fans among consumers especially in developing countries such as Thailand and Australia are augmenting the growth of Asia Pacific Household Appliances Industry development. However, high cost of appliance ownership, limited availability of products, and stringent government laws are expected to deter the market growth in the coming time frame.
The COVID-19 pandemic continues to spread throughout the world and it negatively impacted the Asia Pacific Household Appliances Market by decreasing the demand and supply disruptions. The sales of household appliance market in the Asia Pacific is forecast to decline sharply during the pandemic. Afterwards, it is expected that the growth of the household appliances market in this region will be significantly slower than previously years. Despite this, the market is still expected to grow steadily over the next few years as consumers have become more conscious of energy efficiency and sustainable environment.
In terms of distribution channel, the market is segmented into Supermarket & Hypermarket, Specialty Stores, and E-Commerce. Out of which the E-Commerce is accounted to dominate the Asia Pacific Household Appliances Market share in the coming time zone on the account of high discounts and offers provided by them to their customers.
The Asia Pacific Household Appliances Market is highly competitive with leading players competing for market share. The competition is intense in terms of pricing, product development, and marketing. Players are focused on expanding their customer base and improving their product offerings to gain a competitive edge. The growth prospects of this market are high on the back of increasing demand for household appliances in Asia Pacific regions. Moreover, the companies are focusing on developing innovative products and expanding their product portfolio to tap into this lucrative market.
The report offers a comprehensive study of the subsequent market segments:
1. What are the factors proliferating the growth of Asia Pacific Household Appliances Market?
The increasing population and rising disposable incomes are some of the key factors propelling the growth of Asia Pacific Household Appliances Industry.
2. What are the major factors restraining the Asia Pacific Household Appliances Market?
The high cost of appliances, limited product availability in certain countries, and low-income levels which limits the potential demand for higher-priced items such as washing machines and refrigerators are expected to restrain the market growth.
3. What is the study period of this report?
The study period of this report is 2022-2028.
4. What are the growth opportunities for the market?
Growing middle class and an increasing trend towards eco-friendly living are the major growth opportunities for the market.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Household Appliances Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Household Appliances Market Revenues & Volume, 2021 & 2028F |
3.3 Asia Pacific Household Appliances Market - Industry Life Cycle |
3.4 Asia Pacific Household Appliances Market - Porter's Five Forces |
3.5 Asia Pacific Household Appliances Market Revenues & Volume Share, By Countries, 2021 & 2028F |
3.6 Asia Pacific Household Appliances Market Revenues & Volume Share, By Product, 2021 & 2028F |
3.7 Asia Pacific Household Appliances Market Revenues & Volume Share, By Distribution Channel, 2021 & 2028F |
4 Asia Pacific Household Appliances Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Household Appliances Market Trends |
6 Asia Pacific Household Appliances Market, 2018 - 2028 |
6.1 Asia Pacific Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
6.2 Asia Pacific Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
7 China Household Appliances Market, 2018 - 2028 |
7.1 China Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
7.2 China Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
8 India Household Appliances Market, 2018 - 2028 |
8.1 India Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
8.2 India Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
9 Japan Household Appliances Market, 2018 - 2028 |
9.1 Japan Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
9.2 Japan Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
10 Australia Household Appliances Market, 2018 - 2028 |
10.1 Australia Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
10.2 Australia Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
11 Indonesia Household Appliances Market, 2018 - 2028 |
11.1 Indonesia Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
11.2 Indonesia Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
12 Philippines Household Appliances Market, 2018 - 2028 |
12.1 Philippines Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
12.2 Philippines Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
13 Thailand Household Appliances Market, 2018 - 2028 |
13.1 Thailand Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
13.2 Thailand Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
14 Malaysia Household Appliances Market, 2018 - 2028 |
14.1 Malaysia Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
14.2 Malaysia Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
15 Singapore Household Appliances Market, 2018 - 2028 |
16 Rest of Asia Household Appliances Market, 2018 - 2028 |
16.1 Rest of Asia Household Appliances Market, Revenues & Volume, By Product, 2018 - 2028 |
