The new report by Expert Market Research titled, ‘Global White Goods Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Global White Goods market, assessing the market based on its segments like application, end user, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 60.43 billion
- Forecast CAGR (2022-2027): 7.8 %
- Forecast Market Size (2027): USD 956.4 billion
The market for White Goods has seen substantial growth due to the rapidly increased demand for electronic products such as refrigerators, washing machines, dishwashers, and other white goods in the residential sector. These items are cost-effective, long-lasting, and efficient, and they can improve housekeeping and make the caretaker’s job easier. The Asia Pacific region holds a significant share of the market and is expected to grow at a healthy rate throughout the forecast period. The rising living standards in countries such as India and China, among others, can be ascribed to the region’s market expansion. In these nations, the structural move towards smart appliances is projected to be a major driver of market growth. Furthermore, the industry is likely to benefit from increased competition among regional electronic device manufacturers to deliver better products.
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Major Segments in the Market
White goods are huge appliances or large electronic machinery used in the home, commercial, or industrial areas to perform duties such as cooking, food preservation, and cleaning, among others.
Based on the product, the industry is divided into:
- Air Conditioner
- Washing Machine
- Microwave Oven
Based on the end-users, the industry is divided into:
The different distribution channels include:
- Hypermarkets and Supermarkets
- Speciality Store
The regional markets for White Goods include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
In the projected period, the growing reliance on technology, rising disposable income in emerging economies, and rapid innovations in the electronic industry are expected to give additional impetus to market expansion.
Key Market Players
The major players in the market are Alliance Laundry System LLC, Blue Star Limited, Electrolux AB, Haier Group Corporation, LG Electronics Inc, and others.
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