The White Goods Global Market Report 2023, provides comprehensive information on the white goods market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to the comprehensive findings of The Business Research Company’s White Goods Global Market Report for the year 2023, the market has demonstrated remarkable growth. In particular, the market size has surged from $609.66 billion in 2022 to an impressive $670.44 billion in 2023. This upward trajectory signifies a substantial compound annual growth rate (CAGR) of 10.0%.
Nonetheless, it is essential to acknowledge the global context, as the Russia-Ukraine conflict has introduced significant disruptions. These disturbances have hampered the prospects of a swift global economic recovery from the COVID-19 pandemic, at least in the short term. The conflict between these two nations has instigated economic sanctions imposed on several countries, an upswing in commodity prices, and a series of supply chain interruptions. These factors have collectively contributed to an overarching trend of inflation, which extends its impact across various sectors and markets worldwide.
The outlook for the global white goods market, however, remains promising. It is anticipated to exhibit robust growth, with the market size projected to reach an impressive $977.13 billion by the year 2027. This anticipated growth is underpinned by a commendable CAGR of 9.9%, indicating substantial opportunities and potential for the industry.
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The current prevailing trend in the white goods market is the introduction of innovative systems, a phenomenon gaining considerable momentum. These innovative systems encompass smart home appliances that are at the forefront of technology, leveraging cutting-edge advancements such as artificial intelligence for seamless operation and enhanced daily living. Innovative white goods are poised for substantial growth as they bestow consumers with a plethora of advantages, including reduced workloads, time efficiencies, and heightened security.
A prime example of this trend is Samsung’s September 2020 release in India, where the global home appliances giant unveiled a new line of front-load washing machines, powered by artificial intelligence (AI). These state-of-the-art machines boast the company’s latest Q-Rator technology, offering an array of intelligent features to streamline laundry management. These include a laundry planner for efficient time management, automatic recommendations for optimal wash cycles, and a homecare wizard to ensure the machine’s optimal condition. This convergence of technology and white goods exemplifies the forward trajectory of the market towards increasingly sophisticated and beneficial solutions for consumers.
The white goods market is segmented:
1) By Type: Cleaning Equipment, Preservation & Cooking Equipment, Heating & Cooling Equipment, Other Types
2) By Application: Offline Sales, Online Sales
3) By Distribution Channel: Supermarket & Hypermarket, Specialty Store, Retail Store, E-commerce, Other Distribution Channels
4) By End User: Private Sector, Domestic, Corporate, Public Sector, Government, Hospitals
Top 5 Major Key Players
- Blue Star Ltd.
- Videocon Industries Ltd.
- LG Electronics Inc.
- Samsung
- Haier Group
North America was the largest region in the white goods market in 2022.
The table of contents in TBRC’s white goods market report includes:
- Executive Summary
- White Goods Market Characteristics
- White Goods Market Trends And Strategies
- White Goods Market – Macro Economic Scenario
- White Goods Market Size And Growth
…..
- Africa White Goods Market
- White Goods Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The White Goods Market
- White Goods Market Future Outlook and Potential Analysis
- Appendix
List Of Tables
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global White Goods Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global White Goods Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global White Goods Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
…..
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global White Goods Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global White Goods Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global White Goods Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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