The Germany consumer appliances market is expected to reach USD 20.8 billion by 2025, according to a new report by Grand View Research, Inc. This report includes a detailed market analysis of the Germany household appliances market and market shares of major domestic appliances and minor domestic appliances. The report also covers different factors that have led to the growth and decline in this market space along with a brief market snapshot.
Germany is considered a matured and a developed market in the household appliances industry. Germany has been the focal point of development in the European region in terms of innovation and considering the requirements of the consumers. The sales of these household appliances in the German market depends upon the trade deals for the remodeling and renovation of houses, or exchange and upgradation of older household appliances.
The technical and mechanical advancements in the home appliances products have contributed towards enhancing the way of life of individuals in Germany. A wave of change in the use of these products can be seen because of the increasing disposable income of German citizens and the fast urbanization patterns occurring in different parts of the world.
Under consumer appliances industry, the household appliances, also known as white goods has been segmented into two major parts, Major domestic appliances and minor domestic appliances. This classification is based on the utility of the appliances such as cooling, cooking, heating and cleaning. For instance, refrigeration appliances, washing appliances (clothes washers, dryers, and others), room comfort (cooling systems, room warmers, fans, dehumidifiers and others), water heaters, cleaning appliances (vacuum cleaners, dish cleaners and others) and entertainment appliances and machines (TVs, Laptops, smartphones and others).
The small household appliances such as blenders, toasters, mixers, and hotplates also support the growth and development of the overall home appliances industry in Germany but at a slow pace.
The Germany household appliances market has additionally been fragmented based on the distribution channel into E- retailers, departmental stores, Hypermarkets, supermarkets, and others. Although e retailers and departmental stores have been mostly used by the buyers, the e commerce business is relied upon to be the quickest developing distribution channel in the coming future. Web based business is the main driving force for the household appliance purchases. This, in blend with creative credit plans, Discounts and offers is making the procurement of household appliances less demanding for middle incomed people.
The significant players in the home appliances market in the Germany are Haier Electronics Group Co. Ltd, Whirlpool, Electrolux AB, LG Electronics, Panasonic Corporation, Samsung Electronics, Arcelik A.S and Gorenje Group to name a few.
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Further key findings from the report suggest:
- The German household appliances market is growing at a CAGR of 1.3% and is expected to reach USD 20.8 billion by 2025. Major reasons behind the growth being, recovery of European economy and influx of smart appliances in the market.
- By 2025, under the product segment, major household appliances are expected to reach a value of USD17.6 billion. This can be attributed to the growing purchasing power of the consumers in Germany.
- The minor domestic appliances market is expected to reach USD 3.2 billion by 2025 with a CAGR of 0.8% during the forecast period.
- The Germany household appliances market currently represents approximately 23% of the total European household appliances market.
- Among the distribution channels, E-retailers like Amazon and Otto are growing the fastest at a CAGR of 1.6% followed by departmental stores like Aldi and Metro progressing at a CAGR of 1.5% during the forecast period.
- Out of the many commercial players in this market space, the big players who are going to enjoy major market share are, Whirlpool, Electrolux AB, LG Electronics, Panasonic Corporation, Samsung Electronics, Arcelik A.S and Gorenje Group.