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 moreMar 2018
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The global major appliances market posted 2% faster volume growth in 2017 compared with 2016, largely driven by robust growth in Asia Pacific, along with rebounds in Latin America and Eastern Europe. Connected home, premiumisation, healthy living, green living, time efficiency and sharing economy are key trends shaping the major appliances industry’s future. For connected appliances’ development and sales, China and the US are expected to maintain global leadership.
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With a growing ecosystem, connected appliances sales will grow steadily especially in China, US and Western Europe.
Growing efforts of the United Nations will continue topromote green technology. New energy labels and risingutility costs also drive efficiency development.
Income growth drives demand for appliances betterdesigns and greater efficiency, while growing competitionincreases the availability of matched models.
Appliances will play an increasingly important role to helpconsumers maintain a healthy living, so sales of steamovens and multi-drum washers are poised to grow.
Popularity of combination appliances is set to be boostedby the growing number of smaller apartments in cities withsoaring property prices, such as New York, London andHong Kong.
Consumers with busy lifestyles will demand appliances that complete tasks faster to save time performinghousehold chores to maximise free time.
To reduce the cost, rental households and foodservicestart-ups are likely to rent appliances. Hence, appliance sharing is projected to gain popularity among them.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.