16.2 Rest of Asia Household Appliances Market, Revenues & Volume, By Distribution Channel, 2018 - 2028 |
17 Asia Pacific Household Appliances Market Key Performance Indicators |
18 Asia Pacific Household Appliances Market - Opportunity Assessment |
18.1 Asia Pacific Household Appliances Market Opportunity Assessment, By Countries, 2021 & 2028F |
18.2 Asia Pacific Household Appliances Market Opportunity Assessment, By Product, 2021 & 2028F |
18.3 Asia Pacific Household Appliances Market Opportunity Assessment, By Distribution Channel, 2021 & 2028F |
19 Asia Pacific Household Appliances Market - Competitive Landscape |
19.1 Asia Pacific Household Appliances Market Revenue Share, By Companies, 2021 |
19.2 Asia Pacific Household Appliances Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |
Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Product (Refrigerator, Air Conditioner & Heater, Entertainment & Information Appliances, Washing Machine, Cleaning Appliance, Cooktop, Cooking Range, Microwave & Oven, Others), By Distribution Channel (Supermarket & Hypermarket, Specialty Stores, e-Commerce, Others) And Competitive Landscape
Product Code: ETC056987 | Publication Date: May 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Asia Pacific Household Appliances market is expected to register significant growth over the forecast period. The Household appliances market is dominated by the developing nations in Asia-Pacific region. The increase in disposable income and rapid urbanization coupled with attractive and innovative advertising by manufacturing companies has generated a disruptive market environment in Asia-Pacific region. Although the high price of certain essential products restrains the growth of the household market. Moreover, China has dominated the market with the help of its low priced products. The rapid increase in middle-class families and the urban population has led to the dominance of low-priced appliances in the market, with consumers willing to experience the comforts of technology available in the market. Moreover, factors such as government policies for energy-efficient appliances are expected to increase the sales of energy-efficient appliances.
According to 6Wresearch, Asia Pacific (APAC) Household Appliances Market size has substantial growth prospects during 2021-27F. However, the current COVID situations have resulted in a plummeting growth curve of Asia-Pacific household market. The increased demand for household appliances led by the massive improvements made by many people in the developed and developing countries has led to an increased demand for the same, as a matter of fact, this has created a pressure over the supply chains leading to almost two month waiting for products, which is, in case a materializing fact about the product market. Asia Pacific household appliances market is projected to witness a market revamp and witness a substantial growth after the COVID effects subside, owing to rapid urbanization, a surge in household income, and rise in the middle-class population, easy access to consumer finance, expansion of retail networks and a shift in people’s lifestyle which are anticipated to be, yet positive growth factors for the market in the coming time zone, once the graph of the prevailing COVID cases settle down.
Based on countries, Asia-Pacific household appliances market can be majorly segmented into, China, Japan, South Korea, India and others. However, China has a very firm hold over Asia-Pacific household appliances market owing to its low priced products. Based on distribution channels, the segments include Supermarket & Hypermarket, Specialty Stores, e-commerce and others. Out of which the e-commerce is posing a major threat to other segments due to high discounts and other offers it is offering and as a result, it is expected to lead the overall market in the coming time zone.
The key market players of the Household Appliances Market globally are LG Electronics, Havells India Ltd., BSH Home Appliances, Midea Group, Miele & Cie, Haier Inc., Panasonic Corporation, Electrolux, Samsung, Whirlpool Corporation, Morphy Richards, Hitachi Appliances Inc., Koninlijke Philips N.V. and Bosch.
Asia-Pacific Household appliances market report thoroughly covers the market by product, distribution channel and countries including Indonesia, Japan, China, India, Malaysia, Australia, Thailand, and the rest of Asia Pacific. Asia-Pacific household appliances market report provides an unbiased and detailed analysis of ongoing Asia-Pacific household appliances market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Asia Pacific household appliances market is anticipated to gain momentum in the upcoming six years on the back of the rising purchasing power of the population has led to enable customers to spend on the buying of the premium products is propelling the market growth. Further, in the Asia Pacific region, China is a leading country generating high sales for the market growth backed by an increase in the growth of the urban population which intended to double the purchasing rate of the household appliances in the country and this is further likely to open up the opportunities for the potential investors which simultaneously help in widening the market landscape in the upcoming six years.
Markets Covered
The Household Appliances Market in Asia Pacific includes the following segments: