From GlobeNewswire: 2024-05-09 12:30:00

Custom Market Insights published a report on the Household Appliances Market, predicting a value of around USD 1115.4 Billion by 2033, with a CAGR of 5.5%. Consumer trends favor energy efficiency, smart technology integration, multifunctionality, customization, and heightened hygiene concerns post-COVID-19. The refrigerator segment dominates, while specialty stores offer unique shopping experiences. In the Asia-Pacific region, smart appliances and e-commerce are driving market growth.

Samsung unveiled a new range of Side-by-Side Refrigerators with India-specific features. Trends include energy efficiency, smart technology, sleek designs, and eco-friendly refrigerants. Specialty stores lead in distribution channels, offering personalized shopping experiences and niche products. In the Asia-Pacific region, smart and compact appliances are preferred, with online sales on the rise.

The Asia-Pacific region is a key driver of the Household Appliances market due to urbanization, rising incomes, and changing lifestyles. The region’s large population and government initiatives promoting energy efficiency contribute to market growth. Manufacturers customize products to meet regional preferences, while incentives for eco-friendly appliances encourage consumers to upgrade.

Household Appliances Market size is expected to reach USD 1115.4 Billion by 2033, fueled by consumer trends favoring sustainability, technological integration, and multipurpose designs. Refrigerators lead in sales, while specialty stores offer unique shopping experiences. The Asia-Pacific region is a key driver of market growth, with a focus on energy efficiency and innovation.



Read more at GlobeNewswire: [Latest] Global Household Appliances Market Size/Share