The Asia Pacific Small Domestic Appliances Market would witness market growth of 12.3% CAGR during the forecast period (2021-2027).
The growth of the market would witness bright prospects due to the rising preferences of consumers for innovative designs, increasing demand for small domestic appliances, and sustainable appliances that comply with the norms of the governments and demand for locally made products. Thus, global players are willing to form partnerships with regional makers that would further create lucrative growth opportunities in the market.
Home appliances such as bread machines, water heaters, rice market, cleaner, coffee market, and oven are now integrated with internet compatibility, which can be regulated by smartphones. Additionally, smart functionality and features are getting highly popular among the customers and they can enhance their living standards.
In the regional market, consumers prefer to buy many home appliances as they provide ease, reduce efforts, and save time. In addition, the demand for small domestic appliances in the regional market would further be driven by the constant product enhancement, developments of new products, product differentiation, and integration of various value-added features.
The Residential market dominated the Asia Pacific Small Domestic Appliances Market by End User in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $92,379.6 million by 2027. The Commercial market is anticipated to grow highest CAGR of 13.8% during (2021 - 2027).
Based on Product Type, the market is segmented into Cooking/Baking and Heating Appliances, Kitchen Appliances, Personal and Animal Care, Textile Handling Appliances, Cleaning Appliances, Air-Treatment Appliances, and others. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Brand Outlets, Retail Stores, E-Commerce, and Others. Based on End User, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Small Domestic Appliances Market is Projected to reach USD 397.97 billion by 2027, at a CAGR of 11.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Haier Smart Home Co., Ltd. (Haier Group Corporation) (Candy Hoover Group Srl), Dyson Limited, The Glen Dimplex Group (Morphy Richards), Groupe SEB, Kenwood Limited (De’ Longhi Group), Robert Bosch GmbH, Spectrum Brands Holdings, Inc. (Russell Hobbs), Stanley Black & Decker, Inc., Electrolux AB, and Whirlpool Corporation.
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