Product Innovation and Replacement Needs to Spur Household Appliances Market, According to a New Report by Global Industry Analysts

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Demographic structures, smaller household units, age distribution patterns, increased purchasing power and changing lifestyles alter consumption habits. The cosmopolitan attitude of consumers, replacement demand, and niche product developments facilitated growth in sales of household appliances.

Household Appliances: A Global Outlook

Household appliances including large appliances or white goods and small appliances, play a significant role in maintaining lifestyles and providing comfort, utility and convenience. Increasing urbanization, discretionary income, growing homeownership, replacement demand, and rising number of workingwomen spurred demand for household appliances. Emergence of lifestyle and wellness trends and shift of focus to higher-quality products will benefit sales of small appliances such as juice extractors, espresso machines and coffee machines. Globally, household appliances market can be viewed more positively, boosted through modernization and renovation in home/kitchen segment and replacement needs. Developed nations are expected to demonstrate limited growth potential as a result of high penetration of household appliances.

Worldwide market for microwave ovens is healthy, with developing nations anticipated to register sturdy market gains due to large untapped potential. With demand in most developed nations nearing saturation, manufacturers are consistently striving to introduce enhanced versions of microwaves, to keep the sales momentum. Market in upcoming years is expected to be swamp by advanced versions such as energy-efficient ovens, to gratify even the most critical cooking enthusiast. In an effort to completely capitalize on the changing consumer preferences, companies engaged in ovens manufacturing are coming forward with innovative offerings.

Consumer desire for the latest gadgets and ergonomical and trendy designs fuelled the growth in small household appliances market such as toasters, hand mixers, coffee makers and can openers. Usage of chrome instead of white, black or forest green, has become widely popular. Producers are creating a new niche by supplying a combination of appliances such as bread makers with toaster ovens. In the market for floor care products, the spotlight was on technology comprising increased cleaning power, dirt sensors and enhancements in cleaning tools.

Growing awareness about diminishing natural resources and the rising energy costs encouraged consumers to look out for environment friendly and energy-efficient electrical home appliances. The situation prompted the US government to develop a standard to verify these factors in electrical home appliances. The Energy Star program initiated by the US EPA together with the US DOE is applicable for a wide range of electric home appliances, including light bulbs, irons, mixers, room ACs, vacuum cleaners, water heaters, washing machines and refrigerators among others.

The report titled "Household Appliances: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a rudimentary insight into major product markets, definitions, and classification, in addition to fast facts about the ongoing consolidation among retailers, the intensifying competition brought about by the ingress of new entrants, new opportunities in Asia, the impact of technology, changing consumer preferences and other noteworthy trends/issues. Also included is a compilation of all recent mergers, acquisitions, and strategic corporate developments. In addition to the global market scenario, a regional level of discussion designed to provide a prelude to prevalent market scenarios in major countries, culminate in building a macro-level perception of the industry in its totality. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 911 companies worldwide.

For more details about this research report, please visit
http://www.strategyr.com/Household_Appliances_Industry_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 more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 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@StrategyR.com
Web Site http://www.StrategyR.com

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