Published Date: 22-Dec-2021
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According to a new report Global Small Domestic Appliances Market, published by KBV research, The Global Small Domestic Appliances Market size is expected to reach $397.97 billion by 2027, rising at a market growth of 11.8% CAGR during the forecast period.
Based on product type, the impact of the Western Culture on developing countries like India and Indonesia has fuelled the adoption rate of cooking appliances and hence, creating new growth avenues for home equipment. Additionally, the demand for residential cooking/baking and heating appliances segment is high among the urban population, particularly in the emerging countries owing to the aspects like huge buying power, advanced infrastructural facilities, and growing working population.
Based on distribution channel, stores also put high investment in the categorization of their products and in-store product placement and strive to increase the sale of various other items while optimizing the sale of one single product. For example, if people desire to purchase an induction cooktop from a hypermarket/supermarket, they are expected to find related items like induction-based utensils and could be provided with combined cost.
Based on end-user, the major market players are constantly meeting the needs of the commercial industry by altering current and creating new small domestic appliances. Due to this, the number of product launches particularly for the commercial segment has been observed in the last couple of years. Hence, the growth of the small domestic appliances market would be fuelled by the upsurge in the adoption and utilization of small appliances in the commercial segment.
The demand for air treatment in the region is boosted by the growing demand for energy-efficient products. Moreover, the growth of the regional market would be fuelled by the rise in awareness about energy star-certified items. Further, the requirement to substitute the conventional with smart connected machines is expected to drive the growth of the regional market.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Product Type
By Distribution Channel
By End User
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