Outdoor Parties Trend Enables The Household Appliances Market To Reach $819 Billion By 2026

The Business Research Company’s Household Appliances Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, March 22, 2022 /EINPresswire.com/ — The rising trend of outdoor parties and cookouts on weekends and holiday is expected to drive the market for barbeques and grills in the forecast period. Rapidly evolving lifestyle along with the increasing outdoor recreational activities will increase the demand for barbeque machines and grills. The Europe barbeque grill market is expected to grow to $5.98 million by 2026. Increasing access to unique camping sites, and increasing adventure camping, coupled with the rising disposable income will drive the market for barbeques globally, which in turn will boost the electric household appliances market in the forecast period.

The global household appliances market size is expected to grow from $502.28 billion in 2021 to $557.70 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. According to the household appliances market forecast, the market is expected to reach $818.87 billion in 2026 at a CAGR of 10.1%.

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Manufacturers in the global household appliances market are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting systems minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting. For instance, some of the major companies manufacturing LED lighting include Philip Electronics N.V., Osram Opto, Digital Lumens Inc and Cree Corporation.

Major players covered in the global household appliances industry are Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., LG Electronics, Qingdao Haier Co. Ltd., Daikin Industries Ltd, Whirlpool Corp, Midea Group co ltd, Robert Bosch GmbH, Apple and Electrolux AB.

Asia Pacific was the largest region in the household appliances market in 2021. Western Europe was the second largest region in the household appliances market. The regions covered in the household appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

TBRC’s global household appliances market analysis report is segmented by type into small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment, other major household appliances, by application into cooking, cleaning, others, by mode into online, offline.

Household Appliances Global Market Report 2022 – By Type (Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance), By Application (Cooking, Cleaning), By Mode (Online, Offline) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a household appliances market overview, forecast household appliances market size and growth for the whole market, household appliances market segments, geographies, household appliances market trends, household appliances market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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