Global Household Appliances Market Forecast 2023-2032

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The White Goods Global Market Report 2023 by The Business Research Company, provides white goods market overview 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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https://www.thebusinessresearchcompany.com/report/white-goods-global-market-report

According to The Business Research Company’s White Goods Global Market Report 2023, the market size is expected to grow from $609.66 billion in 2022 to $670.44 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global white goods is expected to grow to $977.13 billion in 2027 at a CAGR of 9.9%.

The increase in the adoption of smart home appliances by customers to the reduced workload is expected to propel the growth of the white goods market. A smart home appliance is an electronic device connected to a central system that can be programmed or controlled remotely or function autonomously based on input from sensors, which detect temperature, light levels, or activity. Smart appliances are usually built to work with other smart devices, preferably part of a larger smart home system. There will be a significant demand for white goods in response to the rise in the adoption of smart home appliances.

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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

The introduction of new innovative systems is the key trend gaining popularity in the white goods market. The introduction of new innovative systems includes smart home appliances that are technologically advanced, which utilize the latest technologies such as artificial intelligence to manage their operations and make daily living easier. Innovative white goods are set for future growth by providing customers with relevant benefits such as reduced workload, time savings, and security. For instance, in September 2020, Samsung, a global home appliances company launched a new range of artificial intelligence (AI) powered front load washing machines in India. These washing machines come with the company’s latest Q-Rator technology offering smart features to manage laundry. The smart features include a laundry planner to manage the washing machine time, auto-recommendation for the optimal wash cycle, and a homecare wizard to manage the washing machine’s condition.

The white goods market report table of contents includes: