Electrical appliances are the devices which are designed to perform specific functions, using electricity. Growing modernisation has resulted in the busier lifestyle of an individual. Growing automation technology has led to the manufacturing of electrical appliances which saves the time and are convenient to use among the population. Modern appliances coupled with eco-friendly technologies require less power consumption and are more durable. Government initiatives and huge investments in renewable sources have encouraged the use of smart energy efficient products. According to U.S. government, the certified energy star appliances are accounted to use 10% - 30 % less electricity than a traditional model. Therefore, they are efficient in reaching the demands in household sector. Moreover, most of the electrical appliances are portable like air purifiers, blenders, and coffee machines which have created a positive impact in the market. Solar flashlights, solar chargers and calculators have witnessed increased use in consumer electronics in the recent years. Owing to the lucrative features and increased demand of these appliances, the Electrical Appliances Market is estimated to show a significant growth of XXX CAGR during the forecast period.

Market Segmentation:

On the basis of type, the electrical appliances market is majorly segmented into kitchen appliances, washing appliances, and entertainment appliances. By distribution channel, the market is categorised into online, and offline. By region, the electrical appliances market is classified into North America, Europe, and Asia Pacific, and RoW.

Market Dynamics and Factors:

Increase in disposable income leading to the changing lifestyles of overall population is the major factor driving the electrical appliances market growth. Furthermore, rising modernisation and demand for the comfort has greatly influenced the use of smart kitchen appliances like wireless electric kettle, cordless induction, CFL bulbs and HVAC (Heating, Ventilation, and an air-conditioning unit) recently. Technological advancements have brought IWM (impeller washing machine) which promotes healthy wash. Increased use of entertainment units like home theatre system, Google assistance speakers, digital adapters, and smart phones have positively influenced the electrical appliances market. The major restraint in the market is the high cost of smart and energy efficient appliances coupled with uncertainty in the price of raw materials. Another factor hampering the market growth in the upcoming years is considerable investment in R&D required to manufacture environment-friendly and reliable appliances. Also, strict regulations regarding the use of plastic in the process of manufacturing the appliances is hindering the electrical appliances market growth. Rise in the use of these appliances in residential area has led to higher power consumption, thereby creating a major challenge in producing more electricity. However, changing lifestyle backed up with convenient distribution methods like online shopping through mobile phones, reduced rates during sales, and lucrative offers in festive seasons will continue to foster the demand for electric appliances in the upcoming years.

Geographic Analysis:

North America and Europe are leading in the global market, owing to the implementation of smart-home technology and replacement of the traditional products, as the average life of electrical appliance is 10 years. Asia Pacific has been a significant revenue contributor lately, due to the presence of Alibaba, the largest e-commerce and Retail Company in China. It is also anticipated to flourish in the forthcoming years due to the high consumer base and dominating IoT sector. India has shown a remarkable shift from conventional biomass-based household wares to smart energy efficient appliances in the past decade. Middle East and Africa are also estimated to project effective growth rate by implementing energy efficient solution in kitchen and home comfort appliances in the upcoming years.

Competitive Scenario:

Key players in electrical appliances market are Haier Group, Midea group, BSH Bosch GmBH, AB Electrolux, Gree Electric Appliances INC., LG Electronics, Samsung Electronics, Panasonic Corporation, Koninklijke Philips N.V., Godrej Group, Whirlpool Corporation, IFB Industries Limited and, Hitachi Limited.

Electrical Appliances Market Report Scope