The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2013
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North and Latin America together accounted for nearly one third of the world’s volume sales of consumer appliances in 2012, and one quarter of value. Their fates have differed, however, with Latin America strongly growing while North America has struggled to post any growth at all. Both regions, nevertheless, are expected to see growth over 2012-2017: Latin America on the back of a wealthier consumer base and North America based on an improvement in the economic climate.
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Disposable income grew strongly in Latin America over 2007-2012. This, coupled with greater access to consumer credit acted, will continue to act as a key driver of growth in consumer appliances in the region.
The growing success of added-value products in Latin America is not simply a passing trend but a real evolution of the market, where consumers from low- and middle-income groups with rising disposable incomes and better access to lending have the same expectations as higher earning consumers. Thus, an increase in per capita expenditure on consumer appliances is expected.
Brazil is, and will continue to be the key driver of growth in consumer appliances in Latin America. Tax incentives on major appliances helped to boost consumption in the review period, and while growth is expected to slow down after the aid is removed in the forecast period, Brazil will remain among the world's five most dynamic markets.
North America is still trying to battle out the "double dip" in major appliances. While growth is expected in the forecast period in all categories, this will not be enough to return to pre-crisis volumes in most appliance types.
Latin America is not only anticipated to grow healthily in major appliances in the medium term, but come 2014, it is expected to overtake North America in volume sales, and become the third largest region after Asia Pacific and Western Europe.
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