Global Market for Major Electric Household Appliances to Reach 543 Million Units by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Electric Household Appliances market. The global market for Major Electric Household Appliances is projected to reach 543 Million Units by the year 2015, driven by burgeoning sales in the microwave ovens, room ACs and electric ranges segments. Growing demand from rapidly developing countries including Asia-Pacific, Middle East and Latin America will provide the required impetus to the market.

Electric Household Appliances: A Global Strategic Business Report

The global electric household appliances industry, at one time dominated by developed countries such as North America and Europe, today calls for equal and dynamic participation from several developing countries such as India, China, Russia, Mexico and the Middle East. Though Western countries still hold majority share in global white goods market, the developing countries now enlist among the top rankers. Emerging markets in Asia-Pacific region, especially China and India, are expected to tap upcoming demand from urbanization and increasing household numbers. Powered by expanding per capita income, a moderate growth is expected for household appliances market in Eastern Europe, Middle East and Africa, while North America and Western Europe exhibit saturated demand.

Despite the rise in global demand for home appliances, leading manufacturers are witnessing continuous decline in profit margins. The sharp rise in prices of raw materials such as oil and steel in the past few years and manufacturers’ inability to pass on the costs to consumers due to intense competition contributed to poor performance. Apart from increasing material costs, high labor charges in developed countries compelled manufacturers to shift their production bases to low cost developing countries. In addition, the worldwide economic slowdown proved to be a major setback for the electrical and electronics sector. In 2009, sales in the electrical market, exclusive of services and software, witnessed a decline of about 4% from the previous year. The recession took a toll on the sales and profitability margins of nearly all the markets across the world. Developing Asian markets such as China and India provided a glimmer of hope, registering promising growth rates for the period.

As stated by the new market research report on Major Electric Household Appliances, Asia-Pacific region represents the single largest market. Asia-Pacific, Europe and US comprise the biggest consumers of major electric household appliances, accounting for a combined lion’s share of more than 80%. The region is also slated to trail blaze ahead of the other world markets through 2015. China, the largest global market, is slated to generate about 30% of the demand for new appliances as a result of continuous growth in residential construction. Even though the US and Western Europe are expected to remain the leading manufacturers of appliances due to their technical expertise, yet the overall production is forecast to shift increasingly toward Asia. In terms of segment coverage, vacuum cleaners, refrigerators and washing machines account for the largest combined share of more than 45% of the market. The best-performing segment microwave ovens is forecast to move ahead at the fastest compounded annual rate of 2.8% through 2015. Microwave ovens are expected to record best gains on account of lower propensity for product replacement. In addition, developing countries offer significant growth opportunities for expansion into a relatively untapped market.

Global Small Electric Household Appliances is projected to record sales of about 616 million units by the end of 2015. Electric irons and coffee makers constitute the largest segments, while small household appliances such as food processors, choppers, mixers and electric knives will drive growth in the market.

The market is characterized by the presence of powerful multinational conglomerates having comprehensive product ranges. Competition is intense among leading companies and new entrants are unable to penetrate the market due to high entry barriers. Major market participants include AB Electrolux, BSH Bosch-Siemens Hausgerate GmbH, GE Consumer & Industrial, Groupe SEB, Haier Group, Hitachi Ltd, LG Electronics Inc, Panasonic Corp., and Royal Philips Electronics NV among several others. Competition is based on design and product innovation in mature appliance markets of the US and Western Europe.

The report titled “Electric Household Appliances: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends/drivers, market share data, technological advancements, product introductions, recent industry activity, and profiles market players worldwide. Analysis is presented for major geographic markets such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Middle East/Africa. Market analytics are provided in terms of Units (volume) for major and small electric household appliance segments including Compactors, Dishwashers, Disposers, Dryers, Freezers, Microwave Ovens, Range Hoods, Electric Ranges, Refrigerators, Vacuum Cleaners, Washing Machines, Water Heaters (Electric), Room ACs, Blenders, Bread Makers, Broilers, Can Openers (Electric), Coffee Makers, Electric Knives, Food Choppers, Food Processors, Irons, Mixers, Toaster Ovens, Toasters, Waffle Irons, and Other Major Electric Household Appliances, and Miscellaneous Small Electric Household Appliances. The study also presents historic data for an insight into market evolution over the period 2000 through 2006.

For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Electric_Household_Appliances_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com

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