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 moreJan 2015
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Global production of major appliances continues to grow, though at a slower pace, thanks to China. Five years on from the crisis, the World is seeing recovery; however, this has not been enough to return to pre-crisis levels in most categories when excluding China. The next region driving growth is Eastern Europe, mainly thanks to relocation from the West. This is changing the production landscape, with some traditional markets becoming the worst performers and newcomers showing good prospects.
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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.
Following the post-recession re-stocking peak in 2010, the global production of major appliances continues to grow thanks to China, although at a much slower pace.
Five years on from the crisis, most categories have yet to return to pre-crisis levels of output, when taking China out of the mix. Home laundry and refrigeration are the only exceptions.
A slowdown in Chinese production reflects its reduced competitiveness as a manufacturing base, due particularly to wage increases. This has led many companies to look for alternatives, some of which include re-shoring or markets such as Indonesia, Malaysia and Vietnam.
Taking Asia Pacific out of the mix, the next region driving global production growth is Eastern Europe, thanks to buoyant Polish production, with the region challenging Latin America as the third largest producer.
Between 2009 and 2014, Italy, once the world’s third largest manufacturing hub, saw a decline in annual production of over 7 million units, representing a fall of almost one third in its output.
All categories witnessed growth in production over the 2009-2014 period. The best performing was refrigeration appliances, which was also the one to recover to pre-crisis levels fastest, when excluding China.
Indonesia emerges as key refrigeration appliance production hub
Indonesia saw the fastest growth in refrigeration appliance production over 2009-2014, and was second only to China in absolute volume terms, with an increase of over 3 million units, driven mainly by booming internal demand.
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.